SMC3 rolls out volume LTL pricing API

SMC3 explained that volume pricing rates are leveraged by shippers and 3PLs when they need a spot quote for shipments that do not fit within traditional LTL or truckload parameters.

Logistics in the News

Report: Amazon to roll out offerings to take market share from FedEx and UPS
Emerge names Crawford as president
December truck tonnage finishes a strong year in 2018, reports ATA
Despite sluggish December, IANA reports 2018 intermodal volumes post annual gains
FedEx Express announces plans to acquire Israel-based Flying Cargo Group
More Logistics News

Logistics Resource

New White Paper focuses on the ABC’s of Anti-Dumping/Countervailing Duties
While the U.S. government has always prioritized protection of U.S. companies against imports that are sold at below market prices, or unfairly subsidized, the Trump administration clearly intends to raise the bar with regard to trade policy enforcement.
All Resources
By ·

Atlanta-based SMC3, a provider of LTL (less-than-truckload) technology, data and education services announced this week it has rolled out a new direct-to-carrier volume LTL pricing API (application program interface) offering, which, it said, is delivered through its SMC3 platform and can be used in tandem with its contract rating tool, RateWare XL

SMC3 explained that volume pricing rates are leveraged by shippers and 3PLs when they need a spot quote for shipments that do not fit within traditional LTL or truckload parameters.

“By using this service, customers pay the going rate for the space their freight actually uses, not a previously agreed upon LTL contract price,” SMC3 said. “This volume LTL freight can move on a carrier’s backhaul or chronic empty lanes (a benefit for the carriers) and is priced at spot-market rates, which can save shippers money. Volume LTL can be looked at as a mutually beneficial arrangement among shippers and carriers.”

The company added that SMC3’s volume pricing solution is a “RESTful API” that was built with an a focus on easy and fast integration into transportation management systems, with new customers averaging one week of integration time.

SMC3 COO Brian Thompson explained that there were many factors that led to this new offering. 

“Volume LTL moves account for a small percentage of shipments for both carriers and shippers,” he said. “Even with this fact, carriers are beginning to make spot quoting more accessible to shippers and 3PLs in the hope to fill more backhaul lanes. In the current capacity-constrained climate, it’s important that our customers have all the tools available to them to ensure they can quickly, efficiently secure space for their volume LTL loads. While volume LTL isn’t a huge part of our customers’ day-to-day transportation needs, we still noticed an area where we could make their business processes more efficient.”

Thompson described SMC3’s volume LTL API offering as the company’s next amplification of its SMC³ Platform, which it refers to as the underlying fuel for transportation management systems because it gives TMS users access to unrivaled transactional and analytical APIs that can help them optimize their transportation spend. 

“We are continually expanding our suite of LTL APIs, adding volume LTL to analytical APIs like RateWare XL and CarrierConnect XL and our execution and visibility transactional APIs,” he said. 

When asked to offer up the benefits of Volume LTL for shippers and carriers, Thompson said that SMC3’s LTL pricing API turns the task of compiling spot pricing from an array of carriers into a fast, automated solution.

“Traditionally, securing a volume LTL price has meant exchanging emails and phone calls with a variety of carriers, and spending valuable time following up on queries,” he said. “With our new API, we’re removing that manual process, allowing our customers to save time and optimize the procedure of securing volume LTL rates from carriers. This allows shippers to redeploy resources to revenue-generating activities.”

What’s more, he said that the volume goods can move on a carrier’s backhaul or chronic empty lanes (a benefit for the carriers) and are priced at spot-market rates, which can save shippers money. And he also pointed out that with volume LTL, customers only pay the going rate for the space their freight occupies. 

“Volume LTL can be looked at as a mutually beneficial arrangement among shippers and carriers,” he said. 

Historically, Thompson said that shippers and 3PLs haven’t been able to connect directly to carriers via APIs to generate volume spot quotes, noting that this meant they had to exchange emails or pick up the phone to get the job done. But now that more carriers are embracing API communications, SMC is able to bring its customers transactional, API connectivity to spot volume pricing, he said. 

Thompson cited a few competitive advantages this new offering brings, including:

  • the simple fact that the volume API is part of the SMC³ Platform, which houses solutions that cover the entire LTL shipment lifecycle;
  • the volume API is only one of many pricing APIs, and we are proud to serve customers as a one-stop LTL shop, providing them with the tools to optimize their LTL spend; and
  • Volume LTL data is sent securely and easily through the reliable SMC³ cloud, which handles 50 million transactions each day, with SMC3 treating this data with the utmost care as its customers’ data is their property, not SMC3s product

About the Author

Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!

Article Topics

API · Less-Than-Truckload · LTL · Pricing · SMC3 · All Topics
Latest Whitepaper
Intelligent Vision-based Sortation & Tracking Systems
Download this new "Making the Case" guide to learn how using intelligent, vision-based readers and sensors can capture the information you need to help address both external customer service expectations, and internal marching orders for efficiency.
Download Today!
From the January 2019 Logistics Management Magazine Issue
Seaports on West, East, and Gulf coasts are all poised to compete on one major imperative: investment in transformational technologies.
2019 Rate Outlook: Pressure Builds
Lift Trucks join the connected enterprise
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
2019 Rate Outlook: Will this be the year rates skyrocket?
Join Logistics Management's Patrick Burnson as he hosts a panel of fuel, trade and logistics experts who share their insights on rate patterns across all major transport modes to help shippers prepare their freight transportation budget for the coming year.
Register Today!
EDITORS' PICKS
2019 Rate Outlook: Pressure Builds
In 2019, the world economy will enter a third straight year of broad-based growth, but many...
2019 Transportation Management Systems (TMS) Market Update: Keeping pace with the times
The transportation management systems market is growing right along with the number of challenges...

The Logistics News that Shaped 2018
Every year at this time, group news editor Jeff Berman combs through the mountain of news that was...
Land O’Lakes lock in Texas-based capacity
Faced with the challenge of securing capacity in specific lanes, the iconic company broke with...