This whitepaper explains that freight procurement is critical because 80–90% of transactions are contract-based, but volatile markets and manual, Excel-driven RFQ workflows slow contracting and lead to poor outcomes for both shippers and carriers. It outlines core procurement artifacts (RFQ, RFP, RFI), then describes how spot and contract pricing are converging through strategies like mini-bids and dynamic capacity sourcing, while dynamic freight pricing emerges to reflect real-time conditions. It lists key rate drivers (supply and demand, lane trends, fuel, accessorials, weather, backhauls, seasonality, disruptions) and argues that better, granular lane data plus predictive analytics and ML-based forecasting can improve carrier selection, rate accuracy, and capacity planning. It proposes

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