The National Motor Freight Traffic Association (NMFTA) has introduced a new benchmarking program aimed at enhancing operational efficiency and talent recruitment within the less-than-truckload (LTL) industry. This initiative marks a significant step towards fostering collaboration and data-driven improvements among LTL carriers.

• Confidential Data Sharing: Participating carriers are required to sign confidentiality agreements and share their operational metrics. NMFTA aggregates this data, allowing members to compare their performance against industry benchmarks without revealing company-specific information.
• Regular Meetings: NMFTA plans to host three meetings annually in collaboration with KSM Transport Advisors. These two-day meetings will focus on various themes important to members, such as recruiting and developing pricing talent.
• Focus on Talent Development: The inaugural meeting emphasized strategies for recruiting and developing pricing talent, highlighting the critical role of pricing in business development. Discussions included whether to recruit in-house or through external programs like colleges.
• Member-Driven Agenda: Future meetings will be shaped by member surveys and voting, ensuring that discussions remain relevant to current industry trends. This approach allows the group to address timely issues and share best practices.
• Antitrust Compliance: The program operates within standard antitrust guidelines, ensuring that all shared data and discussions comply with legal requirements^.

Reference: Transport Topics