Figuring out the best shipping method means admitting what isn’t working.
Customers don’t want astronomically high shipping costs. They don’t want to wait forever to receive their packages, either. Businesses, on the other hand, want to save money while making sure their consumer base keeps coming back for more. LTL is widely considered by many to be the answer to both parties. Offering a cost-effective model that thrives on close proximity and is easy to track with broker software, LTL is the shipping method you turn to when you want to have the best of all worlds.
What makes it stand out? Here are five things you should know about managing LTL shipments.
The LTL Market Is Booming
Now is a great time to figure out your load board integrations. The LTL market today is estimated at an impressive $35 billion. Back in 2013 trucking alone transported nearly 15 billion tons of cargo. The Bureau Of Labor Statistics has also released a report stating this number will increase to over 18 billion tons once 2040 arrives. Everyone is wanting a little more speed and efficiency in their everyday lives. Changing your brokerware and taking a more critical eye to your transportation methods will make sure your business is always a step ahead.
Customers Actively Seek Out Good Shipping
What do customers seek out when browsing online brands? While the quality of the product or online reviews certainly play a part, affordable shipping is often high on the list. In fact, some customers will avoid a brand entirely if they don’t offer transportation resources that reach their standard. Trucks carry the largest share of freight by value, tons and ton-miles for shipments as we know it. Rail, on the other hand, is considered the dominant mode for tons and ton-miles for shipments between 750 and 2,000 miles.
E-Commerce Is Also On The Rise
What else should you expect when learning about freight management software? Only that you should never assume your work is done. American e-commerce revenue is at around $420 billion and is steadily climbing. This is irregardless of full truckload, less-than-truckload or parcel, as carriers of all types have had to adjust to changes in the retail industry. The convenience and accessibility of e-commerce has forced everyone to change the way they approach shipping, management and customer service. LTL is just one of many manifestations.
Length Of Haul Is Declining
Another reason to overhaul your shipping methods is to save your business some time and effort. According to Satish Jindel, the current president of SJ Consulting Group, the length of haul has steadily been on the decline. Public truckload carriers have reported the average length of haul lowering by nearly 5% between 2011 and 2016. The U.S. Department Of Transportation also saw the value of freight moving from $880 per ton to $1,300 per ton over the next few decades. Higher costs and shorter trips…LTL is a natural answer to the equation.
Broker Systems Increase Your Business’s Reputation
Before you reach out to different carriers and tweak your website, look into managing your LTL shipments with load broker software. Over 12 million trucks, rail cars and locomotives move goods across the transportation network on a daily basis. Keeping track of it all is best done with the aid of a program that’s specifically designed to organize schedules, start points, drop points, pricing and sensitive information. You can even reduce the incident of theft with a more controlled shipping method. According to CargoNet and FreightWatch International around 615 cargo-theft incidents were reported.
You know what works. You know what doesn’t work. Where will you and your business go from here?