RFQ Module for Shipwaves

The process of requesting new quotes for a shipment is complicated, manual and time consuming. It involves a multi-layered email process of initiating requests through email, tracking prices from each vendor and documenting all the prices in excel sheet. As a result, users find it challenging to requesting new quotes from multiple vendor and there is a need for a simple, hassle-free, and digital solution.

Understanding of the current process

Typically, an employee will initiate request for quote by emailing all vendors through single mail. When vendor replies, they will update excel sheet with the price quoted by the vendor and will negotiate through either email or phone. Finally, they will award contract to a vendor when they are satisfied by the price.

Pain Points

These are major pain points:

• Communicating via email is tedious process
• Manually track prices in excel sheet
• Can't keep track of negotiations

Insights

Based on the research and interviews, I concluded that users want to send time bound request for quotes to multiple vendors at a time and want a solution which can track the prices as well as option to negotiate price with vendors.

Solution

We came up with a RFQ module which will allow shippers to create a RFQ and receive quotes from multiple vendors at a time in a time bound manner. They can easily negotiate prices with all vendors. Vendors will be able to see their rank and compete with each other to get their quote approved. This helps shipper in reducing the price for the quote.