Schneider Logistics Inc. has announced the release of its collaborative transportation procurement product, SUMIT CVA, aimed at providing shippers with a strategic approach to securing low-cost, long-term freight contracts.

According to the company, the combined value auction (CVA) process gives shippers the ability to develop strategic transportation solutions that simultaneously lower costs and improve service levels by leveraging their carriers' existing capacity and networks.
Through a multi-round auction format, SUMIT CVA enables pre-qualified carriers to view a shipper's transportation requirements and identify and bid on packages of lanes that best optimize their assets. Carriers are able to enter their rates, create packages and conditional bids, review specific service requirements of the freight, and analyze bid results in a Microsoft Excel-based bid workbook.
By allowing carriers to bid on lanes individually or in packages, SUMIT CVA enables carriers to match a shipper's freight to their capacity and better utilize their assets. Another important element of the SUMIT CVA process is conditional bidding, which allows carriers to define bid acceptance conditions between lane packages to provide additional flexibility and protect the carrier from over-committing scarce assets.