{"id":30263,"date":"2020-01-10T00:00:00","date_gmt":"2020-01-10T00:00:00","guid":{"rendered":"http:\/\/test.tranistics.com\/nvision\/2020\/01\/10\/its-time-to-revisit-rate-negotiations-2\/"},"modified":"2020-01-10T00:00:00","modified_gmt":"2020-01-10T00:00:00","slug":"its-time-to-revisit-rate-negotiations-2","status":"publish","type":"post","link":"http:\/\/test.tranistics.com\/nvision\/2020\/01\/10\/its-time-to-revisit-rate-negotiations-2\/","title":{"rendered":"It\u2019s Time to Revisit Rate Negotiations"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\" style=\"--awb-text-transform:none;\"><p>Your business has grown and your needs have changed. Have your shipping contracts evolved in tandem? Chances are, they haven\u2019t. The rates and terms you negotiated in the past may not apply to your business\u2019s current needs. Now is a prime time to readdress and reconsider them. <a href=\"https:\/\/corporate.nvisionglobal.com\/freight-rate-negotiation\/\" target=\"_blank\" rel=\"noopener noreferrer\">Focusing on rate negotiations<\/a> will help your business establish better shipping partnerships with more favorable terms, so you can continue growing.<\/p>\n<p>The first quarter is a prime time to discuss rates with carriers. Major carriers like UPS, FedEx, and USPS <a href=\"https:\/\/www.shipstation.com\/blog\/carrier-rate-increase-2019\/\" target=\"_blank\" rel=\"noopener noreferrer\">deploy General Rate Increases (GRIs)<\/a> at the end of the fiscal year (December) or at the very beginning (January), meaning it\u2019s prudent to examine your budgeting models during this time. In doing so, you can also address your rates with smaller carriers, including any local or regional intermodal carriers you work with on a regular basis.<\/p>\n<h2>Prepare to Negotiate<\/h2>\n<p>Reassessing your rates and negotiating lower ones takes strategy. You can\u2019t simply go to the table and say \u201cI want a lower rate.\u201d Everyone wants a lower rate! To be effective in securing lower rates, you need to justify them.<\/p>\n<ul class=\"margin\">\n<li style=\"margin-bottom: 1em;\">Provide detailed presentations of your shipping volume and frequency with each specific carrier. This shows your importance as their customer and puts your business into real dollars and cents.<\/li>\n<li style=\"margin-bottom: 1em;\">Outline your surcharges and special fees and explain them in context of your business. These are great places to negotiate if you can demonstrate how reducing them will improve your relationship with a carrier.<\/li>\n<li>Show your business\u2019s growth outside of shipping. Providing this context to partners gives them incentive to appease you. No carrier wants to lose a customer rapidly expanding, knowing their shipping volume is likely to mirror that growth.<\/li>\n<\/ul>\n<p>Negotiation is the key concept here. Shippers want consistent business at scale businesses want low rates. Find something that works for both. You need to provide indisputable evidence to support your demand for lower or more favorable rates. Numbers speak volumes; dollar figures are king.<\/p>\n<h2>Position Yourself to Benefit Carriers<\/h2>\n<p>Although numbers and figures are important, there are intangibles you also can leverage in rate negotiations. For example, carriers value steady and consistent runs, load management, operational excellence, and more. These characteristics make your business more valuable than erratic partners.<\/p>\n<p>There\u2019s also the option to consolidate your freight demands. A shipping carrier that\u2019s valuable to you may warrant more of your business, which can parlay into lower shipping rates. This best-of-both-worlds scenario is ideal for both parties and usually sets the tone for a stronger ongoing relationship.<\/p>\n<h2>Don\u2019t Negotiate to a Detriment<\/h2>\n<p>Rate negotiations should never come down to an ultimatum. \u201cLower my rate or I leave\u201d is not a productive approach to garnering lower rates. Even if they do reduce rates, there likely will be tension in your partnership in the future. Be mindful of the give-and-take balance in negotiations and work to find a compromise that benefits your business and the shipping carriers you rely on.<\/p>\n<div class=\"cta\" style=\"background-color: #eaeaea; border: 1px solid #ccc; border-left: 5px solid #1B4381; clear: both; padding: 1em; margin: 1em 0 1em 0;\">Rate negotiations are a routine part of any ongoing partnership between businesses and shipping providers. It\u2019s important to give them the due diligence they deserve. Make sure you\u2019re broaching the subject and securing the best possible rates. For assistance with rate negotiations, count on nVision Global <a href=\"https:\/\/corporate.nvisionglobal.com\/supply-chain-contact-us\/\" target=\"_blank\" rel=\"noopener\">contact us<\/a> for more details.<\/div>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-30263","post","type-post","status-publish","format-standard","hentry","category-shipping-logistics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>It\u2019s Time to Revisit Rate Negotiations - nVision Global<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"http:\/\/test.tranistics.com\/nvision\/2020\/01\/10\/its-time-to-revisit-rate-negotiations-2\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"It\u2019s Time to Revisit Rate Negotiations - 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