Feature Highlight: Pricing Rules and Tracking

August 1, 2023

We are excited to announce the launch of our new Pricing Rule Customizations and Rule Tracking features. These new capabilities are designed to optimize pricing strategies and provide valuable insights into the effectiveness of the pricing rules that users put into play.

Our Pricing Rule enhancement (formerly known as Markup Rules) was created to give users more control over their pricing strategies through customized pricing rules and access to valuable insights that represent the effectiveness of their pricing rules.

Building out a traceable rule set allows a business to make data-driven decisions that align with operational goals. Understanding the data behind specific pricing rules enables companies to identify the best decisions for maximizing margins and win rates.

Standard practices can be a bit fragmented, with management running rough-shod and pricing as effectively as possible. The lack of standardization and guidance can make it challenging to maintain a consistent strategy, especially when training new reps.

Implementing our pricing rules will build guidance from the top down, allowing new and experienced reps to quickly iterate and pull as much margin from the market as possible.

Pricing Rule Customization’s Pricing Rules allow users to fine-tune their pricing strategy by prioritizing specific rules based on certain requirements. When creating a pricing rule, users can select whether a rule is a Combination Rule or a Priority Rule.

  • Combination Rules are cumulative. If multiple Combination Rules apply to a lane and shipper, all of the rules will affect the rate.
  • Priority Rules override all other Pricing Rules so that only the Priority Rule affects the rate.

Within the Priority Rules, you can also set a Final Sell Rate if you would like that will overwrite the sell price with a flat price instead of modifying the price by a markup. You can also now create negative Pricing Rules to discount freight for specific shipments.

Users can also choose to denote markups based on additional fields such as confidence level, transport type, user, matching time, transit time, weight, and commodity.

The levels of customizations enable users to create pricing rules that both align with specific parameters and are tailored to pricing approaches of different scenarios.

Rule Tracking Analysis

Once we receive your data and build the necessary infrastructure, users are provided with detailed metrics and insights on quoting patterns.

Gaining insights on the impact of the quoting rule will help you make informed decisions to optimize pricing strategies.

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About Us offers a dynamic pricing infrastructure for the logistics industry that optimizes and enriches historical and real-time market data to predict buy rates and sell prices that are 2 - 3X more accurate than traditional pricing methods, empowering LSPs to increase profit per transaction and volume per rep. We were started in 2020 by a team of veterans who have collectively spent over 100 years in the supply chain industry.
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