Transporting Wheels — 2023-03-23
Land transportation
In a market where spot rates are high, car transporters can profit from increasing their spot share. There’s great opportunities in making smart use of data to improve efficiency and increase revenue.
Opportunities for the use of data
In the current post-Covid landscape, spot rates remain significantly above contract rates, making the spot market even more attractive for carriers, as is concluded in a recent McKinsey & Company article analysing the European market for road freight. An increase in spot share, however, also exposes carriers to more uncertainty and risk.
Digitization and the smart use of data could offer trucking companies a range of new opportunities. A data-driven approach can help carriers identify the most profitable mix of contract and spot pricing and decide where to deploy trucks. The McKinsey researchers estimate this could potentially lead to an additional 15 to 30% in revenue for carriers.
Innovations in spotfilling predictions
Dutch-based transport innovator Transporting Wheels is considered one of trailblazers where innovative, data-driven solutions are concerned. In 2014, they launched a unique concept to the car transport market: a transport calculator that helps connect supply and demand for car transport using an advanced algorithm. The company currently facilitates the transport of hundreds of cars throughout Europe each week, using a network of transport partners.
“Over the years, we have gathered a wealth of data that we use to further optimize efficiency in the car transport market,” says Wilbert Wester, founder of Transporting Wheels. “Smart use of data helps us, for example, to accurately predict the needs in spotfilling capacity and expected lead times, continuously optimize routes and offer the best prices based on current supply and demand. We see great results, especially in collaborations with larger transport partners.”
More info on www.transportingwheels.com