Request for Quotation (RFQ)

A Request for Quotation (RFQ) in freight forwarding is a formal inquiry from a shipper or their procurement team asking one or more forwarders to provide pricing for moving goods on a specific lane. An RFQ typically includes origin and destination details, commodity type and HS classification, cargo weight and dimensions, packaging type, required transit time, preferred transport mode (sea, air, or multimodal), and any special handling requirements. Forwarders respond with detailed quotes covering base freight rates, surcharges, customs fees, and total landed cost — often competing against multiple other forwarders for the same business.

For freight forwarders, the RFQ response process is a critical revenue driver but also a major operational bottleneck. Each incoming RFQ requires a pricing analyst to research current carrier rates, calculate surcharges, check space availability, factor in margin targets, and compile a professional quote document — a process that can take 30 minutes to several hours per quote depending on complexity. During peak seasons or tender periods, forwarders may receive hundreds of RFQs simultaneously, and the speed and accuracy of their response directly impacts win rates. Slow responses lose business. Inaccurate quotes lose money.

FreightMynd's autonomous quote management system transforms the RFQ response process. AI parses incoming RFQ emails and documents, extracts shipment requirements, matches them against your contracted carrier rates and historical pricing data, calculates optimal quotes including all applicable surcharges, and generates professional quote documents — all in minutes rather than hours. The system learns from your win/loss history to optimize pricing strategy over time, and routes complex or high-value RFQs to human specialists while handling routine quotes autonomously. Forwarders using AI-powered quoting see faster response times, higher win rates, and more consistent pricing across their teams.