CHAPTER 2: ANALYZING AND EVALUATING SEA FREIGHT
2.1 Overview of E.I Freight Forwarding Co., Ltd
2.1.1.1 The developing and history of Expeditors
Expeditor is a global logistics company headquartered in Seattle, Washington. As a Fortune 500 company, Expeditors has been on 180 countries with over 200 offices. The first Expeditors office was registered in 1979 in Seattle under the name Expeditors International of Washington, Inc.
In 1981, Peter J.Rose, James L.K.Wang and Glenn M.Alger joined in the company. Expeditors became one of the largest U.S. based airfreight of goods and opened seven offices around the world.
In 1985, Expeditors expanded into ocean business with the acquisition of Pac Bridge, a major non-vessel ocean common carrier (NVOCC). In 1988, Expeditors had twenty-four offices all over the world and Peter J.Rose assumed the title of President and CEO.
In 1991, EXCEL program (Expeditors Commitment to Excellence and Leadership) was built. The purpose of this program was to make customer when got 100% of satisfaction when using Expeditors’s services.
In 1993, Expeditors’ Cargo Management System (E.CMS) was built. With this program, data of cargo consolidation was transmitted automatically.
In 1995, with an increasingly large scale – 96 offices, Expedtiors launched a Cargo Insurance division and set up website www.expeditors.com.
15 In 2004, a number of milestones mark Expeditors’s 25th year: it was the first year with more than $3 billion in gross revenues ($3,317,499,000); the number of employees tops 9,000; and net earnings reach $156,126,000.
In 2005, Expeditors was noted by Forbes as the Best Managed Transportation Company. The Wall Street Journal listed Expeditors as #1 in their shareholder scorecard for Delivery Services, above both UPS and FedEx.
In 2006, entering the Fortune 500 list for the first time with $4.6 billion in revenue, Expeditors also stood out as Fortune's #1 Most Admired Company in our industry.
2010 was considered the best year ever as Expeditors approached six billion dollars in revenue. The main reason for such a successful year was predicated on one large factor: the no layoff policy. Protecting our greatest assets proved invaluable, as those same people are the ones delivering world-class customer service day after day. Without them, Expeditors’s success was not possible.
At present, Expeditor employs over 13,000-trained professionals in a worldwide network of over 250 locations across six continents. Expeditors satisfies the increasingly sophisticated needs of international trade through customized solutions and seamless, integrated information systems. Our services include air and ocean freight consolidation and forwarding, vendor consolidation, customs clearance, cargo insurance, distribution and other value added logistics services.
2.1.1.2 Mission statement
“To set the standard for excellence in global logistics through total commitment to quality in people and customer service, with superior financial results.”
Expeditors' promise, "You'd be surprised how far we'll go for you." is not mere hype; it is company’s commitment to go beyond the expectations of what companies need from a global logistics provider. Through organic growth, not acquisition, Expeditors gives clients and employees peace of mind knowing that merger pains will not disrupt their day-to-day business.
The company’s culture is about exceeding customers' expectations and providing a place for our employees to make a career. It is noticeable that our people just care more. They move faster, work harder and are better rewarded than our competition.
Expeditors’ offices are neat, organized and set up in accordance with its quality standards. It is a simple philosophy that works - we will do all we can to protect our culture.
Customer service has always been company’s focus and Expeditors takes great pride in ensuring that customers receive the same level of consistent service
16 everywhere in the world. The company does this by staying true to its core assets:
people, systems, culture and customers.
2.1.1.3 Some outstanding awards
In 2005
- Expeditors was ranked as one of 100 3PL service provider.
- Expeditors is placed into one of 25 logistics service provider by the magazine Global Logistics and Supply Chain Strategies.
In 2006
- Expeditors was on the first place of popular transportation and logistics company list that was voted by Fortune Magazine.
- Expeditors entered the Fortune 500 list of U.S.A.
In 2007, 2008, 2009
- Expeditors was awarded Quest for Quality prize for freight forwarders and Third-Party Logistics by Logistics Management.
2.1.2 General introduction to E.I branch in Vietnam
EI Freight Forwarding Co., Ltd. is an agent of Expeditors International in Vietnam. From the start, E.I has foreseen the importance of commercial activity between Asian and others all over the world. Finding the potential of Vietnam out, the EI Company has operated three agents in Vietnam: EI Freight Forwarding Co., Ltd. in Ho Chi Minh City in 2000, its branch in Hanoi, which was established in Mar, 2001 and another branch in Da Nang in Aug, 2004.
The first E.I’s head office was located at 211 Nguyen Van Troi, Ward 11, Phu Nhuan District, Ho Chi Minh City. E.I Company then moved to new place at floor 5, E.Town building, 346 Cong Hoa, Ward 13, Tan Binh District, and a new office was set up at floor 4 of its building. For the expansion and development of business, currently, is situated at floor 8, Flemington building, 182 Le Dai Hanh, Ward 15, District 11.
More information about EI Freight Forwarding Co., Ltd.
Company name: E.I freight forwarding Co., Ltd.
Abbreviated name: Expeditors
Address: Floor 8, Flemington building, 182 Le Dai Hanh, Ward 15, Dist. 11.
Phone number: +84 8 3962 1868
Fax: +84 8 3962 186
Website: www.expeditors.com
Establishment license No. 4102000170 was issued on 02.02.2000 by the Department of Planning and Investment of Ho Chi Minh City.
17
Authorized capital: 500 000 000 VND
Type of company: Limited Liability Company
Over 10 years of operation in Vietnam counting from the time of its establishment, the company has had a great rapid and stable development. The company today is regarded to be one of the top companies in the field of delivery of goods.