Prime Fast Logistics
The company is an Ontario-based trucking company and auto parts seller that caters to commercial, industrial and retail customers.
Prime Fast Logistics will serve the following market segments:
• Raw Material Suppliers ship materials to manufacturers. These materials generally do not require refrigeration or temperature control. Manufacturers maintain some on-site storage for these supplies and generally have some leeway as to when deliveries can be received, except when projections are mistaken and supplies drop low. Packaging supplies also must be shipped to manufacturers and are included in this group.
• Manufacturers often outsource the distribution of their goods to businesses that specialize in serving one the type of retailer or business. Their packaged goods are often shipped to only one wholesaler/distributor, creating a regular business in shipping between the two locations.
• Wholesalers/Distributors that serve large retailers assemble truckloads of goods from the many manufacturers they serve. While they often have their own trucks or distribution means, some of these firms do not either because they are smaller or because they attempt to limit their investment in assets. Others may require additional trucking support when they are operating at capacity but not prepared to expand their shipping capacity.
2nd address: Prime Fast Logistics compete with existing trucking companies and auto part retailers located in Hamilton and nearby areas.
It is increasingly important for operators in this industry to invest in business-to-business e-commerce technology and online ordering systems, since their customers may install or already have these systems in place.
Barcode technology is used extensively to sort small freight and parcels. The latest technology in radio-frequency identification (RFID) is coupled with modern advances in two-dimensional barcode (light wave) technology. Previously, RFID has been used for basic tasks such as the evaluation of postal performance, but there have been larger innovations in RFID technology in the industry. RFID technology is a wireless link to identify objects or people, which provides greater efficiency and fewer human errors. Electronic tags are attached to an item and then scanned with an RFID reader. RFID tags are much more versatile than bar codes. RFID tags can store larger amounts of information and can be updated at any point of travel. Additionally, RFID tags can be scanned even if the tag is on the inside of a package. This technology has become less expensive in recent years and it is expected to be more prevalent over the next 10 years.
Prime Fast Logistics will offer the following services for businesses in the Ontario:
• Pick-up and delivery of goods
• Both “less than a truck load” and “truck load” services
• Online tracking information detailing the location of all GPS-tagged trucks and the status of deliveries, including expected arrival times for pick-up or delivery
• Phone support for all customer questions, delivery changes, and scheduling
• Preferred client services including online accounts, regular schedules of shipping, or linking of client order information directly to Prime Fast Logistics’s scheduling software to allow for seamless logistics
The company primarily generates revenues from the following:
1) Trucking Services
2) Sale of Auto Parts