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The logistics and trucking industry remains very competitive, and today’s businesses are often viewed as integral for efficient supply chain management. During the global pandemic, timely communication, safe freight transport, and competitive pricing were among the top priorities.
As the pandemic subsides, logistics still faces many challenges, including rising fuel charges and customer demand for competitive pricing and shipment transparency. An efficient load board program is vital for the logistics industry to continue exceeding customer demands and facilitate partnerships between brokers and carriers. Software companies may provide custom solutions to enhance load board processes and assist logistics companies in exceeding customer demands and growing revenue in a competitive marketplace.
Load boards are integral to a logistic company’s efficiency because the online platform is the foundation of communication between shippers and freight carriers. Load boards enable companies and consumers to quickly submit information on proposed jobs, such as scheduling dates for pickup and delivery, budgets, and what kind of freight will be transported. Freight brokers can post details about specific freight transportation features, such as climate control and the best available route for timely pickup and delivery.
Load boards provide data to enable businesses and consumers to make more informed decisions. The platform reduces or eliminates the tedious negotiation and contract process with customers and other companies because comparison quotes can be accessed on load boards.
Empty backhauls—trucks returning empty after completing freight delivery—remain a significant expense for the industry. Load boards are critical resources used by freight companies to reduce empty backhauls because they enable the creation of customized routes to maximize opportunities for pickup and delivery of multiple freights, ultimately minimizing companies returning with empty backhauls. This facilitates additional revenue opportunities.
Load boards limit time spent on office tasks and enable logistics brokers to focus on building customer relationships. Forms and documents can be overwhelming for logistics representatives, but automation reduces time spent by personnel, allowing for re-focusing on customer needs.
Expert-level software developers can seamlessly integrate load boards with existing programs, limiting workflow disruption. Two main groups rely on load boards: brokers and carriers.
Brokers communicate and post all relevant data on load boards, including pricing, searching for freight carriers, and pickup and drop-off points. This data is posted in a central location that multiple parties can access to compare rates, routes, and available vehicle options such as trailers and their capacities. Brokers can add additional details, such as cargo weight and dimensions that further assist carriers with route planning. The more detailed a load post is displayed on the board, the opportunity for carriers to select the job will increase.
Carriers utilize load boards to work to ensure fleets are consistently moving. Carriers can review load boards that match their resources, trailer type, route, and weight and schedule transports accordingly. The data accessed eliminates carrier personnel from engaging in customer farming ‘cold calls’ because brokers post requests for carriers to complete job bids.
Truck load boards enable carriers to provide more job opportunities for drivers and according to the U.S. Bureau of Labor Statistics, supply chain management and logistics occupations is projected to grow 28% from 2021-2031. Utilizing load boards will continue making positive contributions to an already thriving industry that plays a crucial role in supplying and managing business needs.
Software developers can seamlessly integrate load boards with existing transportation management (TMS) systems, minimizing workflow disruption. TMS is a significant part of the foundation of a logistics company, and paired with a fully enhanced load board, an existing TMS will be optimized to ultimately boost productively and provide industry personnel and customers with a more efficient experience.
Freight brokers can leverage an enhanced board and achieve the following:
Integrated Compliance Check. Freight brokers can immediately check the compliance standards of all carriers, quickly confirming carriers are adhering to all logistics standards.
Carrier Search. Brokers can cull carrier data quickly with access to pick up and delivery destinations and pricing. Brokers can utilize the load board to match customer criteria with a carrier’s ability to exceed expectations upon job completion.
Freight Factoring. The industry is always challenged when carriers are expecting prompt payments upon freight delivery. Industry-standard payment delays are not uncommon but load boards share access to a third party freight factoring collections, enabling a more expedient payment process as requests for payment are sent directly to brokers, as opposed to the party that receives the final freight delivery. Factoring businesses accept the risk of late payment for a fee, in an attempt to mitigate total non-payments to a carrier.
Real-Time Access to Pricing. Freight delivery quotes can change based on many factors, including volatile fuel costs. Load boards integrated within a TMS can adjust pricing in real-time, eliminating miscommunications with customers and carriers.
Logistics and freight carrier companies remain vital members of the business world. Largely responsible for maintaining business supply chains, logistics will remain an integral part of how companies conduct business. Load boards are invaluable resources connecting brokers, carriers, and consumers to effectively communicate to complete tasks that ultimately keep global businesses running efficiently.
Expert-level software development teams can enhance existing load boards for seamless integration with an existing TMS or design and implement a custom load board solution. With limitless options, load boards remain the answer for any logistics company seeking to streamline operations.
Chetu, Inc. does not affect the opinion of this article. Any mention of specific names for software, companies or individuals does not constitute an endorsement from either party unless otherwise specified. All case studies and blogs are written with the full cooperation, knowledge and participation of the individuals mentioned. This blog should not be construed as legal advice.
Chetu was incorporated in 2000 and is headquartered in Florida. We deliver World-Class Software Development Solutions serving entrepreneurs to Fortune 500 clients. Our services include process and systems design, package implementation, custom development, business intelligence and reporting, systems integration, as well as testing, maintenance and support. Chetu's expertise spans across the entire IT spectrum.
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