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  • GoComet’s innovative freight shipment tracking solution has received an honorable mention in Gartner’s Research Report for Supply Chain Operational Visibility Vendor Guide 2019. The research report provides supply chain professionals with an in-depth analysis of the world’s leading operational visibility solutions Gartner defines the real-time transportation visibility platform (RTTVP) market as follows  “Real-time transportation visibility platforms (RTTVPs) provide commercial customers and consumers with real-time insights into their orders and shipments once they have left the brand owner’s or service provider’s warehouse. Such platforms, owned and managed by third-party software vendors, represent a subsegment of the overall end-to-end supply chain visibility market, predominantly — but not solely — addressing the domestic road transportation mode. RTTVPs obtain data through integration (e.g., API, EDI) with carrier systems, direct feeds from telematics (e.g., in-cab or trailer devices) or other devices (e.g., mobile or smartphone).” About GoComet GoComet is empowering enterprises with the latest technology to innovate their logistics operations and drive down costs. It is the simplest and most user-friendly LRM solution in the World. Our vision is to bring automation and digitization in the logistics world. About Gartner Gartner is a global research and advisory firm providing information, advice, and tools for leaders in IT, finance, HR, customer service and support, communications, legal and compliance, marketing, sales, and supply chain functions. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranty of merchantability or fitness for a particular purpose. GoComet Real-time Container Tracking Dashboard Get real-time...
  • Did you know? 8 is the luckiest number in Chinese culture because of 八 sounds like 發 (fa), which means “wealth”, “fortune”, and “prosper” in Chinese. Even in Japan 8 is considered a lucky number because it is nearly homophonous to the word “Prosperity” (繁栄 han’ei), It is also homophonous to Hachikō. Now you might be thinking- “why am I sharing this information?” Well, I have some exciting news to share! GoComet just surpassed the $8 billion worth of cargo moved. This is the beginning of a long journey and we hope will make GoComet even more useful for all of our users. Since 8 is a lucky number in both Japanese and Chinese culture, so even more reason to celebrate. A big thank you to all our customers 🙂 We have surpassed some more major milestones that include – Surpassed $201 Million worth of freight booked Saved total $18 Million of our customers Manual work of 40,389 Hrs saved We got some hands-on experiences with extremely successful events Future Plans We are working on new product Robotic Process Automation(RPA) for automatic invoice matching and processing. We will roll out a redesign of our new user interface (UI). We are working on new UI intending to make the software easy, light and faster. Soon we will invite you to be part of the testing process for the new UI. This is a great way to have an impact on our final touches. We are working on revolutionizing the international logistics space by reducing manual workloads, eliminating miscommunication and leveraging data. A Big Thanks To All Our Clients To all of our customers, 8 billion thankyous for being part of our crew and helping GoComet create the #1 enterprise software to reduce costs and manage freight faster, smarter and easier. Since...
  • Are you delivering in full and on time?  Is your supply chain department working efficiently? There’s a way to measure your supply chain efficiency and be sure about it. That’s with the DIFOT rate.  In this post, we will discuss DIFOT(Delivery in full, on time) why it matters and how you can improve. Let’s start this post by understanding what is DIFOT What is DIFOT DIFOT(delivery in full, on time) or OTIF(on-time and in-full), is basically transporter’s key performance indicator(KPI) that defines your supply chain efficiency by measuring the product, quantity, and delivery performance. It generally expressed in percentage(%).  DIFOT is dependent on the following factors –  The quality of the product ordered In the full quantity ordered by the client At the place agreed by the customer On the time expected by the customer DIFOT directly measures how successful your supply chain is at fulfilling these objectives. To achieve a high DIFOT rate, all the functions of the supply chain (among which orders taking, freight procurement, suppliers, warehouses, transport …) must work at their best level. DIFOT looks at the delivery performance from the perspective of the client hence most businesses consider DIFOT better than other delivery performance indicators such as shipped-on-time (SOT) and on-time performance (OTP). How to Calculate Difot rates Requirements for the DIFOT measurement are : Number of deliveries Delivery date measure the date or the hour of delivery and archive it in the system maintain a record of the reasons why an order was not OTIF. DIFOT(%) = Number of deliveries OTIF / (Total number of deliveries)  X 100 OTIF deliveries are those that fulfill the following criteria On-Time = (Delivery time) – (Confirmed delivery time) Target result = 0 In this case, the shipper should be able to match a delivery time agreed with...
  • Do you outsource your shipment tracking process to third party logistics services? We have observed that numerous organizations outsource their third-party logistics needs to get to the adaptability and scalability that an outside vendor can offer. If their shipping needs increase rather than employing additional staff or extending distribution center space, they hire 3PL merchants for frequently supply additional capacity on request. Most logistics managers tend to oversimplify the problem by making it a short-sighted decision based only on investment of time, effort, and money. What is Third Party Logistics (3PL) Third-party logistics (or 3PL) refers to the outsourcing of logistics processes, including inventory management, warehousing, and fulfillment. 3PL providers allow e-commerce merchants to accomplish more, with the tools and infrastructure to automate order fulfillment. We don’t know for sure who coined the term “third-party logistics,” but companies began trending toward outsourcing logistics services to third parties in the 1970s and ‘80s. With the presentation and development of the web-based business during the ’90s and 2000s, the term 3PL has turned out to be pervasive, and 3PLs have extended their services. The supply chain integration of warehousing operations and transportation services has become what we now call third-party logistics. Real-time Shipment Tracking Enforcing real-time shipment tracking to gain visibility throughout the supply chain is paramount for industries of all sizes. Many supply chain managers rely upon their transporters to implement track-ability to enhance efficiencies and reduce operational overheads.  Whilst working with many supply chain processes of different industries we realized that the challenges of outsourcing the implementation of visibility to transport providers would eventually outweigh its benefits in the longer run. Find out why this practice of outsourcing the implementation of IoT visibility solutions to transporters or 3PLs is indeed a recipe for failure. Here are the top 8 reasons why...
  • Let me begin with a simple question… How much time and effort do you spend on tracking and tracing your shipments? To find the answer, let’s break this down. Let’s assume you have 500 shipments a month and you work with 7 to 15 shipping lines.   To know the current location of all your 500 shipments, you are forced to look at each shipping line’s website and enter a master bill of lading or container number. Each and every time.  Right?? Let’s do the maths here On average, it takes 2 mins to track 1 shipment from 1 shipping line 1 shipment     = 2 min 500 shipments   = 1000 mins Now, you also have to trawl through 7 to 15 independent websites for each shipping line, which is again going to take you time and effort. 15 shipping lines’ site  = 15 mins  Next, there are generally 6 to 12 checkpoints in every shipment. Gate in, container loaded on the vessel, container about to reach transshipment port,  container loaded on the vessel at transshipment port, container reached the destination, container gated out, etc.  On average you would find 8 checkpoints in any shipment.  So…now imagine Based on the time required for 500shipments for a single checkpoint Checking a total of “8 checkpoints” to “500 shipments” a month  You have been forced to devote 8,000 mins of your time! That’s right, 8,000 minutes! That’s 133 hours, or put another way, over 16 ½ working days!  16 ½?! That’s more than most people’s annual holiday allowance!! And that’s not even including the time it takes for you to store these records to analyze the levels of service that your carriers are (or are not) providing you for the money you are paying them… However, this is the best-case scenario....
  • You did it — you finally dispatched your shipment! It’s smooth sailing from here, right? WRONG. On average, one intercontinental shipment includes hundreds of interactions and more than 20 players involved– freight-forwarders, port handlers, marine insurers, inland transportation and so forth. In this context, shippers frequently whinge about the difficulty in getting actual-time visibility of their shipments and that they don’t have any real guarantees about storage and transport situations. Dispatching a shipment was only half the battle; you still have to deal with delays or disruptions, inspection and on and on. The delay in shipments also leads to delay-related charges (Demurrage and Detention) and other fees. It also affects the shipper and consignee relationship. Can you guess what most companies do to solve these problems? They have manual processes where they have to track by going to different airlines and shipping lines and checking each of them, click by click. I know what you are thinking….There must be a better solution, right? One that gives real-time insight and doesn’t take much time. That is why the Container tracking and tracing module came in place…to foresee the transportation lead time. Container tracking systems provide the shipper all the insight regarding the different stages of the logistics and transportation process, consisting of information on the status updates of the container. Way to technological improvements, now it has grown to be less difficult to track the passage of goods at any time. An efficient field tracking system offers you port info and also gives you data about the location of your shipments. To track a container current location, some essential info is required i.e., container number/invoice of lading/booking number and the shipping line. Top 5 reasons why companies should use Container Tracking Module Reduce Time And Energy You can track multiple containers...
  • What if you could save million-dollars easily on your logistics costs? What would this additional million dollars mean to you – more profit, additional office, cost of one VP covered? So, how and from where do you save that extra money? A bit of math and some smart decisions can do just that for you. Here’s the trick… Compare landed cost instead of Ocean freight for your export shipments. Maybe you knew it, maybe you didn’t. If you didn’t, it’s been one costly slip. Here’s the math – learn it, use it and save extra million dollars on your logistics. Over the years, freight forwarders who are responsible for your freight bookings have got smarter. They know you are comparing only freight costs to decide which freight forwarder to award the shipment to. Hence, they quote rock bottom freight cost, but what they do not tell you is the other hidden costs, such as, the local port charges (THC-Terminal Handling charges, BL charges, Seal Charges, MUC, Toll etc). You get to know of these additional costs only when the final bill reaches you – 40 days after the vessel sailed. What if there was another freight forwarder who may not have quoted rock bottom freight cost but was really the lowest on landed cost. And, it missed your eyes. How would this happen? The local charges of shipping lines vary hugely. For eg., Safmarine charges THC of $90.7 while ZIM charges THC of $125.99. That makes it a difference of USD 40 on each container! All else being equal, who will you give the shipment to – Safmarine with 200 USD freight or ZIM line with 175 USD freight? How much difference does it make? In as much as 36.9% of the cases, the vendor with status L1 is not...
  • The pharmaceutical exports of India are growing steadily and the future looks even brighter. With fewer challenges and more opportunities for the Indian Pharmaceutical giants, the export sector is surely going to add to their business in a significant way. Trade experts feel that Indian companies need to keep up the innovation and aggression to stay ahead of competitors like China. The internal and external markets, both are showing buoyancy with a few signs of caution. Here are some key trends to watch out for: According to IBEF The Indian Pharmaceutical industry is set to reach $50 billion by the year 2016. Exports of pharmaceutical products from India are set to reach $20 billion according to a study conducted by ASSOCHAM research. In percentage terms, the Indian pharma generic exports grew faster than the worldwide pharma market between 2012-13 and 2014-15. Here are some key strengths of the pharma industry in India: Strengths Of The Indian Pharmaceutical Exports The country has one of the lowest cost of manufacturing and is one of the fastest-growing, as far as pharmaceutical products are concerned. The increasing support from the government for the pharmaceutical industry and a steady rate of growth in revenues are all working in favor of the industry. There are 4 key competitive advantages of the Indian pharmaceutical industry include:  Availability of raw material Skilled workforce Low cost of innovation Extensive Distribution Network India has skilled technicians and pharma professionals who are adept at the English language. This helps in the low cost of innovation, manufacturing compliance and documentation. The Generic Advantage Indian pharmaceutical companies mainly cater to the generic drug market. The main focus of pharmaceutical exporters in India includes: Generic Drugs Active Pharmaceutical Ingredients OTCs Patented Drugs Biosimilars India is among the largest exporters of generic drugs globally. The following data shows the...