Inxeption's new LaneLock is a digitally-enabled alternative to truckload RFQs
CUPERTINO, Calif., Aug. 17, 2022 /PRNewswire-PRWeb/ -- Truckload and LTL pricing data from Inxeption, the leader in Industrial Commerce and supply chain digitization, shows that while pandemic-era freight pricing may be softening, the cost of shipping goods by both truck and ocean remains high.
"After being crunched for capacity earlier in the year, both truckload and LTL capacity constraints are loosening," said Roberta Tamburrino, Inxeption's senior vice president of logistics operations.
"Truckload rates remain overinflated and higher than they should be, but we're at the precipice of a rate drop," she said. "LTL is close to firm for another quarter, although we have also seen some carriers increasing their rates."
While truckload and LTL rates are softening in the current market, contract pricing is still relatively high. Inxeption recently measured a slight drop in truckload rates–a downward progression that is likely to continue.
To allow retailers and other shippers to take advantage of more stable contract pricing, Inxeption has introduced LaneLock, a digitally-enabled alternative to traditional truckload RFQs. Inxeption members can now lock in fixed rates on committed high-volume lanes in addition to executing spot shipments.
"Traditional RFQs and bid boards don't solve for today's complex and ever-evolving truckload marketplace," said Josh Allen, Inxeption's Chief Commercial Officer. "Bid cycles take months. LaneLock is instantaneous. Instead of riding out price volatility when the market is tight, our customers can leverage our on-demand platform to lock in member-exclusive rates on consistent, reliable truckload capacity. In today's market, it's a game-changer."
Inxeption's on-demand, cloud-based transportation ecosystem provides real-time rates for parcel, LTL, full truckload and ocean shipments as well as centralized invoicing and multimodal analytics. Truckload shippers can now select the option of spot or LaneLock pricing at the time of booking.
Ali Dahdoul, CFO of Dahdoul Textiles, uses Inxeption because it levels the playing field, giving his business the same logistics opportunities as large corporations.
"Once we started working with Inxeption, we got introduced to so many companies," he said. "Now, we get to work with top-notch carriers."
Technology like LaneLock is the key to strengthening the supply chain marketplace after a tough couple of years. Tamburrino believes that no matter how freight rates fluctuate in the near term, the supply chain industry needs to abandon familiarity in favor of creativity so as to not repeat pre-pandemic patterns, such as just-in-time inventory strategies, which exacerbate vulnerabilities at consumers' expense.
"The industry should stop addressing new paradigms and problems with technology that has not really changed much in two decades," she said. "Challenging norms is the only way the supply chain will continue to meet the dynamic demands of the market."
Contact Inxeption to receive real-time spot and contract quotes for truckload moves.
About Inxeption
Inxeption is the Industrial Commerce SuperApp. Its secure and scalable cloud-based digital commerce platform brings Capital, Data, Products and Services on-demand for Industrial and supply chain businesses. Companies of any size in any industry can drive more sales, gain operational visibility, and realize cost savings. Inxeption Commerce Partners enjoy access to sell products on the Inxeption B2B marketplace and to develop new online commerce channels, as well as valuable applications that simplify and streamline logistics and other operations. Inxeption's challenge to the Industrial sector is: Let's Do Business Better.
Media Contact
Jon Ross, Inxeption, 408-461-5275, [email protected]
SOURCE Inxeption
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