Market volatility, unpredictable supply and demand, the capacity shortage, and digital technology are reshaping how shippers, freight brokers, logistics providers and carriers are negotiating contracts. Market turbulence is driving some shippers to move to a mini-bid or quarterly RFP/RFQ process instead of a yearly one, which means a faster turn-around time if you’re responding to an RFP. Real-time visibility platforms and digital freight matching empower freight brokers and 3PLs like you to bid with greater accuracy, include on-time delivery and visibility metrics in bids, and expand your carrier capacity networks with relative ease — all of which strengthen your bid and build confidence with shippers.
Check out these five ways technology has changed the RFP process for freight brokers and 3PLs.
1. Access to Accurate Data on Specific Lanes
Most RFPs/RFQs include information on the frequency, volume, value, pickup and delivery location requirements of shipments. You can increase the chances that you’ll win a contract by using real-world data to build your bids. Technology such as Trucker Tools’ digital freight matching platform allows you to research lanes and carrier capacity availability when preparing your bid. All of the capacity and lane information you see in the platform is based on the real-time movement of trucks, which helps ensure your bids are as accurate as possible. Predictive freight matching technology, which is included in Trucker Tools’ digital freight matching platform, allows you to research future capacity, which further strengthens your proposals.
2. Real-Time Visibility Platforms Reduce Delays, Improve Quality of Bids
In order to be considered for a contract, you often must provide information on your company’s on-time pickup and delivery, delivery on time in full, and load acceptance/rejection rates. Load tracking technologies such as Trucker Tools’ real-time visibility platform help reduce delays in your day-to-day operations, which ultimately makes you more competitive in your bids. Trucker Tools’ load tracking platform uses the GPS technology in the trucker’s smart phone and the Trucker Tools driver app to provide your team with highly accurate location updates that are viewable in your TMS. These updates occur every five minutes, thereby making it easier for your team to address service delays in real-time as they occur and improving your on-time delivery rates.
3. Data on Carrier Performance, Including Visibility Compliance
When you use a real-time visibility platform like Trucker Tools’ you can easily provide real on-time pickup and delivery, delivery on time in full, and load acceptance/rejection rates in your bid. Freight brokers and logistics providers that have implemented Trucker Tools’ real-time visibility platform often are able to meet and surpass shipper delivery and visibility KPIs. Brokers and 3PLs on Trucker Tools’ platform also often are able to achieve high carrier compliance rates with the Trucker Tools driver app, the carrier component of the platform, thanks to the 17+ other features and tools included in the app that help drivers save time and money on the road.
4. Greater Access to Small Carrier Capacity for Carrier Sourcing
The shipper also needs to feel confident in your ability to meet their current needs and those that they may have in the future, which is why you should include information on your carrier network and carrier sourcing strategy in your bid. Small carriers and owner operators are an under-utilized capacity source, even though they provide more than 90 percent of the capacity in the U.S. truckload market. You can use Trucker Tools’ market share with the small carrier community to build confidence with shippers and show them you have a sound carrier-sourcing strategy in place. At present, more than 170,000 carriers, most of whom run fewer than 10 trucks, use Trucker Tools’ platform. Trucker Tools’ digital freight matching platform allows you to expand your carrier network as needed and tap into that network of mostly small carriers when your shippers need it.
5. Automation of Manual Processes Speeds Up Processes, Making You an Attractive Prospective Partner
Shippers are looking for partners who can leverage technology to handle their shipments in efficient, cost-effective ways. In transportation, the longer it takes to complete a task, usually the higher the cost. It behooves you as a freight broker or 3PL to optimize your operations for efficiency by reducing manual tasks. Using real-time load tracking technology to track loads instead of check calls allows your team to respond faster and better service your shippers. The same holds true for using digital freight matching technology. If you use a digital freight matching platform such as Trucker Tools’, you often can cover loads faster than you can with manual methods, such as load boards or by calling/emailing carriers to inquire about available capacity.
Looking for ways to strengthen the long-term health of your logistics business? Read Seven Ways Trucker Tools’ Tech Can Help You Build a Self-Sustaining Logistics Business. Schedule a free demo of Trucker Tools’ real-time visibility platform, digital freight matching and Book It Now®.
