LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Freight Forwarding Services Category - Procurement Market Intelligence Report.
The recent boom in the cross-border trade in the global e-commerce industry is creating an exponential demand for freight forwarding services market. To minimize the overall operational cost, most of the retailers located in the developed economies are outsourcing their manufacturing operations to low-cost countries. This practice is driving the gross merchandise value for cross-border e-commerce trade, that touched a figure of about USD550 billion last year and will continue to grow. This, on the other hand, will supplement the category growth during the forecast period. However, engaging the workforce to fulfill the category-related tasks will result in overriding operational expenditure for the freight forwarder, which finally increases the buyer’s procurement spend. Download the Free Sample of the freight forwarding services market intelligence report here!
The US accounts for a high rate of export of goods because of the presence of flourishing industries like manufacturing heavy machinery, electrical equipment, chemicals, aircraft, and petrochemicals derived from crude oil. Consequently, buyers from those sectors are partnering with freight forwarders to get assistance on services such as customs clearance, documentation, and cross-border logistics. This is driving the category spend momentum in the region. The establishment of manufacturing hubs in APAC will be one of the significant category enablers driving the growth of the freight forwarding services market in the region.
This market intelligence report offers recommendations on pricing strategies that are being leveraged by the leading players to procure from the bets freight forwarders at cost-effective rates. Additional insights provided in this report include supply selection criteria, procurement best practices, and category management strategies that will help buyers to improve their supply market performance. Not what you are looking for? Request for free customization.
“It is recommended that buyers partner with freight forwarders that can offer LCL consolidation services with minimal delays,” says SpendEdge procurement expert Anil Seth. “This will enable buyers to use and pay for freight forwarding services as per their requirements,” added Anil.
This freight forwarding services market intelligence report has highlighted the following factors that are defining the category pricing strategies across the geographies. They include:
- Engage with technologically competent service providers to reduce category spend
- Rise in crude oil and labor costs is a significant concern for category service providers
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SpendEdge’s procurement market intelligence reports for the logistics, warehousing and transportation category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost-savings. The supply market forecasts provide information on supplier selection criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Freight forwarding services
- Market favourability index for suppliers
- Competitiveness index for suppliers
- Category pricing strategies
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Category management enablers
- Procurement best practices
- Supplier selection criteria
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- Category hierarchy
- Category scope
- Category map
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