filter-solution-freight-brokerage

Near real-time load tracking and freight visibility ensure shippers know where their freight is at all times. However, providing visibility can be a challenge in freight brokerage. Brokers aggregate capacity from carriers of all sizes; those carriers operate different systems and have different tech-related capabilities.

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Freight brokers play a critical role in connecting shippers with available capacity, but finding the right freight broker can be challenging. Over a thousand brokers are in the market, ranging from multi-billion-dollar corporations to solo operators working from home. The right broker can create a competitive advantage, offering breadth and depth of service, optimized solutions and business insights.

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Technology can be a differentiator among freight brokers, and tech investments continue to advance. Brian Kenney, vice president of brokerage for Penske Logistics, said he is seeing an emphasis on technology that can improve automation, compliance and tracking. Advancements in those three areas can increase efficiency, streamline communication and ensure the secure movement of goods.

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Spot and contract freight play essential roles in the movement of goods, and both options offer different value propositions for shippers. Recently, freight market volatility has challenged both shippers and carriers with fluctuating demand, natural disasters, economic shifts and more, making it difficult to forecast costs accurately.

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International freight forwarding is a spot-driven market with prices changing week to week and month to month, and shippers are constantly looking to get the best value for their freight spend. At the same time, they are seeking increased visibility, seamless customs clearance and a single source of information.

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The supply chain is increasingly complex and demanding, and there is no one-size-fits-all solution for moving freight. In today’s demanding freight environment, shippers are turning to a range of solutions to get the efficiency and agility they need at the optimal price point. Third-party solutions can complement shippers’ in-house capabilities or even other providers if companies source multiple partners.

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Effective supply chains require agility, and freight brokerage offers the flexibility shippers need as they respond to market changes, surges in demand, and planned or unplanned growth. Supplementing existing transportation modes or lanes is common for shippers, especially with the supply chain challenges we face today, and brokers can help find additional capacity when it’s needed.

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Freight brokerages like those operated by Penske Logistics can serve as strategic partners for shippers and carriers, matching available trucking capacity with freight. Shippers commonly utilize a mix of transportation options to fill capacity gaps and will work with brokers to aggregate capacity and access a larger pool of carriers. Penske Logistics brokerage solutions provide another option for shippers to secure capacity and move goods.

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The terms "freight broker" and "freight forwarder" are often used interchangeably when people are discussing the movement of goods. But there are concrete differences between the two that go beyond simple semantics. Keep reading for answers to some of our most frequently asked questions.

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Freight forwarding – moving freight between international locations – has highly regulated legal and country-specific stipulations that must be managed appropriately to ensure the seamless movement of cargo.

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Many shippers have abandoned the strategy of focusing on asset-based carriers and are now loading their routing guides with brokers as the choice of record.

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Do you ship smaller loads that don't require an entire trailer? If so, it may be time to explore less-than-truckload (LTL) shipments. LTL combines smaller shipments into one trailer. That saves money, because shippers using LTL don't pay for empty trailer space. LTL shipments also can improve flexibility and efficiency.

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