…No, it has nothing to do with dating apps.
This week’s Market Update is filled with the phrase rejection rates. While entertaining to think about the correlation of this phrase and the relationship status of most of the LYNC employees, I don’t think that’s quite what our National Rep Aaron was getting at.
What are rejection rates?
Rejection rates are the percentage of electronic, contracted loads from shippers that are rejected by carriers—keyword: contracted. Why? Because once a contracted load is rejected, it goes onto the spot market where, in a tight market, rates are typically higher.
Why do loads get rejected in the first place?
After any rejection you’re always left asking, why? Thank goodness tender rejections are a little less nuanced than relationships, at least we think so. Beyond just not having the capacity to take on any more loads, carriers may see better options in terms of rates and lanes available in the spot market or from another shipper or broker.
Rejections can also come down to some finer details. Having a short lead time can get your load rejected in favor of loads posted further in advance, allowing carriers to pre-book multiple loads and decrease the likelihood of having to deadhead to their next pick-up.
Lastly, just like a few white lies on a profile won’t lead to a second date, mistakes or discrepancies on a Request for Proposal can lead to rejections. Filling out your RFP with as many details as possible and as accurately as possible increases your chances for an accepted load, no matter the market.
What does that mean for shippers?
Well, no one likes to be rejected—but right now the Midwest has a tight capacity and high rejection rates. Even where rejection rates are flattening, they’re still well above the national average. However, you can make sure your freight gets to its destination by letting someone else do the hard work for you—someone like our brokers at LYNC. Reach out today to get your freight on the road.