3 Immediate Ways the Right ITM Team Will Increase Business Value
Regardless of future intent, implementing steps to gradually increase the value of your business is not only an investment worth making, but one critical to the expected growth of your company.
Partnering with the right International Transportation Management (ITM) experts to co-manage your supply chain and international business, has the return capability to increase the value of your business by acquiring immediate access to a hands-on solutions team, guaranteed results through strategic logistics deliberation, creative price structuring, and amicable contracts negotiated on mutually beneficial terms resulting in extended relationships.
By turning transactional business affairs into well-developed and on-going partnerships, you can solidify progressive business development while your co-managing team of experts works to efficiently optimize your international business scalability.
Partnering with the Right ITM Team
Arguably, the most difficult component to any partnership is locating a suitable partner. Like any other competitive industry, sourcing lists of worthy businesses are certainly no issue. The question then becomes, how do you effectively wade through the initial list of ITM companies bidding for your business?
Simple. Develop a checklist and drop each candidate down the boxes to see who is best suited for your business and projected goals. Here are some of our inquisitive suggestions:
· Does the team allow for collaborative efforts?
· Does the team offer a visibility platform to access prevalent shipment updates and information?
· Does the team generate consistent analytics and provide relevant access to granular data?
· Does the team have an extensive and well-reaching network of carrier and agent relationships?
· Does the team offer differentiating factors in comparison to other ITM companies? What makes this one stand out to you?
While this won’t automate your search for a viable ITM partnership, it will help to streamline the process while allowing comparative results on consistent factors.
Hands on Solutions Team
Finding ITM experts with an in-house Solutions Team assigned to you and taxed with the job to customize solutions specifically for your nuanced issues is vital to the overall success of your international business and the longevity of your company’s growth.
Perhaps the most efficient way to explain the benefits of a Solutions Team is to provide an example. We outlined this case study a few weeks ago, but it poses the necessary issues found relevant in this topic as well. You can read it HERE, or find it outlined again directly below.
CLN Worldwide Case Study (synopsis): We were handling the international transportation and business of a company distributing food products to Europe. The company was shipping product on the ocean to the final destination of Dublin, Ireland, but with a stop first in Rotterdam.
The time on water was consistently six weeks thus causing the company to keep an excess of stock in their inventory.
Our Solutions Team proposed a direct route, which initially cost more per container, but would cut transit time in half, to three weeks. This allowed for the company to stock less inventory and freed up $500,000 of previously stifled cash flow that they could now reinvest in another product.
The company consistently worked on a 40% profit margin which allowed them to pocket $200,000. They were then able to move the new product on a quarterly basis, resulting in an $800,000 profit from the minor shift in their previous transportation management plan.
The extra cost initially incurred on the shipping containers were drops in the proverbial bucket in comparison to the near 1 million extra dollars in profit as a direct result.
The benefits of co-managing international business and logistics with a knowledgeable ITM Solutions Team is critically understated and underutilized within the industry. The wherewithal to make minor adjustments could be the difference in business success and failure.
Feel free to email us HERE today regarding information on what our Solutions Team can do for you and your business’s bottom line.
A guarantee is an offer set to mitigate initial risk. Easy as that. But a guarantee also evokes confidence and trust when contemplating business with a company.
· Is the guarantee something you will directly benefit from?
· Does the guarantee offset the initial buy-in?
· Will you be happy with the guarantee or do you need more?
· Is the guarantee relevant to the services offered by the ITM company?
· Is the guarantee radical enough to initiate a change in your current decision-making process?
If your current co-managing solutions team isn’t working on guaranteed outcomes, ask yourself why? Perhaps your business is in need of implementing new progressive ideologies, evolutionary concepts, and customizable strategies.
Management Fees vs. Transactional Business
The logistics industry is currently embedded in a world of transactional relationships. Request a quote, receive a quote, ship a container, rinse, and repeat.
What if, instead, logistics and your entire international business were conducted in a co-management style, more conducive to an ongoing partnership.
This eliminates the need for countless quote requests on an individual shipment basis and instills confidence within your logistics department to know that any problems are being quickly defined and immediately followed with possible solutions.
CLN Worldwide offers a co-managing international business model for improved logistics and expedited business development.
Logistics are complex in nature and require a certain skill-set to efficiently manage while simultaneously ensuring a fully optimized supply chain. One question often leads to three others. Our ITM Solutions Team has expertise in areas ranging from transportation, Customs and compliance, to distribution, legal and finance. Our team will manage the maze for you.
We offer a complete range of end-to-end International Transportation Management services that are customized and tailored to meet the specific requirements of our clients. Our focus is not on an individual product group or service offering but rather a comprehensive approach to co-managing logistics.
If you have any questions regarding your current supply chain or logistics management team and would like to see how we could guarantee you save money on your current transportation model, feel free to reach out to us HERE today. We look forward to working with you.