Expeditors International of Washington, Inc. - Company Research Report

Company Overview

Name: Expeditors International of Washington, Inc.

Mission: To set the standard for excellence in global logistics through total commitment to quality in people and customer service, with superior financial results.

Founded: 1979

Founders: John Kaiser, Peter Rose, James Wang, Kevin Walsh, Hank Wong, George Ho, Robert Chiarito, and Glenn Alger.

Key People:

Jeffrey S. Musser, President and CEO

Timothy C. Barber, Executive Vice President, Europe

Blake R. Bell, President, Global Services

Kelly Blacker, President, Global Products

Benjamin G. Clark, Senior Vice President, Chief Strategy Officer

Many other senior executives leading various global operations.

Headquarters: Bellevue, Washington, USA

Number of Employees: Over 18,000

Revenue: In 2023, the company reported over $9 billion in revenue.

What the Company is Known For: Expeditors is a Fortune 500 service-based logistics company known for generating highly optimized and customized supply chain solutions unified by technology systems and a global network spanning over 340+ locations in over 100 countries.

Products

Expeditors offers a comprehensive suite of products designed to provide customized logistics solutions:

Supply Chain Solutions: Comprehensive support for an array of industries and supply chain challenges.

Transportation: Solutions that involve efficient air and ocean freight forwarding.

Customs and Compliance: Expert knowledge and expertise in navigating customs processes and compliance measures.

Warehousing and Distribution: High-efficiency facilities offering valuable inventory management solutions.

High-Level Description of Products

Tradewin: A trade consulting service to optimize international trade processes.

ECIB (Expeditors Cargo Insurance Brokers): Provides cargo insurance solutions to manage risks in global transportation.

Cargo Signal: Advanced sensor-based logistics for real-time cargo visibility and control.

Carrier Allocation: Ocean forecasting and planning to optimize logistics efficiency.

Tradeflow: A trade management software solution.

Key Features of Products

Customs Brokerage: Leveraging a network of over 3,000 customs employees for efficient customs processing.

Sensor-Based Logistics: Real-time visibility of cargo with IoT sensors tracking location and status.

Delivery Management: Combines data and dedicated teams to ensure timely shipment delivery.

Integrated Technology Systems: Provides consistent, seamless service across a global network.

Sustainable Solutions: Tailors logistics solutions for greener supply chain transformation.

Recent Developments

Recent Developments in the Company: Expeditors remains adaptable and resilient, exceeding $10 billion in revenue in recent challenging market conditions. The company has continued to invest in technology solutions and expanded its digital services.

New Products Launched: Launched Cargo Signal and Tradeflow, enhancing capabilities in digital logistics solutions and trade management software.

New Features Added to Existing Products: Introduced a cutting-edge Carrier Allocation platform, providing an advanced level of forecasting and planning to revolutionize supply chains and transportation efficiency.

New Partnerships: Collaborated with Walmart to revolutionize supply chains through innovative solutions like the Carrier Allocation platform.

This report captures the essential facets of Expeditors International of Washington, Inc., providing insights into their services, leadership, and strategic growth trajectory in the global logistics landscape.