A freight intermediary (also known as an OTI or Ocean Transportation Intermediary) is someone who assists an exporter or an importer in securing competitive freight rates while providing the most efficient routing for their cargoes and alsoRead more
Optimizing the Management of Tenders
The days of managing tenders by spreadsheets are over. New solutions, driven by technology, have entered the market making spreadsheets inefficient and mundane. Indeed, for the freight forwarder, today’s trade environment is constantly in motion and is continuously evolving. But, the freight forwarder still finds himself spending a considerable amount of time managing tenders and as a result often employs large organizations to handle tender management.
Juggling the Spreadsheets
Nothing is really wrong with spreadsheets, but when one is working in any fast pace industry in which trade is imperative, then there’s a problem. The success ratio of tender management is often low, and it is difficult to get everything done on time due to the sheer amount of work and different people involved. Not to mention exceptions that will come up. There will be something that goes not exactly according to plan and response time will be critical and negotiations can be time-consuming.
In addition, customer formats and requirements will vary and forwarders will often find themselves having to grab information from a number of different systems in order to comply with customer requirements.
Portrix Logistic Software (PLS)’s Global Price Management (GPM) platform has the capabilities of easing forwarders’ tender management pains. For example, PLS has created a bespoke Excel extension for its Global Price Management (GPM) package. With Tender Assistant, optimized shipping rates are automatically sourced from GPM and inputted into Excel tender documents. This reduces workloads, increases productivity and revolutionizes a laborious process that is the bane of freight forwards and carriers worldwide.
Another great service within GPM is the new Quotation Workflow which allows forwarders to locate the best rates. All the user does is to send an internal request via GPM to ask for rate updates. This eliminates the need for back-and-forth emailing and ensures that the eventual rate changes are captured in GPM so they can be used for operational purposes, and everyone involved in the tender process is clear on who has quoted what and when.
According to CEO and founder of PLS, Henning Voss, “Tender Management today is, to some extent, stuck in the dark ages. It’s a manual, time consuming, frustrating and expensive process for both freight forwarders and carriers, all of whom have to employ teams specifically to search for the right rates for individual quotes and fill in a myriad of Excel sheets. These teams spend 90% of their time doing this and only 10% reviewing and analyzing the final tender proposals to ensure they are optimal.”
Find out more
There’s been a considerable buzz of late that Amazon is priming itself to push FedEx and UPS out of the game as a carrier. The first thought was that Amazon’s drones would be a major disruptor, eliminating the need for carrier trucksRead more
Get ready, the car you’re probably driving is going to look and feel much different 10 -20 years from now. Indeed, after attending Automotive Logistics’ Global Supply Chain conference recently, I cameRead more
Last month Portrix was pleased to announce a strategic partnership with WNS, a business process management company based in Mumbai, India. According to the joint press release, WNS and PLS will work together to help improve outcomes for freightRead more
Will Amazon compete against the likes of DHL, FedEx and UPS is one of the most talked about questions in the market. The Big 3 is certainly feeling Amazon’s presence throughout the world but instead of intentionally competing directlyRead more
Sometimes despite following your company’s process in booking freight shipments, delays can happen and result in extra charges. Take for example, the unfortunate bankruptcy of South Korea’s HanjinRead more
It doesn’t matter who you are or where you go, whether it be to a restaurant for a meal, the department store to buy a new shirt, or even simply ordering a product online, customer service will somehow work itsRead more
Freight forwarders have ridden the waves of globalization for the past 20 or so years. Outsourced manufacturing to China, the opening of emerging markets in Africa, the Middle East and Latin America and the rise ofRead more
Over the years, the process of obtaining freight rates has been one marked with numerous inefficiencies including the length of time it takes to obtain a quote and then turning that quote quickly into a booking.Read more
Tesla and other car manufacturers have been taking the spotlight in automotive news as they begin to make the shift away from fossil fuels. While the concept of an electric car seems like something altogether new,Read more