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Freight rate index idea from radio show

Recently the discussion of starting a rate index has come up. Kevin has said it would be pretty easy and wants to make it free to get more involvement. Then the issue of keeping the numbers true and accurate came up.

Half the information need is already in profit gauges with our settlements I.e. revenue, the date, type of trailer is in our profile. Adding a couple of fields to settlements could give the rest of the information need zip codes for origin and destination, and check boxes for LTL, over size.

Having this on profit gauges and with settlements should solve the problem of keeping the numbers honest and accurate, and making sure we have data from people who care what their entering and reading.

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The index doesn't need to show who's load it was just some kind of point system. Say 100 points is median and more than 100 is a better load and less than 100 is not so good. Would show a load as it compares to that lane and as it compares to the regional and national markets. As well as how a lane rates in the regional and national markets.

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My question is, why would you share rate info with competitors?

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rate and lane.

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We've already started discussing this one. We plan on adding it to the mobile app. Still lots of things to discuss and iron out. I'm sure we'll be in touch Ronald as we start to work more on this feature. Thanks for adding it and being willing to help.

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Ok, you've got my number and email

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Looking forward to this feature as well.

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I was the caller that ask about starting a rate matrix. I have about 300 loads on excel that has all the info one would need to get a rate index started. I dont care who sees my info. All of my loads are brokered loads and my loads can reflect the same that is on profit gauges.

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The problem I see is that it will only work with a small percentage of the profit gauges users. Even for the ones that it would work with, it would be very difficult to get accurate information. Here's what I mean:

A shipper is paying $1000 to move a load from point A to point B.

Example 1: I am running with my own authority. I get a load from the SHIPPER. I list $1000 for that lane.

Example 2: I am running with my own authority. I get a load from a BROKER. I don't list the brokers rate, I list my share of $750.

Example 3: I am leased to Landstar without a trailer. I list the 64% I receive or $640.

Example 4: I am leased to Landstar with a trailer. I list the 72% I receive or $720.

Example 5: I am leased to "Carrier X" and get a flat rate of $1.00/mi for all miles. I list $500. However, how would I list all of my "empty miles" paid? I think this example would skew the numbers so badly that it wouldn't be possible to use it. That automatically rules out a lot of people.

There are 5 examples of a load that pays the same and would get 5 different numbers listed by using the numbers from profit gauges. I'm sure there are hundreds of different combinations and variations that would add to the confusion and make the numbers worthless.

Not to mention a fuel surcharge. In the examples with own authority, they likely will not have a separate FSC. Would the rest of the users enter their FSC or not? I know from experience that the Landstar agents use the FSC as their only negotiable number, so whether it's listed or not, it would skew the results.

Then there is the possibility of anyone publishing fake numbers. Tying it directly to profit gauges would make certain that the issues from my examples would occur. Not tying it to profit gauges leaves the door open for manipulation, and for the honest ones, human error.

In the end, after all of the hard work, time, and effort, we wouldn't have anything better than what is already out there and published by other companies. Anyone with their own authority probably already has access to this information. Landstar BCO's and others with that set-up such as Schneider and Mercer can already pull up a load board and look at different lanes and run history reports. Their rates are posted, so this is even better than any comparison from the outside.

I don't think this is a good idea. I think it will prove to be a waste of time. I was surprised Kevin thought it would work.

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Ronald Sanford will be eternally grateful.
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