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Procurement Market Intelligence Report

Freight Forwarding Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Freight Forwarding Services?

What is the average price of Freight Forwarding Services?

This procurement report includes pricing information to help you purchase Freight Forwarding Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Freight Forwarding Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Freight Forwarding Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Freight Forwarding Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Freight Forwarding Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Freight Forwarding Services?

The freight forwarding service market is moderately concentrated, with the top four companies accounting for between 30.0% and 50.0% of total revenue in 2019. Although there are an estimated 15,000 freight forwarders in the United States, large market players, such as CH Robinson Worldwide, UPS, Deutsche Post and FedEx generate... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Insurance

In addition to cargo insurance, do you have errors and omissions insurance?

What does your insurance cover?

What are your policies if shipments are lost or damaged?

What is your damage-to-claims ratio?

Customer Service

What level of tracking service is available while my goods are in transit?

What type of notice do you need in the event of an unexpected freight shipment?

What is the average wait time to talk to a customer service representative?

How many customer service representatives are on call during business hours and outside of business hours to help resolve potential issues as they arise?

How do you track customer satisfaction?

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Key elements for every RFP

What should my Freight Forwarding Services RFP include?

Project Budget

Buyers should request a detailed breakdown of the rates applied to the buyer for different types of transportation services.

Buyers should indicate their expectations for payment schedules and methods.

Buyers should request a breakdown of any additional fees that may be applied, including fuel surcharges, customs fees, insurance, and demurrage or other fees.

Selection Criteria

Buyers should prioritize vendors that have partnerships with businesses that can serve the buyer’s routes and capacity requirements.

Buyers should consider the vendor’s experience and reputation when evaluating potential suppliers.

Buyers should weigh a vendor’s customer service capabilities, including their tracking and communication methods.

Buyers should consider the vendor’s compliance with all relevant regulatory agencies to ensure that they will not face any liability or price increases.

Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.

Project Schedule

Buyers should indicate the deadline for proposals submissions.

Buyers should state when award information will be made available.

Buyers should indicate their desired start date for services.

Evaluate major factors to mitigate risk

How risky is the Freight Forwarding Services supply chain?

Freight forwarding service suppliers have a moderate degree of supply chain risk. Gas and petroleum wholesalers pose the highest level of risk to the supply chain; these wholesalers experience high price volatility because the world price of crude oil is subject to rapid and unexpected fluctuations. These upstream suppliers pass... Subscribe to learn more.

HIGH

MEDIUM

LOW