System and method of selecting freight forwarding companies
View Patent ↗A system and method for selecting freight forwarding companies are provided wherein bids for shipping lanes and the like are received well in advance of a freight move. Bids are submitted on shipping lanes and other move associated transactions by pre-approved freight forwarding companies. This information is stored in a database. Selection of the freight forwarding company or companies occurs in connection with evaluating the bid information submitted and historical data stored on the database.
1. A method of identifying a bid of a freight forwarding company comprising:
receiving a plurality of bids, each bid being associated with a traffic lane, a potential requirement for a move, a price rate associated with the potential requirement for a move, and a freight forwarding company, at least two of said plurality of bids being associated with different freight forwarding companies,
receiving, after receiving the plurality of bids, a move request associated with a traffic lane, a moving requirement and a quantity value associated with the moving requirement,
identifying a plurality of bids by comparing the traffic lane and the potential requirement of the received bids with the traffic lane and the moving requirement of the move request, and
calculating a cost for each of the identified bids dependant on the price rate and quantity value.
2. A method of identifying a bid received from a freight forwarding company as recited in claim 1 wherein said plurality of freight forwarding companies meet approval criteria prior to submitting bid information.
3. A method of identifying a bid received from a freight forwarding company as recited in claim 1 wherein said freight forwarding companies submit bids pursuant to a contract for providing services.
4. A method of identifying a bid received from a freight forwarding company as recited in claim 1 wherein said bid is subject to being invalidated after a predetermined period of time, said period of time being set by an entity other than said freight forwarding company.
5. A method of identifying a bid received from a freight forwarding company as recited in claim 1 wherein said bid is selected using criteria which includes the calculated cost and the past performance of the freight forwarding company associated with the bid, the past performance being stored in a computer.
6. The method of claim 1 further comprising selecting one of the bids from among the plurality of identified bids based on the calculated costs of the identified bids.