TLI White Paper: Freight Brokerage
The freight brokerage industry has evolved over nearly five decades, with Translogistics (TLI) establishing itself over three decades ago in 1994. This white paper aims to discuss a guide to assessing potential freight broker vendors and the benefits of freight brokerage.
Summary
The freight brokerage industry has evolved over nearly five decades, with Translogistics (TLI) establishing
itself over three decades ago in 1994. Throughout this period, TLI has experienced consistent growth,
interspersed with occasional downturns.
Currently, the industry faces one of its most significant downturns, exacerbated by the contrast with the unprecedented highs seen during the COVID-19 pandemic from 2020 to 2022. As in previous cycles, recent market shifts have sparked exaggerated beliefs that “this time is different,” with optimism reaching peaks and pessimism sinking to lows. However, historical patterns suggest that neither extreme perspective is entirely accurate. Nevertheless, a dispassionate examination of recent market trends offers valuable insights. In an era of escalating expenses, shippers must carefully assess potential freight brokerage vendors, and this whitepaper aims to guide them through the process.
Shipper Expectations of a Freight Broker
Selecting the ideal freight broker involves careful consideration as not all brokers offer the same level of
service. Establishing a solid relationship with the right freight broker can alleviate the stress associated with daily delivery requirements. Exceptional freight brokers offer numerous advantages for your business, functioning as genuine partners and collaborating with you to fulfill your needs efficiently, safely, and economically. To identify the most suitable freight broker, it’s crucial to assess various options, prioritizing reliability and the availability of top-notch resources.
Save Money
Authentic Human Services
Delegate Work
Read the Entire White Paper:
White Paper - Freight Brokerage
Frequently Asked Questions:
How do Freight Brokers Find Carriers?
There are variety of ways for a freight brokerage to find carriers to partner with. Here are general details:
- Business Relationships
- Load Boards
- TMS Database
- FMCSA or other Database
- Cold Calling
These sources provide freight brokerages with finding carriers, but additional steps are needed to properly vet out new carriers.
How do Freight Brokers Find Rates?
While there is a difference in LTL and full Truckload pricing methodology, generally rates are negotiated by multiple factors. These factors include: supply and demand, type of freight, services required, business volume, and much more.
What are Some Services Offered by Freight Brokers?
Services vary by broker. A full Third-Party Logistics Solutions Provider will arm a shipper with more services than a traditional broker. A traditional broker will cover shipments, while a 3PL will offer services such as freight invoice auditing, claim services, and other services.
