We're now in the final installment of our RFP series. Together, we've discussed in-depth the relationship between your organization and RFPs as the market changes.
Here's a quick recap. In our first piece, we defined RFPs and mini bids, discussed the differences between them, and how both affect the market. Our second piece touched on some aspects of what to include in your RFP, and what data to keep handy for preparation.
In our final piece, we are going to explore how fatigue can affect your business, and how Morgan's solutions can help you avoid those headaches.
Bidding Fatigue and Bottlenecks
First, let's take a look at what general bid fatigue can do to organizations.
As more bid requests – whether they be mini bids or full RFPs – come through the pipeline, fewer and fewer organizations are actually taking the time to respond. With carriers already facing huge capacity limits thanks to the rise of the Omicron variant, rates in the market are bound to rise.
This rate uncertainty can lead to overspending, and bidding fatigue can burn out your internal team, too. We touched on how staying up to date with your data is the best way to mitigate any stress put on your internal team and prevent bottlenecks. Now, we are going to look at what tactics can prevent this from overstressing your internal bid response.
The method to reducing bid burnout can be broken down into three steps:
- Analyze your current assets and procurement to make sure they match your current supply chain activity and are being fully utilized.
- Align every team in your organization under a single end-to-end enterprise process and data source.
- Audit your processes every quarter to ensure that the above two are being followed.
Taking these precautions toward your bids not only keeps you up to date on the data you collect, but helps you monitor any new carrier rate trends in the market. By frequently analyzing your data and ensuring your assets are used to the best of their ability, you can keep your bidding fatigue in check.
If you've been with a carrier for a while and are finding that you continuously have to change your process due to misalignment or other general road bumps, it may be time to set your sights on a new network.
Improving Your Supply Chain with Morgan
With Morgan's intuitive, custom-tailored networks, you're not working off of a standard set of transportation options. No two supply chains are alike, so it's our priority to give you an end-to-end solution that meets your exact transportation needs and volumes.
Morgan's customized solution will:
- Help you analyze your assets across your entire supply chain, and identify potential mis-matches. Our custom approach to creating your network is designed to pinpoint any areas of your network that could run with better reliability or efficiency. This could help you trim costs you may not have even known were available to cut.
- Take the stress of management off your shoulders. Our third-party management creates a sustainable plan for your organization to operate and scale, so you don't have to.
- Strategize with high performance. At Morgan, we believe in bringing the highest value to your organization. We work to provide not only lower transaction costs, but a better end-to-end experience.
At Morgan, we look to elevate your shipping process and optimize your time for an overall better network experience. To see how we can help, reach out to our team!
