We are currently living in a digital world. Almost every aspect of life has evolved from analog to digital; that includes the shipping industry. As far as the moving industry is concerned, shippers, brokers, and movers can easily connect via load boards to make the shipping experience easy and quick. Here, we will discuss load boards more and how people can use them.
Continue reading for more information.
What’s A Load Board?
Also known as a freight matching service, a load board is an online platform that brings together brokers with loads to be carried and carriers searching for loads to ferry. Load boards are essential for keeping the freight moving, saving money and time for the parties involved.
Most load boards are advanced to allow users to post and search for loads using several criteria. They also provide different services for the users. Most load boards offer services such as load matching. They also provide credit information, the ability to make notes, message boards, mobile access, and pre-approved finance through factoring.
Types Of Load Boards
There are several kinds of load boards suitable for different tasks. The most common ones are paid and unpaid load boards. Nevertheless, there are other load boards like:
- Traditional Load Boards: Traditional load boards allow brokers, shippers, and carriers to discuss the cargo, capacity, and destination.
- Less Than Truckload (LTL) Load Boards: This term refers to freight that isn’t large enough to fit the trailer; hence they’re more likely to be carried along with other freight.
- Miscellaneous Loads: These loads refer to anything between the categories mentioned above. They might include unconventional loads such as livestock.
Two primary users use load boards: carriers and brokers. However, shippers also use load boards indirectly since most shippers use brokers to find suitable trucks to ferry their cargo.
How Is Load Board Used?
As earlier stated, a load board connects the broker and the carrier regarding cargo. The broker posts the load board, indicating the load they want to have carried, the equipment they want to use, and other information concerning the freight. On the other hand, the carrier searches the load board to find truck loads they can handle.
Ultimately, both load board users, in this case, the broker and the carrier, benefit from using the platform. The carrier hits the road while the broker gets the load ferried to its destination.
It’s essential to note that brokers use load boards in several ways to find suitable trucks to move their loads and set optimal rates. Among the ways in which brokers use load boards include:
- Establishing Rates: Once shippers contact brokers over the need to ship loads, the brokers develop rates for various lanes. However, the broker and the shipper must agree on the shipping costs. These costs primarily depend on lane density, meaning the number of available trucks willing to take the job. But the question is, how does a broker know the number of available trucks capable of delivering the cargo safely to develop the correct rate?
Simple. Most load boards have rate sourcing tools where suitable market price lanes are posted. It’s therefore easy for brokers to set rates for carriers for negotiation before they both agree on the rate.
- Searching For Trucks: For a successful moving process, a broker must find a suitable and capable truck for the job. Instead of asking for referrals from friends and families, brokers depend on load boards to get these trucks. They just have to indicate where they are, the load’s destination, the truck type needed, and the load weight. In a few moments, they will get notified of the available trucks suitable for the job near them.
- Posting Loads: Brokers with lots of loads to be carried or too busy for truck search can post the loads on the board. Through this, carriers see the available loads on the board and reach out to learn more about them. They can accept the offer if they agree on the rate and other terms.
How Do Load Boards Work For Carriers?
Every truck owner wants their vehicles to be on the move. Therefore, they depend on load boards to find work for their trucks easily and quickly. The truck owners and operators don’t need to tire shippers with endless calls when working with load boards. Instead, they go to the load board apps to check if there are suitable loads for them in terms of location, truck type, and maximum weight. Truck owners and operators access hundreds of loads through load boards, choose the suitable ones, and get on with the task.
Are Load Boards Paid Or Free?
The load board market is among the most competitive ones. That said, there are both paid and free load boards. For paid services, the cost depends on the plan. At some point, premium prices can reach up to USD$100 per month. Remember, here, too, you get what you pay for.
Nevertheless, paid load boards aren’t necessarily better than free ones. Sometimes you can get better deals on free load boards than on paid ones. The secret is to search for a board that suits your requirements, whether free or paid.
Benefits Of Load Boards
The following are some of the many benefits of load boards:
- Avoid Status Calls: Shipping process transparency is beneficial for every involved party. Load boards enable carriers to update their location, allowing shippers and brokers to understand how the process is proceeding. Other than providing visibility, this feature is also customer-friendly.
- Easy To Use: Load boards don’t require advanced knowledge to use. All you need is to develop an account to help you view available tasks.
- Efficient And Convenient: Load boards are easily accessible via the internet. Each party involved in the move can access load boards from their devices regardless of the location and the time.
Based on the information above, load boards can be referred to as a center where brokers and shippers connect to find suitable trucks and moving tasks. With load boards, loads are effectively and quickly moved to their destinations as truck owners and operators get their vehicles moving. In the end, both parties make money and save time.