TLI White Paper: Freight Brokerage
The freight brokerage industry has evolved over nearly five decades, with Translogistics (TLI) establishing itself over three decades ago in 1994. This white paper aims to discuss a guide to assessing potential freight broker vendors and the benefits of freight brokerage.
White Paper Summary
The freight brokerage industry has evolved over the past three decades, with Translogistics (TLI) establishing itself in 1994. Since then, TLI has experienced steady growth, punctuated with major service and technology upgrades.
For shippers, this market weakness presents a unique opportunity. Requesting proposals (RFPs) and sharing shipping data with TLI now can unlock competitive advantages, as carriers and brokers adjust pricing and capacity to the softer market. A clear-eyed assessment of recent trends and available partners is essential. In an environment of rising costs, this whitepaper guides shippers through evaluating freight brokerage partners and strategically leveraging the current market, and services to their benefit.
Shipper Expectations of a Freight Broker
Selecting the ideal freight broker involves careful consideration as not all brokers offer the same level of
service. Establishing a solid relationship with the right freight broker can alleviate the stress associated with daily delivery requirements. Exceptional freight brokers offer numerous advantages for your business, functioning as genuine partners and collaborating with you to fulfill your needs efficiently, safely, and economically. To identify the most suitable freight broker, it’s crucial to assess various options, prioritizing reliability and the availability of top-notch resources.
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White Paper - Freight Brokerage
Frequently Asked Questions:
How do Freight Brokers Find Carriers?
There are variety of ways for a freight brokerage to find carriers to partner with. Here are general details:
- Business Relationships
- Load Boards
- TMS Database
- FMCSA or other Database
- Cold Calling
These sources provide freight brokerages with finding carriers, but additional steps are needed to properly vet out new carriers.
How do Freight Brokers Find Rates?
While there is a difference in LTL and full Truckload pricing methodology, generally rates are negotiated by multiple factors. These factors include: supply and demand, type of freight, services required, business volume, and much more.
What are Some Services Offered by Freight Brokers?
Services vary by broker. A full Third-Party Logistics Solutions Provider will arm a shipper with more services than a traditional broker. A traditional broker will cover shipments, while a 3PL will offer services such as freight invoice auditing, claim services, and other services.