Fleet Management News & Business Info | Commercial Carrier Journal
Issue link: http://read.dmtmag.com/i/201087
technology TransPlace awards lanes to carriers through a strategic bid process. With the lane awards, the 3PL company builds routing guides to minimize the rate spread among carriers should instances arise where additional capacity is needed in certain lanes. Private optimization Third-party logistics providers often use private load boards to expedite the freight matching process with their prequalified carriers. These platforms use a targeted approach for suggesting loads to carriers to get a quick response. Text INFO to 205-289-3554 or visit www.ccjdigital.com/info TransPlace awards lanes to carriers through a strategic bid process. With the lane awards, the 3PL company builds routing guides to minimize the rate spread among carriers should instances arise where additional capacity is needed in certain lanes. TransPlace uses a private load board, or carrier portal, to present loads that typically have a short lead time. The carriers have the option to accept the load automatically at the contracted lane rate or to respond with a bid increase or decrease. This freight selection process can run as fast as every 15 minutes, though the cycle is typically one hour. With this process, shippers instantly can understand market pricing and find carriers with available equipment. Carriers are notified immediately if they win a bid, and the load is dropped into the automated tender- DAT's RateView subscription tool for benchmarking spot and contract rates is designed to give small carriers the same complex lane and pricing analysis that large carriers use for making routing decisions. ing and load tracking process, says Mathew Menner, senior vice president of strategy for TransPlace. The algorithms used by freight matching services to suggest loads might not be as complex as those used by online retailers to encourage more spending, but at least they can increase profits while expediting the process. COMMERCIAL CARRIER JOURNAL | NOVEMBER 2013 49