Worldwide Freight Services

Worldwide Freight Services

Worldwide Freight Services

For any company with frequent and varied shipping needs, one of the first business issues to be tackled is the development of an intuitive and executable worldwide freight services program. In many industries, freight services are the number one corporate expenditure. By developing a logistical strategy, attentive to size and frequency of shipments coupled with strategic vendor alliances and mode of transport, companies should be able to lower their overhead on a short, medium and long-term time horizon, whereby increasing overall profit margins.

Planning is a critical tool that should be utilized by businesses, small and large. In addition to a standard business plan, which may outline an organization's shipping protocol; companies would be wise to develop a stand-alone shipping standard operating procedure. Key items to review and document would be expected size and frequency of shipments, ability to invoice customer's for incurred freight expenditures, proposed and negotiated strategic shipping alliances and process for addressing needs that exceed expected parameters in any of these or other anticipated areas. Additionally, if possible, based on previous year incurred expenses, financial modeling or absolute budgets and tolerance ranges should be defined.

The single largest factor in calculating freight costs is the scope of shipping, along with frequency and size of goods and materials requiring transit. When assessing these areas, companies should give thought to ability to consolidate shipping needs. By condensing shipments, the ability to secure discounted rates, based on larger volumes may be a viable cost-saving option. An assessment of historical use of services will prove beneficial when addressing domestic and international shipping requirements. With increased customs and immigration requirements, merged shipments may prove beneficial in delivering goods to strategic business partners and customers in a timely fashion.

Armed with a firm grasp on corporate freight needs, engaging diversified vendors to address and attend to a company's specific needs is imperative. Companies would be wise to issue a request for proposal (RFP) to develop relationships with potential vendors. A detailed RFP should include anticipated frequency of shipments, contents of freight, expected delivery timeframes, preferred method of shipment and anything else critical to deliverables. Based on the response(s), entering into a contractual agreement, or multiple agreements for freight services would be a logical next step. Upon review of bids, larger companies should be prepared to find that developing and maintaining their own shipping department may be a cost effective air, sea, road or freight solution. Upfront costs and cost expenses may seem large, but over time long-term cost savings may come in to play.

In an economy where companies are looking to trim expenditures wherever possible, freight charges should be carefully analyzed and reviewed frequently. With an organized and detailed freight program in place coupled with detailed contracts for preferred vendors, companies should see both an immediate and long-term massive improvement in the form of decreased expenditures.

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