The client urgently needed to redesign its ocean freight strategy amid the COVID-19 pandemic. Armed with the latest market insight and supplier relationship management from Gartner, the client negotiated $1.5 million reduction in rates across its nine carriers.
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Mission-critical priority
Our client (a diversified manufacturer that designs and makes various engineered components and products found in most homes and automobiles) urgently needed to redesign its ocean freight strategy amid the COVID-19 pandemic.
How Gartner helped
Gartner’s top logistics analyst equipped the logistics leader at the client organization with:
- Timely insights on the direction of rates in freight, gleaned from Gartner research on supply chain management during COVID-19. These insights were critical input for the new ocean freight strategy.
- Proven techniques for renegotiation contracts, drawn from the analyst’s experience working with client’s peers and from Gartner’s canon of supplier relationship management best practices.
Business impact
The COVID-19 pandemic caused ocean freight rates to triple in 2020, but armed with Gartner insights and guidance, the client negotiated a $1.5 million reduction in rates across its nine carriers.
Industry:
Diversified Manufacturing
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