Is the brief uplift in shipments for large LTL carriers like Old Dominion Freight Line a dawn of recovery, or just a flash in the dark?
📌 JBF PERSPECTIVE shared by Mike Wolf
The Basic Law of Supply and Demand is at work here: even though overall demand appears soft - it is not enough to offset the evaporated supply of Yellow's four LTL subsidiaries, which handled about 7% of total US LTL shipments.
Shippers need to stay keener than ever in the LTL space, as many LTL carriers are working diligently to control the mix of freight to their liking (profitability).
While the GRIs get the headlines, the real battle is in the mix of freight and finding the right carrier match for each shipment.
As usual, don't overlook the fuel surcharge and the application of the other key accessorial charges. Put yourself in the shoes of the LTL carrier and design a solution so each carrier gets the type and amount of freight they can best service.
Essentially, set yourself up to negotiate from the position of being a 'matchmaker.'
Use your TMS to execute and track so you can continuously improve your performance against your goals; this will lead to an improved LTL carrier price/performance mix.
Every LTL shipment deserves the right carrier, just as every LTL carrier earns the right shipment-based cost/service.
For the next 3 to 6 months, plan to be flexible as the LTL shuffle is projected to take some time to settle down.
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Read the full story by William Cassidy over at JOC: https://lnkd.in/ek-deF2e
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