According to the Economic Survey 2019-2020, the value of the Indian logistics industry is expected to touch $ 160 billion and $ 215 billion in the next two years. The Indian logistics market is growing at 10.5 percent CAGR and interestingly employs over 22 million people in the country since the implementation of GST.
Logistics is an important part of your day-to-day operations, irrespective of the size of your business. Logistics allows you to more effectively influence your current supply chain and sales. Effective logistics and transportation can help you reduce costs and at the same time create time and resource consumption.
With a variety of shipping methods, it can sometimes become confusing for companies to choose the best option depending on their needs. For many On-road shippers, to move their cargo from one point to another truckload shipping is the only ideal choice, due to its convenience and affordability. There are two methods available for truckload shipping – Full Truckload VS Part Truckload.
FTL and PTL shipping differ in many important aspects and therefore it is very important to understand the differences which will help you make the most right choice. Here is a basic introduction to the differences between FTL and PTL shipping.
FTL shipping means Full Truck Load, which means the goods transportation takes the entire truck itself. This is possible when you are able to load your freight truck fully consuming its total capacity, generally having a one-stop destination. On the other hand, PTL shipping is Part Truck Load, which means that the shipment does not take up the entire truck. This type of freight is usually between multiple destinations planned in a designated path.
Full Truckload VS Part Truckload
Choosing FTL is an easy option when you have large shipments. However, sometimes small shipments can also benefit from FTL freight. For example, if your shipment is a high-risk commodity, FTL is a good choice.
Another advantage is that FTL exports remain intact in the primary truck and not transferred during shipment, thus reducing the risk of loss due to damage. This mode of transport is faster than PTL, as there is only one transport onboard and there are no multiple stops along the route.
However, when proceeding with PTL transport, you only have to pay for the space used by the truck. For example, if your transport truck occupies one-third of the space for your shipment, then you only need to pay for that one-third of the space. The rest of the truck is loaded with other cargo from some other companies which make PTL freight the best choice for small businesses. But, due to multiple shipments and frequent stoppings, the transport time of PTL freight is longer. If time is one of the major essences, then you need to consider FTL shipping as the first priority.
Although FTL costs more than PTL shipping methods, CtrlT personally believes that it comes with many benefits for the shipper. The shipper does not have to share truck space with another company as mentioned above. The truck can go directly to its destination without additional stops, creating a much more reliable shipping time period than what PTL offers. The total financial cost for FTL shipping becomes more economical when compared to the cost of splitting your shipment into smaller units for PTL goods. This leads FTL shipping to be an affordable and genuine option for carriers to process bulky goods quickly.
In the end, one must not forget that “Time is Money”. If your product sits in the back of the PTL van for many days, your payment from the customer is delayed and he might even prefer your competitors. Hence, shippers must use full truckload shipping to transport PTL cargo in the back of a full-size van or trailer by better planning their shipments and consolidating smaller PTL shipments into a larger FTL Shipment. This is where CtrlT would be useful for all the small and medium companies to better manage their transport requirements for both FTL & PTL.
If you are interested to know more about our services, reach out to us at www.ctrlt.in. We would be happy to help you solve your freight management needs.