Shipping a product

- [Instructor] A friend once told me this great story about shipping a part. He was working on an oil rig that broke down. The rig was costing them $200,000 a day and the part they needed only cost $100. But to get it, they had to ship that part halfway across the world, and then charter a helicopter to deliver it. That's a pretty extreme example. But now that you're working in a supply chain, you're probably going to have to ship some things too. And choosing the best way to ship something can be tricky. So let's start by breaking down some terms. Anything that you ship is called freight, the way that you ship it is called the mode, and you, well, you are the shipper. The most common modes for shipping freight are on airplanes, trains, trucks, and ships. There are different names for the companies that provide transportation services. Sometimes they're called carriers, other times they're called transportation providers, and you'll often hear them called third-party logistics…