Purchasing and Supply Chain Management + Freight Broker/Agent Training

Efficiency is a primary concern for most businesses. As businesses place greater emphasis on reducing costs and innovating processes, the demand for knowledgeable logistics professionals increases. This course combines two essential career trainings for those interested in entering the logistics sector. In learning supply chain management and freight brokerage, you will have a holistic understanding of how these roles contribute to logistics. The Purchasing and Supply Chain Management course will give you an integrated approach to planning, acquisition, flow, and distribution, from raw materials to finished products.

Topics such as developing a corporate culture, working successfully with teams, developing and implementing successful people management strategies, and workflow and performance management will be explored in this course. The art of negotiation is also covered in great detail, giving you a foundation for negotiating with great awareness and effectiveness. Additionally, you will learn how individuals become part of trucking, freight logistics, and transportation industries as licensed freight brokers or as freight broker agents. From licensing and operations, to sales and marketing, you'll learn the basics of how a domestic freight brokerage or agency is managed within the United States.

What you will learn

• The basics of freight brokering.
• How to use the documents and software common to the industry.
• All about transportation law, insurance, and agreements and contracts.
• How to set up and run your business, including recordkeeping, determining quotes, and negotiation and marketing techniques.
• Be familiar with the basics of purchasing and the purchasing environment in the private sector
• Gain an understanding of the various approaches, tools, and strategies used in negotiations
• Learn the fundamentals of the budgeting process and managing the process in an organization
• Become aware of the basic subjects in the field of price and cost analysis from a purchasing and production perspective

How you will benefit

• Freight broker school can provide you with the resources you need to obtain your brokerage licensing/authority from the federal government.
• Graduates will be able to participate in our weekly job opportunity event called Resource Friday—read more about it below.
• Develop a deep understanding of the art of negotiation, which will help you in creating contracts with clients and potential employers
• Learn the communication skills necessary to be an effective project and supply chain manager
• Gain valuable project management experience and work toward receiving your PMI credential
• Know how to efficiently manage both projects and people, which will enable you to thrive in any professional managerial setting

Purchasing and Supply Chain Management

I. Essentials of Purchasing
A. Introduction and Overview
B. Interdependencies of Purchasing
C. Purchasing and Financial Statements
D. Purchasing Administration
E. Global Sourcing
F. Regulatory Agencies
G. Good Faith and Conclusion
II. The Supply Chain Process
A. Introduction
B. Acquisition of Goods and Services
C. Quantity and Demand
D. Planning Process
E. Material Planning Tools
F. Flow of Materials
G. Summary
III. Management Essentials
A. Introduction and Components of a Successful Manager
B. Organizational Culture and Change
C. Power and Perceptions
D. Leadership and Risk
E. Strategies, Decision Making, Empowerment, and Accountability
F. Customer Relationship Management and Quality
G. Human Resource Management
H. Financial Accountability
I. Summary
IV. Budgeting Essentials
A. Introduction
B. The Concept of Budgeting
C. Activity-based Budgeting
D. Factors to Consider in Budgeting
E. Production Planning
F. Inventory
G. Sample Budget and Summary
V. The Procurement Process
A. Introduction and Overview
B. Elements of Supplier Selection
C. Supplier Evaluation
D. The Bidding Process
E. Summary of the Procurement Process
VI. Supplier Contracting
A. Introduction
B. General Contract Principles
C. General Contract Principles Continued
D. Contract Drafting
E. Contract Drafting Continued
F. Types of Purchasing Contracts
G. Agency and Summary
VII. Persuasive Communication
A. Introduction
B. Fundamentals of Communication
C. Knowing the Audience
D. The Power of Listening
E. Credibility of the Speaker
F. Evidence in Persuasion
G. Emotion in Persuasion
H. Organizing the Argument
I. Summary
VIII. Negotiating Strategies
A. Introduction
B. Steps in Negotiating
C. Tools in Negotiatingv
D. Types of Negotiations
E. Personality Types
F. Preparing for Negotiations
G. BATNA and Summary
IX. Price and Cost Analysis
A. Introduction
B. Pricing Evaluation
C. Use of Data
D. Strategic Cost Analysis
E. Timing and Outsourcing
F. Summary
X. Legal Aspects of Contracts
A. Introduction and Overview
B. What is a Contract?
C. Elements of a Contract
D. Duties and Obligations
E. What is the Deal?
F. Legal Representation
G. Good Faith and Conclusion

Freight Broker

I. The Basics of Freight Brokering
Job duties, qualities, and skills of an effective freight broker and a freight broker agent

II. Setting Up Your Business and Office
Steps needed to launch a business and set up an office

III. Setting Goals and Developing Your Corporate Identity
Evaluate business goals and mission statements

IV. Setting Up Your Shipper Packet and Your Carrier Packet
Documents to send to shippers and carriers

V. Operations and Using Operations Software
Forms, logs, and broker software that work best for business; how to avoid or manage day-to-day problems that freight brokers face

VI. Types of Freight and Exploring Niche Markets
Differentiate between the types of freight and the types of niche markets available

VII. Transportation Law
Transportation law most affect business as a broker or agent, and why they are important to operations

VIII. Broker-Carrier Contracts
How contracts protect brokers and carriers

IX. Broker-Shipper Agreements
Components of an effective broker-shipper agreement

X. Insurance for Carriers and Brokers
Insurance policies and forms essential for carriers and brokers

XI. Recordkeeping, Accounting, and Financial Management
Different processes and records encountered as a broker freight

XII. Determining Your Rate Quotes
Rate quotes that are based on relevant information

XIII. Carrier Relations and Solutions for Success
Situations from a carrier's point of view

XIV. Sales and Profitability
Sales techniques and results as part of sales success

XV. Advanced Marketing
Marketing efforts that will be beneficial for business

XVI. Develop Your Negotiation Skills
Negotiation skills from first real sales calls

Requirements:

Hardware Requirements:

• This course can be taken on either a PC or Mac.

Software Requirements:

• PC: Windows 8 or newer.
• Mac: OS X Snow Leopard 10.6 or later.
• Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
• Software must be installed and fully operational before the course begins.
• Adobe Acrobat Reader. Download the Acrobat Reader.

Other:

• Email capabilities and access to a personal email account.

Instructional Material Requirements:

The instructional materials required for this course are included in enrollment. The following textbooks will be shipped to you approximately 7-10 business days after enrollment:

• Essentials of Supply Chain Management
• Essential Manager's Handbook

There are no specific prerequisites for this program. However, basic computer skills, including the ability to navigate the Internet and use e-mail, are required.

Can I register for a course if I am an international student?

Yes, ed2go courses are completely online. However, keep in mind that not all certifying bodies or industry-specific certifications are recognized internationally. Please review your country's regulations prior to enrolling in courses that prepare for certification.

Will this course prepare me for a project management certification?

No.

When can I start the course?

This course is open enrollment, so you can register and start the course as soon as you are ready. Access to your course can take 24-48 business hours.

How long does it take to complete this course?

This course is self-paced and open enrollment, so you can start when you want and finish at your own pace. When you register, you'll receive (12) months to complete the course.

What if I don't have enough time to complete my course within the time frame provided?

The time allotted for course completion has been calculated based on the number of course hours. However, if you are unable to complete the course, contact your Student Advisor to help you work out a suitable completion date. Please note that an extension fee may be charged.

What kind of support will I receive?

You may be assigned with an instructor or team of industry experts for one-on-one course interaction. Your support will be available (via e-mail) to answer any questions you may have and to provide feedback on your performance. All of our instructors are successful working professionals in the fields in which they teach. You will be assigned to an Advisor for academic support.

What happens when I complete the course?

Upon successful completion of the course, you will be awarded a Certificate of Completion.

Am I guaranteed a job?

This course will provide you with the skills you need to obtain an entry-level position in most cases. Potential students should always do research on the job market in their area before registering.

Can I get financial assistance?

ed2go courses are non-credit, so they do not qualify for federal aid, FAFSA and Pell Grant. In some states, vocational rehab or workforce development boards will pay for qualified students to take our courses. Additionally, some students may qualify for financial assistance when they enroll, if they meet certain requirements. Financing is available from select schools. Learn more: Click here

How can I get more information about this course?

If you have questions that are not answered on our website, representatives are available via LIVE chat. You can also call us at 1-877-221-5151 during regular business hours to have your questions promptly answered. If you are visiting us during non-business hours, please send us a question using the "Contact Us" form.

What is a Freight Broker?

A freight broker is legally a property broker, which is the term established by the Federal Motor Carrier Safety Administration (FMCSA), a division of the United States Department of Transportation. It describes licensed individuals or corporations that help make a shipper and an authorized motor carrier successful in the transporting of freight.

What are the requirements to be a Freight Broker?

There are four legal documents needed to operate as a freight broker. They are:

1. A Broker's Authority, available through the FMCSA for a $300 fee. You fill out Form OP-1 and file for your authority to operate as a broker.
2. A Surety Bond or Trust Fund, which you can obtain from a bank or bonding company. The cost varies depending on your personal credit. You're required to carry a $75,000 bond or trust. The form filed with this is BMC-84 or BMC-85.
3. Processing Agent, which runs approximately $50, with form BOC-3.
4. File a Unified Carrier Registration (UCR)

Is this a growing field? Is it in demand?

As of this writing, there are approximately 15,000 licensed transportation brokers in the nation, but a large number are inactive. This is still a relatively new industry, as there were only around 70 brokers in 1970. It's estimated that freight brokers accounted for over 10% of the shipping industry, or roughly $40 billion out of $400 billion, in revenues. A recent article in the Wall Street Journal cited freight brokerage and logistics as the fastest- growing sector of the transportation industry.

Is there another way to get into the industry without having to get a bond and license?

Yes. You can open a freight agency or become a freight broker agent with little risk and without obtaining your own licensing. In that case, you'd operate as an agent, under the umbrella of another broker's authority, and you would do a split with the broker on your profits.

What equipment will I need to get started?

If you want to open a freight brokerage or agency, you'll need a computer with high-speed Internet, a fax machine, a telephone, and phone service with inexpensive unlimited long distance. If you're opening a brokerage, you'll also most likely want to purchase a transportation software program. If you're an agent, you'll use your broker's software system.

Is this a job that I can do from home?

Absolutely. Most agents and many brokers work out of their home office.

How long will it take for my business to become profitable?

It will take some time to build up your customer database, just as with any business that you start. Typically it can take three to six months of disciplined work to show a substantial profit. Sometimes it takes much less time, sometimes more. But once you begin securing customers, they normally have residual shipping, so the sale repeats itself over and over. Your level of success depends on many factors, such as your level of determination, your tenacity, and your genuine desire to help your customers succeed.

How much money can I make as a freight broker or agent?

Again, your individual earnings will depend on your personal abilities and how determined you are to succeed. As a full-time broker or agent, you can make from $40,000 to well over $200,000 or more. The potential is virtually unlimited as you grow.

How do I find customers?

In the program, we go into detail on this subject, showing you many different tools for locating your shippers, such as publications, reference sources, and Internet sources.

How do I decide whether to start my own brokerage or become an agent?

There are many factors in making this decision, which we go over in detail during the program. Three major factors are money, time, and experience, among others. Either way, you'll need three to six months' worth of living expenses or a supplemental income while you establish your business. If you open your own brokerage, you'll also need additional start-up money for cash flow and start-up costs.