Pricing in the logistics industry is currently under the pressure of the holiday season demand combined with the impact of the coronavirus pandemic.
In Q3 2021 Ti and Upply reported that Road Transport rates had increased for the 5th consecutive quarter and reached historic highs across the European continent. A shortage in cargo space, bottlenecks at major ports around the world, the rising costs of storage, and of course the covid-19 pandemic are some of the factors driving these rates.
During periods like these with high demand and low capacity, prices for freight transport can skyrocket leaving shippers, forwarders and the end customer has no choice but to settle for a really high price.
At TrustedTrucks we have integrated an AI-based pricing engine into the Quotation Request feature. The pricing engine aims to ensure that transports have a fair benchmark price range.
The pricing engine works by providing a recommended price for a particular transport based on parameters such as distance, loading meters, and weight. This makes sure that there is a fair price estimation for both parties on TrustedTrucks – forwarders, and carriers.