SMC3 announced its Dynamic PriceBuilder application, a dynamic pricing system that pairs a carrier’s unique cost model with a powerful business rules engine to enable real-time price generation, has been named a 2024 Top Product by Heavy Duty Trucking (HDT). The application was selected by the HDT editors for its innovation, ability to address important industry issues, and potential to improve a fleet’s bottom line. Dynamic PriceBuilder is a cutting-edge pricing system that pairs a carrier’s unique cost model with a powerful business rules engine to enable real-time pricing generation.
“We’re very proud to receive this recognition for our unique solution that enables LTL carriers to adjust prices quickly to meet ever-fluctuating market demands,” said Brian Thompson, chief commercial officer at SMC3. “Dynamic pricing allows carriers to respond to both internal and external events to strategically set their most competitive prices. It’s a win-win for both carriers and shippers.”
SMC3’s Dynamic PriceBuilder® is the only commercially available dynamic system to consider the carrier’s specific costs when formulating rates. A carrier-managed business rules engine is coupled with SMC3’s Cost Intelligence System (CIS®) prospective cost model to drive timely, targeted, and precise high-speed analytics, giving LTL carriers the agility and flexibility of dynamic pricing.
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With this dynamic solution, carriers immediately feel the impact of enhanced visibility into load-level costs, pricing, and profitability paired with their custom business rules engine to provide the data needed to quickly offer customer-specific pricing on a shipment-by-shipment basis. Equally impressive, the data can be instantly updated as often as needed.
The Dynamic PriceBuilder solution empowers carriers to make better pricing decisions. Through the tool, they can manage yield versus volume with on-demand control pricing and access levers, including location, weight, density, day of the week, and calendar date. Additionally, carriers can target multiple customer segments with different dynamic price programs and customize accessorial charges by terminal, lane, location, weight break and more.
Powered by SMC3’s fully hosted platform, Dynamic PriceBuilder offers high-speed, secure API connectivity to allow carriers the ability to is scale to handle high quote volume from their largest 3PLs and shippers. With 100% service reliability, quote generation, retrieval and reporting tasks are simplified and carriers can feel confident in their pricing strategy.
SOURCE : BusinessWire