Smarter Capacity

Essential fraud prevention strategies for freight brokers, carriers

Cargo fraud has been on a steep upward trajectory since mid-2022. Almost 700 theft incidents were reported across the U.S. during the third quarter of 2023. This number represents a 59% increase over the same quarter last year, according to CargoNet.

Types of cargo fraud

All types of cargo fraud are on the rise. Experts believe this is due, in large part, to a combination of tough economic conditions and overall supply chain vulnerabilities. Brokers, specifically, should be especially aware of...

https://www.freightwaves.com/news/essential-fraud-prevention-strategies-for-freight-brokers-carriers

Brokers should use technology to stand out this RFP season

The current freight recession has created a market characterized by an overabundance of capacity and a stubborn lack of demand. While the market remains depressed, industry experts have noticed signs of an impending rebound in the mid-term future.

“The national Outbound Tender Reject Index (OTRI) topped 4% [in August] for the first time since early January, when it was recovering from the holiday period,” FreightWaves market expert Zach Strickland reported in late August. “While 4% is still...

https://www.freightwaves.com/news/brokers-should-use-technology-to-stand-out-this-rfp-season

Small carriers, owner operators remain lifeblood of transportation during market downturn

Small carriers and owner operators make up the large majority of the nation’s carrier base. Very small carriers – fleets with one to six tractors – account for 86% of total U.S. carriers, according to recent FMCSA data. Small carriers – those with 7 to 19 tractors – make up another 9%. All together, these fleets provide over 30% of the industry’s available power units.

Despite their prevalence in the market, these players tend to be the most affected during market downturns. Smaller teams means...

https://www.freightwaves.com/news/small-carriers-owner-operators-remain-lifeblood-of-transportation-during-market-downturn

ELD tracking changes the game for real-time visibility

Not all that long ago, real-time, end-to-end visibility was considered a perk. Shippers could only expect this type of tracking on a small number of loads, depending on the size and technical skill of their broker and carrier partners. Over the past few years, however, on-demand visibility has shifted to a consistent expectation.

Brokers and carriers of all shapes and sizes are able to offer top-notch visibility to shippers thanks to the widespread technological advancement that followed the ELD...

https://www.freightwaves.com/news/eld-tracking-changes-the-game-for-real-time-visibility

Trucker Tools’ loyalty program rewards drivers, not carriers

Carrier rewards programs have become popular in recent years. 

These programs are typically intended to foster goodwill between shippers or brokers and their transportation partners, especially during times of market volatility and general unpredictability. While these programs often reward carriers, they do not typically benefit individual drivers.

Trucker Tools has set out to change that.

“We have talked to hundreds of brokers over the years who are looking for a scalable, reliable digital way...

https://www.freightwaves.com/news/479423

What a centralized tech stack can do for your final-mile shipping

When it comes to the final mile, shipping businesses at scale have a low tolerance for inefficiency.

Traditionally, final-mile business processes have been scattered across multiple programs — one for load matching, another for interacting with customers and another for billing, to name a few. The fragmented nature of the industry has always required shippers to work with many regional carriers or owner-operators, all of which have their own procedures and technology limitations. Shippers end up...

https://www.freightwaves.com/news/what-a-centralized-tech-stack-can-do-for-your-final-mile-shipping

Technology proves important to relationship management

A white tractor pulling a white trailer on the highway

As spot rates decline and capacity loosens, many carriers are searching for ways to optimize their operations in order to weather a market downturn. Additionally, shippers are working to take advantage of these changes.

The answer for both shippers and carriers may lie in technology.

The technological needs of companies across the supply chain are changing, but that does not mean their current tools are useless. Existing solutions aimed at optimizing freight movements may shift from...

https://www.freightwaves.com/news/technology-proves-important-to-relationship-management

Digital freight matching offers benefits in soft market

White tractor-trailer on a highway with dark storm cloud on the horizon.

Like other technologies aimed at generating cost savings, digital freight matching (DFM) took off during the recent pandemic-fueled capacity crunch. Getting loads covered at the push of a button – and exercising a modicum of control over pricing – was an attractive sell for shippers and their freight brokers working hard to move massive amounts of freight without compromising their bottom lines.

Now, volumes are balancing out, capacity is loosening up and rates are dropping from their historic...

https://www.freightwaves.com/news/digital-freight-matching-offers-benefits-in-soft-market

Driving out supply chain inefficiencies key to eliminating food waste

Albertsons grocery delivery subscription like Amazon Prime for groceries

Citizens and governments alike have taken a special interest in sustainability and climate change over the past few years. Emerging regulations — coupled with pressure from consumers — have pushed companies across the transportation industry to clean up their act, with many issuing public sustainability pledges. While the most common measures involve switching from diesel to electric vehicles or eliminating empty miles, there are unique opportunities for companies in the produce space to take...

https://www.freightwaves.com/news/driving-out-supply-chain-inefficiencies-key-to-eliminating-food-waste

Digital freight matching offers planet-saving perks

Several companies are going all out to help in times of COVID-19 (Photo: Jim Allen/FreightWaves)

Over the last few years, sustainability has proven to be a hot button issue for just about every industry across the globe. The worsening climate crisis – and increased consumer awareness to its effects – has pushed both governments and corporations to make concrete efforts toward better environmental stewardship. 

Transportation is the single largest contributor to greenhouse gas emissions, accounting for 29% of all emissions, according to the U.S. Environmental Protection Agency. This number...

https://www.freightwaves.com/news/digital-freight-matching-offers-planet-saving-perks

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