Less-than-truckload giant Forward Air decided to go with an outside provider as it upgraded its cost-analysis system for determining pricing, licensing the LTL Cost Information System from Transportation Costing Group.
Terms of the deal weren’t released.
“With our new business model, cost analysis had become more complicated and our existing in-house software couldn’t help us manage that activity,” said Jeff Woods, senior vice president of logistics at Forward Air.
The LTL Cost Information System includes unit costs and statistics developed directly from a general ledger and operating data. Forward Air reported it will integrate its cost data with Transportation Costing Group and devote 2018 to “refining its cost analysis activities using LTL/CIS.”
Transportation Costing Group markets the Activity-Based Costing and Profitability Management Tools for truckload and LTL motor carriers. Transportation Costing Group is a unit of SMC3, a provider of LTL transportation pricing and transit detail into data-centric solutions.
Groveport, Ohio-based Forward Air ranks No. 37 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.