If you are like most freight companies, you are constantly looking for ways to cut costs. In the freight industry, there is little you can do for immediate savings, but there are measures you can take to make an impact on your annual savings.
Keep reading to learn the top 6 ways to minimize costs to your shipping expenditures.
Reorganize Your Packing Schematic
When shipping bulky items, there is typically wasted space. Rather than shipping the same amount of items in the same cargo container, try taking a different approach. Reorganize your packing schematic plan to potentially enable more goods to be shipped in each container. This can result in major savings throughout the year.
2. Match the Container to the Cargo
As you know, one size does not fit all in the freight industry. Before choosing the right container for your cargo, be sure that you have the proper measurements. This will maximize the amount of cargo that can be filled into one container.
Before you choose the container, consider who or what will be transporting it. What is best for the carrier isn’t always the best for the shipper.
3. Mix Weight and Measure Products in the Same Box
Weight products take up far less space than measure products. Rather than shipping an excess box to keep all items from the same set in the same box, spread out the item between three or four boxes of cargo that is already being shipped. The best savings of all comes from not having to use excess packing boxes!
4. Assess Your Monthly, Quarterly, and Annual Database
Check your databases frequently to track how many containers you ship and what size containers you are shipping. By gathering this information, you will be able to work out a better plan with your carrier to save money on exports for the following year. You will be able to adjust schedules, equipment, and other materials to help cut costs on both ends.
Plan in Advance
Last minute shipping is costly. By planning all of your shipments in advance, you will be able to save on one of the most costly ventures in the industry. When you use express or short term shipping, you will most likely be overcharged. When planning in advance, not only will you avoid these charges, but you can also score some nice discounts.
6. Stock Up Inventory During Sales
One of the worst feelings is when you can’t take advantage of a great deal. During certain times throughout the year, things like shipping materials will go on sale. The savings can be astronomical. If your freight company suffers from poor cash flow, you often can’t take advantage of deals.
By using freight factoring, you can build up your business’s source of capital. Freight factoring allows you to sell your invoices to get up to 96% cash in just 24 hours or less. This gives you instant cash to spend on whatever you please. With freight factoring, you can factor all, some, or one of your invoices to get the right amount of cash in your pocket practically overnight.
We hope that you consider these 6 tips to save money on your annual freight costs. By preparing early and packing strategically, you can save your business massive amounts of money per year.
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