Bid season is a massive puzzle. It’s a timed challenge in which you have to make the right moves with the right players in the hopes that you put together a profitable arrangement for the year to come. So how do you put together a winning year of business? Here are three key ideas to keep you headed toward bid success.
Video transcription below:
Jennie Ford: What would you say are the biggest challenges fleets face when bidding on freight today?
Brian Larwig: It's a myriad of challenges, the biggest starting with availability of data and history of data they have. So you don't wanna be making these decisions and moving forward with pricing for your business in a vacuum.
Jennie Ford: How does Engage help a carrier standardize their processes and allow for more collaboration?
Brian Larwig: It allows for training, improvements, best practices across organizations. Just, all the benefits you'd expect to come along with standardization. And in the end, your output's gonna be standardized, which is really the most important part.
Jennie Ford: How can a smaller carrier level the playing field when they are at such a data disadvantage?
Brian Larwig: So the way you do that, consolidate, collapse data from not only yourself but what the market and what companies like you have been doing as well. So things like the market rate index, that pull in historically, currently, whatever time frame you want, how a particular lane, region, however you wanna define your area, is being priced, has been priced and would be expected to be priced moving forward. When you put a lot more historical data together, easy to reference, easy to use as your own guidepost for pricing, easy to get to, easy to slice and dice in whatever format you want, you come out of it with an advantage, or a more level playing field.
Jennie Ford: How can Engage ensure that a carrier is pricing with confidence and ensuring that they get every penny they can?
Brian Larwig: Working on your own, you may have... Your number one guidepost is just your experience, nothing can really replace that. That's your goal. That's what you own. That's what you hold on to. However, the more you can augment that with other guideposts, such as how that lane has behaved, or how you've treated that lane historically as an organization; have you been on it before, have you worked with that shipper before; if so, how was that treated; how was it handled, what decisions did you make before, what worked, what didn't. And in addition, what the market as a whole has done with that geography, that lane, whatever way you wanna break it down, being another guidepost that helps you along the way to make these better pricing decisions and ensure you're not leaving pennies on the table.
Jennie Ford: Lastly, where can our viewers get more information on the Engage series?
Brian Larwig: The best place to reach those would be to contact us for a demo or watch our recent webinar, Bidding with Confidence and Conviction.
It’s been roughly 30 years since computers topped man in the ultimate test of strategy: the game of chess. Computer intelligence has advanced to the point that machines create strategies and execute tactics that outsmart the best and brightest chess champions.
Topics: Freight Bidding Software
Bid season 2016-2017 is winding down.
Shippers are reviewing the latest round of carrier rates and volume commitments; carriers are anticipating lane awards and subsequent impact on their operating network.
Congratulations, you’ve been awarded a new freight contract. But wait, a few surprises buried within the transportation RFP might make it difficult, if not impossible, for Operations to efficiently and profitably execute the business.