Jun 23, 2019
[00:20] Opening / Introduction
[00:39] Can you tell us a little bit about where you
work and where you live?
- I am the Senior Director of Carrier Development at
MyCarrierTMS. We’re based out of Scottsdale, Arizona.
[01:12] Tell us a little bit about how you started your
- I started at an LTL carrier working on the dock. I got to see
how the operation works from the ground level.
- Over the years, I grew with LTL companies and took on different
- I joined a startup that grew to about $80,000,000 in ten years,
and then I went back to the asset-based side.
[03:15] Can you explain what LTL is?
- LTL is less than truckload.
- They pick up a variety of shipments and handle them multiple
times throughout their network.
- It gives customers a cheaper option when they’re shipping less
than a truckload.
- It’s a lot more complex than just going from point A to point
B, but it offers the customer value.
[07:12] Tell us about the market leaders.
- They include FedEx, YRC, and Old Dominion. Seven companies
represent a large chunk of the market.
- Technology plays a huge role in helping carriers to optimize
[09:30] Describe the innovative new model that you
- The current model is that you can go to a 3PL and use their
services or go direct to the carrier.
- We’ve learned that the average LTL shipper uses 2.4 different
web-based platforms to manage their transportation. It’s not very
- The model that we’re working with is using API technology to
speed up the process. They can connect to carriers in a matter of
[11:36] Let’s say I’m using a 3PL. If I were to use your
model, I wouldn’t necessarily need to use a 3PL. What would that
- If you’re a small-to-medium sized shipper right now, you don’t
have access to cost effective technology.
- In the new model, carriers are offering to license this
technology on behalf of their customers.
[13:32] In this new model, will it be the same
- It will be very similar. Obviously, there’s not going to be a
middleman. You’ll be able to interact directly with carriers.
[15:09] How can a small company get good pricing with an
LTL company? A lot of times, the 3PL has the buying power that a
small company doesn’t have.
- We’ve found that the system and how it connects the carrier and
shipper has so many efficiencies built in that the carriers are
competitive with pricing.
- Trust plays a large factor. Usually, you have to trust the 3PL
and the carrier. If you go direct, you only have to trust the
[17:16] Describe the new scenario if as a small company,
I now go directly to the LTL carriers. Let’s say I’m working with
five and going into each of their systems
- This technology allows them all to tie their direct pricing
into one clean system.
- You can bring in any carrier and still have direct rates.
[22:56] Describe your solution one more time so we have
a good sense of how it works.
- Our partner carriers are offering free technology to their
shippers and are licensing the cost of that technology on their
behalf so that they can continue to strengthen the direct
- You can manage all your tracking in one convenient
[24:45] Any final thoughts to wrap this up?
- It’s exciting to see how quick this technology is being
adopted. These are really exciting times.
Keith Farnsworth LinkedIn profile: https://www.linkedin.com/in/keith-farnsworth-21b23835