The RateLinx Enterprise solution stands apart from other logistics solutions because our entire suite of software and services is integrated together. So when it’s time for rate sourcing, the breadth and power of our Rate Modeling Engine and predictive analytics is unsurpassed. That why we call it Integrated Shipping IntelligenceSM.
During Rate Modeling, all data from the Transportation Management System and the Intelligent Invoice Management—combined together in the Dashboard—is put into the modeling environment. Here the analytics engine normalizes the data to run “what if” scenarios. This forms the basis for individualized, custom bid packages for the carriers that are specific to a particular carrier.
No longer do you need to ask your carrier to give you their best number on a blank sheet of paper. The analytics engine, fed by the standardized dataset from Intelligent Invoice Management with your actual shipment activity, provides detailed information to the carrier on exactly which lanes, rate base, discounts and floors they can bid on. The risk is removed for the carriers because they know exactly what they are bidding on. This results in a fair profit for the carrier and a better price for the shipper.
The Rate Modeling Engine is not a negotiation. It is truly objective. Most TMSs can only handle one rate base. But our ShipLinx TMS can handle as many as it needs to. We have thousands in our library. Use the common rate base or the carrier rate base along with lane details such as zip-to-zip or state-to-state, whatever makes the most sense for the shipper. Additional detail can be included by location, by direction, by ship-to customer or by product type. Particular benchmarks can be added, and put back into the engine to re-rate selected carriers.