An innovative way to deploy the value-intense insights of FreightWaves SONAR’s Lane Signal to understand freight shipments is the Headhaul Lane Score. Unlike SONAR’s Lane Signal, which provides origin and destination data, Lane Score uses that information to create an instant view score that can help front-line staff and managers make urgent decisions and strategic moves more quickly. And the benefits of using Lane Score transcend all transportation segments.
SONAR’s Lane Signal is only the beginning of understanding freight shipments. Recognizing how to assess the freight tender for its attractiveness to transportation service providers is where Lane Score picks up where Lane Signal ends with the following factors in the Lane Score assessment:
It is derived from the interactions of the haul strengths that form the basis of indices that also contribute to Lane Signal. The score itself is scaled 1-36, with lower scores being easier to cover and the higher scores being hardest to cover.
The shipping industry needs
a new metric – the Market Rate –
to end the spot vs contract battle
The 36 range comes from the 36 possible combinations assessed from the exponential varieties derived from:
Lane Score’s insights provide actionable intelligence that can be used to guide transportation management.
Applying the Headhaul Lane Scores as a shipper means recognizing which lanes represent the low-hanging fruit for faster, easier tendering of freight shipments. For shippers, it allows immediate decision-making at the point of tendering a load. This effectively generates significant benefits, including:
Carriers can further maximize resource allocation by applying the Headhaul Lane Score as well, deriving these additional benefits:
The benefits to brokers of applying a Headhaul Lane Score are highly comparable to a mix of benefits among shippers and carriers. These include:
In terms of the value of the Headhaul Lane Score, 3PLs have a unique position. Since a 3PL can combine all characteristics of carriers, brokers, forwarders, software-as-a-service providers, and value-added services, moving toward becoming a “4PL,” the potential insights of a definitive Headhaul Lane Score are immense and include:
With Lane Score’s 36 possible scores and various implications, its impacts are too significant to ignore. Lane Signals data for origin and destination pairs provides vital intelligence. Lane Score gives you exactly what you need for make-or-break decisions that reduce rejections, create the most profitable business state and more. Get a look at Lane Score first hand by scheduling a SONAR demo today.