Curtis Garrett

How widespread is API connectivity in the LTL industry?

LTL rig on highway with solar thermal power plant in the background

Application programming interfaces have become more commonplace in the less-than-truckload industry. It’s a significant change yielding big efficiencies for an industry evolving from an analog world.

An API allows two disparate systems to communicate with one another. It allows applications to transfer data and execute transactions in real time.

“Historically in LTL freight, base rates, carrier coverage points and other information was passed around manually using physical disks and CDs and had...

https://www.freightwaves.com/news/how-widespread-is-api-connectivity-in-the-ltl-industry

What is dynamic LTL pricing?

Dynamic pricing models change to reflect excess capacity as well as shortfalls.

Pricing in the less-than-truckload industry is evolving from annual RFPs and static tariffs to a more fluid approach, which includes dynamic pricing.

Historically, the industry has worked off base rates and in-house models to best account for trailer space occupied, time spent at pickup and delivery sites and handling costs on the docks. Risks like injury to drivers and costs stemming from potential cargo claims are also factored. Rates are generated based on assumptions and averages, often...

https://www.freightwaves.com/news/what-is-dynamic-ltl-pricing

What’s involved in an RFP for an LTL shipper?

The more detail an LTL carrier has the more accurate your pricing will be.

RFPs in the less-than-truckload industry have changed significantly in recent years. The days of just providing shipment weights, volumes and lanes are gone. For shippers to get an accurate upfront quote, they need to provide much more detailed information.

For a carrier, the main cost drivers are space, time and risk, according to Curtis Garrett, VP of pricing and carrier relations at Recon Logistics.

The space component looks at cubed space and how loaded or dense the cube is. Also,...

https://www.freightwaves.com/news/whats-involved-in-an-rfp-for-an-ltl-shipper

LTL: How do general rate increases work?

LTL carriers use general rate increases to absorb cost inflation and utilize idle capacity

Less-than-truckload carriers use general rate increases (GRIs) to make adjustments to base rates. The increases are applied to general tariff codes and vary by lane and weight tier. Some LTL pricing agreements with shippers work off a base rate schedule and utilize account-specific negotiated discounts. The base rate will increase when a GRI is taken but shippers continue to apply their discounts to the new rates. The headline percentage change announced by the carriers is the expected average...

https://www.freightwaves.com/news/ltl-how-do-general-rate-increases-work

Strong LTL market still has some bumps in the road

LTL attracting new investment

On the surface, all is well in trucking as a sustained period of high demand outpaces supply, driving rates ever higher. Both less-than-truckload and truckload carriers have more freight than they can handle in what is widely being described as a “carriers’ market.”

But the boom time environment is causing more than just headaches for many carriers. Finding drivers and dockworkers, port congestion, bad weather, rail service issues, and getting equipment stuck at warehouses are some of the...

https://s29755.pcdn.co/news/strong-ltl-market-still-has-some-bumps-in-the-road

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