A rate management system (RMS) is a software solution designed to help businesses manage, compare, and apply shipping rates across multiple carriers and services. SHIPrq’s rate management software gives logistics teams complete control over shipping costs, offering visibility into carrier pricing, service levels, and performance in one centralized platform.
With SHIPrq, you can instantly compare contracted, published, and negotiated rates. Automate routing decisions based on cost, transit time, or service level. Access reporting tools to uncover cost-saving opportunities and optimize your shipping strategy. Whether you are shipping domestically or internationally, SHIPrq makes your rate management process faster, more accurate, and more strategic.
With SHIPrq, managing rates becomes a competitive advantage rather than a manual, time-consuming task.
Key Features and Functionality
Automated Rate Calculation: Calculate shipping rates automatically based on factors such as cargo type, distance, weight, and shipping method. This ensures consistency and reduces the risk of manual errors.
Contract Management: Store, update, and manage all carrier contracts in one place. This ensures that rate information is always accurate, current, and easy to access.
Quote Generation: Generate real-time, accurate shipping quotes using stored contract data and calculated rates. Improve response times for customer inquiries and internal estimates.
Integration with Other Systems: Connect your RMS with Transportation Management Systems (TMS), Enterprise Resource Planning (ERP), or Order Management Systems to ensure a seamless flow of logistics data across platforms.
Reporting and Analytics: Gain insights through detailed reports and dashboards that analyze freight costs, rate performance, and carrier efficiency. Use this data to make better business decisions.
Benefits of Using a Rate Management System
Increased Efficiency: Automate rate calculations, quote generation, and contract updates to reduce manual work and speed up workflows.
Improved Cost Control: Gain complete visibility into your freight spend and use rate comparisons to negotiate better deals with carriers.
Enhanced Customer Satisfaction: Deliver fast, accurate quotes and better communication with customers, improving trust and overall service quality.
Data Accuracy: Centralize all rate and contract information so that your team works with consistent and reliable data.
Better Decision Making: Leverage analytics and performance data to optimize carrier selection, monitor trends, and identify areas for savings.
Who Uses a Rate Management System?
Freight Forwarders: To manage contracts and generate competitive quotes for clients.
Logistics Service Providers: To streamline operations, manage shipping costs, and ensure consistent pricing.
Shippers: To compare carrier rates and improve supply chain efficiency.
Carriers: To manage and distribute rate agreements and track compliance with pricing structures.
What is the meaning of rate management?
Rate management refers to the process of organizing, updating, and applying transportation or freight rates to ensure accurate pricing and cost control across logistics operations.
What is a management system example?
A common example is a Transportation Management System (TMS), which helps businesses plan, execute, and optimize their freight operations. SHIPrq’s RMS is another example, focused specifically on managing shipping rates and contracts.
What does FMS mean in logistics?
FMS stands for Freight Management System. It is a broader system that helps manage various aspects of freight logistics, including routing, scheduling, carrier selection, and freight payment.
What is an AMS management system?
AMS typically refers to Automated Manifest System, used by U.S. Customs to track cargo arriving by air or sea. In logistics tech, AMS may also refer to other automated systems for managing shipments or inventory depending on context.