How can manufacturers reduce their freight costs with the automated Reverse Auction feature?

The automated Reverse Auction feature in digital freight sourcing platforms offers transporters the opportunity to revise and resubmit their freight quotes and improve their rankings. All activities of negotiations are captured in real-time, ensuring the best market freight rates and transparent negotiation activities, helping to evaluate reasons for deviations and discrepancies.

Superprocure’s digital SP Freight Sourcing: SPOT solution offers the reverse auction feature to tackle these roadblocks in the freight negotiation processes, like high freight rates, non-transparent negotiation activities, and audit gaps.

This optimal feature yields performance-driven benefits like:

• Up to 9% reduction in overall freight cost
• 100% audit and process compliance
• Real-time insights into freight negotiation activities for identifying reasons for freight rate deviations and discrepancies. 

SuperProcure’s reverse auction feature automates freight negotiation processes in 5 simple steps

Float the load requirements on a digital platform to reach multiple transporters. This ensures an increase in transporters’ participation which expands the scope of negotiations.

All registered transporters are notified instantly via app notifications, emails, and SMS to prompt their participation in the bidding process. This ensures that manufacturers receive freight quotes from multiple transporters.

The transporters submit their freight quotes to the digital platform according to their vehicle availability. Per their freight quotes, SuperProcure’s system auto-allocates ranks to transporters in descending order as L1, L2, L3, and it goes on.

SPOT solution’s reverse auction feature allows transporters to view their allocated ranks in real time, ensuring transparency.

Every transporter gets an opportunity to revise and resubmit their freight quotes to improve their ranking and get the business. This ensures competitive market freight rates for manufacturers and a notable reduction in freight costs. 

SuperProcure helps all businesses optimize freight negotiation operations in various industries. SP Freight Sourcing- SPOT’s automated solution equips Indian enterprises with the best market freight rates and real-time visibility into freight negotiation activities.