Truck Load Bids: What is it and how does it work?
Finding the right loads is crucial for fleet managers and truck drivers in order to ensure greater productivity and operational cost reduction. While there are a number of ways to find loads, cargo bidding to find loads for trucks is a common way to secure loads at competitive prices. Bid on shipping loads can be done using load boards, freight brokers, networking, directly connecting with local shippers and freight bidding sites.
The process is quite simple, the available loads are communicated if it is conducted manually or posted online in case of online truck load bidding and the truck owners can choose the convenient and cost effective routes and pick up loads along the way at competitive prices by winning the auction.
Why do you need cargo bidding to find loads for trucks?
Empty miles is a major challenge for fleet managers and truck owners as vehicles return to the destination without any loads and no revenue along with additional operational costs such as fuel and wages for drivers. Therefore, there is a need to find return loads or pick up loads along the destined routes to avoid empty miles. While manual load booking is a tedious process as it lacks real-time visibility, having freight contracts in place helps with finding loads on a regular basis. Bid on shipping loads is one of the best ways to have freight contracts and this can be done through freight bidding sites or freight brokers.
What are the best strategies for truckload bidding?
- Market Trends: One of the best strategies to succeed in truckload bidding is to stay informed about the current and potential market trends. Analyzing the price fluctuations in the recent past for specific routes helps to bid on shipping loads at reasonable and yet profitable rates for finding the most convenient loads with better returns.
- Mini-Bids: Most truck owners wait for huge loads while bidding but these loads are available on a regular basis. However, mini-bids can be equally profitable and keep trucks full and running without empty miles.
- Bidding Software: Using a bidding software helps to access relevant information regarding the routes, load availability and potential rates in order to draft a cost estimation and allocate the right trucks for the loads for better productivity and profit.
The benefits of online load booking over bidding
Cargo bidding to find loads for trucks is an efficient way to avoid empty miles. However, there are a few drawbacks associated with bids on shipping loads. In case of manual bidding, truck owners need to be a part of the local association in order to gather information regarding bidding whenever it occurs and it may or may not be conducted on a regular basis. In the event of using a freight broker to secure bids, a share of money might be deducted as commission for the service. Similarly, freight bidding sites that facilitate online truck load bidding might also charge a platform fee as part of commission.
Comparatively, to find truck loads online is the best option to avoid empty miles. Utilizing an online load booking platform without commission is an efficient way to secure loads for trucks. These platforms usually have a wide range of loads available on multiple routes and do not require a middleman to negotiate. The loads can be directly sourced from shippers through a simple booking process.
Let’s Wrap Up!
In order to reduce operating costs resulting from empty miles in transportation, finding loads is a major task for fleet managers and truck owners. Cargo bidding to find loads for trucks is a common process conducted using load boards, freight brokers, networking and freight bidding sites. Analyzing market trends, choosing mini-bids and using a bidding software helps with successful bidding. While bids on shipping loads is an effective method, it has a few drawbacks that can be overcome using an online load booking platform.
AxleDirectory is the best platform to find truck loads online which has zero commission, a simple booking process, tracking updates and verified service providers.