Expanding into international markets can be challenging for several reasons, and it mostly all comes down to logistics.
Mapping out your business forces you to seriously consider all the areas of how your company operates and not just the flashy parts of your business such as “front line sales”.
The meticulous details like operations, funding and logistics are essential to the success. If they’re not all taken into account then failure might be in the offing.
Logistical factors have always played a central role in business. Logistics can spell the difference between success and failure. It can also hold the key to accessing new markets. In a globalised economy, companies are always looking to expand their customer base and maximise revenue by entering new markets.
However, this does require a well-planned and efficient logistics strategy to overcome the challenges of distance, language barriers, cultural differences and regulations that vary from country to country.
Open up new markets
One of the most important aspects of logistics is transportation and distribution. With the right logistics strategy, businesses can transport their products to new markets quickly and efficiently.
This can be achieved by selecting the appropriate mode of transportation, such as air, sea, or land, and partnering with reliable logistics providers who have a good understanding of the local market conditions.
By optimising transportation and distribution, businesses can reduce lead times, lower shipping costs, and improve customer satisfaction, which can help them access new markets.
Entering markets such as the US & Asia can be difficult for UK businesses. Having experts, such as the Baxter Freight Navigate Team, on hand can make internationalisation easier. Playdale are a fond customer of Baxter Freight and needed assistance shipping their inclusive roundabout, the Orbit, into the USA & Asia. The knowledge of how to do this efficiently and cost effectively was why we were chosen to handle all aspects of the logistics processes. Read more about how we assist Playdale enter new markets here.
Location, location, location
Another key aspect of logistics is warehousing and inventory management. When businesses expand into new markets, they need to ensure that they have adequate inventory levels to meet customer demand. This requires a robust warehousing and inventory management system that can track inventory levels, monitor order fulfilment, and ensure timely delivery.
Another way a location can assist with new markets is distribution hubs. The partnership we have with DHL has allowed us to have access to speedy delivery into 200 DHL hubs all across Europe ready for redistribution and allow for track and trace from origin to destination.
By partnering with logistics providers that have a network of warehouses and distribution centres in different locations, businesses can reduce their shipping costs, minimise the risk of stockouts, and improve their supply chain efficiency, which can help them access new markets.
Avoid costly delays
When businesses expand into new markets, they must comply with local regulations and customs procedures. This can be a complex and time-consuming process, especially for businesses that are unfamiliar with the local customs and regulations. Logistics providers that specialise in international trade can help businesses navigate the complexities of customs and compliance by providing guidance on documentation requirements, tariff classifications, and import/export regulations.
Our Solutions Consultants, Account Managers and Customs Team are here to help you find the right route to move your goods through borders. The in-house customs team are available 24/7 to make sure that you are armed with everything you need to clear customs in a timely manner. Pairing this with our commitment to being an Authorised Economic Operator means that goods shipped with us receive fewer checks at customs and priority treatment at borders.
By partnering with logistics providers that have a deep understanding of local regulations, businesses can avoid costly delays and penalties, which can help them access new markets, making customs your competitive advantage.
Data is king
Finally, technology and data analytics play an important role in enabling businesses to access new markets. Logistics providers that leverage technology such as tracking systems, route optimisation, and predictive analytics can provide businesses with real-time visibility into their supply chain operations.
This can help businesses make data-driven decisions to optimise their logistics strategy, reduce costs, and improve their customer service. By partnering with logistics providers that have advanced technology and data analytics capabilities, businesses can gain a competitive advantage, which can help them access new markets.
Pick your partner wisely
In conclusion, logistics plays a crucial role in enabling businesses to access new markets. By optimising transportation and distribution, warehousing and inventory management, customs and compliance, and leveraging technology and data analytics, businesses can overcome the challenges of expanding into new markets.
By partnering with logistics providers that have a deep understanding of local market conditions and regulations, businesses can access new markets with confidence, expand their customer base, and increase their revenue.
Get in touch with Baxter Freight to see how we can help you to access international markets and take your business to the next level.