New technology is transforming the world of freight and transportation, allowing shippers and transportation brokers to follow shipments in real time. The development of transport brokerware helps shippers and carriers to track shipments, and to maintain their security and integrity. Keeping up with industry trends, it tracks smaller shipments or Less Than a Truckload (LTL) shipments.
The need for freight tracking software
Trucks still move the most freight in the U.S., from vegetables to steel. There are around 5.9 million commercial motor vehicle drivers, according to the Federal Motor Carrier Safety Administration. The sheer volume of freight necessitates the development of increasingly complex software to manage operations.
The volume of shipments continues to grow, fueled in part by the expansion of ecommerce. Ecommerce alone generates revenue worth around $423.3 billion and this figure is set to increase. However, such freight can be anywhere from a full truckload, to less-than-truckload (LTL), or even just a parcel. Carriers and shippers need the tools to handle these changes, and freight tracking software provides them.
What is transportation broker software?
There are many different types of transportation broker software. These have become increasingly sophisticated and allow users to carry out functions like managing freight, invoicing and payments. These help to streamline operations and to improve overall efficiency and security.
Depending on the clients? needs and budget, freight brokerware can be used to enter and track loads, search for and contact carriers, compare prices, and even dispatch drivers. It helps shippers to stay on top of industry trends. For example, LTL shipments are becoming more common and freight tracking software helps clients follow these in real time.
Staying on top of industry trends
The LTL market has grown to about $35 billion. Not only has the size of freight shipments declined, so has the distance travelled. According to the President of the SJ Consulting Group, Satish Jindel, it decreased 4% from 2011 to 2016. Brokerware that can track LTL shipments is essential for shippers and carriers in this new environment.
Security of freight has always been a concern, and this is more true now than ever. In just the first three quarters of 2016, 615 cargo-theft incidents were reported, according to CargoNet and FreightWatch International. Freight tracking software that follows shipments in real time can help to guard against theft and tampering.
New freight tracking brokerware gives shippers and carriers control over every aspect of freight and shipping. New retail industry trends like smaller ecommerce shipments create a need for complex and accurate tracking software.