What is Lane Scorecard?
Lane Scorecard has proprietary SONAR lane scoring, SONAR predictive rates and spark graphs that allow the user to more easily see past and forecast trends. The Lane Scorecard app is launched from SONAR’s main navigation panel. It can be enabled/permissioned at the organization or user level.
What does Lane Scorecard tell me?
Lane Scorecard improves pre-RFP strategy analysis and identifies new market opportunities with little to no native, historical data. Users can select a time period for predictive rates from the drop-down menu, and whether or not they want to see high, median or low rates. Lane Scorecard shows the following results:
- Historical trend sparkchart /% change
- Predicted trend sparkchart/% change
- Equipment Type
- Volatility Score
- Lane Score
- Origin/Destination Signals
- Current Rate
- Predicted rate of time selection
Who is interested?
Brokers, Shippers, Carriers and 3PLs
Brokers (3PLs): Lane Scorecard helps brokers recognize which lanes will have the most lucrative tenders, effectively increasing profitability. It provides the ability to review available tenders and ascertain whether to bid or not on freight in those lanes, and a better understanding to further move assets to reduce upfront costs and maximize backhaul opportunities.
It increases a user’s ability to provide quotes and bids based on market data – not biased, internal assumptions about what others should pay.
Shippers: Lane Scorecard helps identify ways to reduce delays in tendering and pickups. Users can view benchmarked spot rates by historical 12 months or predict the benchmarked spot rates 12 months in the future. This helps a user to understand where rates have been and where they are going, enabling better budgeting for market changes. A user can better understand today’s current benchmark spot rate and know if the quoted freight rate is reasonable, as well as what the predicted spot rate will be at a given time in the future.
Carriers: Lane Scorecard provides a look beyond their supply chain networks to see what other carriers are doing. It also gives the opportunity for increased attention to other carrier rates, which generates better flexibility and competition in setting lane rates. Lane Scorecard provides access to leading freight metrics that are custom-filtered to carrier preferences, reducing clutter and speeding decision-making.
How to use Lane Scorecard
1.) Download the template and enter your information.
2.) Log into SONAR, and open Lane Scorecard.
3.) Click the download button in the top left corner of the Lane Signal App.
4.) Select your file and click ‘Upload.’
5.) Select the time frame and estimate type you’d like to see.
6.) When you’re ready to view in Excel, click on the download icon to download the file to your computer.