What is Lane Acuity?
Lane Acuity is the newest product app in the ongoing development of the SCI suite of products.
Lane Acuity provides insights into market stability, by lane, helping participants identify rate and capacity risk on a lane.
Think of it as a volatility score for a given lane, throughout the year, determined by historical tender activity and rate volatility. The higher the stability score, the more consistent the rate and capacity are on a given lane, resulting in a consistently high rate of tender acceptance.The lower the stability score, the more likely a given lane will experience routing guide instability.
Lane Acuity also provides a measure of lane coverage favorability via the Lane Score, which evaluates multiple data points within the app.
The scores, analytics, & insights in Lane Acuity come from a combination of tender activity and historical contract rate transactions, from a pool of $80 billion worth of actual paid contract rate invoices. This data has been collected over a 4 year period, broken down into shipper industry cohorts. When paid contract rate data is combined with tender activity on a given lane,
Lane Acuity accurately predicts when and where routing guide failures are likely to occur.
What does Lane Acuity tell me?
Lane Acuity shows multiple benchmarking, volume, rate and peer data across a set series of lanes based on historical paid invoicing data and real-time data. This lane-level intelligence provides insight into specific markets, origin/destination stability and contracted rates to inform short-term RFPs, networking decisions and more.. That combines to help enterprises define and assess their ranking among peers by avoiding dairy to automotive comparison as an example, identify issues within existing bids, recognize the contributing factors affecting lane stability, apply seasonality and accessorials.
Lane Acuity generates more strategic improvement goals, particularly mini-bids and capacity procurement, by the continued use of tactical (in-action) moves versus strategic (pre-planned) moves across the unified, digital and collaborative transportation network. Now, users can upload their data to tap Lane Acuity insights day or night. Additional implications include RFP strategy, knowing when to onboard new carriers, new lanes, hire more drivers or plan next distribution center sites.
As of its initial release, Lane Acuity further provides current insight into the Historical Truckload Rate Data via the visual ticker and the current Outbound Tender Rejection Index for that specific lane’s origin.
Who is interested?
- Shippers are interested because Lane Acuity provides protection and ensures they are running profitable lanes. By doing so, shippers are more likely to stay on budget with their yearly transportation spend while increasing capacity procurement.
- Brokers can use Lane Acuity to help predict stability and longevity of rates within the market, and determine whether the lane should be quoted. Knowing the trends of the lanes can help widen their margins.
- Carriers will be able to see inbound and outbound stability on specific lanes. That helps with planning asset allocation and assessing current pricing structures.