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RFQ Secrets * Canada - How to achieve success with freight bids
The Request For Quotation (RFQ) processCanada -Truck News, by Dan Goodwill -9 Nov 2007: -- As shippers wrestle with the continuing challenges of tight capacity, increasing freight rates and elevated fuel surcharges, many companies are turning to a formal Request For Quotation (RFQ) process to address these issues. The RFQ process is now viewed by some shippers as a mechanism to leverage their freight volumes to secure the capacity they require while ensuring some measure of rate stability... With the development of online freight bidding tools such as Bid$ense from SMC3 and BidSmart from Schneider Logistics, the process of conducting a freight bid has been greatly simplified and enhanced, the timeline has been compressed and the analytical tools much improved over tedious spreadsheet evaluations of the past... In addition, much of the process can be outsourced to organizations experienced at conducting these bids... This has included conducting a number of RFQ's. In this paper, I would like to share with you some of my experiences and offer carriers some suggestions on how to respond more effectively to shipper requests:
* Don't Assume Your Company is in the "Driver's Seat"
* Make sure your Costing Model is Up to Date
* Be Creative
* Submit Your Bid on Time
* Check the Math
* Communicate Your "Value Added" Proposition
* Be Prepared for Multiple Rounds of Negotiations
* If you Secure the Business, Focus Carefully on the Implementation
The RFQ process can be a useful vehicle for shippers to leverage their volumes with carriers that are well equipped to service their requirements. By following the steps outlined above, the carrier may enhance their chances of adding new profitable business to their company's portfolio of customers... (Photo from: blog.petaflop.de)
*Dan Goodwill is president of Dan Goodwill & Associates Inc. He has over 20 years of experience in the logistics and transportation industries in both Canada and the United States. Dan has held executive level positions in the industry including president of Yellow Transportation's Canada division, president of Clarke Logistics (Canada's largest Intermodal Marketing Company), general manager of the Railfast division of TNT and vice president, sales & marketing, TNT Overland Express...
Labels: freight marketing
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