18 days ago
Freight fraud risks and carrier vetting are the focus as Highway Chief Commercial Officer Michael Caney joins FreightWaves Today. He breaks down what brokers, carriers and shippers need to watch right now when onboarding and monitoring capacity.If you work fraud prevention, carrier compliance or network procurement, this conversation gets straight to the operational takeaway without the fluff.#FreightFraud #CarrierVetting #SupplyChain
Carrier-vetting platform Highway is putting its balance sheet behind its fraud-detection product: if a broker moves freight using Highway's guarantee standard and loses a load, Highway writes a check for $100,000. The company's chief commercial officer said the program covers the vast majority of carrier capacity in North America — and has paid out only once across roughly one million loads.
Of the approximately 175,000 carriers that move freight for freight brokers, Highway says more than 82% qualify for the guarantee tier. "What I would tell you is the industry keeps trying to solve for the bottom 18% of the market," the CCO said. "And what we're saying is if you will just move your freight to this cohort of carriers, which is the majority of capacity in North America, not only will you be fine, but Highway will stand behind it with a performance guarantee."
"The average cargo theft is not the $100,000, it's $250,000. This idea that a motor carrier can just show up and say, hey man, I'm gonna need this cargo, it's $250 grand, I'm good for it, is bananas."
The single payout to date stemmed from an identity-design flaw tied to California's non-domiciled limited-term licensing rules. A fraudulent carrier obtained a new license through California's process, resubmitted in Highway's system, and the alert dropped off before the bug was caught and fixed — costing Highway $100,000. The CCO described theft events as a "Swiss cheese" of compounding decisions rather than a single failure point, and said Highway continuously monitors for ownership changes, inbox compromises, and cyber anomalies within the guarantee framework.
#carriers #capacity #America
Carrier-vetting platform Highway is putting its balance sheet behind its fraud-detection product: if a broker moves freight using Highway's guarantee standard and loses a load, Highway writes a check for $100,000. The company's chief commercial officer said the program covers the vast majority of carrier capacity in North America — and has paid out only once across roughly one million loads.
Of the approximately 175,000 carriers that move freight for freight brokers, Highway says more than 82% qualify for the guarantee tier. "What I would tell you is the industry keeps trying to solve for the bottom 18% of the market," the CCO said. "And what we're saying is if you will just move your freight to this cohort of carriers, which is the majority of capacity in North America, not only will you be fine, but Highway will stand behind it with a performance guarantee."
"The average cargo theft is not the $100,000, it's $250,000. This idea that a motor carrier can just show up and say, hey man, I'm gonna need this cargo, it's $250 grand, I'm good for it, is bananas."
The single payout to date stemmed from an identity-design flaw tied to California's non-domiciled limited-term licensing rules. A fraudulent carrier obtained a new license through California's process, resubmitted in Highway's system, and the alert dropped off before the bug was caught and fixed — costing Highway $100,000. The CCO described theft events as a "Swiss cheese" of compounding decisions rather than a single failure point, and said Highway continuously monitors for ownership changes, inbox compromises, and cyber anomalies within the guarantee framework.
#carriers #capacity #America
1 month ago
Cheapest freight isn't always best, especially when a late shipment can cost millions. ShipStation Global CEO Tom Madine breaks down why SMB shippers need parcel, LTL and truckload in one workflow, and why better freight decisions now matter more than just lower rates. From the merger that created ShipStation Global to adding more modes into the platform, this conversation gets into where shipping tech is heading, how data shapes carrier selection, and what smaller shippers actually need from logistics partners. #FreightTech #LTL #SupplyChain
ShipStation Global is formally launching its less-than-truckload product, marking the first tangible freight expansion since the merger of software provider Auctane, formerly the parent of the Stamps.com andShipStation,and WWEX Group, which previously housed freight brokerages like Worldwide Express. The company's CEO said the rollout represents the opening move in a broader strategy to let small and midsize shippers purchase and manage all transportation modes through a single platform.
"Today's the first day we've really launched the LTL product," said Tom Madine, CEO of ShipStation Global, noting the company plans to add truckload, final mile, and eventually ocean and forwarding capabilities after establishing its inland position.
The strategic rationale centers on eliminating the workflow gap that forced ShipStation users to leave the platform whenever they needed to move freight beyond parcel. Customer surveys repeatedly flagged the absence of additional modes as the top improvement request, he said. With LTL now integrated, shippers can manage inbound inventory movements alongside outbound parcel without switching systems.
"Cheapest is not always best…But at the same time, you don't want to overpay," Madine said, illustrating the point with a customer whose engine shipments carry multi-million-dollar consequences if delayed.
#madine #shippers #parcel #cheapest
ShipStation Global is formally launching its less-than-truckload product, marking the first tangible freight expansion since the merger of software provider Auctane, formerly the parent of the Stamps.com andShipStation,and WWEX Group, which previously housed freight brokerages like Worldwide Express. The company's CEO said the rollout represents the opening move in a broader strategy to let small and midsize shippers purchase and manage all transportation modes through a single platform.
"Today's the first day we've really launched the LTL product," said Tom Madine, CEO of ShipStation Global, noting the company plans to add truckload, final mile, and eventually ocean and forwarding capabilities after establishing its inland position.
The strategic rationale centers on eliminating the workflow gap that forced ShipStation users to leave the platform whenever they needed to move freight beyond parcel. Customer surveys repeatedly flagged the absence of additional modes as the top improvement request, he said. With LTL now integrated, shippers can manage inbound inventory movements alongside outbound parcel without switching systems.
"Cheapest is not always best…But at the same time, you don't want to overpay," Madine said, illustrating the point with a customer whose engine shipments carry multi-million-dollar consequences if delayed.
#madine #shippers #parcel #cheapest
2 months ago
SummaryView Transcript
Saia President and CEO, Fritz Holzgrefe, shares insights into the current LTL freight market, including customer sentiment and Saia's strategic network expansion. Discover how Saia's investment in new terminals and workforce is cutting transit times, offering unparalleled service, and driving growth in competitive markets across the U.S. Holzgrefe also discusses navigating inflationary costs and balancing wage increases while maintaining a focus on customer value. #LTL #FreightMarket #SupplyChain
Saia has opened 70 terminals since 2017 as part of a deliberate, multiyear organic expansion that CEO Fritz Holzreif says is still far from its full potential. Since 2023 alone, the carrier has added close to 40 new locations and replaced or relocated another 30 facilities — a pace of physical network transformation that Holzreif said no other LTL carrier has matched in the same period.
The buildout matters because it has unlocked transit lanes Saia could not previously offer. Customers can now ship freight from Trenton, N.J., to Texas markets in three days, Holzreif noted — a direct result of the denser footprint. "Customers are coming to us and say, 'Oh, fantastic, you can now get my freight from Trenton, New Jersey to Texas markets in 3 days,'" he said. "That's significant. We couldn't do that historically."
"We are early innings of tapping the full potential of this business," Holzreif said, adding that the roughly 40 facilities opened since 2023 have not yet reached the profitability or density levels the company believes they can achieve.
#saia #since #markets
Saia President and CEO, Fritz Holzgrefe, shares insights into the current LTL freight market, including customer sentiment and Saia's strategic network expansion. Discover how Saia's investment in new terminals and workforce is cutting transit times, offering unparalleled service, and driving growth in competitive markets across the U.S. Holzgrefe also discusses navigating inflationary costs and balancing wage increases while maintaining a focus on customer value. #LTL #FreightMarket #SupplyChain
Saia has opened 70 terminals since 2017 as part of a deliberate, multiyear organic expansion that CEO Fritz Holzreif says is still far from its full potential. Since 2023 alone, the carrier has added close to 40 new locations and replaced or relocated another 30 facilities — a pace of physical network transformation that Holzreif said no other LTL carrier has matched in the same period.
The buildout matters because it has unlocked transit lanes Saia could not previously offer. Customers can now ship freight from Trenton, N.J., to Texas markets in three days, Holzreif noted — a direct result of the denser footprint. "Customers are coming to us and say, 'Oh, fantastic, you can now get my freight from Trenton, New Jersey to Texas markets in 3 days,'" he said. "That's significant. We couldn't do that historically."
"We are early innings of tapping the full potential of this business," Holzreif said, adding that the roughly 40 facilities opened since 2023 have not yet reached the profitability or density levels the company believes they can achieve.
#saia #since #markets
1 yr. ago
#business News!
RackRcp
extends safety system at UK site
Click here to read more -> https://shorturl.at/CV1jq
-> #Warehouse #WarehouseSafety #RackingSafety #RackCollapse #SupplyChain #UKNewsGroup #WestMidlands
https://shorturl.at/CV1jq
RackRcp
extends safety system at UK site
Click here to read more -> https://shorturl.at/CV1jq
-> #Warehouse #WarehouseSafety #RackingSafety #RackCollapse #SupplyChain #UKNewsGroup #WestMidlands
https://shorturl.at/CV1jq
