Spot Market Data: What is it telling you about your transportation's future?
It's important to understand the differences and similarities between the spot market and contract market. The spot market (which covers 1/3 or all truckload freight movement) can provide eye-opening insight into the future of the contract market. By understanding how freight moves differently in the spot market, we can look at insights like which lanes are moving faster and which lanes require adjusting your rate to possibly move the freight in a timely manner. While technology continues to change and businesses become more efficient, there's always going to be a need to move freight in the spot market. It's beneficial to your business to use the spot market to your advantage rather than treat it as a hindrance.
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