AR7 1321 Kyle Duran

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Central Texas College *

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1321

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Economics

Date

Nov 24, 2024

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docx

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Uploaded by Simbi493

Learning objective Identify the factors that contribute to freight expenses. Summary of the article Freight expenses are key charges in wholesale, retail or even manufacturing business. The costs of freight are contributed by various factors such as the price of fuel, the volume pf goods to be shipped, and the loyalty of customers and the capacity of the vehicles used in shipping (Demir, E., Huang, Y., Scholts, S., & Van Woensel, T., 2015). Besides, the regulations set by governments and the labor market also determines the freight costs incurred in any form of business. Analysis The article generally supports the text. This is because it highlights that besides price, the success of any level of business also depends on the partners involved in transportation. The competition and a rise in the wages among drivers involved in shipments usually impacts the freight costs upwardly. This is illustrated by the fact that carriers mostly struggle to recruit new drivers once the older once retire. Besides, for reliability purpose the new recruits have to offer them some short courses to sharpen their skills. Moreover, understanding the level of services is also crucial since businesses with consistent customers are also situated to receive rates of their preference (Demir, 2015). These are essential factors which also significantly contributes to the transportation costs and which should not be overlooked. Relation to personal experience or observation I came to understand the various factors which contributes to freight costs when I worked in wholesale shop whereby we could deliver books to numerous retail shops. During that time I only recognized the price of fuel used in shipping the books and the existing government

regulations as the factors that contributed to the freight charges. However, this article has given me an in-depth understanding of how the partners involved in the business and their levels of loyalty also contributed to the reliability and success of the business.

References Demir, E., Huang, Y., Scholts, S., & Van Woensel, T. (2015). A selected review on the negative externalities of the freight transportation: Modeling and pricing. Transportation research part E: Logistics and transportation review, 77, 95-114. https://doi.org/10.1016/j.tre.2015.02.020

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