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Freight Forwarding
Freight forwarding involves the management and coordination of the international or domestic movement of goods on behalf of a shipper (the company or individual shipping the goods).
Here’s an overview of freight forwarding within the scope of 3PL:
Transportation Planning: Freight forwarders work closely with shippers to understand their specific shipping requirements. This includes determining the mode of transportation (such as air, ocean, road, or rail), selecting the most suitable carriers, and optimizing the transportation route.
Documentation and Customs Compliance: Freight forwarders handle the complex documentation associated with international shipping, such as bills of lading, customs declarations, and export/import documentation. They ensure compliance with customs regulations and assist in completing the necessary paperwork for smooth customs clearance.
Carrier Management: Freight forwarders have established relationships with a network of carriers, including shipping lines, airlines, trucking companies, and rail operators. They negotiate freight rates, book cargo space, and manage the coordination of transportation services with the chosen carriers.
Freight Consolidation and Distribution: In order to optimize costs and transportation efficiency, freight forwarders often consolidate multiple shipments from different shippers into larger loads. They manage the consolidation process, arrange for the pick-up of goods, and coordinate the distribution of consolidated shipments to their respective destinations.
Cargo Tracking and Visibility: Freight forwarders provide real-time tracking and visibility of the shipment’s progress throughout the transportation process. They keep the shipper informed about the status of the cargo and any potential delays or issues that may arise.
Risk Management and Insurance: Freight forwarders may offer insurance options to protect the cargo during transit. They help assess the insurance requirements and arrange for appropriate coverage to safeguard the shipper’s goods against loss or damage.
Value-Added Services: In addition to the core transportation services, freight forwarders may offer value-added services such as warehousing, inventory management, order fulfillment, and customs brokerage. These additional services provide end-to-end solutions to meet the comprehensive logistics needs of shippers.
By leveraging the expertise and network of a freight forwarder, shippers can benefit from efficient and streamlined transportation operations, global reach, reduced administrative burden, and enhanced visibility and control over their supply chain. Freight forwarding services within a 3PL framework allow businesses to focus on their core competencies while leaving the complexities of transportation and logistics to the experts.
Not knowing a given cost component in manufacturing is the surest way to move away from precision ROI—and toward lower profitability. Yet when it comes to inbound raw materials, many companies settle for vendor-billed freight, essentially losing control of optimal costs. In an environment where fractions of pennies can make a huge difference in profitability, leaving inbound shipping in a vendor’s hands in no longer acceptable.
What is the benefit of negotiating lower raw materials costs when vendor-billed freight enables them to make up all or part of their cost concessions?
And requiring a vendor to use your routing guide saves you virtually nothing in freight costs. Why? Because routing guides are only a starting point for freight costs, not a static price list that carriers must abide by (now you know why it’s called a routing guide). Read more about “The Truth About Routing Guides” below.
There is now a way to SAVE TIME, CUT COSTS and PRECISELY PINPOINT your RM costs efficiently and easily.
Exact is the only program of its kind that takes the power of inbound cost controls and puts them squarely in the hands of the manufacturer. Through Customodal’s online portal, buyers can set load parameters and receive quotes in seconds that are based on multiple inputs and the most current available information.
By taking control of their inbound freight, manufacturers save from thousands to hundreds of thousands each year on inbound freight, all of which goes directly to their bottom line because there is no infrastructure or setup cost involved.
It’s just doing the same thing a different way. And gaining control, saving money and reaching the end of the day without any headaches. Or at least no more headaches from freight.
Now your purchasing department knows the EXACT cost of shipping, and by taking control, has ensured the company is receiving the absolute lowest cost for incoming freight. No more routing guides. No more vendor markups.
In the age of minimizing inventory costs, it has become critical that manufacturers know in detail the progress of all incoming freight. EXACT enables quick online tracking of every incoming shipment. And if something goes wrong in transit, Customodal’s Customer Service Experts are here to help, and in many cases can make adjustments to your freight mid-stream to help fulfill your manufacturing objectives.
Call or message us to learn how EXACT can make a difference to your bottom line.
