Spot Market Mastery: Maximizing Revenue with Data

Spot Market Mastery: Maximizing Revenue with Data

Transporting Wheels — 2023-10-10

Members Corner

In a market characterised by high spot rates, car transporters can capitalise on increasing their share of spot market transactions to boost profits. Leveraging data intelligently offers promising avenues for enhancing efficiency and revenue generation.

In the post-Covid landscape, spot rates continue to outperform contract rates, rendering the spot market even more appealing for carriers. However, expanding spot market involvement also introduces carriers to increased uncertainty and risk.

Optimise pricing mix

Embracing digitization and data-driven strategies opens up new opportunities for car transport companies. A data-centric approach empowers carriers to optimise their pricing mix between contracts and spot transactions and make informed decisions about transport deployment. McKinsey's research suggests this could result in a substantial 15 to 30% boost in revenue for carriers.

Predict spotfilling needs

Pioneering Dutch-based transport innovator, Transporting Wheels, introduced a unique concept in 2014 — a transport calculator employing advanced algorithms to connect supply and demand for car transport. Leveraging a vast dataset, Transporting Wheels continuously enhances efficiency in the car transport market. By using data to predict spotfilling needs, lead times, route optimization, and pricing based on supply and demand dynamics, they achieve remarkable results, particularly in collaborations with larger transport partners.

Meet us in Copenhagen

Meet Mark Rotteveel (commercial director) and Ruben de Lange (purchase manager) from Transporting Wheels at the ECG Conference 2023 in Copenhagen, 12-13 OCtober.