The Business Challenge
The client, one of the largest import and export company. The customers of the client were incurring excessive demurrage at US ports of entry, which resulted in extended credit terms to their customers. Additionally, while some deliveries arrived too soon, others required expensive rush trucking in order to arrive on time. As a result, it was vital for the import and export client to provide their customers with accurate and reliable information about the expected arrival of their merchandise. This was possible only through enhanced visibility of the customer’s supply chain.
Engagement Overview
To provide the ability to monitor, measure and manage the supply chain, SpendEdge, tailored a comprehensive research methodology. The research approach comprised of primary and secondary research coupled with qualitative and quantitative data collection procedures. During the course of this supply chain management engagement, the import and export company client gained greater visibility into the supply chain and measured their supply chain capabilities.
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Key Findings
The supply chain management engagement helped the import and export company to save over EUR 600,000 for the first year alone. Additionally, with improved product availability, the import and export client increased their turnover.
SpendEdge has been serving clients across various industries for more than 15 years with the best-in-class procurement and supply market intelligence solutions to drive sourcing and procurement excellence. Our procurement market intelligence solutions have helped procurement and sourcing professionals from the top Fortune 500 companies to gain actionable insights for better decision making. Request a free proposal below to know more about our procurement services.
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Import and Export Industry Overview
Over the past few years, as international trade barriers are slowly narrowing down, and a new era of world trade is emerging, import and export companies have started to proliferate. Driven by globalization and the development of all developing and developed economies, import and export companies play an important in the movement of goods and services from country to country.
We offer customized procurement market intelligence solutions as well as a subscription to ready-to-use market intelligence reports to help sourcing and procurement stakeholders make informed business decisions. We also help enterprises to reduce the time spent on analysis and curating information so that more time can be devoted to strategic sourcing and cost reduction. Request a free demo to gain better insights.
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However, a few factors are influencing the growth of the import and export companies:
Transit Time: Import and export companies face issues of backlogs at trans-shipment ports, thereby, causing unnecessary delays, congestion at destination ports, and abnormal fees charged by agents at the destination.
Logistics: Needless to say, logistics plays a crucial part in international trade, often becoming the most significant challenge when things don’t move as expected. This includes cancelation of inbound vessels, delay at the port of loading, delay at transshipment, and many more such delays. This ruptures the whole schedule causing a lot of troubles to both importers and exporters.
These factors are forcing import and export companies to leverage the use of supply chain management solutions. Supply chain management solutions provide more significant visibility into supplier capabilities, contract status, and operational experience. These solutions also facilitate tighter controls of procurement spends and compliance monitoring across the supply chain.
Do you operate in the export and import industry? Get in touch with us to know how supply chain management can benefit your business.
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