The world of import and export business, while it can be very lucrative, is also a very complex and challenging industry to navigate as well. In essence, running an import and export company will require you to maintain an efficient supply chain operations so that you can deliver your good to your final point of distribution on time. Achieving such a level of efficiency is crucial not only to achieve good revenue but also to establish a good reputation in the international trading community.
For startup import and export business, establishing their supply chain capabilities by their own is almost an impossible endeavor. Not only they will have to negotiate directly with shipping lines to get a cost-effective freight quote, but they will also have to clear their shipments by themselves on this customs yard once it arrives at the destination port.
To help in these important aspects of the supply chain, most import and export businesses nowadays hire the services of freight forwarders and customs brokers. But how do their services differ, and what benefits do they provide to importers and exporters? To learn the difference between a freight forwarder and customs broker, check out this infographic from Excelsior.