effective rail rate and contract management system for shippers to stay competitive in the marketplace. It highlights key elements that an ideal rail rate management system should have, including easy and intuitive price administration, advanced rate search and comparison capabilities, a repository of all rates and contracts, simplified obtaining of new rail rates and contracts, a library of key railroad data, the ability to easily share rate information with the team, benchmarking rates over time, and achieving complete rail rate visibility for cost-effectiveness and competitiveness. The article also touches on the differences between tariff rates and contract rates, and introduces the Tratics Tariffs Live data service as a one-stop shop for all rail rates, regardless of carrier, providing an easy-to-use platform for managing rates, tariffs, contracts, and other rail data.
Rail rate management system: A must-have for industrial shippers
An effective rail rate and contract management system is crucial for shippers to stay competitive. Pricing systems are prevalent for other modes of transportation, such as truck or ocean shipping. But for rail shippers, pricing has historically been based on spreadsheet tools. Complete rail rate visibility paired with advanced pricing tools is now available with Tratics software.