Inspired by Inbound Logistics magazine's monthly "Good Question" article, we decided to ask our own experts to chime in on
BNSFL Questions That Matter (and our experts answer).
- January 2020 -
Resolve to understand your current network's performance at a more granular level; either by diving in more deeply on your own (or with a consultative expert) or by engaging a 3PL who can return detailed analysis and insight. Do you truly understand how much your current supply chain is costing you? Not just in the dollars paid to carriers per load, etc., but in lost time or efficiency? Are you tracking how much you're paying in detention, failed loads, and on-time performance penalties? Are you able to track these and other KPIs? Would you like some help getting started? BNSFL 2020: Don't wait for hindsight to see clearly. Better service, more savings, and less transit time. All these main objectives can be justified with a high quality service company and are what I offer my customers. Plastic waste is going to be heavily regulated in the coming years. How are companies preparing to deal with end of life for their plastic? 1. Make sure you have a qualified 3PL as a partner. 2. Be prepared for higher rates due to capacity constraints brought on by higher insurance premiums and higher prices for diesel fuel. |
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Partner with a provider that will add value to your network through service, technology, and a shared vision. Work closely with providers that will help streamline your supply chain regardless of market conditions. Build relationships around mutual trust and agreed upon metrics. Utilize technology to monitor progress and have regular meetings to track results and discuss new opportunities. Continue to capitalize on increased capacity and low rates while strategically planning for the late 2020 surge in pricing by building strategic relationships with carriers. Not always choosing the cheapest carrier, but going with the most reliable. You get what you pay for. If you’re an importer into or exporter out of the U.S., you should be aware of the impact that new regulations are going to have on shipping capacity, sailing schedules, drayage costs, supplier lead times, inventory levels, production schedules, ocean freight pricing, customer delivery commitments, etc. Being a customer of choice. Technology which promotes speed of transaction, visibility, and mode diversity. Risk management and compliance. Alternative sourcing for globally sourced goods. |