One of the many risks associated with international supply chain and logistics management is dealing with currency fluctuations.
Foreign exchange rates can fluctuate over the course of an exhibition, the rate you base your quotation upon can change dramatically throughout the shipping process and moving your exhibition goods from one country to another involves trading with various currencies.
As logistics providers, we cannot afford to ignore the risks associated with currency fluctuations, which can ultimately impact on our costs and those of our clients. Many forwarders are being forced to address exchange rate fluctuations over time by adding a Currency Adjustment Factor (CAF), or implementing a currency surcharge into tariffs, to minimise the impact.
At Premier, we strive to negotiate competitive rates with our suppliers and international agents in advance. However, we also ensure that our clients are aware that our prices are based on current rates of freight, fuel & currency exchange and any significant variation between the time we submit our quotation and the scheduled work date may be reflected in our final invoice.
With our experience in the market, and local knowledge provided by our agents, every effort is made to plan for currency fluctuations, along with the numerous other factors affecting costs and the time required to ensure our clients’ shipments are delivered on schedule and within budget.