Waterfall Tendering Using Rose Rocket

Automating the tendering process enhances efficiency, reduces manual communication, and ensures timely load coverage by systematically engaging carriers based on predefined criteria.

Table of Contents

How It Works

Setting Up Waterfall Tendering: Create Partner Carriers & Configuring Tariffs

Using Waterfall Tendering

Automatic Load Tendering

Managing Carrier Responses

Common Issues & Troubleshooting

Description Summary

Waterfall Tendering automates the process of offering loads to multiple carriers in a prioritized sequence, streamlining carrier selection, and load assignment.

User Segment

Admins, Managers, Operations, CSRs

Benefits

• Automated Load Tendering: Save time and optimize carrier selection by automating the tendering process.
• Efficient Resource Use: Manage more loads with fewer resources and enhance margins.
• Real-Time Carrier Management: Receive timely updates and adjust based on carrier responses.

How It Works

1. Automated Emails: The system sends load offers to carriers in sequence, starting with the lowest-cost carrier.
2. Response Time: Each carrier has 30 minutes to respond. If there is no response or a decline, the system automatically moves on to the next carrier.
3. Accept or Decline Only: Carriers can only accept or decline offers; counteroffers are unavailable in this feature version. Carriers can contact brokers outside of the system to discuss rates. 
4. Late Responses: If a late response is received but still within operational needs, the load can be awarded.

Setting Up Waterfall Tendering

1. Set Up Partner ContactsCreate Partner
   First, go to the Partners module and click Create partner.
   
   
   Rose Rocket connects directly with FMCSA to help you find your partner carriers and populate compliance data available on the FMCSA database. 
   
   Note that waterfall tendering is only available to US carriers and currently supports US lanes.
   
   
2. Add Contact Details to the Partner Profile:
   • Go to the Contacts tab and add relevant contact information. 
   • Ensure all users within the partner profile have the necessary contact details, including email addresses and phone numbers.
   • If there are multiple contacts, all will receive tender emails.
   
   

Configure Tariffs (Optional)

If your carrier partners have tariffs and your team uses the Tariffs module, you can configure carrier rates within the tariff. The waterfall tendering feature will then automatically suggest carriers based on lanes and rates. 

1. Navigate to the Rating Module:
   Go to the Rating module in your Rose Rocket account.
   
   
   
2. Set Up Tariffs:
   • Enter lane-specific pricing information for carriers.
   • Associate each tariff with a partner for easy reference.
   • For more detailed instructions on how to use Rose Rocket's rating engine, refer to this section.

Using Waterfall Tendering

1. Enter Order Information
   Input stop details, commodities, and appointment times.
   
   
2. Click "Create Manifest".
3. Open the Waterfall Tendering Widget
   You will be directed to the Manifest page, where you will see the Waterfall tender widget. 

Selecting Partners

1. Preconfigured Suggestions:
   If tariffs are established, the widget will suggest partners and rates based on the lane details in the manifest. The example below illustrates the automatically calculated carrier rate according to the tariff you have set up.
2. Manual Partner Selection
   Alternatively, manually select partners and input spot quotes by clicking "Add spot quote".
   

Tendering the Load

1. Automated Tender Emails
   • The system will automatically rank the carriers based on the lowest rate to the highest.
   • Once you click "Start waterfall tender", the system sends load details, including origin, destination, and pricing, to the first carrier.
     
2. Carrier Response
   • Carriers can accept or decline by replying to the email. The system uses AI to identify carrier's responses as accept or decline.
   • If declined or no response is received within 30 minutes, the next carrier is emailed automatically.
   • Note that carriers are unable to negotiate rates from the system and they will have to contact you directly.
     

 

Managing Responses

1. Track Responses
   Use the Tenders Board to view the status of all tenders, such as “Waiting,” "Not Tendered," “Submitted,” or “Declined”.
   
   • Alternatively, you can refer to the Manifest's Waterfall tender widget.
2. Awarding the Load
   If a carrier accepts, finalize the tender using the “Share Manifest with Partner” option.
   
3. Late Responses
   The system accommodates late responses, awarding the load if available.

Important Callouts

• Time Constraints: Tenders are cancelled automatically 4 hours before the scheduled pickup.
• Cancellation Rules: Changes to key order details including pickup date, any stop address, or assets will cancel the tender.
• US-Only Support: Currently supports US domestic shipments in USD.

Use Case Examples

• A broker automates load assignments for a high-volume lane between New York and Chicago, reducing manual outreach.

• A dispatcher utilizes Waterfall Tendering to efficiently manage last-minute shipments, ensuring timely coverage.

• A logistics coordinator leverages the feature to prioritize preferred carriers while maintaining backup options.

Best Practices

• Ensure all partner contacts have up-to-date email information to receive tender notifications.

• Regularly review and update tariffs to reflect current carrier rates and lane information.

• Monitor the Tenders Board to track responses and adjust strategies as needed.

Common Issues & Troubleshooting

Can carriers make counteroffers?
Only "yes” or “no” responses are accepted.

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What if a tender is cancelled?
Users can manually re-run the tender if needed.

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Where can I see all tender responses?
Check the Tenders Board for a history of all responses and statuses.

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