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What Is Freight Class?

GoShip Blog

Not all LTL freight is created equal. Different commodities are categorized according to freight class, and this will affect your shipping rates. To properly calculate LTL shipping costs, all cargo is categorized into 18 freight classes. What is LTL Freight Class? . Freight Class . per cubic foot .

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SONAR Indices & Insights: Monitor these SONAR indices to improve trucking revenue and profits

FreightWaves SONAR

These indices are in SONAR, the freight forecasting platform from FreightWaves. . There are three indices that provide trucking leaders the freight and trucking data they need to build freight KPIs that keep abreast of revenue in specific granularities. Let’s teach you what each index measures. .

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SONAR Indices & Insights: Making a trucking business profitable by monitoring these operational trucking KPIs

FreightWaves SONAR

These indices are in SONAR, the freight forecasting platform from FreightWaves. . What are the SONAR indices that aid in protecting trucking business profits? OPRAT is a measure of how much of every dollar received from customers is spent on moving the freight. Operating Ratio (OPRAT). Reefer company fleet – RCF.

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How LTL shipping rates work and how to track trends developing in long-term pricing agreements

FreightWaves SONAR

Less-than-truckload shipping, also known as LTL shipping, is nothing new within the transportation and shipping industry, but it has become more of a game-changer in recent years with freight rate prediction. LTL shipping rates would historically depend on freight class and the cost per hundredweight .

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What Are the Different Types of Freight Rates?

GoShip Blog

The final price of shipping cargo, or a freight rate, is one of the most important concerns for shippers. The key to getting a good freight rate is understanding how the different freight rates are formed. Truckload vs LTL Freight Rates. That means distance primarily determines your freight rate. Accessorials.

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SONAR Indices & Insights: Improve Freight Shipping Procurement with SONAR SCI’s Lane Acuity Plus

FreightWaves SONAR

The introduction of this first application within SONAR SCI was built with leaders at companies that spend millions of dollars on freight shipping. WHAT IS LANE ACUITY PLUS? Watch “This Week in SONAR” to hear from Craig Fuller and Zach Strickland. These lower scores show that the lane is more volatile than stable (i.e.

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7 ways freight tech reduces operations costs and improves profits for carriers

FreightWaves SONAR

Although many carriers have worked diligently towards reducing operational costs and increasing profit margins, there is still work to do for the top for-hire truckload freight carriers to improve. While descriptive analytics can help carriers understand what happened, knowing when to refuse loads or charge a higher cost can be difficult.