In many ways, the success of a company’s transportation operations begins with how well it plans and executes its transportation procurement process. Do it right and you end up with competitive rates, assured capacity, and reliable service. Take the wrong approach or strategy and you might end up paying too much, scrambling for capacity, or dealing with service issues. Although there is no “one size fits all” approach to transportation procurement, there are some fundamental practices that shippers should consider when developing their transportation procurement strategy and executing a bid.
In this episode, Tim Dalton, Procurement Manager at LeanLogistics, provides an overview of these fundamental practices and answer common questions many shippers have, such as:
When is the right time to conduct a procurement engagement? Should we put all of our lanes out to bid or just a portion? What type of carriers should we work with? How do we evaluate them? How do we decide between incumbent and new carriers? What is the best way to leverage benchmarking data and market intelligence? How do we measure the success of a procurement engagement?