Transportation Cost Risk MitigationFinding ways to move goods from one point to another at a reasonable cost and within an acceptable time frame is today a growing challenge for global businesses. The costs and risks associated with transportation are increasing with the advent of globalization and sourcing from low-cost countries. Even for companies with only local operations, they must supply their products to different regions of a country, which increases costs and risks. Since the cost of gasoline tends to increase, a high level of efficiency in transportation is necessary to reduce the costs involved and the risks associated with the costs. Cost concepts in transportation include economic, social and accounting costs. The risks and costs involved increase if different modes of transport are used. There is concern that many companies fail to think strategically when using multimodal transportation services. Many companies prefer the cheapest multimodal model instead of choosing the most efficient one; this trade-off is very costly with hidden costs and risks that increase significantly (Molenaar, Anderson, Schexnayder, National Research Council (US)., National Cooperative Highway Research Program., American Association of State Highway and Transportation Officials., and United States). Unis, 2010).Over the past two decades, the cost of transporting goods has decreased, which has helped improve productivity and economic growth. However, market forces and rising fuel costs as well as environmental concerns impact the cost of transporting goods from one location to another. Subsequently, the high cost of transporting goods will be felt throughout the economy, affecting entry...... middle of article ......ersten & Bemeleit, 2006) .References:Bersani, C., & Proceedings of the NATO Advanced Research Workshop on Advanced Technologies and Methodologies for Risk Management in the Global Transport of Dangerous Goods. (2008). Advanced technologies and methodologies for risk management in the global transportation of dangerous goods. Amsterdam: IOS Press. Kersten, W. and Bemeleit, B. (2006). Managing risks in supply chains: how to build reliable collaboration in logistics. Berlin: Erich Schmidt. Molenaar, KR, Anderson, SD, Schexnayder, CJ, National Research Council (USA)., National Cooperative Highway Research Program., American Association of State Highway and Transportation Officials., and USA. (2010). Guide to risk analysis tools and management practices to control transportation project costs. Washington, DC: Transportation Research Council.