Top 3 Reasons Why Shippers Should Integrate Dynamic Freight Pricing Into Their TMS

Dynamic freight pricing improves shippers ability to secure capacity and monitor costs.

Even with tight capacity and spiking tender rejection rates, shippers still need competitive rates with carriers they can rely on. Integrating API-enabled dynamic freight pricing and order booking tools into your TMS is a direct way to ensure you’re always able to find and choose the best-vetted carrier to move your freight – regardless of market conditions.

Dynamic freight pricing uses real-time market-based data to provide shippers access to flexible capacity and up-to-date rates. Companies that leverage dynamic freight pricing can tender a load once, get the best possible price, and be confident in their load matching process. This kind of strategic decision-making will not only improve the efficiency of your day-to-day operations, but it will also give you a more accurate understanding of how certain lanes, specific origins, and different modes impact transportation costs.
Here are the top three reasons why shippers should integrate dynamic freight pricing into their TMS:

1. Secure flexible, reliable capacity

With instant visibility into market-appropriate quotes for any lane, shippers will increase the variety of price and service options available to them, ensuring their freight is covered when other carriers can’t. And since market rates frequently fluctuate, you can also be confident knowing you’re securing accurate real-time market pricing that accounts for varying conditions like seasonality, fuel, weather, and driver availability.

Calculate your potential Saving While Using an enterprise TMS

2. Lower freight costs

Shippers can also use dynamic freight pricing to compare carrier rates with average lane rates and assess how competitive a rate is for a specific load and lane — maximizing their cost savings over time. By bridging the gap between static database information and real-time market insight, you can gain more transparency into your transportation costs, optimize mode selection, and eliminate other inefficiencies.

3. Save time and improve service

Some companies waste time unnecessarily waiting around for backup carriers or brokers to get back to them when their primary carrier rejects a load. If you want to avoid service delays, high tender rejection rates, and costly same-day/next-day expedites, dynamic freight pricing that is integrated into your TMS will help guarantee coverage while also helping you better meet service requirements.

Dynamic Freight Pricing Meets Industry-Leading Technology

Traditional routing guides often offer outdated information that fails to reflect important shifts in key market variables, which leads to late pickups, higher than necessary logistics costs, and missed deliveries. With Loadsmart and MercuryGate’s digital freight TMS Integration, shippers can leverage the benefits of short-term access to capacity and competitive rates, as well as the strategic insights that come with market data.

When you combine this increased visibility into the freight market with powerful transportation management analytics, you’ll end up with a unique perspective you can use to make data-driven decisions, reduce risk, and make your shipping operation perform at its best.

Get more information about Loadsmart & MercuryGate digital freight

Tim Evans
VP of Sales

Leave a Reply

Your email address will not be published. Required fields are marked *