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Mapping the trucking market: How data tracks freight economy, rates, capacity, volumes and rejections

FreightWaves SONAR

Companies with access to accurate near-real-time data not only improve their operations; they also gain the ability to depict the current state of the trucking market. That information then leads to improved rates, capacity, and several other benefits. These accurate depictions of the market come from the tracking of data.

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Watch Trimble’s Engage Lane Demo from Future of Freight Festival 2022

Trimble

During the event, Rishi Mehra, director of operations and strategy, and Kelly Williams, product manager, had just seven minutes to present a Rapid-Fire Demo of Engage Lane: an agile transportation procurement platform that streamlines the relationship between carriers and shippers and helps them uncover better ways to move freight.

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3 Ways Shippers Use Trucking Data to Find Capacity

FreightWaves SONAR

And the transportation and shipping industry has a choice to make – to take advantage of trucking data or to ignore it, continuing as before. . Access to data and proper analysis are both essential to maximize profits and reduce costs. Real-time trucking data helps to secure more capacity and better shipping rates.

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Freight Market Data Sources

FreightWaves SONAR

(Graphics created by Emily Ricks) There are ample opportunities to take advantage of spot versus contract freight data insights. Spot freight provides a short-term way to source capacity and boost procurement outside of contracted rates whether TL or LTL. And as mentioned, that TMS data becomes a key SONAR data source.

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Cracks in Trucking Capacity Show Up in the South

FreightWaves SONAR

The significance of this region’s having the most elevated rejection rates is simply that it is breaking a multiyear pattern of relatively loose capacity conditions and minimal volatility. of the total outbound tenders in SONAR’s tender data. It is also where many carriers are based and many drivers live. throughout the year.

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Truckload Shipping Procurement: How Large Data Sets/AI Aid in Pricing and Capacity Outlooks

FreightWaves SONAR

The problem looms large for shippers and managers across the supply chain network, but the answer is out there – better utilization of smart data and automated processes. Shipping managers continue to struggle with capacity procurement during this time of industry-wide disruption . Poor data analytics cause disruptions.

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Why near-real-time electronic freight tender trucking data is more reliable than waiting on submitted data

FreightWaves SONAR

Data for data’s sake lacks value, especially in the view of the supply chain. And across the market, submitted data becomes rapidly outdated. And in some industries, outdated data can have disastrous consequences. For instance, take the value added by more accurate data in the health industry.

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