Goldilocks and The Five Quotes
Matt Meyers
- Yesler
- April 9, 2022
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You know the story of Goldilocks and the three bears, right? She breaks in, samples everything, complains a lot, then chooses just right.
If Goldilocks were a lumber buyer, how many quotes would she need to buy just right? Data from Yesler indicates the answer is five. Here is a diagram to illustrate:
On average, five quotes is the just right zone where you maximize market information on the high and low end. More than five quotes marginally enhances market information and can create seller fatigue (sellers quote a lot but rarely win a load).
What is the right number of quotes for your order? Many quotes in Yesler are requested from only one seller due to a long-standing relationship. Some quotes invite over a dozen sellers. Each buy is different, and in Yesler you choose and manage any strategy more efficiently.
Why is there a “too low” in the chart above? Buyers don’t buy on price alone. Lumber may be a commodity, but the product, seller and delivery timing matter to buyers! It’s still a relationship business on Yesler.
Request quotes from your suppliers in Yesler today. Invite them and they can quote using Yesler’s intuitive dashboard. They don’t even need a login. Ask Yesler, and there may be additional suppliers we can add alongside yours. See the market more clearly and buy better.
