December 13, 2021By: mcameron
Created by the International Chamber of Commerce, Incoterms are a series of three-letter designations that define responsibilities between buyers and sellers around the sale of goods, specifically related to transportation costs and liability. If you’re looking for more information on Incoterms, check out our other articles on this topic: The Complete Guide to All 11 of the 2010 Incoterms Rules Incoterms 2020 Rules: Everything You Need to Know Protect Your Bottom Line by Understanding These 5 Common Incoterms When you’re negotiating a contract to buy or sell goods, knowing your Incoterms® can save you time and money—and prevent unexpected costs that could hurt your...
Read MoreDecember 13, 2021By: mcameron
Created by the International Chamber of Commerce, Incoterms are a series of three-letter designations that define responsibilities between buyers and sellers around the sale of goods, specifically related to transportation costs and liability. If you’re looking for more information on Incoterms, check out our other articles on this topic: The Complete Guide to All 11 of the 2010 Incoterms Rules Incoterms 2020 Rules: Everything You Need to Know Protect Your Bottom Line by Understanding These 5 Common Incoterms Incoterms, or International Commercial Terms, were created by the International Chamber of Commerce (ICC). Let’s talk specifically about the FCA Incoterm and what it might mean for you. What Does FCA...
Read MoreDecember 6, 2021By: mcameron
The pandemic—and its effects on global supply chains—held insights for manufacturers, suppliers, and retailers alike. Some questioned the validity of the popular just-in-time model for supply chain management. Others are seeking ways to make their supply chains more resilient, so they’re able to flex in response to future global incidents.  Diversification can be a key strategy for reducing the effect of disruptions on your supply chain. Simply put, supply chain diversification is the real-world application of the old adage, “Don’t put all your eggs in one basket.” It asks supply chain managers to reduce their reliance on single sources for components, supplies, and/or finished goods. That way, if one source...
Read MoreNovember 25, 2021By: mcameron
Updated 11/25/21 Freight class can tell you a lot about a commodity. Most importantly, an item’s freight class speaks to its “transportability”—how difficult or easy it is to ship. With this information, a carrier, a 3PL, or a freight forwarder can tell you how much it will cost to ship. In other words, freight classes offer a standardized way to classify less-than-truckload (LTL) freight shipments, making them easier to price. In this article, we’ll walk you through everything you need to know about freight classes, including what they are, what they’re based on, and how you can determine the freight class for your own shipments....
Read MoreNovember 20, 2021By: mcameron
When you’re new to the world of shipping, the terminology can feel overwhelming. Experienced shippers, buyers, and sellers may even sound like they’re speaking a foreign language. One set of terms that causes considerable confusion are Incoterms®. This set of rules, created by the International Chamber of Commerce (ICC), defines the responsibilities of buyers and sellers around the delivery of goods. The ICC updates this set of rules every ten years, with the most recent update—the aptly named Incoterms 2020 rules—released in 2020. The Incoterms rules form a crucial part of any agreement between buyers and sellers by dictating who will pay for loading and unloading...
Read MoreNovember 8, 2021By: mcameron
Last updated: 11/5/2021 When it comes down to it, freight is all about numbers. What are the dimensions of your shipment? What’s the volume? The weight? How do I calculate cubic feet? How much will fuel cost? How can I determine freight class? Will my pallets fit in a 40′ container? Find the answers to these questions and you’ll know how to estimate your freight costs—and optimize your budgets. We worked with our pricing team to put together some quick explanations of the most common freight math you’ll need. We’ll show you how to calculate the cubic feet of your shipment, figure out if your freight will fit through the opening of a container, and more. With just a few simple formulas, you’ll be on...
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