Rate History Analysis
We have added a new tool called "Rate History Analysis" that allows you to quickly determine the revenue and cost of moving freight over a "lane". This new tool can help you:
- Provide quicker, more accurate quotes to your customers.
- Assist you when bidding on lanes of business.
- Better understand the cost basis of your carriers.
- See trends in rates and costs for a particular lane.
- Target lanes that need price increases ... or ... target unprofitable / profitable lanes.
Here is a screen shot of how the Rate History screen looks.
To use the new feature, do the following
- Go to main menu ORDERS and sub-menu Rate History Analysis.
- Enter the Pickup and Delivery city/state (or zip code) to identify the lane
- Enter a radius (up to 100 miles). The system will look at all trips that start within the given radius of the "pick up city/state" location and end within the given radius of the "delivery city/state".
- Choose the billing truck size to filter the results or select ALL truck sizes.
- Choose to look at loads done on your trucks, or brokered to other carriers, or both your trucks and brokered loads.
- Choose whether Fuel Surcharge should be included in the analysis.
- Click the SEARCH button.
The system will then return a summary of all the loads that meet the criteria you selected. It will break the results so that you can see recent information (7 day, 15 day, 30 day) as well as longer term information (60 day, 90 day, 1 year). The resulting table will show:
- Number of completed loads
- Average rate per load charged to the customer
- Average Fuel Surcharge billed
- Average length of haul
- Average rate per mile paid to the carrier/truck
- Average rate per mile charged to the shipper
- Average gross margin per mile
- Gross Margin percentage.
Users can "drill down" on the "last xx days" link to see more details about the orders that make up that section of the table. In the "drill down", users can see the driver/carrier, the shipper details, the revenue break out, the cost break out and the gross margin analysis.
To provide consistent data, not all trips will be included in the analysis. The "Rate History Analysis" will exclude trips that have:
- Multiple pick up and drop points since this can influence miles and rates.
- Split loads since it can influence miles and rates
- Any order where the REVENUE or the COST is missing since a valid gross margin cannot be determined if revenues or costs are missing.
Thanks to Kurt Ladow from Bounce Logistics for this great idea.
It just keeps getting better ... and the best is yet to come!