What is LTL Freight? How It Impacts Your Business?
Due to the high popularity of LTL Freight, the growth of consumers’ demand is expected to drive in 2021. In the United States, the market size of the less-than-truckload industry is expected to reach over 80 billion U.S. dollars. Also, The global revenue of the LTL freight market grew to Million USD in 2020 and will reach Million USD in 2026.
Shipping is expensive. That’s why many small companies are switching from their current shipping method to less-than-truckload (LTL) freight.
What is LTL freight?
LTL freight is essentially sending or transporting the carrier shipments through the full truckload services and carrier services like UPS or FedEx.
You can usually transport small shipping items of over 68 kilograms but less than 900 kilograms.
Companies can opt for LTL shipping through common carriers who manage freight and offer you plenty of cost-saving opportunities.
For D2C companies and businesses in India, the LTL freight offers a way to prevent overpaying for warehousing. Understanding more about the benefits of LTL freight will help you get the most out of your shipping experience. Let’s jump into the benefits of LTL freight!
Top Benefits of LTL Freight Shipping
A shipping company delivers your packages in the fastest way to the desired location. But this is not a cost-effective way of doing it. LTL freight and shipping make shipping cheaper, organizable, and more eco-friendly than other shipping options. Although it can be slower in delivery than direct shipping, it allows for cost-efficient and fuel efficiency. And, with modern technologies, it can be just as efficient as direct shipping.
One of the main benefits of LTL freight shipping is the reduced shipping cost. Also, this method is for smaller shipping loads, so they allow to reduce the overall shipping cost for everyone. By using LTL freight, shipping companies can also manage multiple smaller loads together.
This way it is possible to reduce the fuel cost and the number of vehicles necessary to transport their loads. By merging up items together, LTL freight manages to save cost on transport, while allowing the fast shipping service as direct FTL shipping.
Most companies are opting for an eco-friendly mode of transportation. And, when it comes to LTL shipping, it is one of the best eco-friendly options. By reducing the amount of fuel necessary for shipping, LTL allows shipping companies to be much greener and make your shipments eco-friendly.
LTL freight also increases the safety of your shipments. LTL shipments are checked for the safety of packages from both physical and environmental harm. Individual loads are usually packed on a secured parcel and then the company puts them in protective containers. This allows for the maximum safety of items during shipment.
Another safety feature of LTL freight is that there is no chance of a package getting misplaced. By using modern tracking technologies and safety measures, ensure that any package is well looked after. In addition, LTL freight routes take few stops, which allows packages safety during transit.
LTL shipments follow limited routes and take only necessary stops that allow for the better organization of shipping.
LTL freight shipping is ideal for shippers who have regular shipments, as they group up together to achieve a greater degree of reliability. Companies also use automation features for optimal route tracking and optimization. Automation technologies allow tracking of packages and get live notifications of any delays. With LTL freight, companies should be able to run their operations in an organizable manner and with a high degree of reliability.
Multiple Shipping Options
LTL freight shipping comes with various shipping options. These options make your shipping much better organized. Some of them are:
Expedient Shipping – This option is when you want your goods to deliver faster than the standard time. But it can be a costly option to opt for, but it is quite beneficial to use for emergency shipping.
Liftgate – If your freight load exceeds 45 kilograms, you should opt for Liftgate shipping. Also, it is a good option to consider when you don’t have a clear dock for shipments.
Limited Access – Limited Access LTL is for areas that have limited access due to safety reasons. This is particularly for rural locations, where it would probably be hard to reach for shippers.
Custom Delivery Window – For specific period shipments, you can opt for custom delivery windows. This shipment allows you to handles your transport cheaply and efficiently.
LTL freight is an option your organization should know about. Depending on the types of shipments you select, LTL freight is the efficient and cost-effective option. To opt for LTL shipments, it is important to be aware of how the LTL shipment works and how it benefits your business, as well as what steps you can take into consideration to get the most out of LTL freight.