When was the last time you went to a bank to address your transportation needs? It may sound like a silly question, but in reality, banks are playing an increasing role in transportation and logistics.

You wouldn’t go to a 3PL to open up a savings account, yet chemical companies trust their freight payment needs to banks like JP Morgan, Cass and US Bank. Banks may be good at paying invoices but their focus is primarily on transactions, hence they lack the experience and domain knowledge necessary to help companies maximize savings on their transportation expenditures. This problem is compounded in the chemical industry where transportation in many cases involves multiple modes.

If there is one thing the current banking crisis should have taught us is that banks should stick to what they do best. Sooner or later, the banks will unceremoniously exit these services without regard to the impact to the businesses they serve.

Remember, being a good dentist does not qualify one to be a dental surgeon. Processing chemical companies’ freight is not the same as processing a telephone bill, utilitiy or a truckload of tomatoes from the local farmer. Chemical companies should turn to qualified transportation and logistics partners with intermodal capabilities to handle their freight payment and associated needs. In doing so, they’ll realize maximum savings on their transportation expenditures and may just avoid being part of the next banking crisis.
For more discussions on logistic issues, go to blog.chemlogix.com/

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