Ocean Shipments Report: How it Adds Value to Plan for Capacity and Rates
SONAR 7.0 featured the release of our highly anticipated Ocean Shipments Report App. This is one of the best leading indicators ever brought to market for the ocean container industry as well as for anyone involved in the domestic US port, intermodal, or trucking markets. What does the ocean shipments report do? The ocean shipment […]
Truckload volumes and warehousing – Freight Forecasting (video)
Lead Economist Anthony Smith joins Freight Forecasting host Michael Vincent on this episode. They discuss the current spike in volumes and warehouse inventories as they relate to imports. Watch the episode below: Examples include comparisons of volume in Los Angeles to the rest of the nation, the year-over-year increase in intermodal rail out of Los […]
The Top 15 Trucking Songs
Prior to the COVID-19 pandemic, shipping OTR volumes were well on their way to breaking records. According to a February FreightWaves post, “It is still early in the year, and there are still plenty of hurdles to overcome for carriers, but an often overlooked pattern has changed since last summer that may help their bottom […]
Five characteristics of the best freight brokers
Have you ever heard of the Pareto rule? It is the principle that states for almost all systems the top 20% of performers in any portfolio generate 80% of the results. The Pareto rule holds for your portfolio of customers, basket of stocks, brands managed, and SKUs. It is especially true for all sales teams. […]
International trade – Freight Forecasting (video)
Freight Forecasting host Michael Vincent is joined on this episode by Zach Strickland, FreightWaves’ Director of Freight Market Intelligence. Zach shows viewers how to build SONAR charts centered around international trade. Watch the episode below: International trade is a leading indicator of domestic surface transportation. Among the tools in SONAR that relate to international trade […]
How Freight Analytics & Data Make 3PLs More Competitive
Differentiating your services as a third-party logistics provider (3PL) depends on your ability to understand the market and respond. In today’s world, the slightest of influences may contribute to sudden fluctuations within the market. As a result, modern 3PLs must evolve to stay competitive, applying freight data to increase competitive advantage. “Although demand for logistics […]
Cost vs. Volume – Freight Forecasting (video)
Zach Strickland, FreightWaves’ Director of Freight Market Intelligence (and the “Sultan of SONAR”) joins Freight Forecasting host Michael Vincent on this episode. Zach and Michael discuss why freight demand is not enough to forecast rates. A major advantage of FreightWaves SONAR freight forecasting platform is that it has millions of data points and many, many […]
Five tips to build value in freight broker sales
As Warren Buffett’s famous quote goes, “Price is what you pay, value is what you get.” This is as true in sales as it is in investing. Often sales people in freight get caught in a “price trap.” This scenario is best described as when the sale is based on being the one with the […]
Broker/Carrier 101 – Freight Forecasting (video)
Freight Forecasting host Michael Vincent is joined by Donny Gilbert, FreightWaves’ Market Expert in the brokerage area. They discuss the topic of “Broker/Carrier 101” and freight forecasting from the perspectives of brokers and carriers. While relationships are not always perfect, brokers need carriers and carriers need brokers (and both need shippers). As FreightWaves SONAR shows […]
How to use freight data to become a shipper of choice
Staying competitive remains a top priority for supply chain professionals around the globe. Regardless of industry, knowing how to become a shipper of choice is one of the best ways an organization can keep its freight spend under control. Moreover, shipper of choice status is associated with prestigious operations and quickly attracts carriers, logistics service […]
ECON 101 – Freight Forecasting (video)
Anthony Smith, FreightWaves’ Lead Economist, joins Freight Forecasting host Michael Vincent to explain and illustrate the importance of economic factors and how they can have a great deal of influence on the freight markets and the various modes of freight movement. Anthony and Michael discuss Industrial Production and ISM Diffusion Indices. They also talk about […]
How do freight brokers get paid?
Unlike many sales jobs, freight brokers are normally paid based on the gross margin of loads, rather than the gross revenue number. The reason for this is that gross revenue is not the key metric for a brokerage in any industry. The most important metric is the profitability of each individual buy and sell transaction. […]
Freight brokerage business: how brokers can increase booking per rep throughput
The writing is on the wall for freight brokerage representatives with problems securing bookings and increasing throughput. Throughout 2020, the need for more capacity, faster freight management, and more competitive rates has grown significantly. Moreover, a major freight brokerage must consider the underperforming staff and make business decisions that may lead to financial ruin for […]
Forecasting Inland Markets (video)
Zach Strickland, FreightWaves’ Director of Freight Market Intelligence, joins Freight Forecasting host Michael Vincent to discuss SONAR’s various maritime data points as they relate to and forecast inland freight movements. SONAR provides near-time data sets and information that allow users to better understand the freight market environment in which they compete – and then forecast […]
What is a Freight Forecaster and why are they important? (video)
Freight Forecasting host Michael Vincent introduces viewers to the basics of freight forecasting. From a shipper to an over-the-road truck driver, Michael will explain what freight forecasting is and why you need to forecast. Watch the episode below: The main purposes of forecasting freight is to determine the specific capacity needed to move freight from […]
Infographic: Freight Commodity Statistics
Bureau of Transportation Statistics data shows other fossil fuel products, including coal and petroleum products, were the top commodity by weight at 3.2 billion tons. More than 75% of this commodity is being moved by pipeline. Electronics were the top commodity by value at $2 trillion. Truck was the preferred method of shipment for electronics, […]
What is Freight Consolidation?
How Can Freight Forecasting Aid Consolidation Strategies? Supply chains across the U.S. are experiencing the stresses of trying to fill orders and comply with mandates affecting travel, driver hours and person-to-person contact. Despite the state of the economy, trucking volumes are still up 25% year-over-year in July 2020. Meanwhile, the sudden surge in demand for […]
Lane Scorecard announced as a key FreightWaves SONAR 7.0 enhancement
The Lane Scorecard app is a key enhancement of the launch of FreightWaves SONAR 7.0. “What makes Lane Scorecard unique from bulk lane rate tools on the market is its proprietary SONAR lane scoring, SONAR predictive rates and its spark graphs that allow the user to more easily see past and forecast trends,” announced Craig […]
Freight Rates: 3 reasons shippers who predict rates reduce costs, find capacity
Maintaining control over freight rates has never been easy for shippers. There is an ongoing shift in each of the 135 major U.S. markets – either shippers or carriers have “control” of the market – for a time, until they don’t. Even during times when the industry is described as “a shipper’s market,” figuring out […]
Freight Futures: The Future(s) of Freight
Guests Kyle Lintner, Principal and Managing Partner at K Ratio and Daniel Stanton “Mr. Supply Chain®” join Freight Forecasting host Michael Vincent in a discussion of mid- and long-term freight forecasting and how Trucking Freight Futures can greatly benefit the trucking industry. Freight Forecasting talks Freight Futures in “The Future(s) Of Freight” Episode Watch the […]
