When shipping is an integral part of your organization, managing and processing invoices and making timely payments becomes a critical task. It is crucial that you have a system in place that ensures visibility over freight invoice processing and payments. When done right, it will become an opportunity to save costs and ensure process efficiencies. …
The covid-19 pandemic’s onset brought global supply chains’ fragilities into sharp focus and magnified the need for organisations to build resilience and agility into their systems. While the world might be gradually recovering from the Covid backset and bouncing back to normalcy, the truth is that there may not be a ‘stable state’ for global…
The global logistics and container shipping industry are mammoth, and keeping them in a smooth motion and overcoming obstacles is quite a challenge. While most of the world’s cargo continues to get shipped in containers, container shipments face their own set of problems too. As a shipper, one of the best ways you can minimise…
Getting competitive prices each time you ship your freight is critical to your bottom line. While traditionally you might be relying on your internal freight rate history to determine the best lanes and rates for your freight shipments, today there’s a better way. It is here that freight benchmarking or freight rate index tools step…
For companies with an import-export-oriented business, reducing transportation costs has always been a critical priority. While traditionally cutting down on transportation costs was quite a challenge, various technological advancements have made it possible to manage transportation costs better and drive savings. Today, there is a wide range of ways in which you can optimize transportation…
Shipping analytics software in logistics is of huge importance. The logistics and supply chain industry are among the most dynamic and complex industries involving several bottlenecks, movement of assets, reliance on third parties, etc. Above all, the industry is prone to disruptions and more particularly unforeseen events, making a solid case for why companies are…
As a majority of the world’s goods continue to move by sea even today, the role played by shipping lines in global trade cannot be overlooked. Shipping containers move 95% of the worldwide cargo. It is these companies that have kept the international supply chains running for the longest time and have stood the test of…
To tackle unanticipated disruptions head-on and build a resilient supply chain network, you must stay ahead of various advancements in the industry. Today, a spate of state-of-the-art technologies are setting new trends in the supply chain field, and their adoption is bound to accelerate in the years to come. Most of these technological innovations have…
With the complex and volatile global trade environment pushing rates higher and making capacity tighter, have put shippers and their freight procurement teams under tremendous pressure. They need to strike a balance between not skimping on quality when it comes to working with the right suppliers and freight forwarders—and squeezing as much value as possible…
Whether you are a seasoned professional or just starting out in the logistics industry, there are quite a few common terms that you need to be aware of. This will help you to understand the freight forwarding process and ensure smooth operations. To enable an efficient supply chain, and avoid miscommunications in payment of freight,…
After a six months-long roller coaster ride that began with the coronavirus outbreak in China and rapidly ravaged global trade, signs of recovery have at last started showing. From the time stalled shipments, skyrocketing freight prices and blank sailings had become a common occurrence, container shipping activities have staged a relative rebound in recent months. …
If you are active in the world of international trade, there is no avoiding the incoterms. The freight industry is governed by a voluntary yet authoritative set of rules known as the Incoterms. Anybody working in this industry will have come across this term at some point, but there is some ambiguity surrounding these rules. …
Freight audit and payment may not be the first things that come to your mind when you analyse your expenses. However, they play a major part in running up unnecessary costs for your business. More and more companies are heeding the implications of a very important question, “Why should you reconcile your freight invoices?” Until…
Unexpected disruptions in supply chains around the world have led the industry to be more cautious, especially in the post lockdown phase that we are currently entering. Newer technologies and better approaches to existing solutions are required to gain a competitive edge in the market. One of the major ingredients of competent decision-making is a…
As global trade and supply chains continue to be disrupted by the COVID-19 pandemic, organisations across industries are looking for ways to build resilience and agility into their systems. A good starting point for improving efficiency and optimising supply chain operations is by the adoption of digital automation technology. Today, the power of advanced technology…
Spiraling freight rates have left businesses around the world scrambling to stay afloat during the coronavirus pandemic, piling yet more pressure on already stretched global supply chains. At the core of this problem: shrinking cargo space. Here’s what has led to a decrease in cargo capacity and how it is impacting freight rates. Airplanes grounded,…
Chemical companies are big-time exporters of full container loads(FCLs), roughly ranging from 50 containers to as high as 350 containers per month managing 40-60 trade lanes in a month. An individual freight forwarder in today’s competitive world of shipping and rates can only be numero uno in 5, maybe 10 lanes. So such a company…
