Today on the International Trade Resources Podcast, Kim Kirkendall is joined by Kenton Grimes to discuss the challenges companies face when negotiating an annual contract with a freight provider. They explore topics such as identifying suitable providers, determining who can offer comprehensive services, and what to have in your freight contract.
First, Kim and Kenton emphasize the significance of transparency in freight relationships. They discuss how transparent communication and sharing of information, including bad news, is essential for building strong partnerships and effectively managing international trade. They also delve into the complexities of managing freight contracts during turbulent times - to balance flexibility with cost stability.
They also discuss strategies for structuring contracts that allow for adjustments in response to market fluctuations while ensuring predictability in costs and lead times.
Lastly, Kenton emphasizes the importance of viewing freight providers as strategic partners rather than merely transactional entities. He highlighted the value of leveraging data collected by providers, fostering collaboration, and aligning goals to optimize supply chain operations and drive business success. Kim and Kenton collectively provide insight into the challenges, considerations, and strategies involved in selecting freight providers, managing contracts, and maximizing the value of partnerships in international trade.
Learn all this and more in this information-packed episode!
Things you’ll learn:
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