Load Tendering
Load tendering in logistics happens when shippers submit a request for carriers to transport their goods. The load tender document includes information such as the type of goods, quantity, pickup location, delivery destination, and timeline.
Shippers looking to submit a load tender should follow a set of best practices to avoid tender rejection, support the contract compliance process, and facilitate automated billing.
One of the key practices is to give the carriers enough time. A long lead time allows carriers to plan for the shipment, thus increasing the likelihood of tender acceptance. Often, more lead time also means lower rates. An MIT study showed that extending the lead time by five or more days can significantly reduce transportation costs.
Shippers are also advised to choose their shipping time wisely since the day of the week might be the most important factor for price variation. Mid-week tenders often incur lower costs than those submitted on weekends.
Comprehensive and accurate shipment details are also crucial for tender acceptance. Based on the details provided, carriers will assess their ability to accommodate shipments, thus ensuring accurate quotes.
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