Expedited linehaul LTL service provider chooses Transportation Costing Group’s LTL Cost Information System for profitability analysis
ROCKVILLE, Md. - TCG, an SMC3 company, providers of Activity-Based Costing and Profitability Management Tools for truckload and less-than-truckload motor carriers, today announced that Forward Air is now licensing its LTL Cost Information System (LTL/CIS).
“We chose TCG because it was built specifically to provide us with the ability to evaluate profit, lanes and customers in our LTL operation,” said Jeff Woods, senior vice president of Revenue Management at Forward Air. “With our diverse service offerings, cost analysis had become more complicated and our existing in-house software couldn’t help us manage that activity. TCG’s methodology uses a similar approach to our pricing structure so they understand what we need and provide the right tools to evaluate our profitability.”
Forward Air is a leading asset-light freight and logistics company that provides less-than-truckload (“LTL”), truckload, intermodal and pool distribution services across the United States and in Canada. . The company’s Expedited LTL service operates from over 90 facilities and 12 regional sort centers located at or near major U.S. and Canadian airports.
LTL/CIS contains unit costs and statistics developed directly from a general ledger and operating data. Carriers using LTL/CIS for pricing may also have a separate model with budgeted or projected unit costs, and a separate record for each terminal containing specific unit costs. LTL/CIS is available as a stand-alone or Local Area network (LAN) system for Microsoft Windows operating systems.
“We are pleased that Forward Air is choosing our Cost Information System to meet the cost analysis needs of its new business model,” said Ken Manning, founder of TCG. “We look forward to working with them to fully implement LTL/CIS in their operation and to help them realize a profitability improvement.”
