Infios Launches Freight Rate Index for Businesses

Infios has released a new freight rate index aimed at helping businesses navigate the evolving logistics market. The index offers data-driven insights to optimize transportation costs and strategic decision-making.

Recent freight data indicates an increase in volume coupled with diminishing capacity, potentially signaling the end of a prolonged freight recession and the beginning of an era with dynamic rate fluctuations. This is compounded by rising retail orders, reduced trucking capacity due to bankruptcies and carrier exits, and increased port activity. Fuel costs and general economic uncertainty also impact the sector.

Businesses face challenges in predicting rates and budgeting effectively. The index allows companies to analyze market rates across various transport modes, enhancing their negotiation power. This helps in identifying carriers and selecting the most efficient transportation methods.

"Automation is certainly what a lot of folks strive for today and think about when they consider their processes. Automation really requires capturing expert information and building that into the system to help automate workflows," stated Steve Blough, Senior Vice President of Business Intelligence at Infios. Technological investments, such as artificial intelligence and automation, can reduce freight costs and improve companies' resilience to disruptions.

The Infios freight rate index utilizes anonymized customer data to calculate and provide information on current market rates. The index is updated daily, assisting businesses in improving transparency and efficiency in their transport management.