Procurement platform GoodShip unveiled Wednesday its most recent product update, introducing the innovative proprietary scenario builder.
This feature empowers GoodShip’s shipper clientele to meticulously craft personalized constraints, facilitating a comprehensive assessment of prospective procurement outcomes. By aligning these insights with their supply chain objectives, clients can make optimal decisions, ensuring a strategic and informed approach to procurement.
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In an interview with FreightWaves, co-founder and CEO Ryan Soskin explained that as GoodShip continued to land larger shipper customers, the company found more complex decisions came with their procurement decisions.
“Historically, shippers are going through a bunch of spreadsheets based on different procurement scenarios and it has become difficult to optimize those decisions,” Soskin said.
“Some may say, ‘We want at least 40% of our volume going to assets. … But we also don’t want to give a carrier more than 5% of our whole volume,’ for example. These are different real-world constraints that a shipper wants to apply to their events. We built a very robust scenario builder where shippers can utilize a clean user interface and apply these constraints. In the end, our complex mathematical models will showcase the lowest possible cost outcome with those parameters.”
Various carrier conditions shippers can utilize include a minimum asset amount, excluding and including carriers, performance minimums, volume caps, total spend, and many more.
Shippers can create these parameters, save them as “scenarios” and easily compare pricing within seconds to past freight spend based on those parameters.
Soskin also expressed the importance of this update for carriers, giving them even more visibility into how a shipper is managing a bidding process that they are a part of.
“We’ve gotten great feedback from carriers and their ability to see what they are signing up for and they are now putting forward pricing that they can actually honor and service at high levels,” he said.
Shippers currently leveraging this tool are experiencing success.
“GoodShip gives us all the tools and information we need to make quick, informed decisions when awarding freight and managing our network. … Whether it’s running a bid, initiating a renegotiation, or automating our carrier scorecards, GoodShip has eliminated many of the old, manual processes and software we used to rely on,” said Kevin Norris, senior logistics manager at Central Garden and Pet Company.
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