All carriers know that unfavorable market conditions aren’t a matter of if but when simply due to the natural ebbs and flows of the supply chain. That time may have unfortunately come for carriers.
Shippers have taken the upper hand in rate negotiation as slowing consumer spending and dwindling tender rejections are putting carriers into a corner. With higher operating costs due to inflation added to the mix, the pressure is coming from all angles.
Rocky times won’t last forever, though, and Trucker Tools CEO Kary Jablonski is remaining optimistic that carriers can overcome the difficulties of today and the near future with the help of visibility tools.
“I think everyone is realizing we’re in a very cyclical industry. It’s stressful for sure when the market shifts, but I spoke with a lot of carriers that feel assured that with the right tools and practices they’re going to be able to weather this storm,” Jablonski said.
For the past five years, carriers have turned to technology-based solutions to procure loads, and it’s clear why. Outdated methods of finding loads, through phone calls and emails, are cumbersome and time-consuming. Technology solutions, like the ones offered by Trucker Tools, help shippers and carriers achieve visibility and quickly book available trucks and nearby loads with the power of real-time, early and accurate data.
“As the market turns, carriers are going to jump on loads faster and faster. The consequences of going after a stale load that might not be available anymore, that might’ve changed, are greater. There’s a really high opportunity cost,” Jablonski said.
Thanks to its broker TMS integration, Trucker Tools’ load planning platform allows carriers to quickly and digitally find and book loads ahead of time without the worry of inaccurate or outdated information.
Carriers can secure loads with Trucker Tools using its Book-It-Now tool to accept the rate the broker has set or counter it with a different rate. The carrier will then receive a quick reply all within the same platform.
As customers increasingly expect shorter delivery times, the entire supply chain feels the pressure, and carriers are expected to provide tracking updates during the entire delivery process.
With Trucker Tools, carriers are able to offer shippers and brokers this transparency through the system’s tracking tools. Most tracking visibility providers largely focus on ELDs, but Trucker Tools has long focused on both ELDs and mobile experience, providing real-time updates every five minutes for either tracking mode a carrier chooses.
Trucker Tools also recently announced that it will partner with FreightWaves to make SONAR’s TRAC data available to its carriers to monitor market rates as conditions change and allow them to make more informed business decisions.
“As we integrate SONAR’s TRAC data and make it freely available to our small carriers and owner-operators, it’s another massive tool in their toolkit that will help them better evaluate if certain loads are for them and how quickly they should jump on them given what the rates look like,” Jablonski said.
Trucker Tools also offers a strong mobile app, providing drivers with nearby fuel prices along their routes, ultimately lowering operations costs. In a time of spiraling inflation, alleviating fuel spending is essential.
“We’re going to get through this together. Relying on tools like Trucker Tools can help you get through and come out a little bit smarter on the back end,” Jablonski said.
To learn more about Trucker Tools’ visibility solutions, visit its website.