5 Success Strategies for Import-Focused Freight Forwarders

While the core services offered by import- and export-focused freight forwarders can be similar—such as cargo space booking, cargo consolidation, warehousing, shipping documentation, and customs clearance, some notable distinctions can influence the success of each type of business. Here are some success strategies for import-focused freight forwarders: 

1. Stay on Top of Evolving Compliance Regulations

Import-focused freight forwarders require a superior understanding of the importing country’s regulations, including import duties, taxes, and customs clearance procedures. They must be adept at navigating the regulatory environment of the country where the goods are being delivered. Import compliance is critical to ensure shipments arrive on time and goods don’t incur unexpected charges.

The added challenge is that compliance regulations and trade tariffs are always evolving, making digitization and automation more important than ever before to ensure success in the world of imports. Magaya Customs Compliance is an ACE-certified compliance solution designed to help you quickly complete and file all relevant documents including eAWB, ISF, AMS, and more.

2. Build an Expansive Global Partner Network 

The most successful import-focused forwarders have established partnerships with carriers, customs brokers, and warehousing services – particularly in destination countries, ensuring smooth clearance and delivery of goods upon arrival.

The Magaya Network opens your business to a world of opportunities giving you instant access to a global community of over 2,300 supply chain companies situated across more than 100 countries.

On the Magaya Network, you can instantly exchange documents and data with your partners and agents that already use Magaya, benefitting from a more efficient, secure, and streamlined way to do business.

3. Streamline Purchase Order Management

As the entry point for shipments into inventory, POs (Purchase Orders) ultimately impact the productivity of an import-focused freight forwarder’s entire operation. Magaya Supply Chain streamlines, automates, and optimizes the Purchase Order workflow, ensuring that the import process starts strong.

By digitizing and normalizing your shipment data from the start, you can benefit from more automation, time-savings, and error prevention.

4. Focus on Customer Experience and Expectations

Import-focused forwarders typically cater to the needs of businesses and consumers in the destination country, requiring imported goods for consumption, use in manufacturing, or resale. Doing business across multiple time zones and cultures demands thoughtful strategy and enabling technology. The Magaya Digital Freight Portal enables 24/7 customer service with a branded digital forwarder portal that will set your business apart from the rest with schedules, quotes, bookings, purchase orders, warehouse visibility, and reporting your customers will love. It can be used with the TMS and rate management system of your choice, making it a flexible solution that can be deployed quickly without requiring extensive infrastructure changes.

5. Build a Strong Technology Foundation for Your Business

Import-oriented forwarders need a strong technology foundation that includes solutions for customs clearance automation, import compliance, and duty management. Technologies that provide visibility into the entire import process, from the point of origin through customs clearance and to final delivery, are essential. 

Import-focused forwarders benefit from systems that integrate with customs authorities’ platforms for smoother and faster clearance processes. Additionally, technology that facilitates the calculation of landed costs, including duties, taxes, and other fees, helps importers manage their budgets more accurately and make informed purchasing decisions.

In both cases, the adoption of technology that offers transparency, efficiency, and integration with global trade systems is crucial. However, the specific functionalities required may vary significantly between export and import forwarders, reflecting the distinct challenges and priorities of each direction in the supply chain.

In conclusion, the landscape for import-focused freight forwarders is both challenging and ripe with opportunity. As the demand for imported goods continues to grow, so does the complexity of the global supply chain. Success in this dynamic environment requires not only a deep understanding of compliance, customs, and logistics but also a strategic use of technology and a strong network of global partners. 

By employing these five strategies, import-focused freight forwarders can navigate the intricacies of international trade more effectively, ensuring that they not only meet but exceed the expectations of their clients. Embracing innovation and fostering relationships will be key to thriving in the competitive market of imports. As we move forward, the ability to adapt and leverage technology will distinguish the leaders in the field, enabling them to capitalize on the vast opportunities presented by the $3.08 trillion U.S. import market.