How To Calculate CIF And FOB Costs On The Move
If you work in the shipping and logistics sector, you’ll probably find that you frequently have to calculate the cost, insurance and freight (CIF) and Free On Board (FOB) prices when you’re on the move and trying to make accurate negotiations.
Previously, this may have meant you spending time working these figures out yourself. Thanks to advancements in business automation, it’s now become extremely easy to get the figures you need, instantly.
What are CIF costs?
The CIF price is how much goods cost at the point where they’re being delivered at the border of the importing country.
This figure is the price before any import duties, taxes, or transport margins have been added.
What are FOB costs?
FOB costs are where the seller has quoted a price where the shipping costs to the nearest port has already been factored in.
ImportBuyer from Blue Alligator
At Blue Alligator, we introduced our ImportBuyer tool to be the perfect companion to take with you on your buying trips.
This platform is essential to any buyer who’s looking to calculate CIF and FOB costs on the go.
It uses a similar integration to what you may already be familiar with if you’ve used SalesPresenter. You can link your back-office system so that you can sell on the same day and increase your sales.
We know that when you’re importing and delivering goods, you need access to the most up-to-date costs to make decisions. ImportBuyer can collate new product and supplier information instantly and get all the facts and figures you need on the move. It also works offline so it doesn’t matter where you are!
We’ve made it so that any buyer can get a precise and accurate insight into opposing supplier prices, so they know they’re always getting the best deals when it comes to FOB and CIF costs.
Raise purchase orders quickly
When you’ve got a good deal, you want to raise the purchase order and get it back to the office quickly, and with ImportBuyer you can do just that.
Check back to see your previous purchases and history to help in negotiations to settle on a final price.