Importance

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Abstract

A computer-implemented method of facilitating the pricing of freight transportation services entails receiving information to compute pricing benchmarks from which a suggested price may be selected. The information may include, e.g., the commodity to be transported, the origin and destination, the vehicle type, and whether the customer owns the vehicle. In some cases, the type of commodity will dictate the appropriate type of vehicle (e.g., a covered hopper railroad car). Additional information may include the customer's name, user's identification, date, shipment dates and other information related to the potential transaction. Benchmarks may be computed based on the aforementioned information, historical data and pricing guidelines. The benchmarks account for best current rates, the amount a competitor would charge for transporting the commodity, costs, a minimum financial return, a desired profit, and historic rates per mile for the relevant commodity. The benchmarks, which may be computed in any order and according to various formulae so long as they establish desired limits for pricing, are used to determine a suggested price that is competitive, provides a desired financial return and does not cannibalize any existing traffic.

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First Claim