Schneider has joined DAT’s pilot program to develop ways to deliver faster, more accurate forecasts of truckload freight rates and market conditions. The Wisconsin-based fleet is implementing DAT’s Market Conditions Index (MCI), an indicator of truckload freight supply and demand, and RateView, a rate-prediction technology.
“This pilot program is an opportunity to use DAT’s best-in-class data and analysis tools to help us gauge market conditions today and in the future, and provide a reliable and transparent rate right away,” said Erin Van Zeeland, group senior vice president of Schneider Logistics Services, in a news release.
MCI is an indicator of future changes in rates for van, refrigerated, and flatbed freight that incorporates actual inbound and outbound freight transactions, load-board post and search behavior, and short-term and long-term trends to generate a holistic view of past, present, and future market conditions. DAT’s rate forecast and analytic tools use data and algorithms that account for short-term market effects, seasonal impacts, and long-term price trends.
DAT rate forecast and MCI tools will be made available to third-party logistics providers, freight brokers, truck fleets, financial analysts, and other industry stakeholders in April.