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August 27, 2020 by Logistics

Are your freight costs going up?

If so,  you are not alone. The recent disruption in supply chain due to Covid-19 has been challenging and well documented.  Being able to ship product on demand is a basic business need. The challenge in today’s environment is lack of predictability.  As Covid-19 cases increased, demand for food to restock grocery stores rose dramatically, while demand for food from restaurants and hotels slowed drastically. This shift is just one example of an extraordinary change in freight demand. As demand goes up, prices go up. As demand goes down, prices go down. When both are happening at the same time…it can be very challenging. 

A third-party logistics company can help relieve some of this stress because of the volume of freight they handle and their close monitoring of truck capacity. This volume means they have strong relationships within the transportation industry and warehouse space at their disposal to help provide solutions that many transportation companies cannot offer. A strong 3PL team is dedicated to finding solutions for their customers often in unexpected ways. A 3PL can help “flatten the curve” of your freight cost and reduce the heartburn that comes with high price volatility. Below are a few specific ways a 3PL can help when your freight costs are going up and your demand for freight is changing rapidly. 

  • Local Delivery – 3PL’s have trucks running every day within a 150-mile radius of their location to serve multiple customers. By putting multiple clients product on one truck the cost is reduced for all. As a matter of fact, when more clients that have different products going to the same locations (Example: hospitals) everyone saves money and reliability increases. 
  • Dedicated Lanes – If a 3PL has a truck shipping freight from point A to point B for one client and finds another client who needs product shipped from point B to point A, then the 3PL can “match” the driver and truck with the loads. Everyone benefits from this relationship. More predictability, lower cost, and a knowledgeable and reliable driver who knows what you need and when you need it.
  • Drayage – International shipments, whether exports or imports, can be difficult to time with respect to labor.  A 3PL can help by not only picking up TEU’s (containers) from the port but they can either transport directly to your warehouse or client, or they can cross-dock the product (usually less than a week) at their warehouse to allow more time to find the lowest freight cost available. The Virginia Ports and the Richmond Marine Terminal are very attractive options because of their locations on the East Coast.
  • Change in Mode – Another example of how freight costs have shifted dramatically is in the airlines. The cost of using passenger airlines to ship freight internationally has increased because the number of passenger flights has dropped substantially .  Before, freight was added  to flights that were frequent and reliable so capacity was available at a reasonable cost. Now, with so few flights, there is a  significant decrease in freight capacity.  Shipping internationally may require dedicated freight flights often with an expedited focus which comes  at a much higher cost. How is  this problem solved? Maybe  with a shift in mode of transportation! Instead of Air freight maybe the shipment travels internationally by ship, or domestically by rail or truck. Obviously, timing can be a factor that needs to be taken into consideration. Low Air Freight may be a long way in the future but a 3PL company  can help.
  • Flexibility – A 3PL has many solutions to choose from to help lower your freight costs and offer cost savings from unexpected places. As you navigate the uncertain future cost of freight, it only makes sense to develop a partnership that focuses on reducing costs to help you navigate the challenges ahead.

————–

Riverside Logistics is a third-party logistics and supply chain management company providing a full complement of third-party logistics, transportation and warehousing solutions.

Riverside Logistics serves the Medical, Food, Chemical, Paper and other mission critical industry sectors.  Riverside Logistics has owner operator’s and dedicated lanes, with routes throughout Virginia, the Mid-Atlantic and the Southeast. Riverside Logistics offers pooled distribution and consolidated delivery services throughout the 48 states that can save you money. They are headquartered in Richmond, Virginia. To contact Riverside Logistics for a quote call 1-804-474-7700 Option 4 or click here.


Filed Under: Transportation News Tagged With: Change in Mode of Shipping, Drayage, How can a Third-Party Logistics Company Help (3PL), How do lower Freight Cost, How to ship LTL, Less than Truckload LTL, Local Delivery Options, Norfolk Ports, Richmond Marine Terminal, Richmond Virginia, Small Package shipping, Truck Brokerage Firm, Truckload, VA, Virginia Ports

September 23, 2016 by Logistics

Riverside Logistics chosen for the television show “The World’s Greatest”

Riverside Logistics was chosen by the World’s Greatest TV show as a World Class Logistics provider. According to Rick Holden, Vice President of Business Development for Riverside Logistics, “This will be a great opportunity to showcase our logistics services and Richmond, Virginia to the entire world! Riverside is fortunate to be positioned in a great location that provides easy access for global companies to distribute to the U.S. We encourage everyone to watch the Worlds Greatest television show Episode 234 September 26, 2016 and October 10, 2016. See the World’s Greatest Schedule for details (https://worldsgreatesttelevision.com/tv_schedule). We are poised to help provide logistic services for those companies that wish to expand here and are excited about the exposure this will bring to Riverside and the area.”
Richmond Virginia Distance to Major Cities

NEW-WG-logo-small-2-1About the “World’s Greatest”

“World’s Greatest!” is a fast-paced tour around the world featuring behind-the-scenes footage and interviews with some of the most amazing and unique companies, products, people, and travel destinations that the world has to offer!

Currently, in its 10th season of production, “World’s Greatest!” is a half-hour show that focuses on telling “the story behind the story.” Our goal is to provide our viewers with what we like to call “edutainment,” meaning that our show is not only educational and informative, but it’s also entertaining as well. Our goal is to provide our viewers with an in-depth look at the products they know and the products they never knew existed.

https://worldsgreatesttelevision.com

#WorldsGreatestTV

@WorldsGreatestTV

@how2Media

About Riverside Logistics…

Riverside Logistics provides a full complement of third party logistic services. Whether you’re moving product within the states or around the world, we can help by combining our warehouse and transportation solutions to offer the best value in the industry. Riverside’s experience is both broad and deep, including work in a variety of industries such as medical products (including sterile surgical products), food and beverages (including dry and refrigerated), building materials, retail and industrial packaging, metals, chemicals, fertilizers and minerals, automotive supply, timber and paper products and a wide variety of consumer products including, non-durables and durables.

 

Filed Under: News & Events Tagged With: Medical Distribution, Richmond Virginia, Riverside Logistics, Truck Brokerage, World Famous Logistics Companies, Worlds Greatest

June 2, 2016 by Logistics

Riverside Logistics Wins Golden Pallet Award at the 2016 RVA LogistXGames

Riverside Logisitics LogistXGames

Riverside Logistics and six other teams from the region’s top logistics firms competed in the second annual RVA LogistXGames on Thursday May 19, 2016. Again this year, the competition was friendly but competitive incorporating events similar to those performed daily in the logistics work environment. Teamwork, speed, experience and talent was the difference for Riverside who won two of the four events, and won the overall competition by only one point! The award…a golden pallet to proudly display in the warehouse at Riverside! The team consisted of 3 men and two women who demonstrated impressive skills in events like the Pallet Puzzle Sprint, the Pallet Jack Relay, the Pick/Pack Hurdle and the Box Put.

Michael Kenny, Director of Warehouse Operations, oversees Riverside’s three warehouses near the Richmond Airport (RIC). The warehouse employees handle over 60,000 shipments annually which equals approximately 1.8 million cases. In response to his employee’s win at the LogistXGames, Mr. Kenny said, “I was really proud to see the team representing Riverside Logistics squeak out a win against stiff competition. This event gave us and other logistics companies the opportunity to compete and show how well we work together, as we all do on a daily basis to get the job done for our customers.

Sponsored by CBREI/Richmond, the Community College Workforce Alliance (CCWA) and the Virginia Port Authority, the event is designed to showcase the talents of employees in this business sector, as well as emphasize the importance of logistics and distribution to the region. The proceeds support workforce development programs available through the Community College Workforce Alliance.

Congratulations to the other teams who competed! We look forward to next year!

 

Riverside Logistics LogistXGames 2016

Filed Under: News & Events Tagged With: Golden Pallet Award, Logistics Companies in Richmond, Richmond Virginia, Riverside Logistics, RVA LogistXGames, Virginia, Warehouse Companies

January 18, 2016 by Logistics

JIM DURFEE RE-JOINS RIVERSIDE LOGISTICS AS VICE PRESIDENT BUSINESS TRANSFORMATION

Jim DurfeeAfter a 9-year hiatus in manufacturing Logistics, Jim Durfee has re-joined Riverside Logistics as Vice President Business Transformation. In his new role, Jim will be instrumental in providing strategic planning guidance and infrastructure improvements that will allow Riverside to meet its long term growth projections.

Mr. Durfee has over 33 years of direct logistics experience in Retail, Manufacturing, 3PL and Carrier environments. He has held numerous positions responsible for managing the logistics operations and spend for these organizations. Most recently he was Director of Global Supply Chain Operations for MeadWestvaco Corporation, in Richmond, VA. Here he managed a centralized operation that controlled over $400 Million in transportation spend spanning 5 continents.

Jim has worked with numerous Transportation Management Software and has managed both in-sourced and out-sourced logistics groups. He is a licensed US Customs Broker, a TIA Certified Transportation Broker, a Certified Six Sigma Black Belt, a Licensed ICC Practitioner and a AST&L Certified Member (now APICS). He holds a BS in Business Logistics from Penn State and an MBA from Loyola University.

Filed Under: News & Events Tagged With: 3PL Logistics, AST&L Cerfified Member (Now APICS), Certified Six Sigma Black Belt, In-sourced Logistics Groups, Jim Durfee, Licensed US Customs Broker, Liscesed ICC Practitioner, Logistics Companies near the Port of Norfolk and Richmond, Loyola University Graduate, New People in Logistics, Out-Sourced Logistics Groups, Penn state Graduate, Richmond Virginia, Riverside Logisitics, TIA Certified Transportation Broker, Transportation Management Software Experts, Warehouse Companies on the East Coast

October 23, 2014 by Logistics

Small Package Dimensional Pricing Will Create Cost Increases for Shippers– Are you ready?

Small Package Dimensional Pricing Will Create Cost Increases for Shippers– Are you ready?
October 2014
By Rick Holden

Back in May of 2014 FedEx announced it would change its pricing model to apply dimensional weight pricing to its ground services. UPS followed suit with a similar announcement in June. Both companies new pricing will take effect at the end of 2014.

For years, UPS and FedEx have been working diligently to expand volumetric pricing – or dimensional weight pricing. Both companies have seen a substantial increase in e-commerce business that traditionally ship B to C (direct from the Business to Consumer).

Although this model has benefited the carriers with historic shipping volumes, it has also brought increased cost and a decrease in per package density. Many times, due to improper box selection, the carriers find themselves delivering boxes that are much larger than required for the safe delivery of a given product. When magnified across all shippers, this causes vehicles to fill up before they actually reach their physical weight capacity.

Starting at the end of 2014, all ground packages will now be subject to dimensional weight factors along with the potential for increased cost. The carriers’ position on this issue is to better align the rates that they charge with costs, which is influenced by BOTH the SIZE and WEIGHT of packages. In addition to creating additional revenue, the carriers hope that by subjecting all packages to dimensional weight billing that it will encourage shippers to reevaluate their packaging and ensure proper box selection when shipping.

From the carriers’ perspective, this change saves them from having to make additional capital expenditures in centers, hubs and vehicles. From the shipper’s perspective, it will be important to properly understand existing packaging characteristics and the potential negative impact while encouraging them to implement a proactive plan to mitigate any increases.

Lost Profits

A critical issue for any company to understand is that the change to dimensional weight pricing has the potential to increase UPS Shipping Charge Correction fees or FedEx “audited” charges. Unfortunately, many shippers simply weigh their packages and do not enter the dimensions because it’s less labor intensive. Moving forward, if shippers do not enter the dimensions at the time of manifest, they will receive out of week billing adjustments and potentially lost profit. This is especially true if the shipper passes the shipping cost along to the consignee. By not capturing the true dimensional weight, shippers will only pass along a portion of the total cost. Not only will they lose profit, but it will become very challenging to properly understand total landed cost for a particular order.

Dimensional Weight Basics

In its simplest form, dimensional weight is determined by using the following calculation: Length x Width x Height of the box divided by the applicable dimensional factor. Unless a shipper’s agreement calls for a modified dimensional divisor, then UPS and FedEx both use 166 domestically and 139 for international. When performing this calculation, fractions of an inch are either rounded up or down. If the measurement is one-half inch or greater, then it is rounded up. If the measurement is less than one-half inch, then it is rounded down. Shippers must be sure to measure the outside box dimensions, as some manufacturers quote the inside box dimensions. Also, shippers should be aware that as a package moves through the small package environment, that these packages may “bulge” and their dimensions may change during transit, which may result in adjusted charges.

Dimensional Weight Best Practices

As soon as possible, it will be important for companies to evaluate their current packaging practices and address the following areas:

• Box sizes vs. what is being shipped – Reduce the empty space in the box.
• Use stronger boxes to eliminate bulging.
• Dunnage – Use less or more effective packing materials.
• Dimensional Scanners – To accurately record dimensions at the time of manifest to prevent out of week shipping charge corrections.

As soon as possible evaluate your agreement with FedEx and UPS

• Look at your modifying your Dimensional Divisor.
• Cubic Threshold changes with a phased in approach.
• Grandfathering existing contract language concerning cubic thresholds.
• Offsetting incentives

As soon as possible look at how your company can utilize alternative carriers

• Look at regional smaller carriers
• Parcel/Postal Hybrid Solutions
• USPS

At Riverside we work with our clients to keep them abreast of the market changes that will affect their business and we continually work to match the best value transportation with the different client shipping needs.

Filed Under: News & Events Tagged With: Dimensional Scanners, dimensional weight pricing, Dunnage - Use less or more effective packing materials., East Coast, FedEx “audited” charges, Parcel/Postal Hybrid Solutions, Richmond International Airport, Richmond Virginia, Riverside Logistics, Shippers near the airport, Small Package Dimensional Pricing, UPS and FedEx, UPS Shipping Charge Correction fees, volumetric pricing – or dimensional weight pricing, Warehouses near the Airport

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