In the post-COVID-19 world when an enormous 75% of logistics companies are suffering from supply chain disruptions as a result of the pandemic related restrictions, it is all the more important for freight forwarders to stick together and work collectively. Logistics companies, especially small and medium-sized logistics companies can reap a host of advantages by collaboration. Companies which are still not a part of a trustworthy logistics network stands to lose out a substantial amount of business every year while logistical collaboration with your partners can result in multiple mutual gains. This post is all about the importance and benefits of collaboration in the supply chain industry.
Reasons why you need to collaborate:
- Collaborating with your network partners can help you reach new markets and offer new services through enhanced possibilities for postponements, warehouse kitting and delivery. Freight forwarders collaborating with each other have an increased chance of achieving better territory coverage by combining their fleets, expertise and workforces.
- Pooling and utilizing the strengths of individual companies can help both the collaborating organizations to enhance their operations.
- All the parties involved in the project need to understand that they stand to gain a lot more by collaborating rather than by working alone.
- Competitors in the industry would do better by working as partners since it would lead to substantial cost cutting. Continued collaboration with your network partners is especially effective in this regard.
What makes collaboration work?
When it comes to a successful and profitable joint venture, the first and foremost thing you need is patience. You need to nurture your relationship with your partner and often you need to join forces for months in order to optimize results from the partnership.
Mutual respect and trust are absolutely indispensable for a rewarding collaboration. As a Coop member you can rest assured that all your partners have been chosen for their financial strength, creditworthiness, reputation, business volume and competitiveness. So there’s no need to worry about unknown and unreliable partners.
Increase your chances of winning more collaborative projects by attending our Annual Meetings where you can sit one-to-one with your network partners, showcase your strong-points and confer about the prospects of teamwork the months to come.