UPS announced a rate increase for 2024. This is consistent with FedEx. Review your shipping strategy for cost efficiency.
LTL pricing is complex. There are many factors that are taken into account when pricing a shipment, primarily centered around how much space a shipment takes up on a truck and how much the shipment weighs. This brings us to the topic of NMFC classes- a critical component of getting best-in-class rates.
There was a time when choosing the mode for a less than truckload shipment was easy: less than 150 lbs = parcel, 150 lbs or more = LTL. Rising freight costs and new service offerings have made this decision more complicated.
While Flat Rate Shipping carries with it the advantage of simplicity for e-commerce shippers, what are the other pros and cons? While a one-size-fits-all approach is attractive at face value, it pays (literally) to dig deeper in most cases.
Are you prepared for FedEx’s 2021 general rate increase? Read on to learn the key points of the announcement and what it could mean for your business.