TransCore DAT announced that it has added customizable benchmarking to its DAT Truckload Rate Index for shippers, freight brokers and for-hire carriers to compare their transportation pricing against current and historical rates offered in the same point-to-point freight lanes.
TransCore DAT says two new tools enable this lane-based and load-based performance analysis. Rate Performance Reports sort, filter and report data for lanes within multiple geographic areas, between a company’s rates and the average competitive rates in those regions. Rate Drill down allows detailed analysis by load, showing all of a company’s loads on a lane compared with the competitive market rate.
TransCore DAT says the new truckload rate benchmarking tools enable freight brokers and for-hire carriers to craft more timely and historically accurate bids on shippers’ requests for pricing as well as measuring their relative competitiveness to the overall market.
DAT Truckload Rate Index is based on two sets of truckload freight rate data. The shipper contract rate database uses rates from more than 12 million actual freight bills between shippers and for-hire carriers per year, while the spot rate database is compiled from more than 500,000 actual freight bills per month between brokers or other intermediaries and carriers.