Waterfall tendering using Rose Rocket

The Waterfall Tendering feature simplifies & automates the load tendering process to multiple carriers. Brokers can send load offers to multiple partners in sequence, saving time & optimizing carrier selection.

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.

Table of Contents

How It Works

Setting Up Waterfall Tendering: Create Partner Carriers & Configuring Tariffs

Using Waterfall Tendering

Automatic Load Tendering

Managing Carrier Responses

FAQs

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

Step 1: Set Up Partner Contacts

1. Create 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.
   
   

Step 2: 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

Step 1: Create a Manifest

1. From the Order:
   • Enter information about the Order, such as stop details, commodities and appointment times.
     
     
2. Open the Waterfall Tendering Widget

• From the Order, click Create Manifest.
  
  
• You will be directed to the Manifest page, where you will see the Waterfall tender widget. 
  

Step 2: Select 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.
     

Step 3: 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.

FAQs

1. Can carriers make counteroffers?
   • Only “yes” or “no” responses are accepted.
2. What if a tender is cancelled?
   • Users can manually re-run the tender if needed.
3. Where can I see all tender responses?
   • Check the Tenders Board for a history of all responses and statuses.