Repairing the routing guide: How mini-bids add flexibility

What’s the best way to repair a broken routing guide? In these days of COVID-19, the question comes up with increasing frequency, with widespread market disruptions and network imbalances leaving many supply chain experts scrambling for solutions.

At a recent roundtable discussion, members of the Freight Market Intelligence Consortium – a group of leading shippers who rely on analytics from DAT iQ – discussed the rising adoption of mini-bids.

While not designed to eliminate the annual procurement process, mini-bids act as a supplemental strategy, providing short-term revisions to rein in costs and shore up failing routing guides. It’s an approach that’s been used for decades, but now with access to cutting-edge freight analytics, the strategy is becoming more and more common.

Get your copy of Maximize Your Mini-Bid: How Short-Term Contracts Produce Long-Term Benefits.

In the new eBook Maximize Your Mini-Bid, you get a detailed breakdown of how these short-term contracts can be deployed in your own operations.

But in order to execute on these strategies, you need reliable and relevant data that allows you to anticipate and plan for changes in the marketplace. In the eBook, you’ll learn about the tools used by members of the FMIC (formerly part of Chainalytics) to respond to volatility in the marketplace.

Download your copy of Maximize Your Mini-Bid and learn how DAT iQ can help you achieve long-term success with short-term contracts.