For shippers, securing a good rate for spot loads can be a challenging and time-consuming task. Similarly, for carriers, bidding on multiple loads can be quite exhausting. Fortunately, the logistics industry is constantly innovating, and Emerge recently revealed its latest addition to its Spot Automation suite - Dynamic Book It Now.
Dynamic Book It Now is a new feature added to Emerge's Spot Automation suite tailored to alleviate the pains of negotiation back and forth and by eliminating any need for manual rate adjustments. With Dynamic Book It Now, shippers can set the starting rate and a ceiling rate. The starting rate is where the bidding starts, and the ceiling rate is the highest amount shippers are willing to offer for the spot load. From there, Dynamic Book It Now does the rest, incrementally increasing the rate until it reaches the ceiling rate. This allows shippers to effortlessly capture the best price for their loads.
To ensure shippers are getting the most accurate market rate suggestion, Emerge recently announced Rate Pulse - a feature paired with Dynamic Book It Now that uses historical data and DATiQ data for more precise market rate suggestions. Rate Pulse is essential in ensuring shippers have a comprehensive understanding of the intricacies in the marketplace while making the best decisions to optimize their supply chains.
Auto Book Partners, another Emerge solution that allows shippers to have more control with automated features, is particularly essential when it comes to identifying which carriers from their network are eligible for automated awarding and tendering. This added control enhances agreements and ensures their approvals are being delegated efficiently. By increasing compliance and automating routine tasks, shippers gain the peace of mind that their loads are in the right hands.
Carriers can also benefit from Dynamic Book It Now, particularly when it comes to avoiding bidding fatigue. By having the ability to book loads instantly, carriers can maximize the number of loads hauled without spending unnecessary energy bidding on each load. Similar to shippers who can dictate starting and ceiling rates, carriers can set filters instrumenting volume, lane preferences, and even minimum yield by lane. This ensures their ideal criteria is set up correctly, driving growth and scale for their needs.
With Dynamic Book It Now, shippers can capture the best rates for their spot loads, while carriers can avoid bidding fatigue, leading to maximum profitability for all involved. By consolidating Emerge's latest technology additions, shippers, and carriers alike can automate their spot market transactions, ensuring business success in a rapidly evolving logistics industry.