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The shipping costs have a significant influence on the product’s retail price. Therefore, shippers will look for ways to reduce costs. LTL, or less-than-truckload shipping, is one of the preferred shipping methods when it comes to cutting down costs. However, it isn’t always a viable option. Some shippers obtain an FTL freight quote since this fits their needs better.
How can carriers save money with FTL shipping? This article shares the benefits, limitations, and ways to find the best transportation.
FTL shipping explained
Full truckload or FTL shipping refers to a shipping method where the carrier uses one entire truck for a single shipper. The shipper pays for the truckload and has the whole trailer for their freight. Their goods won’t share space with the carrier’s freight, even if the trailer isn’t full.
This shipping method does not share the trailer between carriers, bringing many benefits. Since only one client has the trailer, there won’t be various stops along the way. This reduces the delivery time and eliminates the risk of damage when handling.
In addition, we share a few tips on how to save money with FTL shipments. You can find the ideal way that suits your business operations and optimize your cost strategy.
1. Know your needs
The cargo size determines the trailer size you need to transport your goods. A standard semi-trailer, usually used for this shipping method, is 48-53 feet long. Determine the trailer size required to accommodate your cargo to optimize the costs.
2. Shop around
Researching the available options when it comes to carriers helps you save money. Find the local companies that operate in your area and check their reviews. The carrier should have experience transporting similar cargo but also understand load to truck ratio.
The research expands to other areas of interest, such as price, turnaround time, special requirements, safety, customer service, and possible limitations. With this, you can find a carrier that meets your expectations.
3. Adopt FTL in your strategy
Making full truckload shipping a part of your strategy helps you reduce the costs. Firstly, you eliminate the risk of damage when handling.
When choosing FTL, you will stick to one reliable and reputable carrier that won’t disappoint you. The long-term collaboration results in reduced prices and additional premium services.
4. Reduce lead time
The lead time refers to the time it takes from departing to arrival. FTL excludes the stops, resulting in a faster delivery process. The shorter lead time will benefit the business, such as customer satisfaction and better turnaround. Carriers provide additional services like priority loading and article scheduling to help your business further.
5. Check different offers
With different carrier companies available on the market, you can shop around for the best rates. Obtain quotes from other companies to get the best value for your money. Also, don’t forget that the cheapest doesn’t always have to mean it is the best option.
The quotes are calculated per mile, with additional services costing more. The carrier rates depend on the market rates, freight classification, fleet availability., fuel, freight weight, and seasonal demand.
It is important to note that some carriers offer discounts if you pay the invoice quickly. Ask about this option to save more money on shipping. In such cases, the deadline is usually no longer than 30 days. If you can manage to cover the invoice in a short time, this brings additional savings for your business.
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