Smart tendering is the heart of TNX. The software uses a catalog of tendering strategies during daily procurement. Each strategy covers the full tendering process, from first offer through to the last moment when an offer can still be made, and includes how to react to rejections or bids for higher price by a carrier.
Strategies combine machine learning and expert input. In real time the platform selects one to use for each load. The goal is to discover spot capacity faster and more cost effectively. So the strategies are judged primarily on their likelihood to save money, achieve a match, and the speed of matching.
There is a whole AI pipeline that powers smart tendering. It includes bundling of loads into more attractive groups before procurement, market price estimations, and the tendering strategies to bring offers to your carriers. Learn about the platform's AI pipeline here.