The term “ratecon” (short for rate confirmation) is a legally binding agreement between a freight broker and a carrier that the freight broker must provide for the carrier to sign before proceeding. Ratecon documents govern all load details, including how much the broker or shipper will pay the carrier for the movement of the load. …
The U.S. trucking industry has fewer less-than-truckload (LTL) carriers than full truckload carriers. But if you’re a shipper, you’ll find that different LTL carriers can offer unique features and benefits to match your cost, service levels, and speed requirements—even if their network doesn’t fall neatly into one of the categories below. First, national LTL carriers …
Are you giving some thought to the best ways to choose and work effectively with LTL carriers? It’s essential to understand the National Motor Freight Classification (NMFC) system. With NMFC classification, all freight fits between Class 50 and Class 500, based on the freight’s density and value. You’ll also want to carefully survey each LTL …
Less-than-truckload (LTL) carriers have experienced significant increases in base rates and pricing contracts lately, and most are thriving despite inflation, ongoing capacity issues, and rising diesel prices. A lesser-known fact? Due to high labor and operations costs, many LTL carriers have plowed recent gains back into their businesses. But how do logistics and freight transportation …
78% Expect LTL Carrier’s Rates to Increase from 2022 to 2023 Read More »
How are smaller fleets with less than 100 trucks managing in 2022 with diesel costs hovering around $5/gallon? Some carriers pass along rising fuel costs to customers or use fuel surcharge tables, adding these per mile or as a percentage of the invoice. What other steps can smaller fleets take to keep fuel costs as …
Our goal at Optym is to make every business more profitable and efficient through the use of technology. For over twenty years, we have applied automation and decision optimization to some of the world’s largest companies and we can do the same for you.
