Did you know? SONAR’s Inbound Tender Volume Index can show you which markets freight is being delivered into, along with the trends and changes in inbound freight volumes.
Each day we’ll send you a daily tip designed to guide you to becoming a SONAR expert. If you have any questions, please contact your Customer Success Representative or email the team at email@example.com.
Inbound Tender Volume Index (ITVI): An index that measures the electronically tendered volumes based on the destination markets. Which markets are receiving freight?
A tender is a load offer to a trucking company that is sent electronically. These are actual loads and are transmitted by shippers or brokers a few days before they are scheduled to be picked up. The ITVI is the most current and reliable indicator of market demand.
The FreightWaves SONAR Inbound Tender Volume Index (ITVI.USA) shows users which U.S. markets the tender load volumes are delivered into. Very similar to the Outbound Tender Volume Index (OTVI), which shows SONAR users the markets where the freight is being loaded, ITVI uses the same load tender data, but uses the destination as its basis to measure inbound freight volumes. Users can also drill down to specific regions and markets. SONAR users can use the chart feature to see how ITVI has trended over time. Users can also use the map feature for a high elevation view of which markets have the most freight.
View inbound tender volumes in the U.S. map feature.
Carriers: Changes in inbound tender volumes can increase or decrease capacity in a market or region. ITVI will help carriers understand more about conditions in different markets, which can help with decisions on accepting or declining loads that are offered to them.
Brokers: ITVI can help brokers see the flow and transfer of freight across the nation, and identify markets they need to target. For example, high inbound volumes into Atlanta will likely lead to outbound loads into the Southeast region. ITVI will also help brokers measure market conditions in both the markets they are working in as well as destination markets – enabling them to optimize their rates.
Shippers: ITVI will help shippers view inbound capacity into their market(s). Changes in the number of inbound trucks will help shippers react to market conditions proactively to ensure their loads are covered.
The ITVI was built to help users identify inbound freight volumes that are shipping at a national, regional or market granularity. Users can view this data on a U.S. Map, Heat Map or Chart to help them understand which markets are receiving the most freight, or in other words, which markets are receiving trucks that will soon be available. SONAR users will be able to gauge if a market they are investigating is in need of additional capacity, or saturated with trucks that are searching for outbound loads.
1) Click U.S. Map to view outbound tender volumes at a high level to see which markets are receiving the most freight.
- Darker shades of blue indicate the markets receiving higher volumes of freight.
- Lighter shades of blue or white indicate the markets receiving lesser amounts of freight volume.
2) Click Heat Map to view all 135 markets in a market table format that will allow you to sort the markets by actual inbound index value, numerical change and percent change.
- Markets shaded green show an increase in ITVI since the day before.
- Markets shaded red show a decrease in ITVI since the day before.
- Sort to see the top inbound markets in the nation by ITVI, or the top markets where ITVI has changed.
3) Click Chart to view the historical trends and changes in national inbound volumes.
- Charts can also be used to view historical data at a market level by changing USA (ITVI.USA) to the airport code of the market you wish to view (for example ITVI.MEM for the Memphis market).
- Outbound tender volumes can be broken down by trailer type by adding a V for Dry Van or R for Reefer. Ex. VITVI.USA, RITVI.USA/VITVI.MEM and RITVI.MEM
Pro Tip: Click the link SONAR 101 to watch the SONAR 101 training webinar video. SONAR 101 is an entry-level learning experience that will help users navigate SONAR and understand how to use the data.
If you have questions about inbound tender volumes, please contact us at firstname.lastname@example.org.