The LTL shipping market has been rocked by changes in the last few years. The COVID-19 pandemic, the rise of e-commerce, and the explosion of LTL demand have all contributed to an industry scrambling to adapt to the new shipping landscape. However, with change comes opportunity, and the expansion and digitization of shipping and logistics are leading to a variety of innovations that are reshaping the industry. Technological advances have made LTL freight more efficient and viable than ever before, and the new carriers and 3PLs entering the marketplace are working to increase capacities and meet the new demand for more volume and speed. Today, we are going to look at some of the latest innovations, technologies, and players in the market that are changing business models, methods, and outlooks.
One of the most significant innovations that has changed the way shippers and carriers move cargo is actually tied to logistics. The pandemic resulted in labor and equipment shortages, increased safety protocols, and supply chain disruptions around the globe. With the high number of shipping delays occurring, many businesses struggled to maintain inventory or keep up supply lines for necessary manufacturing materials and components. To combat frequent delays, a lot of companies opted to shift their focus toward LTL shipping in order to send smaller, more frequent shipments and keep supply lines moving.
In addition, many retailers began using on-demand warehousing, which allows them to apply the LTL shipping model to the warehouse space. To save money and avoid wasting unused space and personnel, companies temporarily rent shared space in warehouses to house inventory. Like LTL freight, this allows businesses to be flexible and agile regarding their warehousing budget and can change the amount of space they require for inventory as the inventory grows or shrinks. This innovation allows businesses to combine smaller, more frequent LTL shipments with smaller warehouse spaces, allowing them to avoid managing too much product at once, keeping logistics costs down and supply chains flowing.
3PL companies like Koho are leading the way toward a more technologically advanced and automated LTL industry, and more changes are on the horizon in the next few years. Increased automation benefits both shippers and carriers and can be a huge factor in reducing transit times, ensuring accurate documentation and reporting, and avoiding delays and loss caused by human errors. Packaging, weighing, and warehousing also benefit from increased automation, as more technologies are being introduced that make the logistics process more accurate and more efficient.
3PLs are also spearheading digital online shipping platforms and making Transportation Management Systems accessible to smaller and mid-sized companies. 3PLs like Koho offer online platforms that are intuitive, powerful, and connective. These platforms put the whole process of LTL shipping in one place, from quote to delivery, and provide the perfect way for shippers and carriers to do business.
Koho’s online shipping platform allows shippers to gain access to a variety of trusted carriers, enter all the information about their shipment to get an accurate set of quotes, and instantly generate the necessary paperwork and documentation for their cargo. Shippers can track their shipments, communicate with their carrier if there is an issue, and reference past orders made through the system. 3PLs are putting the power of technology in the hands of shippers and carriers and facilitating more efficient, faster, and more accurate ways of shipping LTL freight.
In addition to new technologies, new companies are also entering the LTL market. With demand continuing to rise and capacities still tight, new carriers and 3PL startups are jumping in to pick up the slack. With fresh faces come fresh takes on the industry, which will result in new business models and innovative ideas about how to approach LTL shipping. Solutions to pricing issues, density models, freight class discrepancies, and bottlenecks are sure to be addressed by these new players in the LTL freight game, so we are sure to see more innovations in the industry soon.
The LTL shipping market has been rocked by changes in the last few years. The COVID-19 pandemic, the rise of e-commerce, and the explosion of LTL demand have all contributed to an industry scrambling to adapt to the new shipping landscape. However, with change comes opportunity, and the expansion and digitization of shipping and logistics are leading to a variety of innovations that are reshaping the industry. Technological advances have made LTL freight more efficient and viable than ever before, and the new carriers and 3PLs entering the marketplace are working to increase capacities and meet the new demand for more volume and speed. Today, we are going to look at some of the latest innovations, technologies, and players in the market that are changing business models, methods, and outlooks.
One of the most significant innovations that has changed the way shippers and carriers move cargo is actually tied to logistics. The pandemic resulted in labor and equipment shortages, increased safety protocols, and supply chain disruptions around the globe. With the high number of shipping delays occurring, many businesses struggled to maintain inventory or keep up supply lines for necessary manufacturing materials and components. To combat frequent delays, a lot of companies opted to shift their focus toward LTL shipping in order to send smaller, more frequent shipments and keep supply lines moving.
In addition, many retailers began using on-demand warehousing, which allows them to apply the LTL shipping model to the warehouse space. To save money and avoid wasting unused space and personnel, companies temporarily rent shared space in warehouses to house inventory. Like LTL freight, this allows businesses to be flexible and agile regarding their warehousing budget and can change the amount of space they require for inventory as the inventory grows or shrinks. This innovation allows businesses to combine smaller, more frequent LTL shipments with smaller warehouse spaces, allowing them to avoid managing too much product at once, keeping logistics costs down and supply chains flowing.
3PL companies like Koho are leading the way toward a more technologically advanced and automated LTL industry, and more changes are on the horizon in the next few years. Increased automation benefits both shippers and carriers and can be a huge factor in reducing transit times, ensuring accurate documentation and reporting, and avoiding delays and loss caused by human errors. Packaging, weighing, and warehousing also benefit from increased automation, as more technologies are being introduced that make the logistics process more accurate and more efficient.
3PLs are also spearheading digital online shipping platforms and making Transportation Management Systems accessible to smaller and mid-sized companies. 3PLs like Koho offer online platforms that are intuitive, powerful, and connective. These platforms put the whole process of LTL shipping in one place, from quote to delivery, and provide the perfect way for shippers and carriers to do business.
Koho’s online shipping platform allows shippers to gain access to a variety of trusted carriers, enter all the information about their shipment to get an accurate set of quotes, and instantly generate the necessary paperwork and documentation for their cargo. Shippers can track their shipments, communicate with their carrier if there is an issue, and reference past orders made through the system. 3PLs are putting the power of technology in the hands of shippers and carriers and facilitating more efficient, faster, and more accurate ways of shipping LTL freight.
In addition to new technologies, new companies are also entering the LTL market. With demand continuing to rise and capacities still tight, new carriers and 3PL startups are jumping in to pick up the slack. With fresh faces come fresh takes on the industry, which will result in new business models and innovative ideas about how to approach LTL shipping. Solutions to pricing issues, density models, freight class discrepancies, and bottlenecks are sure to be addressed by these new players in the LTL freight game, so we are sure to see more innovations in the industry soon.
