What is Freight Procurement?
TMS Glossary
What is Freight Procurement?
Freight procurement is the process of sourcing and negotiating transportation services from carriers to optimize shipping costs and performance. Businesses use freight procurement solutions to secure the best rates, build carrier relationships, and improve logistics efficiency.
Why is Freight Procurement Important?
- Reduces Freight Costs – Enables competitive rate negotiations.
- Enhances Carrier Selection – Helps identify the best carriers based on service and pricing.
- Improves Supply Chain Resilience – Diversifies carrier options to mitigate disruptions.
- Streamlines Contract Management – Ensures compliance with negotiated rates.
- Boosts Shipping Efficiency – Automates procurement workflows for faster decision-making.
How Does Freight Procurement Work?
- Compare Rates – Across multiple carriers.
- Automate Bidding – And carrier selection workflows.
- Monitor Compliance – Track contracts and performance.
- Analyze Trends – Leverage cost data for better decisions.
Key Features of FreightPOP’s Freight Procurement Solution
- Automated Carrier Bidding – Streamline negotiations with multiple carriers.
- Multi-Mode Procurement – Secure rates for parcel, LTL, FTL, and intermodal shipments.
- Rate Benchmarking – Gain insights into competitive market pricing.
- Seamless Integration – Connect with TMS and ERP for procurement management.
Learn more about Freight Procurement with FreightPOP
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