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Before you consider an LTL load, consider the following:
Who is your carrier?
How will your freight be handled from when it leaves your business to the consignee?
Do you have the right technology that will allow you full transparency in locating your shipment at any time?
Is this load cost-effective?
Less-than-truckload shipments or less than load do not require a full truckload due to the smaller nature of the parcel. These are arranged on pallets and can range anywhere from 150 pounds to 10,000 pounds. Depending on the goods, it is important to understand if it makes sense to ship a LTL or wait for to establish a full truck load.
LTL loads can take more time to arrive to its consignee because the carrier ultimately wants to transport a full load truck. It may be more cost-effective to ship a small pallet but it warrants to compare short term and long term savings.
According to Grand View Research, Inc. the logistics market size is forecasted to reach measured by revenue, $233.9 billion 2021 and a compound annual growth rate (CAGR) of 8.3% from 2020 to2027. On the other hand, the trucking industry could be negatively impacted during COVID. With the existent of government stimulus carriers will either decrease their routes, increase their rates or even take advantage of such stimulus loans to improve their business.
There is also the reality that unlicensed and notorious carriers are very much out there taking advantage of the scarcity of drivers.
A logistic provider such as 3PL (third party logistic), can ensure that your carrier is legit, reputable with a active MC# with no insurance claims. In addition, a 3PL can ensure that you shipment is properly handled and delivered safely.
Time is of the essence! So you finally sell your products to the right customer and the right price. I am sure that delivering on your promise to get your goods in a timely fashion, is part of your value proposition. In order to achieve this consistently make sure that your your rate sheet agreement with your carrier is specific on date and time of pick and delivery. Confirm prior to pick up to ensure that your transporter is still on schedule.
Transparency, Visibility and Live! Three words to remember. Knowing where your shipment is should be one of your priorities. Using a TMS (transportation management system) is key. A TMS will allow you and your carrier to be on the same page. Live visual on your on your goods is paramount, as this will show you any delays, allowing you to have transparency with your customer.