Brokerages

Why limit your provider mix?

By Omar Singh, president and founder, Surge Transportation

It always surprises me when anybody chooses to arbitrarily limit their options. In this conversation, we’re discussing limiting the number of brokers shippers work with based on, well, the number of brokers they work with rather than based on the specific strengths and weaknesses of their broker partners. 

When it comes to motor carriers, the selection of carrier partners is much more deliberately made on the strengths of those carriers....

https://www.freightwaves.com/news/why-limit-your-provider-mix

Unrisky business: Carrier monitoring software hopes to reduce legal perils

Routinely, brokerage carrier sales and operations teams work to eliminate potential risks when choosing transportation partners for the brokerage’s shipper clients. These decisions, which call for manual review of carrier specifics, often must be made in less time than it takes to brush one’s teeth in the morning.

Now multiply that risky decision by the vast number of loads booked by U.S. brokerages in a day, and the outcome is a jeopardized load-matching system.

This problem is what inspired...

https://www.freightwaves.com/news/unrisky-business-carrier-monitoring-software-hopes-to-reduce-legal-perils

F3 chat: FreightTech, M&A strategies and other brokerage transformations

This fireside chat recap is from Day 2 of FreightWaves’ F3 Virtual Experience. 

FIRESIDE CHAT TOPIC: How a hybrid tech strategy leads to success

DETAILS: FreightWaves CEO Craig Fuller talks with CarrierDirect CEO Peter Renstchler on technology trends in the brokerage industry, the 3PL M&A environment and changing growth strategies to reach maximum value.

INTERVIEWER AND SPEAKER: Craig Fuller, founder and CEO of FreightWaves, and Peter Rentschler, CEO of CarrierDirect.

BIO: Rentschler is the CEO of...

https://www.freightwaves.com/news/f3-chat-freighttech-ma-strategies-and-other-brokerage-transformations

ArcBest sees billions of dollars in opportunities with MoLo acquisition

ArcBest executing on two fronts

ArcBest (NASDAQ: ARCB) took a big step toward bridging the gap to a long-term goal Wednesday with the acquisition of Chicago-based truckload broker MoLo Solutions. The deal advances a key initiative for the Fort Smith, Arkansas-based logistics and less-than-truckload provider — to grow its asset-light operations to a level equal to its asset-based trucking unit.

MoLo’s $600 million in expected revenue for 2021 pushes ArcBest’s consolidated annual top line to $4.1 billion, with asset-light...

https://www.freightwaves.com/news/arcbest-sees-billions-in-opportunities-from-molo-acquisition

Universal Logistics Holdings CEO ‘bullish’ on successful 2021

Universal Logistics Holdings Inc. (NASDAQ: ULH) reported financial results for the fourth quarter that mainly beat Wall Street expectations, helped by the recovery of the North American automotive industry, said CEO Tim Phillips.

The company earned $16.2 million on revenues of $386 million during the fourth quarter of 2020. The revenue numbers beat most analysts’ expectations by more than 8% and compare to year-ago revenues of $375.9 million.

“As we exit the year on a high note, we have a...

https://www.freightwaves.com/news/universal-logistics-holdings-ceo-bullish-on-successful-2021

Universal Logistics profits, revenue rise during fourth quarter

Universal Logistics Holdings Inc. (NASDAQ: ULH) reported fourth-quarter 2020 net income of $16.2 million, compared to $8.7 million during fourth-quarter 2019, an 86% increase, according to the company’s earnings report released on Thursday.

On a per-share basis, the Warren, Michigan-based company said it had net income of 60 cents per share, on total operating revenues of $386 million. This compares to 32 cents per share during the fourth quarter of 2019 on operating revenue of $375.9 million.  

T...

https://www.freightwaves.com/news/universal-logistics-profits-revenue-rise-during-fourth-quarter

Don’t wait: A new blueprint for brokerage success in the digital age

Technology is evolving rapidly across the transportation and logistics industry. As new tools are adopted, service and performance expectations change. The road map of success is changing too. 

There are a few things that have always been and will continue to be seen as markers of a successful business – profitability, brand recognition and customer satisfaction. The ways businesses achieve those things, however, are subject to change. 

Now the road to success is paved with digital tools and...

https://www.freightwaves.com/news/dont-wait-a-new-blueprint-for-brokerage-success-in-the-digital-age

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