One of the primary reasons why shippers choose rail over truck for moving their freight is the lower price that rail shipping provides. To make sure that shippers have the best prices possible, price visibility across railroads is a must-have. Price visibility in the case of rail shipping can be defined as having a full view of all your rail transportation alternatives per shipment across your product lines.
Comprehensive price visibility has been elusive for carload rail shippers for many reasons, including the large number of railroads, which use different systems, with disparate pricing methodologies, and provide prices in non-user-friendly formats. This has made it difficult to get a complete picture of rail rates, which can lead to missed opportunities to reduce costs.
Gaining complete rail price visibility allows you to make optimal shipping decisions. It is critical to making informed decisions about transportation alternatives. For rail shippers, this includes considering all alternative options, including rail carriers, routes, and sourcing options. By having access to all applicable rates and routes from all carriers in one place, businesses can respond quickly to market opportunities and beat their competition.
To achieve full rate visibility, rail shippers need to make use of software tools such as a rail rate management platform. Such solutions provide a single gateway for rates from all carriers, serving as a single source of truth for rates from all railroads. This way shippers can speed up the sales process, making it easier and more efficient to compare rates and choose the best option for any new sales opportunities. The advanced search capabilities that software tools provide allow businesses to find carrier rates quickly and easily, with the added bonus of automatic updates as carriers make changes. This helps businesses stay up-to-date and informed, reducing the risk of missed opportunities.
Rail rate systems can help bridge the information gap and help shippers save money and stay competitive. Shippers can choose to deploy solutions such as Tratics, a rail rate management platform that enables logistics teams to manage rail rates in one place and in real time. A key offering from our software is the ability to quickly find all possible Rule 11 rates for any of your lanes. The Tratics rail rate API data services can integrate rates data across ERP systems, so you can seamlessly manage the costs of shipping by rail for all your shipments. Here are some of the key benefits of complete price visibility via rate management software in rail freight shipping:
Comprehensive Pricing Data Coverage: Shippers have access to all relevant rate data from all carriers, providing a comprehensive view of all transportation alternatives per shipment across their product lines.
Advanced Rate Search and Comparison Capabilities: The advanced search capabilities of rail rate management software make it easy for businesses to find carrier rates quickly and easily, with automatic updates to ensure they stay up-to-date and informed.
Ability to Handle Complex Rate Terms and Conditions: Rail rate management software can handle complex rate terms and conditions, making it easier for shippers to compare rates and choose the best option for their shipment.
Ability to Track Changes to Rates and Notify Shippers Promptly: The software can track changes to rates and notify shippers promptly, reducing the risk of missed opportunities and ensuring that businesses are always making informed decisions.
Using a rail rate management solution provides your organization with complete price visibility that enables you to have a clear understanding of rail shipping costs. Reach out to our team for additional information on how Tratics can help you achieve full rail price visibility.