Freight Procurement Tips with Trent Morris

Yes, Trent is back this week with more Procurement tips. This time we talk about Freight Procurement. Freight transport can be a huge cost in many organisations. If you need any assistance on any of the topics on this channel, just visit us at: https://logisticsbureau.org/-PLxDyPgMt8-contact-us ------------------------------------------------------------------------------------------------------------------------------------------------- ✔️ Need Some Help with Freight Rates?✔️ Just contact me on LinkedIn and send me a message there: https://logisticsbureau.org/-PLxDyPgMt8-rob-li OR ✅ CHECK US OUT HERE ✅ https://logisticsbureau.org/-PLxDyPgMt8-freight-consultants We have very Experienced Freight Consultants --------------------------------------------------------------------------------------------------------------------------------------------------- 👇 TIMESTAMPS (in case you want to skip) 👇 0:00 Intro 1:05 Biggest challenge in Freight Procurement 3:08 Rationalising Freight or carrier support 5:18 Common misconceptions about procurement approach 9:37 Outro 🟨 Don't forget 🟨 to SUBSCRIBE. New Supply Chain videos every Wednesday. AND 🙋 Do Please comment with your thoughts, suggestions and any questions ⚡ MORE Free Resources ⚡ My Supply Chain BLOG. https://logisticsbureau.org/-PLxDyPgMt8-blog 💥 Global CONSULTING Support - from Logistics Bureau 💥 https://logisticsbureau.org/-PLxDyPgMt8-lb Logistics Bureau is my 'day job'..... ⚡ LET's CONNECT ⚡ LinkedIn (me): https://logisticsbureau.org/-PLxDyPgMt8-rob-li and (my business) https://logisticsbureau.org/-PLxDyPgMt8-li-page Facebook: https://logisticsbureau.org/-PLxDyPgMt8-fb Twitter: https://logisticsbureau.org/-PLxDyPgMt8-twitter Insta: https://logisticsbureau.org/-PLxDyPgMt8-scs-ig ------------------------------------------------------------------------------------------------------------------------------------------------------------ Freight transport procurement, while crucial to efficient supply chain operations, can often be a source of common and costly mistakes. 1. **Neglecting Comprehensive Market Research:** Companies often overlook extensive market research, leading to uninformed decisions. Understanding current market trends, rates, and services is vital for optimal procurement. 2. **Focusing Solely on Price:** Overemphasis on securing the lowest possible rates can lead to compromised service quality. While cost-effectiveness is crucial, it shouldn't overshadow other factors like reliability and service scope. 3. **Not Considering Total Cost of Ownership (TCO):** Many businesses fail to account for hidden costs like penalties for late delivery, costs associated with damaged goods, or additional handling charges, leading to inaccurate cost calculations. 4. **Inadequate Contract Review and Negotiation:** Freight contracts can be intricate with complex terms and conditions. Neglecting thorough review and negotiation may result in unfavorable terms and unexpected liabilities. 5. **Failure to Adapt to Changing Needs:** The freight needs of a company may change over time. Not reviewing and adapting your procurement strategy to these changes can lead to inefficiencies and escalated costs. By avoiding these common mistakes in freight transport procurement, businesses can achieve more cost-effective, reliable, and efficient logistics operations. ------------------------------------------------------------------------------------------------------------------------------------------------- ✔️ Need Some Help with Freight Rates?✔️ Just contact me on LinkedIn and send me a message there: https://logisticsbureau.org/-PLxDyPgMt8-rob-li OR ✅ CHECK US OUT HERE ✅ https://logisticsbureau.org/-PLxDyPgMt8-freight-consultants We have very Experienced Freight Consultants ------------------------------------------------------------------------------------------------------------------------------------------------- #freightprocurement #Procurement #procurementtips