High levels of market instability over the past two years have put serious pressure on shippers to adapt and innovate in order to remain viable. Companies have faced constrained capacity, soaring rates and continuous port backups. These challenges have made it difficult for shippers to navigate relationships with their carrier partners while weighing the importance of their own bottom lines.
In light of this, shippers have been seeking new ways to cut costs and add flexibility to their supply chains. This has led many companies to re-evaluate their freight procurement methods, zooming in on out-of-date RFP processes. Traditionally, RFPs have been conducted on an annual basis because antiquated, spreadsheet-heavy bid processes tend to be both expensive and laborious. As shippers become more hesitant to lock themselves into yearlong rates in a volatile market, they are starting to pay more attention to modern, tech-enabled RFP solutions.
FreightWaves partnered with Emerge to survey shippers about their current bid processes, priorities when it comes to transportation partners and hesitations toward RFP reform. Complete the form below to access your complimentary copy of the complete report.