Fleetowner 33466 Truck Lineup At Rush Truck Centers San Antonio 0

Convoy to launch new program for real-time market prices

Aug. 15, 2018
Convoy announced the launch of Dynamic Backup, a new program that gives shippers real-time market prices for their backup freight.

Convoy announced the launch of Dynamic Backup, a new program that gives shippers real-time market prices for their backup freight. According to the company, the program will help reduce spot and short-notice shipments and ultimately maintain predictable tender acceptance and pricing even with changing market conditions.   

The standard process for offering loads to a shipper’s backup network leads to unpredictable and costly freight. When the static rate doesn’t match market opportunities, brokers and carriers may reject tenders, which means more loads end up on spot.

Additionally, each carrier may take an hour or two to make an accept/reject decision. As more time is needed to cover the load, prices increase, as does the risk of the load going to spot, increasing the possibility of a service failure.

“With Dynamic Backup, shippers get a real-time and guaranteed market rate that is instantly bookable into the routing guide, allowing them to immediately cover loads," according to Convoy. “We have built technologies that rely on real time market signals to secure the most competitive price and most relevant carrier for a specific load. This means that when Dynamic Backup inserts a real-time rate in the routing guide, we guarantee coverage at that price and will never give the load back, leading to benefits like operational efficiency, increased load coverage and freight cost savings.”

Sponsored Recommendations

Heavy-Duty Maintenance Checklist

A maintenance checklist can help ensure you hit everything necessary during an inspection. Check out our free downloadable checklist to help streamline your repairs.

Five Ways a Little Data Can Save Your Company Millions

While most trucking and logistics companies rely on cellular to keep their work fleet connected, satellite has the ability to connect anywhere and through small data transmission...

Fleet Case Study: 15% YOY Growth for ITDS

Learn how this small trucking company scaled significantly and maintained outstanding customer service without adding additional people. Sylectus TMS can automate operations and...

Unlocking Fleet Safety & Efficiency: The Managed Service Advantage

Want to boost your fleet's safety and efficiency? Tune in now to discover the power of Managed Services in optimizing your safety program, streamlining operations, and making ...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!