Forward Air Adopts TCG
Expedited linehaul LTL service provider chooses Transportation Costing Group’s LTL Cost Information System for profitability analysis
ROCKVILLE, Md. – February 28, 2018-- TCG, an SMC3 company, providers of Activity-Based Costing and Profitability Management Tools™ for truckload and less-than-truckload motor carriers, today announced that Forward Air is now licensing its LTL Cost Information System (LTL/CIS).
“We chose TCG because it was built specifically to provide us with the ability to evaluate profit, lanes and customers in our LTL operation,” said Jeff Woods, senior VP Logistics at Forward Air. “With our new business model, cost analysis had become more complicated and our existing in-house software couldn’t help us manage that activity. TCG’s methodology uses a similar approach to our pricing structure so they understand what we need and provide the right tools to evaluate our profitability.”
Based in Groveport, Ohio, Forward Air is a provider of ground transportation and related logistics services to the North American air freight and expedited LTL markets. The company’s expedited linehaul LTL service operates from over 90 facilities located at or near major U.S. and Canadian airports, 12 regional sort centers and over 300 other locations.
Forward Air began the process of implementing LTL/CIS about one year ago and is currently putting IT resources in place to integrate its cost data with the TCG solution. The company anticipates devoting 2018 to refining its cost analysis activities using LTL/CIS.
LTL/CIS contains unit costs and statistics developed directly from a general ledger and operating data. Carriers using LTL/CIS for pricing may also have a separate model with budgeted or projected unit costs, and a separate record for each terminal containing specific unit costs. LTL/CIS is available as a stand-alone or Local Area network (LAN) system for Microsoft Windows operating systems.
“We are pleased that Forward Air is choosing our Cost Information System to meet the cost analysis needs of its new business model,” said Ken Manning, founder of TCG. “We look forward to working with them to fully implement LTL/CIS in their operation and to help them realize a profitability improvement.”
TCG, an SMC3 Company, is the premier Activity-Based Costing and Profitability Management software provider for the Truckload and Less-than-Truckload Carrier looking to achieve superior profitability. Transportation Costing Group is the provider of the most widely used suite of Profitability Management Tools and activity-based costing models to the motor carrier industry. TCG provides models tailored to specific carrier operations. Information on services and systems offered by TCG can be obtained by contacting us at 800-328-9700 or info@TCGCIS.com. For general product information please visit www.TCGCIS.com.
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