What is 'tendering process' in SAP TM - Transportation Management?

tendering process - Overview

• Component: TM

• Component Name: Transportation Management

• Description: Execution of the tendering process steps as defined in the tendering process configuration.

tendering process - Details

• 
  Key Concepts: 
  Tendering process in SAP Transportation Management (TM) is a process of selecting a carrier to transport goods from one location to another. It involves the creation of a request for quotation (RFQ) which is sent to multiple carriers. The carriers then submit their bids and the best bid is selected. The tendering process helps to ensure that the best carrier is chosen for the job and that the cost of transportation is kept to a minimum. 
  
  How to use it: 
  In SAP TM, the tendering process begins with the creation of an RFQ. This RFQ contains all the necessary information about the shipment such as origin, destination, weight, volume, etc. The RFQ is then sent to multiple carriers who can then submit their bids. The bids are evaluated based on criteria such as price, delivery time, etc. and the best bid is selected. Once the bid is accepted, the carrier is responsible for transporting the goods from one location to another. 
  
  Tips & Tricks: 
  When creating an RFQ, it is important to provide as much information as possible so that carriers can accurately assess the job and submit competitive bids. Additionally, it is important to evaluate all bids carefully and select the one that offers the best value for money. 
  
  Related Information: 
  SAP TM also provides other features such as freight cost estimation,