Did you know? SONAR’s Inbound Tender Volume Index can show you which markets the freight is delivering into, along with the trends and changes on inbound freight volumes.
What is it?
Inbound Tender Volume Index (ITVI): An index that measures the electronically tendered volumes based on the destination markets. Which markets are receiving the freight?
A tender is a load offer to a trucking company that is sent electronically. These are actual loads and are transmitted a few days before they are scheduled to be picked up. Tenders are the most current and reliable indicator of market demand.
The FreightWaves SONAR inbound tender volume index (ITVI.USA) shows users which markets the tender load volumes for the U.S. are delivered into. Very similar to the outbound tender volume index (OTVI), which shows SONAR users which markets are loading the freight, 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 region and market granularity. SONAR users can utilize the chart feature to see how ITVI has trended over time. Users can also use the map feature to give a high elevation view of which markets have the most freight.
Who needs it?
Carriers: Changes in inbound tender volumes can increase or decrease capacity in a market, or region. ITVI will help carriers understand more about the market conditions in different regions of the nation, 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 on both the markets they are working in, and destination markets enabling them to optimize their rates.
Shippers: ITVI will help shippers view inbound capacity into their market. Changes in the number of inbound trucks will help shippers react to market conditions proactively to ensure their loads are covered.
What can I do with it?
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.
Show me how!
1) Click: U.S. Map to view inbound 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 indicate the markets receiving lesser amounts of freight volumes.
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 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).
- Inbound tender volumes can be broken down by trailer type by adding a V for Dry Van or R for Reefer (for example VITVI.USA, RITVI.USA / VITVI.MEM, RITVI.MEM).
If you have questions about outbound tender volumes, please contact us at firstname.lastname@example.org.