SMC³ Updates CzarLite Rates
ATLANTA – SMC³ has announced the data in CzarLite®, the most widely used less than truckload pricing benchmark in North America, will be updated effective September 21. The changes reflect the economic impact of rising transportation expenses and updates to the United States, Canadian and Mexican postal code systems.
The base rate aligns with modern market carrier rates and regional freight-flow trends, eliminating the need for complex discount structures and percentages. CzarLite base rate updates do not include fuel price adjustments, which are addressed separately by each carrier.
SMC³ data scientists created the carrier-independent base rate, which enables shippers, carriers and 3PLs to negotiate LTL freight procurement from a level playing field, by analyzing 116.8 million freight bills from the 33 largest LTL carriers, a data set unique to SMC³. This neutral, standardized pricing foundation makes it possible to accurately and reliably judge myriad shipping rates.
SMC³ regularly updates its CzarLite family of products – the industry’s premier LTL base rate solutions – to reflect the current market. Updating CzarLite involves computations that reflect U.S. motor carriers’ operating expenses – costs that include geographic labor variations; speed, weight and restricted road limits; chronic head-haul imbalances; and other factors. The overall impact on SMC³’s CzarLite rates is 4.9 percent.
SMC³’s consulting economists have certified the methodology behind the CzarLite update to ensure the data and processes are accurate and the update produces equitable baseline rates. These consulting economists have experience with the transportation industry and lengthy histories of economic analysis, research and forecasting. Their recommendations related to the economic portion of the CzarLite update assure the practical, fair and unbiased nature of CzarLite rates.
With its range of transportation technology solutions that integrate seamlessly into current business systems, SMC³ supports customers as they grow, whether they’re dealing with 10 or 10,000 freight movements per day. Shippers and 3PLs use SMC³’s peerless solutions to optimize their freight spend, achieve unrivaled shipment visibility and streamline their transportation planning, saving time and money on their supply chain requirements throughout North America.
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