Shippers have freight in need of moving — and if they don’t have a private fleet at the ready, they’ll need to work with carriers to get it delivered. But there are times when shippers don’t have easy access to a carrier. That’s where brokers come in.
You may have come across the term ‘TMS’ at some point and asked yourself, ‘What is a TMS system?’ If so, you’re not alone. While shippers are the primary users of TMS systems and generally use them to manage the routing guide for the lanes in their transportation network, TMS systems are also incredibly valuable for carriers and brokers. We’re here to dive deep into all things TMS-related and get to the bottom of why carriers and brokers alike are increasingly using a TMS to take their business to the next level.
Freight brokers are an essential part of the transportation industry, connecting carriers with shippers that need freight hauled.
Thinking about becoming a carrier or owner-operator? It’s important to understand the difference between DOT numbers and MC numbers, as well as the specific requirements for each. A DOT number is necessary for companies involved in interstate commerce, while an MC number is required for transporting regulated commodities. Knowing which one applies to your operation is key to staying compliant and avoiding potential penalties.
For many newcomers to the industry, adapting to the world of trucker terminology can feel a little bit like learning a completely different language. But trucker lingo isn’t that hard to decipher once you get down a few key phrases about the equipment, people, industry, and organizational elements you’re likely to encounter throughout your time in the trucking business.
Do you know the exact tools you need to compete and profit? The Modern Brokerage ebook provides an overview of the tools modern brokerages use and covers the core software components, their use, and how they can rocket your brokerage to the next level.
Learn pricing strategies from experienced industry professionals, covering topics such as market analysis, pricing models, and the factors that affect your strategy.
Freight factoring is a solution in which a business sells its accounts receivables (invoices) to a factoring company at a discount for payment within 24 hours.
Are you still asking yourself, “What is freight factoring going to look like for my business, and is it right for me?”
Starting your own trucking company is a serious undertaking, but with a little planning and prepwork, the process can go a lot more smoothly.
In order to build a successful fleet, you need to be able to efficiently find profitable loads. In a highly competitive freight market, savvy carriers and owner-operators know exactly where to look for premium paying loads and how to make the most of the best platforms, networks, and cost-saving tools.
Running a trucking business means constantly facing challenges, such as rising fuel costs, shortages of qualified drivers, and inconsistent cash flow.