In light of COVID-19, businesses around the world are implementing plans to safeguard their customers and employees to keep them safe which is a must. But with each passing day, we are realizing the scope of the economic ripple effect also. Industries in the United States and around the world have been impacted, including freight shipping. Small businesses who heavily rely on freight shipping to move their products are facing struggles to keep their products moving. Hope is not lost, and we will focus on providing you as much information as we can during these unprecedented times. When it comes to freight shipping and the coronavirus, here’s what you need to know.
Must Keep Moving Freight
Freight shipping is an industry that thrives off the free movement of people and goods. When unexpected curve balls happen like the coronavirus and movement is restricted, events get cancelled and day to day operating procedures are limited. Naturally this effects many key components, including hindering the supply chain. So what do you do?
If your business is shipping freight, it’s important to make use of resources that are available in strained economic environments and keep your supply chain flowing. The best thing you can do is to reap the benefits of partnering with a 3PL. Third-party logistics companies are designed to assist shippers with finding the solutions they need in any economic conditions. 3PLs use a transportation management system (TMS) to match your freight shipment with options such as lanes, carriers, and rates that are best suited to fulfill that shipment.
In addition, a 3PL can assist you in your other freight needs, such as:
- Flexible booking options
- Warehousing needs
- Freight consolidation options
- Capacity sourcing
Partnering with a 3PL relieves small business shippers of the burden of tackling the unknowns in freight shipping all on their own and spending large amounts of time making calls to carriers directly and trying to sift through their options. Working with a 3PL provides one centralized place that quickly answers all your shipping questions while securing even more affordable rates. The question of “how do I keep my freight moving during these strange times?” is answered by partnering with a 3PL.
Control Your Costs
Even when business is good and there are no global threats, being able to control your freight shipping rates is the most important aspect of supply chain management. There are simple ways to efficiently ship while saving money and keeping your business running smoothly.
- Consolidate your shipments – If you ship to the same location(s) often, you can consolidate packages, so you ship more product a fewer amount of times. For example, instead of weekly shipments, you could ship bi-monthly. This helps you control and manage your freight spend easier and deal with less headaches should unexpected delays happen while your shipments are in transit.
- Warehousing – Utilizing warehouse storing can help to reducing on-hand inventory, so you can better utilize your business space. If your business is seeing a rampant increase in the demand for your product, warehousing can offer some relief to better organize your supply chain.
- Understand the financial side – Having your financial books in order is always important. But understanding how things work in the freight shipping industry can help you strategize an assist with budget management. Understanding how freight billing works and what factors affect LTL freight rates gives you insight on how to manage your expectations in various market conditions.
3PLs, as mentioned before, can help you find solutions for your freight cargo and also centralize everything you need in terms of freight billing and necessary documentation. Having an extra set of eyes and ears on your freight spend only adds to relief efforts and brings more peace of mind. This allows you to focus more on your business.
FreightCenter is Here to Help
You need a freight shipping partner that can help you through any situation. No matter what uncertain economic times we as an industry may face, FreightCenter has the resources and expertise to empower your small business and keep things flowing.
Secure the most affordable rates, find solutions, and manage all your warehousing and freight billing needs all in one place with FreightCenter.