When it comes to running a business, monitoring costs is a critical part of making sure your business remains financially healthy. For companies that use import and export shipping services, these costs can be an area where you can create savings. It involves looking at the steps of your shipping process and addressing issues within the process that could be negatively impacting your expenses.
Here are 5 tips to reduce your shipping costs and create savings for your business.
Work With a Qualified Shipping Partner
Too many businesses try to handle their export and import paperwork themselves, thinking that they are saving on the cost of working with a shipping partner. However, doing the work yourself opens your business up to costly mistakes. These mistakes include a lack of visibility in your chain of custody, a lack of descriptions, or even incomplete paperwork. Lost time or delays can also impact your inventory, especially if it is perishable goods.
Import from Countries Close to Yours
Depending on where your business is located, you might find that your transportation and shipping costs can be reduced by shortening the transportation route. Plus, NAFTA can provide different international trade incentives. You can also reduce your freight expense and allow you to get quicker deliveries.
Negotiate Larger Orders to Reduce Transportation Costs
Many manufacturers will give you a discount on the cost of shipment with larger orders. Not only can you reduce the shipment costs, but you may also find that it reduces your production costs and price per unit are reduced when you order larger quantities.
Purchase Cargo Insurance
The reality is that things happen and damage to your cargo can occur. It can be a huge financial blow to your business when cargo is lost or damaged. Cargo insurance can provide protection during the loading and unloading process, as well as when the cargo is being stored throughout the transportation process.
Get Familiar with Customs Bonds
To keep your cargo moving, you do not want it to get delayed by Custom and Border Protection (CBP). When you purchase a customs bond, you are creating a third-party agreement that guarantees any financial obligations to the CBP will be taken care of and that if the principal cannot do so, then the duty will fall onto the surety. One way to reduce the cost of these bonds is to use a continuous bond, because once they are filed, then they will remain in effect until they are actively terminated.
Our company is one of the oldest and most trusted customs brokerage and shipping firms in Atlanta. Our experienced staff can help you to manage your freight and shipping processes. Contact us today to find out how we can help you to lower your shipping costs.
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.