Truckload Shipping Procurement: How Large Data Sets/AI Aid in Pricing and Capacity Outlooks

Adam RobinsonFreight Market Blog

truckload shipping procurement

Enterprise shippers and freight shipping managers have to plan and prepare for many processes and events that have yet to occur. Outlook and predictive planning are a big part of successful supply chain operations. This is particularly true for truckload shipping procurement. Being able to secure loads and maintain long-term shipping contracts is essential to keeping trucks full and keeping the fleet on the road. According to Supply Chain 24/7, “In the industry right now, there are 10 orders to ship for every available truck; however, a large portion of private fleets are running their assets with a significant amount of empty backhaul miles. Fleet managers often do not have the time to manually find available freight and manage the financials, not to mention incurring the potential risk associated with unqualified shippers.” The problem looms large for shippers and managers across the supply chain network, but the answer is out there  – better utilization of smart data and automated processes. Read on to see how these innovations can help with truckload shipping procurement.

Shipping managers continue to struggle with capacity procurement during this time of industry-wide disruption 

There are a number of reasons why ensuring full trucking capacity is essential for ongoing growth and success within the truck and trailer industry, particularly when it comes to truckload shipping procurement, including:

  • Empty loads equal wasted resources. When trucks make return trips empty, it often ends up costing more to drive that truck home than it makes with its freight load.
  • Outdated communications affect contracts. Poor capacity acquisition comes down to poor communication and freight contracts negotiation due to outdated methods.
  • Deadhaul miles rack up shipping costs. Every mile driven costs the company in fuel, maintenance, man hours, shipping fees, etc. – and it can all quickly add up.
  • Poor data analytics cause disruptions. The inability to properly review data and make educated predictions can exacerbate unplanned disruptions and errors.

Truckload shipping procurement is a complicated process, but it can be made easier with automated data analytics and improved contract and bid responses.

Access to smart data and analytics along with an easy-to-use dashboard can simplify load acquisition

Securing full freight loads continues to be an issue for many fleet managers, especially with a shortage of drivers and capacity carriers in most niche markets. The issue comes when return trips and secondary and tertiary loads are considered. Truckload shipping procurement needs to include all legs of the trip. Having real-time freight data easily accessible and up-to-date freight analytics makes load acquisition faster and easier. The best contracts and the most profitable loads can be secured with less time and resource investment required. Automated analysis and mobile dashboard access keep team members connected and the fleet rolling along smoothly and efficiently. 

Benefits of real-time data and advanced technology for truckload shipping procurement by shippers

Seeing the benefits of data analytics and smart capacity analysis makes it easier for shippers to get on board with the move towards more modern and innovative data tracking and communications. Here are just a few of the benefits that can be enjoyed in terms of easier truckload shipping procurement:

  • Easy sharing of vital freight data points among all team members.
  • Faster response to disruptions, deviations and errors.
  • Improved freight trucking revenue profit margins.
  • Greater opportunities for collaboration and load acquisition.  
  • Improved communication lines inside and outside the shipping network.
  • Strong and more accurate freight rate predictions and planning guides.
  • Faster growth and improved services across the supply chain.

Truckload shipping procurement is the starting point for the entire supply chain. Automated processes and innovative data sharing options can keep the network operating with maximum profit margins.

Take the step from old and outdated to new and innovative load procurement with freight forecasting and advanced data analytics

For many shippers and logistics managers today, truckload shipping procurement continues to be one of the most challenging aspects of the job. Making the move from outdated processes and embracing both smart data analysis and AI-assisted capacity can make all the difference in the world. Protect investments, increase profits and be better prepared for tomorrow with help from the right freight forecasting platform. Request a FreightWaves SONAR demo today by clicking the button below to get started.