3 Excel Practices Sourcing Can Stop Doing Today

Freightender – 3 Excel Practices Sourcing Can Stop Doing Today

Many companies have, over the last 15 years, evolved transportation sourcing to strategic procurement processes with a dedicated staff. Nevertheless, there is still plenty of room for improvement in the logistics procurement process.

Just like material sourcing, the transportation equivalent has followed an evolutionary road, moving upstream from an everyday freight transaction process to an integrated component of top-level corporate planning and procurement strategy. Large and mid-size firms often have procurement teams in place but lack coordination between business units or geographic offices. Moreover, without dedicated automation, the freight RFQ process remains a time-consuming practice. Smaller companies have lean shipping departments and are often focused on moving products fast and energy remaining to negotiate contracts and analyze freight spend.

But as a strategic process, transportation sourcing remains intensive, tedious and challenging. Managing bid packages, for instance, can be time-consuming and complex. It makes sense that strategy is often replaced for immediate needs of getting products shipped out the door, sourced on the lowest cost variant. Moreover, the lack of tools is often causing an intransparent trail throughout the DNA of a company. A strategic approach, together with a dedicated transportation sourcing solution streamlines the bid process in several ways. In this blog, we merely focus on the automation part of freight tenders. In general, there are 6 components that can be automated.

3 Excel Practices Sourcing

6 Tender functions that can be automated

 

  1. Communication
  2. Data collection / management
  3. Lane and rate card construction
  4. Reporting and analysis
  5. Scenario building
  6. Nomination

 

3 Excel Practices LOGISTICS PROCUREMENT Can Stop Doing Today

1. Stop building lanes in Excel
2. Stop constructing rate cards in Excel
3. Stop running analysis and reporting in Excel

More Tactics that drive strategic transport and logistics tenders

 

Here are more strategies that improve freight tender management with supply chain advantages as a result. When looking for transportation tender software, Chief Procurement Officers should look for the following features:

  • Manage bids for all modes of transportation with one tool, inside the cloud.
  • Choose what you share. You can provide suppliers with extended lane metrics, helping them speed up the process or cherry-pick.
  • Tender software supporting multiple round bidding
  • Analysis of historical shipment data and costs
  • Extended scenario-building
  • The ability to calculate subjective information unrelated to pricing

 

 3 Excel Practices Sourcing Can Stop Doing Today – Freightender freight E-tendering  TWEET THIS!

 

Conclusion

 

Companies looking to streamline logistics costs or improve trade routes should aim towards a strong combination of technology (sourcing software) and a strategic sourcing process. The procurement of freight has a significant influence on how shippers and logistics providers manage the relationships with transportation partners. In that sense, companies working with an exclusive Excel-based freight sourcing process, are missing out on strategic benefits.

About Freightender Freight E-Tendering

 

Freightender E-sourcing is rapidly becoming the standard in freight tendering.  We are actively engaged to take away the frustrations, complications and high costs in logistics tenders. Our clients are extremely satisfied with our comprehensive platform. It allows everyone involved with logistics to create and manage tenders in an easy and structured way. Next to that, we take away issues regarding communication and data management. Want to learn more? Please leave your details and we are more than happy to provide you and your team with a demo. Thank you for reading and don’t be shy sharing this content to anyone who can use it!

Request a free, online demo of Freightender here

 

Pieter Kinds

Pieter Kinds

CEO Freightender.com

Freightender is the standard in freight tendering. It makes the tender process lean, smarter and much faster. 
Fully cloud-based. Curious? Request a free live demo and join the Freight Tender Revolution!

Schedule Demo Freight Sourcing

Schedule Demo RFQ Management

Freightender Podcast: Digitization in Logistics and Procurement

Pieter Kinds, founder and CEO of Freightender, in conversation with Martijn Graat, founder of LogisticsMatter, a leading online supply chain and logistics news platform from the Netherlands. Podcast: Digitization in Logistics and the Procurement of Freight The...

Ocean capacity crunch fuels the importance of modern logistics software

Ongoing extreme events that impact global trade and logistics keep on happening and require logistics teams to be more flexible and agile to handle chaos and the unforeseen. While strategic thinking is very much required, tactical action is key. The right partnerships...

What is managed freight procurement? What are the benefits?

What is freight or logistics procurement and is there a difference between the terms procurement, purchasing and buying? We explain why procurement is of added value to your organisation. And we take a closer look at the increasingly 'in demand' managed freight...

Freightender and Pagero partner to offer seamless end-to-end process for freight buyers

February 25th, 2021 The joint offering integrates both company apps to provide an “unprecedented array” of logistics functionalities for buyers in the transportation industry. Freightender and Pagero have entered a partnership to provide a seamless supply chain...

Freightender CEO Pieter Kinds in panel TPM21 by JOC

Freightender CEO Pieter Kinds will join the TPM21 panel on the 25th of February. He will be speaking about using a data-based approach to Freight Procurement and Allocation. Rate benchmarking and freight procurement data As many people in the logistics industry are...

Talking tenders, mini-bids and digitalisation with Freightender CEO Pieter Kinds

It’s been a rollercoaster year for just about everyone in the logistics industry, and Freightender CEO Pieter Kinds is certainly no exception. Since the start of the year, the Dutchman has re-branded his company, navigated the troublesome waters of the pandemic, and...

How shippers and forwarders can streamline the freight tender process

In the forwarder world, there are a lot of people you typically don’t deal with as a shipper yet they are handling and responding to your tender: tender managers, pricing managers and pricing analysts. Their job is often performed under high pressure from the outside...

Freightender and Portrix Logistic Software partner to empower freight forwarder tender teams

Sep 28 2020 at 09:23 AM In 2020, the need for digitization in logistics has really accelerated and this is especially true for the freight forwarding community. One of the main areas of focus for forwarders is how freight tenders are being managed today– often a...

Freight Tenders: 5 crucial tips to ensure carrier engagement

Freight tenders are not only dependent on solid freight data (historical data). The willingness of carriers to participate in freight RFQ's is a big factor as well. In this article, we share 5 vital tips to increase carrier participation in your freight tenders. The...

Digitize logistics procurement: 5 Reasons to act NOW!

Many companies are now developing strategies to buy freight in a more digital and efficient way, creating a new structure for a lean and innovative way to logistics procurement. What are you doing? More and more forwarders discover areas for optimization and...