Freight-pricing software firm SMC³ said this week it has added a volume less-than-truckload (LTL) pricing application programming interface (API) to its suite of freight rating solutions.
The direct-to-carrier volume LTL pricing API solution is delivered via the SMC³ platform and can be used in conjunction with the company's RateWare XL contract rating tool, the company said. SMC³ developed the product to satisfy customer demand for tools to manage pricing challenges resulting from tight market capacity in today's transportation environment.
Shippers and other supply chain stakeholders use volume pricing rates when they need a spot quote for shipments that don't fit within traditional LTL or truckload parameters, the company explained. By using the volume LTL pricing API, customers pay the going rate for the space their freight uses, not a previously agreed upon LTL contract price. This volume LTL freight can move on a carrier's backhaul or chronic empty lanes, the firm added, and is priced at spot-market rates, which can save shippers money.