Today, more than ever, shippers need protection from market volatility throughout their supply chain. Today’s trucking rates, available capacity, and demand sit below the 2018 peak. Jeff Berman of Logistics Management notes
, “Today, while it may not be operating at the same elevated levels, the market remains strong overall, even though rates have taken a step back, capacity has loosened, and ongoing trade tensions have sent ripples throughout the economic outlook.” Rates continue to present a challenge to shippers who are under pressure to cut costs from prior years when they overspent in a tighter freight market. While shippers continue to work with carriers to lock in contracted backup rates to protect themselves from market volatility, those backup rates can quickly go stale and leave shippers without coverage and expose them to much higher rates for last-minute spot coverage. Real-time rates can offer a solution for shippers to capture value in any market when contracted backup rates fail to meet their needs.