Volatile ocean freight markets confirm the perception that prices often change quickly. In this case, how should the quotations at the end of an ocean freight bid invitation be evaluated? At the quoted prices at the high or low end of the market? Benchmarking provides the answer.
It integrates real-time benchmark data from the XENETA database into the analysis module of TICONTRACT. This combination provides a comprehensive collection of market prices, available quotation prices and base prices at the perfect time (right before the contract negotiations).
Ocean freight markets are dominated by a volatile environment
High price deviations between shippers on the same lane at the same time are common
Intransparent markets with not always understandable massive price changes make things difficult to predict
Does it make sense to compare the result of a current RFP with existing rates which are probably 6 months or even 1 year old?
Is what I received as offers in my current bid really in line with the ocean freight market environment?
Where in the current ocean freight market are those offers allocated? Are they average or even Best-in-Class?
What has been the ocean freight market development and the market trend since the last RFP?
Integration of real-time benchmark data coming from the XENETA database into the analysis module of the TICONTRACT RFP platform. This combination delivers the perfect bundeling of all relevant market and company information at the perfect point in time: right before the start of the contract negotiations with your carriers. With this package you will be prepared for your meetings perfectly.
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Definition of bid structure
Analysis of benchmarking coverage within the RFP
Data cleansing and data preparation
Integration of live-rates at the end of bid in the analysis module of TICONTRACT