Averitt Debuts Dynamic Pricing System for LTL Carriers

A new dynamic pricing system developed by Averitt and SMC3 compares costs and real-time demand to provide accurate and serviceable shipping rates.

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June 22, 2023

Averitt Debuts Dynamic Pricing System for LTL Carriers — Averitt's ExactRate pricing system offers real-time decisions based on cost and demand curves, generating precise rates that reflect market dynamics.
Photo: Averitt

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Averitt has partnered with SMC3, a shipping technology company, to introduce ExactRate – a new dynamic pricing system for LTL shippers.

Averitt said ExactRate evaluates estimated costs and real-time demand to provide accurate and serviceable rates. This capability gives Averitt the ability to streamline pricing and enhance transparency for both the shipper and carrier. By integrating a robust business rules engine with Averitt’s costing system, ExactRate generates precise rates that align with market conditions and accurately reflect operational costs.

According to Averitt, ExactRate is designed to simplify the complexities of LTL pricing. It offers real-time decisions based on cost and demand curves, generating precise rates that reflect market dynamics. This allows shippers to easily access net prices and make more informed decisions about their freight. The system also enhances visibility and transparency, offering increased insights into discounted lanes and carrier requirements. This not only helps optimize freight matching, it also helps build trust between Averitt and its customers.

“ExactRate paves the way for improved efficiency, transparency, and collaboration in LTL pricing,” said Mark Davis, vice president of pricing and traffic, Averitt. “It empowers our customers to navigate the complex world of LTL pricing with ease and confidence, while revolutionizing the way shippers and carriers interact. The result will be stronger relationships and new growth opportunities.”

“This unique dynamic pricing solution empowers Averitt to execute its strategy with a state-of-the-art pricing system built on SMC3’s technology that delivers API quotes in less than a second with the bandwidth to handle quotes from the largest shippers and 3PLs.” added Brian Thompson, chief commercial officer at SMC3.

In today’s rapidly evolving transportation landscape, shippers face significant challenges when it comes to navigating the intricacies of LTL pricing. With ExactRate, Averitt said it aims to simplify the process and empower shippers and carriers alike with a cutting-edge solution that revolutionizes pricing strategies.

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Topics:LTL Freight Rates Shippers Carriers Pricing Fleet Management

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