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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...

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...

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....

Last Updated: October 21, 2024   When you’re new to the world of shipping, the terminology can feel overwhelming. One set of terms that causes considerable confusion are Incoterms®. The Incoterms rules, created by the International Chamber of Commerce (ICC), define 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.   How Incoterms Impact Buyers’ and Sellers’ Bottom Lines The Incoterms rules form a crucial part of any agreement between buyers and sellers by dictating who will pay for loading and...

With plenty of warnings that current supply chain challenges may make this holiday season more complicated than usual, everyone is gearing up early.  From consumers,  retailers, manufacturers, suppliers, carriers, and logistics companies, everyone is planning for a challenge in ordering and receiving products.  Additionally, as the year comes to a close, COVID-19 will remain a global X-factor. The threat of the virus will continue to influence consumer buying behavior and force shutdowns in areas where vaccines are in short supply. Additionally, illness and quarantine requirements will continue to remove workers from an already bare-bones workforce.  Despite the widespread unpredictability at play, the following statistics can offer some insights into the 2021 holiday season. They'll also point to some areas to watch as organizations around the world strive to keep their supply chains flexible and responsive through the end of the year.  Overall Trends...

Last updated: 5/15/2024 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 my shipment’s freight class? Will my pallets fit in a 40-foot 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:Your Content Goes Here Calculate the volume of your shipment...