What are logistic services and how can they benefit your business?

If you want more streamlined processes that help you take advantage of last-minute opportunities or less stress knowing there is someone to support your business, then a logistics service could help. From storage solutions, to tracking, and financial services, a logistics service can make your life much easier.

What are logistics services?

Logistics don’t have an exact definition, but logistics services encompass a wide range of activities. There are two types of logistics, inbound logistics and outbound logistics. Inbound logistics can include the gathering, handling, and storing of information. Outbound logistics can include collection, delivery to customer, and maintenance. There are also five main elements to logistics including:

• Storage, warehousing, and handling
• Packing
• Inventory
• Transport
• Information

These are the main umbrella terms for which logistics services fit under.

What are the 7 factors of successful logistics?

For logistics and supply chain management to be successful, the Chartered Institute of Logistics and Transport UK, cite the following factors:

1. The right place
2. The right time
3. The right quantity
4. The right quality
5. The right price
6. The right product
7. The right customer.

All of these are essential to get right to optimise your business. If you don’t have the right quantity of items, then customers may have to wait or more likely purchase from your competitor. Or if you don’t know who your customer is then you’ll miss the mark when it comes to choosing the right product.

What are the types of logistics services?

There are many different types of logistics management, but some include the following.

Freight exchange

This is where you can match up with carriers, brokers, or shippers across Europe. Whether you need cargo to ship or whether you need to ship your cargo, there is a business partner waiting for you. This means your business is efficient without expensive empty runs and you can take advantage of new revenue opportunities as they arise. TIMOCOM has one of the largest freight exchange in Europe, giving you access to over 147,000 users and one million freight and vehicle offers every day.

Tracking

A logistics service can provide smart tracking to track all vehicles and shipments. You can also share your GPS data temporarily with business partners. With our Marketplace, you have everything you need in one place to save you time and stress.

Warehousing

If you need goods last minute to fill your warehouse, or you need to store your goods somewhere then warehousing services helps connect you to businesses to suit your needs. Whether it’s a bonded warehouse or a non-bonded warehouse, there are over 9,000 warehouses and logistics spaces all over Europe which you can connect to through TIMOCOM.

Financial services

Fed up with unpaid invoices that are affecting your cashflow? A logistics service can provide a debt collection service to deal with this for you. TIMOCOM financial services have been successful in 87% of cases, meaning you won’t miss a payment and you have someone in your corner.

The importance of logistics

Logistics services are continuing to expand with an increasing workforce and a higher contribution to GDP. Some firms don’t think logistics are an important part of their business which puts them at risk from competitors and means they miss out on making their business more efficient.

What’s a logistics company?

A logistic company can help with the movement and storage of your goods. They can undertake everything from how to ship your goods, store your goods, and deliver your goods.

What is the purpose of a logistics company?

A logistics company can help you grow your business by making your process more efficient. A freight forwarding company can be an end-to-end service that supports you and provides better technology that may be outside of your business budget. Knowing you have a third-party business partner can give you security and reduce your stress of having to juggle every aspect of your business yourself.

Advantages of outsourcing logistics

• You can streamline your logistics process and reduce paperwork, decrease inventory, lead-time, and risks. 
• You can provide better customer services with a more efficient system that gets your goods to your customers quickly with faster transit times.
• Improve your communication, delivery returns, and cash-flow. A logistics service can provide financial services to chase up unpaid invoices and provide support when you need it. 
• You can take advantage of new revenue opportunities to improve your competitive position.

How do I choose the best logistics service provider?

Providing the right services

You must assess areas of weakness in your business and see which services could be improved. These are the services you should focus on outsourcing. Make sure any logistics company you consider can meet each of the services you require. You should also consider what you may need in the future. A logistics company should not only help you now but allow you to grow.

Company reputation

Like most things in life, if a lot of people use a product or service then it clearly is doing something right. The same is true for a logistics service. If the company has established a reputation in the freight forwarding business and is used by many people, then they are clearly getting results for their customers. Not only that but a company with years of experience will have the knowledge to help you most and support you as you grow your business. TIMOCOM have been operating since 1997, continuing to change with the times and helping many businesses achieve success.

Customer service

If a company provides good customer service, then it will have no problem providing reviews and references from its customers. Any reputable logistics company will provide a list of their clients and quotes from their customers about their service. Make sure to check what their customers say to get an idea of how they could help your business and if what they do suits you.

Safety

The safety of your goods, vehicles, or warehouses is a major concern. Both your physical items and any of your information online too. For example, does the company provide an individual security access key to your account? Is their mobile app PIN protected?

Technology

Technology is the key to improving your business, so you need to choose a business partner that knows the importance of technology. 
Do they invest in technology? Are they always looking for ways to make it better? Do they have a backup system that mean servers are always available?

How TIMOCOM can help?

TIMOCOM can provide logistics services to your business at any stage of your development. With our Marketplace, we can help connect you to new revenue opportunities, track your shipments, offer financial support, as well as many other functions. If you want a reliable business partner to support your business today, then contact us for more information.