As we enter Q4, it’s time to Go Bid or Go Home. In the latest report from the Logistics Manager’s Index, transportation capacity continues to rise, as businesses sit on already overstocked inventories. Per the Wall Street Journal, freight rates are plummeting from the historic highs of the previous year, as ocean shippers cancel record numbers of sailings due to slowing demand. With this current economic environment, the carriers are starting to feel the pinch.
So, what does all this mean for your business? It’s simple: Now is the perfect time to renegotiate your freight agreements.
With freight capacity soaring, carriers are starting to lose the leverage that allowed them to drive transportation rates to back-breaking highs in recent years. That helps to level the playing field, and puts the negotiating power back in the shipper’s hands.
Now, with the market primed for RFP’s, the question becomes: Do you have the right tools to make the most of it?
Freight bid negotiations are no easy task. They involve many moving parts, the least of which are identifying desirable carriers and keeping up with multiple lines of communication. That’s before you even get to analyzing convoluted agreements and massive data sets trying to find the best pricing.
That’s where Zero Down’s Freight Optimization Module comes in. Our best-in-class technology tool provides:
- Automated analyses across all modes
- Detailed pricing data down to the individual shipment level
- Breakdowns by location, division, weight break, accessorial, and class
- What-If scenarios
- Carrier report cards
As well as utilizing the most sophisticated rating engine on the market, our Freight Optimization Module allows clients to easily and efficiently handle responses from multiple carriers. We simplify communication channels during the bid project to achieve the best possible agreements for your business, while maintaining your relationships with the carriers themselves.
Experts will tell you: Timing is everything. But having the right tools and expertise at your disposal to take advantage of good timing is what can make all the difference.