FreightWaves SONAR Outbound Tender Volume Index (OTVI) is a measurement of electronic offers from shippers to truckload carriers for the transport of goods. OTVI is an indicator of raw demand for trucking capacity. Truckload freight volume is a barometer for business activity around physical goods required by businesses and consumers.
Uniquely important, tender data is a leading indicator of raw demand. In SONAR, tender data shows users future freight movement. Compared to freight payment data, which is reported after freight is delivered, tender data is a more up-to-date and reliable indicator of market demand.
SONAR is the only analytics platform that offers tender data. A critical need for supply chain analysts and logistics professionals, SONAR equips users with an unparalleled competitive advantage.
Shippers, freight brokers, fleet managers, transportation executives, owner-operators, economists, financial analysts, investors and bankers rely on this data. The OTVI dashboards allow supply chain teams to visualize freight movement patterns, volatility and price movement.
FreightWaves SONAR’S Outbound Tender Volume Index helps users identify freight volumes that are shipping at national, regional, or market granularity. OTVI allows users to see where demand for trucks is increasing or decreasing.
Fluctuations in OTVI correspond to rates paid by shippers to carriers. An increase in freight volumes tends to increase carrier rates. A decline in freight volumes tends to decrease carrier rates. Users view OTVI data on a U.S. map, tree map, or chart.
This index symbolizes a strong correlation with macroeconomic factors like goods spending and retail sales.
