Is there anything scarier than a bicycle traffic jam in China? For Kent International, an importer and one of the largest bike companies in the world, seeing their containers get jammed up has serious ramifications. The company’s cargo needs to be moved
Kent’s high profile clients—Walmart, Target, Amazon
Kids everywhere just want to ride their bicycles, and Kent just wants a solid enforceable contract they can rely on. Through the NYSHEX Forward™ contract, NYSHEX has satisfied on both these fronts. NYSHEX has even enabled Kent to go a step further. By coordinating with their origin office and manufacturer, Kent and NYSHEX identified a fixed volume amount they wanted to allocate to the exchange on a weekly basis. That allows Kent to bring a higher level of certainty to their supply chain than they’ve ever had before.
NYSHEX provides Kent with the reliability they demand—and it’s also helped them discover new flexibility that’s streamlining their contracting process. Marilyn Liu, Kent’s shipping
With the NYSHEX Forward™ contract, Kent now has solid contracts that they know will be honored. NYSHEX has removed the worry about their source of supply. It’s also enabled them to avoid having to resort to expensive airfreight as a last resort. On the exchange, they can buy contracts from two weeks to six months out, which gives them a flexible, guaranteed option to meet demand. Having found a proven solution for contract enforceability, Kent has now made NYSHEX Forward contracts part of their yearly planning to supplement to their long-term service agreements and spot buys.
The beauty of NYSHEX is that we have solid contracts that will be signed electronically and we no longer have to worry about the source of supply. That is a real game changer for us and for the industry.