We believe that the most useful features and tools are customer-inspired. At Transfix, we’re proud to partner with some of the nation’s most innovative and forward-thinking companies. While working closely with a leader in the retail space, the value proposition of our newest offering, Dynamic Lane Rates, came into focus.
Previously, when a contracted carrier rejected one of their loads, a coordinator would put that load up for auction. They would then email freight brokers, requesting a rate for that particular lane. In the end, they would spend hours trying to find the best quote to cover the lane. Enabling automated spot bidding through a TMS integration with Transfix was explored, but ultimately they couldn’t dedicate the necessary resources to an integration, leaving them stuck with an inefficient process.
As an alternative, we proposed Dynamic Lane Rates. This allowed coordinators to know the rates for their lanes every morning without needing to put the load up for auction or emailing us. When a contract carrier fell through, they would first refer to our Dynamic Lane Rates spreadsheet before going to the spot market. We were able to save each coordinator over three hours a day, while lowering their operational spend by an average of 16% per load.
Additionally, this spreadsheet can be offered with a variety of time horizons, from daily and weekly to monthly and quarterly. In the end, Dynamic Lane Rates is a customized extension of our core booking functionality — we match your load with an optimal carrier and you can easily track your shipments from our online platform every step of the way.
If you believe that your business could benefit from Dynamic Lane Rates, please fill out this form and we’ll reach out to get you set up!