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Five Money-Saving Tips for Importers

excelsior on January 30, 2021

Money-Saving Tips for Importers

Saving money in importation is crucial for any business that aims to provide high-quality products to its loyal customers. However, successful importing requires effective communication, and getting good deals with international traders is not an easy task.

Some economic factors directly affect the practice of buying products overseas. One example is when a country imposes certain import duties on the goods coming from another country, the importer has to shell out a lot of money to get the goods at low duty rates. This further strengthens the need to learn ways to save money when importing goods.

If you own a business and is currently having some trouble with your expenses in the importation process, here are some tips that can help you minimize the costs:

Tip #1: Talk with Local Exporters

A straightforward way of saving money in importing is through getting in touch with local exporters. Most of these local exporters may have the details you need about the duties on imported goods and ways to save money in importation (from your country’s perspective). You can contact these local exporters directly and ask for advice on saving money on importation. The knowledge, especially in how they give rates to their products, will provide you with a rough idea of how you can deal with exporters from other countries.

Tip #2: Prefer Partnering with Suppliers for Neighboring Countries

As much as possible, try to negotiate with suppliers that are close to your home country. For example, if you are based in the Philippines, it would be better to partner with businesses situated in the East and Southeast Asian regions. Nearby countries can lower transportation costs and make it easier for your chosen freight forwarder to offer you better deals in carrying services.

Tip #3: Make a Checklist of Your Expenses

For those who are new in this practice, here are some of the expenses that you will likely incur to sustain your importation needs:

  • Trucking
  • Ocean Freight
  • Duty/Tax
  • Storage/Warehouse
  • Brokerage
  • Documentation
  • Shipping Charges

Tip #4: Buy in Large Quantities

Importing a large number of products on your first import can be a gamble as you don’t have any idea if it can sell well on your local market. Once you think that importation can be a promising venture for your business, it would be better if you will purchase in bulk. Large quantities are usually easier to negotiated deals with and will likely reduce the price per unit as you order more.

Tip #5: Track Your Imports

Knowing the condition of your imports, as well as being aware of its route, can provide you with details on how to speed up your other imports in the future. Freight forwarders are professionally trained to ensure that your imports will arrive on time and increase your chances of more saving money in the process.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

What You Need to Know about the Container Imbalance and COVID19 – Infographic

excelsior on December 15, 2020

Container imbalance is one of the most serious issues that can happen in the logistics industry. Such a phenomenon can lead to a series of outcomes that negatively affect the global economy. Lack of available containers for shipping can disrupt the supply chain of many businesses, especially those that cater to products with a low shelf life to their customers overseas.

Unfortunately, due to the outbreak of the COVID-19 virus, container imbalance is currently rampant in some parts of the world. It all started in March 2020, when lockdowns were strictly implemented in many countries, including the Philippines. The government prohibited public gatherings and other outdoor activities for a long time, which severely brought the entire nation’s economy to a halt.

During these periods of lockdowns, the operations in ports became slower. Not all employees at the port are allowed to work outside, limiting the movement of the cargoes. Moreover, some factories temporarily closed their facilities, leaving massive numbers of containers stuck at the port. These problems prompted the shipping lines to avoid further loss of income by reducing the vessels they use in transportation.

China, the world’s leading exporter of goods since 2009, managed to control the infection rate of the COVID-19 earlier than most countries. Starting in the month of July, China is slowly regaining its economic activities, reopening its factories that encouraged many businesses to rely on China-made products.

The shipping lines with a limited number of vessels weren’t able to transport all the products from China, let alone carry empty containers. This sudden surge in the volume of exports created an imbalance in the current capabilities of shipping carriers in transporting products to countries that are still recuperating from the pandemic.

Another reason for container imbalance lies in decreased manpower. The containers used today for shipping purposes normally undergo a lengthy process before it can be emptied and returned to the port. Shipping containers are often loaded on a truck and sent to faraway places to deliver their contents. The loss of port employees also means that there will be a shortage of drivers, which will take the containers at least a week to be returned.

With China as the center of the world’s exports during the pandemic, the demands coming from other countries will gradually increase during the holidays. This means that the container imbalance might linger until next year or at least a few months after the pandemic finally subside.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Sources:

5 Tips before Selecting Your Shipping Carrier

excelsior on November 16, 2020

Shipping Carrier

Managing a business where you have to deal with international clients is not an easy task, especially if you sell products that are in need of some logistical aid. Ensuring that your products will successfully arrive from point A to point B is crucial to maintain a stable supply chain, high customer satisfaction, which ultimately leads to more profit despite the ongoing pandemic.

Choosing a carrier is one of the most crucial factors when it comes to shipping your products. It can be a challenging decision to make since your daily operations will have to adjust to any situation that involves the shipping carrier.

For a start, you have to pay attention to your company’s purpose and capacity to avail the service of a shipping carrier. But of course, there are other things that you can do so that it will be easier for you to find the most appropriate shipping carrier for your business as fast as possible.

Here are five things you should remember before selecting your shipping carrier:

FACTORS TO CONSIDER:

The nature of your business

You have to grasp the specifics of which particular shipping services you need. Find potential carriers that offer the services you’re looking for and see if all of them can handle your shipping needs. If there is a necessity for your products to be transported via different carriers, it could cost you more money in the long run. Try to go for a carrier that offers multiple shipping services.

The experience of the Shipping Carrier

Take some time to research your potential shipping carriers. Find out more about how long they have been in business or whether they have adequate resources to sustain their operations, such as a fleet of trucks and trailers. Owning a warehouse that is stable and reliable is another plus point.

Pricing

The outcome of most business transactions, especially when negotiating with shipping carriers, often relies on the agreed price of both parties. Have a word with any potential carrier and ask if they can provide you competitive rates that are on par with the quality of their service/s.

Discussing the Safety of their Services

Safety must also be a primary topic that you can bring up with any of your carrier prospects. It is essential not to overlook the low price only to discover that your chosen carrier has a high accident rate and rule-breaking records. It would be a wise decision to deal with a carrier that gives you a slightly higher price in exchange for the assurance that they can ensure the timely and safe arrival of your goods. If such a carrier has an excellent safety rating among its former clients, then you are good to go.

The Benefits of Partnering with a Freight Forwarder

Freight forwarders in the Philippines can be an individual or an agency that can handle some of the most time-consuming logistics tasks for your business. One of these tasks is negotiating with the right shipping carrier that can benefit your business. They can also take care of all types of documentation, clear other shipping related requirements, and track your goods as they arrive at their destination.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Sources:

https://blog.bisontransport.com/8-tips-for-choosing-the-right-carrier

https://www.energytribune.com/the-advantages-of-hiring-a-freight-forwarder/

Things to Consider Before Engaging in International Shipping-Infographic

excelsior on October 30, 2020

So, you finally started your own business. You managed to find suppliers for your products, gain some brand awareness to attract customers, and you are sure that you are earning a considerable return on investment or ROI. You finally considered to further expand your business by reaching potential markets from other places. This is where you realized that engaging in international shipping is indeed possible.

If ever you come across such thoughts before, here are some of the things to be aware of before taking a big step into the world of international shipping:

Identifying the Countries to Ship Your Products

Finding international locations where you can sell your products can be a crucial and tricky task at the same time. The following tips will help you narrow down which countries should you ship your products to:

  • Look for countries with customer demographics that are similar to your local market.
  • Make sure that your target countries speak a language that you familiar with, and since English iswidelyconsidered as the universal language, going for countries with speakers that are conversant with the English language can be an advantage.
  • Figure whether the countries on your list have an existing demand for what products you can offer.

Familiarize Yourself with the Rules of Regulations

Shipping rules and regulations may vary from country to country, so make sure to do research.  Try to figure out the list of items that are either prohibited or restricted to a specific country where you think you can gain some customers. Knowing some information about the location of your target markets and their existing laws will increase your chances of getting better deals and a seamless shipping process.

What Products Should You Try for Shipping?

The most ideal products to be shipped in cross-country trade are:

  • Smaller and lighter items for lowering downs shipping costs
  • Popular products that can be sold on an international scale
  • Products that can be shipped for longer periods of time.
  • Products that can be easier to package.

Expect Additional Duties and Taxes

International shipping might be a tempting venture for your business, but it will require you to be ready to take new duties and some extra expenses if you wanted to be successful. Learn more about how to deal with customs authorities and taxes-related of some countries that might affect the cost of shipping your products. Another essential thing to consider is introducing new payment processes for making business transactions with international clients more convenient.

Hire a Freight Forwarding Agency

Freight forwarders can offer their services to business owners like you who are trying to enter international trade. These people are skilled in handling logistic networks so that you can have a hassle-free and cheaper shipping process. Partnering with a freight forwarder is basically the best option as they can bear most of the tasks associated with international shipping. They always ensure that your products will go from point A to point B while you focus on other important aspects of your business.

 

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

 

Sources:

https://www.storeautomator.com/prepare-your-business-for-international-shipping/

https://shippingeasy.com/resources/preparing-international-shipping-shipping-platform/

What You Need to Know When Handling Packages During the Pandemic

excelsior on September 30, 2020

The role of transportation in business has become even more evident during the spread of the pandemic. Since most people are afraid of getting infected by the COVID-19 virus, they tend to spend a lot of time indoors. While several countries like the Philippines are currently experiencing all the negative repercussions of such a crisis, there is still a high demand for different sorts of products, especially those that can be purchased online.

Making business transactions using your device and waiting for your products to arrive at your doorstep is a better idea than rushing to nearby grocery stores and malls. Surely enough, buying stuff on the internet is the safer option than exposing yourself to large crowds. However, it doesn’t eliminate the risk of you getting the virus – the packages you regularly receive have been moved and touched by several people. Now, the question remains unanswered among many consumers: what are the precautionary measures that must be applied when handling packages that they brought online?

COVID-19 from Packages

According to information from the Center for Disease and Control Prevention (CDC), the type of novel coronavirus that leads to COVID-19 can survive on surfaces of any form of materials for days. Based on an article published in Wirecutter, a study has been conducted to test the lifespan of the virus, suggesting that it can survive on cardboard for up to 24 hours.

CDC also stated that the virus has a low risk of infecting more people because packages normally undergo a long shipping process, which can take days or even weeks. The virus that’s been potentially infesting the package might have already died before it can even be brought to anyone’s home.

Handling Packages during the Pandemic

Experts in the field of virology already stressed the main reasons for how COVID-19 can be transmitted from one person to another – through respiratory droplets. There is still the possibility of contracting the virus by engaging physical contact with an infected surface, but there is little to no evidence to support this claim.

Given all the collective knowledge that we have on the virus’s behavior, CDC continues to recommend the public that the best way of preventing the spread of the disease is by washing your hands regularly and observing physical distancing with other people. There’s no harm in spraying disinfectants on your packages, but always ensure your hands are sanitized after touching the products. You can also be more cautious by taking the items you need and disposing of the parcel right away.

Keep in mind the other things you come in contact with upon touching the package, such as your doorknob, table drawers, etc. You have to consider sanitizing them as well to minimize your risks of infection further.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

 

Sources:

The Future of Supply Chain Management

excelsior on September 15, 2020

Worldwide Freight Logistics

According to investopedia.com, supply chain management refers to the practice of organizing the flow of goods and services which also involves the processes of transforming raw materials into final products. Many businesses today, especially those who wanted to streamline their profits, focus a lot on supply chain management every time they set their eyes on a new potential target market.

Supply chain management can also be helpful in gaining a competitive advantage when it comes to maximizing customer value. Despite the lack of customers and other competitors due to the pandemic, it’s also essential for enterprises to elevate their supply management strategies through the use of modern technology.

This article will provide a sneak peek on some of the popular tools that can dominate the supply chain management methods and techniques in the near future:

  1. Automation

In the past decades, keeping the stability of the supply chain had been made possible with the help of manual collection, analysis, and tracking of specific data, as well as inventory and invoices. But with the continuous integration of automation in the world of commerce, it’s most likely that every menial task that was once crucial for supply chain management will be replaced with more efficient automated systems that will make the job easier. Examples include radio-frequency identification (RFID) and transport management system (TMS).

  1. Security Systems

Privacy protection is becoming more of a big deal for businesses that rely on digitalization. Software developers are on the verge of creating new platforms and tools for tracking and managing the route of cargo without compromising other important aspects, such as the accuracy and speed of product transportation.

  1. Unmanned Aerial Vehicles or UAVs

Formerly known as a popular idea for science-fiction films and literature, unmanned aerial vehicles are now gaining more recognition as one of the future technologies that will greatly benefit many businesses. At the moment, UAVs are used to aid logisticians in managing trailer yards and warehouses, which can provide a more detailed view of its contents from above. UAVs are expected to be major mechanisms in future supply chain management solutions, especially in surveying the condition of warehouses, as well as keeping eyes on remote areas.

  1. Artificial Intelligence or AI

The rise of AI might lead to reducing the need for manual processes in the field of supply chain management. Artificial Intelligence can significantly help in providing accurate analysis of data that can lead to businesses capable of identifying flaws in their operations and coming up with a highly efficient solution in addressing most issues.

  1. Advanced Analytics

Highly correlated with the use of artificial intelligence, advanced analytics also require The Internet of Things (IoT) in streamlining supply chain management. This will make a vast amount of data produced by daily business operations more organized and structured. From customer insights to the network of carriers, businesses can have access to information that can guide them to make better decisions and become more responsive to the challenges that they regularly face.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

 

Sources:

https://www.universalcargo.com/5-ways-technology-will-simplify-supply-chain-management/

https://www.investopedia.com/terms/s/scm.asp

5 Ways of Freight Forwarders Lead Businesses to Success-Infographic

excelsior on September 15, 2020

Time is a precious commodity in business. Managing an import/export business requires you to face deadlines regularly and follow tight schedules in order to ensure product quality and customer satisfaction. However, some aspects can hinder your daily operations if you are not prepared, such as loads of documents to be cleared and dealing with customs authorities when shipping your products. Facing problems in submitting your shipping requirements can result in unnecessary delays, wasting your valuable time.

Many businesses that we’re able to expand their target markets have come up with ways to save time. One of these methods can be achieved by hiring a freight forwarder.

Having a skilled and reliable freight forwarder makes things easier by taking over all of the tasks involving the safe and secure process of transporting your goods from point A to point B. According to Logistics Trends and Insights, 44% of businesses who seek the services of freight forwarders believed that there is a value in utilizing the knowledge of their providers.

How Freight Forwarders Help Small and Large Enterprises

Freight forwarders can be a crucial partner when you are searching or catering to a market on a global scale. Specifically, these agencies are able to lead your business to success through the following ways:

  1. Provides a Responsive Inventory Management

Inventory management is one of the time-consuming tasks that freight forwarders can accomplish. From offering storage, secure parking, and distribution of goods, the freight forwarder is a third party that you can rely on when it comes to keeping the safety of your products.

  1. Ensure Timely Arrival of Goods

Transporting your products can be troublesome at times, especially in the occurrence of unforeseen scenarios such as port congestions. While these obstacles are common, businesses that are backed up by freight forwarders have a higher chance of getting their goods before the specified deadline.

  1. Fast track Logistics Operations

Freight forwarders are more than capable of looking after your goods. With their vast knowledge, they also have access to a wide network of logistics professionals that can help you find the optimal route for your products. This can significantly reduce the time spent on transit, as well as minimize your expenses in transportation.

  1. Stress-Free Shipment Tracking

Some businesses have a set of products that often requires careful handling and other unique conditions that must be met upon shipping. Freight forwarders can be hired to ensure that these conditions will be met by tracking the products throughout its voyage.

  1. Fast and Effective Response to the Most Common Logistics Problems

Freight forwarders are also equipped with enough logistical experience that enables them to know the best decisions to make in times of port shutdowns, natural calamities, cargo rerouting, and other issues that can compromise or disrupt your daily operations.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

 

Sources:

https://www.universalcargo.com/5-reasons-why-freight-forwarders-are-crucial-for-business-success/

https://brandongaille.com/28-freight-forwarding-industry-statistics-and-trends/

 

Minimizing the Effects of Supply Chain Disruption during the Pandemic-Infographic

excelsior on August 31, 2020

Due to the worldwide spread of COVID-19, many surviving enterprises started to introduce new methods and techniques when it comes to keeping their operations intact. This is pretty much evident, especially in the aspect of supply chain management.

Sudden disruptions in the supply chain can occasionally strike during natural disasters and other public health emergencies. However, in extreme cases such as the pandemic, the severe effects of supply chain disruptions are more noticeable since it usually takes a lot of time to develop a vaccine and eradicate the virus. Even if a company is fortunate enough to resume its operations, there’s a high chance that its suppliers and other business partners won’t be able to keep, making it difficult to make any successful deals.

Do you want to protect your business against supply chain disruptions? Here are some of the best ways of minimizing its negative impact:

 

Communicate with Your Suppliers

Your suppliers are essential in maintaining the stability of your supply chain. The challenge that you have to face with your suppliers is that they are separate entities with different contingency plans that they implement in response to the pandemic. You should have an idea of how your suppliers operate and maintain their products so that you can make the necessary adjustments and keep them coordinated to your needs.

Go for Bulk Containers

When delivering products to your clients, you can reduce the risk of virus infection by limiting the number of product touches and points of contact during the shipping process. Letting your products exposed to possible cross-contamination can hurt the reputation and reliability of your company, so simplifying your shipping processes is like a precautionary measure against the ongoing pandemic. For instance, you can have a forklift carry used bulk containers when transporting goods to prevent your workers from touching a number of smaller containers.

Prepare Supply Chain Protocols

Aside from being a global health concern, pandemics can also hinder international trade, affecting millions of businesses worldwide. The facility of your business must be able to implement emergency supply chain protocols at any moment. These protocols may include crucial decisions that are planned carefully in order to immediately develop contingency plans and adjustments that can help your business survive.

Keep Your Workers Safe

The success of a company may depend on its ability to take care of its workers in times of crisis. COVID-19 is a virus capable of infecting a large group of people in public places. If you allow your workers to work during the pandemic, you have to equip them with the necessary gear so that they can work while preventing any risks of infection. You can have them wear face masks, face shields, and other protective clothing if needed. Regular sanitation of your company’s workplace is also a must, as well as promoting the practice of proper hygiene.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Sources:

https://www.universalcargo.com/4-lessons-for-mitigating-supply-chain-disruption-during-a-pandemic/

https://www.ghsupplychain.org/keeping-supply-chain-workers-safe-during-pandemic

Getting the Best Rates from Your Freight Forwarder

excelsior on August 15, 2020

Many businesses today, such as those that specialize in importing and exporting goods, seek the help of a skilled freight forwarder in order to ensure a seamless and hassle-free transportation process. The reason behind the popularity of freight forwarding services lies in the fact that most products, especially the imported ones, are prone to damages and late arrivals. On top of that, transporting goods can be a time-consuming process, with a list of requirements to be submitted to the customs authorities for legal purposes. All of these issues can be solved by hiring a freight forwarder who can take over the duties of complying specific customs requirements, as well as tracking the condition of the goods in real-time.

If you are a business owner looking for a freight forwarding service, the first thing you must consider is your preferred budget. Costs for freight forwarding services may vary depending on the company, and surely enough, the best services often demand a higher price. However, there are some tricks of how you can increase the odds of getting the best rates while negotiating with your chosen freight forwarding agency:

Always Plan Your Shipments

When it comes to booking shipments, freight forwarders are usually fine in accomplishing some last-minute requests, though it might indicate that they have to use their connections to keep the cargo moving, which may require a higher fee. Planning your shipments can help you to notify your freight forwarding agency ahead of time, allowing them to complete all of the requirements without any pressure, potentially minimizing your expenses in the long run.

Learn How to Consolidate Shipments

Consolidating your shipment comes with many benefits, and one of them is affordability. Try to do some research about the difference between FCL (Full Container Load) and LCL (Less Container Load). Some businesses that transport goods in lower quantities often choose LCL because it is way cheaper than FCL.

You can read more about the pros and cons of LCL here.

Consider Your Shipments’ Transit Time

Transit time is an important factor that directly affects a freight forwarding service. For instance, if you want your goods to be transported at the earliest time possible, you might need to book an air shipment, which will cost you a lot. Other intermodal methods, such as ocean carriers, can offer a lower price in exchange for a longer transit time. Let your freight forwarding agency know about your current projects and plans so that they can provide you with expert advice regarding your available options in terms of carriers and see what suits your budget.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Sources:

https://www.interlogusa.com/answers/blog/get-best-rates-freight-forwarder/

https://www.kingbrostransport.com/benefits-of-hiringfreight-forwarder

/pros-cons-less-container-load-lcl/

Importance of Bill of Lading-Infographic

excelsior on July 31, 2020

The expansion of international trade for as early as the medieval times led to the development of a system to help merchants keep track of the conditions of goods, as well as to validate its time and location of loading. Over the course of history, this system of validation in the form of receipt has played a major role in the modern world of commerce and is now widely known as a bill of lading or BOL.

 

What is Bill of Lading?

Bill – refers to a written or printed statement indicating the cost of products or services delivered or to be delivered.

Lading – the action or process of putting cargo on a ship or vessel.

Understanding these two terms provide an overview of the actual definition of a bill of lading:

A document issued by a carrier that serves as a receipt for the cargo being shipped. It contains vital information about the goods, such as the type, quantity, and destination. In international trade, a bill of lading can be considered as a legal transportation contract acknowledging the agreement between the carrier and the shipper on movement and delivery of goods.

The Purpose of Bill of Lading

  • The bill of lading is an essential document that is used to certify that a contract has been made tocarry out a transportation service to a specific number of goods. Losing this receipt can mean a lot of trouble, especially for many businesses, as it can hinder the arrival of the products to its receiver.
    • The document also serves as a proof to confirm that the goods match the description listed on the paperwork, indicating its original condition before the transportation process.
    • The bill of lading can be used to identify the person who paid for the freight charges and customs fees, as well as the one responsible or liable for transferring the goods from the sender to the receiver.

    Common Details Listed on a Bill of Lading

    • Piece count (the total number of boxes, skids, or cartons to be delivered).
    • Description of the goods.
    • Shipper’s and consignee’s names together with addresses.
    • The date of the shipment.
    • The exact weight of the shipment.
    • Any special requirements for transportation and delivery.
    • Any instructions given by the shipper to guarantee safe and prompt delivery.
    • Account numbers for order tracking.

    Key Takeaways

    Transporting a large number of goods, especially for business purposes requires a bill of lading with accurate information to ensure a seamless process and keeping the ideal condition of the goods at the same time. For those who wanted to experience an organized issuance of bill of lading, it is recommended to seek the help of a Non-Vessel Operating Common Carrier (NVOCC).

    Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

     

    Sources:

Excelsior Worldwide Logistics Corp.