How a Customs Broker Can Positively Impact Your Supply Chain
Market research estimates the customs brokerage market size in the U.S. to be more than $4 billion as of 2022. This industry is set to grow at a compound annual growth rate of 3.5% between 2022 and 2027.
But what is a customs broker? Well, a customs broker refers to a professional that offers expertise in arranging your customs clearance process during a freight shipment.
A licensed customs broker will ensure that your shipment satisfies all customs regulations. This customs broker can benefit your supply chain in many ways.
This article explains how a customs broker can positively impact your supply chain.
Ensuring Compliance
Many countries have complicated customs rules and regulations that involve many administrative procedures. A customs broker can help you understand any recent changes in the processes.
Besides, a licensed customs broker will be in a better position to advise you on the documents you must have. The broker ensures the correct classification of goods in your documentation process.
Further, customs brokers will help prepare and submit your paperwork to the appropriate government agencies in good time. This allows firms to avoid noncompliance problems and reduce the hassle and costs of having in-house logistics staff.
Saving You Penalties and Fines
The parameters used to calculate customs fees and duties differ from one country to another. So, if you fail to abide by these customs regulations, your company risks getting penalized.
In most cases, these penalties are in the form of monetary fines. In other scenarios, your company may face extensive delays, which may end up affecting your supply chain.
So, you must be knowledgeable about these customs rules and exemptions from different countries. Licensed customs brokers can help you quickly identify and calculate your customs fees and duties.
Help With Real-Time Tracking
Companies that import goods need shipment visibility to enable advanced planning. Advanced planning helps to facilitate your customs clearance process.
Luckily, a customs broker has access to modern tools and technologies. So, they can provide you with all-time visibility across different time zones.
Still, you must let your customs broker assume the responsibility of keeping track of global freight shipments on behalf of your company.
Customs brokers constantly communicate with other customs officials. So, in case of any problems with your shipment, your customs broker will step in to find solutions for your company.
Reduced Freight Shipping Costs
Having a licensed customs broker increases the chances of your company enjoying lower shipping costs. Your customs broker can help you choose the most affordable shipping option depending on your firm’s requirements.
These requirements can include costs and lead time. A licensed broker can also help you cut extra costs on your imported cargo through late charges, duties, and tax exemptions.
Increased Productivity
A customs broker ensures your company’s import and export processes are well taken care of. This reduces the extra burden on employees and allows them to focus on the main business tasks.
Ultimately, you start to witness improved productivity within your company.
What Is a Customs Broker
Congratulations! You now understand what a customs broker is and how your supply chain can benefit from a licensed customs broker.
Do your due diligence before hiring a customs broker. Seek referrals from the people you know. You can also read online reviews from previous clients about your prospective customs broker.
Contact us for your custom brokerage services.
Atlanta Customs Brokers is one of the oldest and most trusted customs brokerage and shipping firms in Atlanta. Established in 1985, our company has been a fixture in and around the Atlanta airport and Savannah port for more than 31 years. We enjoy working with our international partners and enjoy what we do. If you are a first-time importer or exporter or a large corporation, we can handle your needs.