The key goals of every supply chain professional are to optimize operational efficiency and reduce logistics costs. Mismanagement in logistics can often result in excessive expenditures, delivery delays, missed deadlines, and damaged goods. Needless to say, if you want your company to stay financially viable and drive profitability, you must prioritize efficient planning and strategize…
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…
The startup ecosystem has set in motion several exciting trends in the supply chain and procurement space in the last few years. All thanks to the innovative solutions these companies are offering, business models in the industry are undergoing a smart transformation. A wide range of new themes are increasingly emerging in the market today,…
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…
Recent years have witnessed an increase in the adoption of digital solutions across several industries. The logistics and supply chain industry has been no exception. Especially in the field of freight procurement, it has been proven beyond doubt that the scope for improvement is vast. For any freight purchasing manager, the primary goal is to…
As we get close to the end of 2020 and global supply chains slowly begin to recover from the covid setback, now is the time to pause, look back and review the lessons learnt through the pandemic while chalking out new strategies for the year ahead. Besides, it’s time we note that in a year…
You may well ask, why the sudden urge to turn towards an integrated supply chain? Companies have slowly started to realize the very noticeable hand of an integrated supply chain in fostering lean principles and long-term, sustainable growth. The coronavirus pandemic and the current post-COVID landscape is another major driving force in logistics companies investing…
Tired of wrestling with freight quotes and chasing down the best deals? Imagine a world where AI negotiates for you, specialized software tackles specific challenges, and the cloud keeps everything accessible. AI is reshaping supply chain innovation, management, and optimization of freight operations. This is the reality of modern freight procurement software! We’ve explored the…
For any supply chain and logistics professional, invoice reconciliation is a major task; if it’s a good day, everything runs smoothly, but if not, several mistakes can and often do happen while processing invoices inviting several inefficiencies. Market studies show that 25-30% of all freight invoices are wrong, with many discrepancies ultimately going unchecked. When…
While digital transformation has been slow, if not stagnant in the logistics industry, recent times have witnessed rapid developments in this space. With more and more supply chain professionals adopting digital alternatives to traditional methods by automating RFQ management, opting for digital freight procurement strategies and purchasing real-time container tracking software, the time has come…
The coronavirus pandemic caught organisations around the world off guard due to a series of factors, one the main reasons being lack of supply chain visibility. Even today, as businesses try to bounce back from the setback, gaining end-to-end supply chain visibility on the movement of their freight remains a challenge. While supply chain visibility…
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,…
One of the biggest challenges faced by supply chain professionals around the world, in light of the ongoing pandemic is its adverse effect on global freight rates. Owing to the fluctuations in supply and demand, securing reasonable freight rates has become even more difficult than before. At the peak of the impact of coronavirus, there…
Measuring, analyzing, and optimizing your business operations is just as important or perhaps, even more, important in the logistics industry. To stay relevant in the market it is imperative that you keep a close eye on any and every opportunity to improve. This is where key performance indicators (KPIs) come into play. Identifying and making…
The ongoing pandemic has yet again highlighted the value that digital automation technology can provide to global supply chains. At a time when managing your logistics has become a turbulent experience, investing in a Logistics Resource Management platform that best suits your company, can help streamline your operations and boost business. However, in a market…
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. …
With the market being as volatile as it is, unforeseen disruptions at every stage in the supply chain have become a common occurrence, emphasising the need to build resilient and agile networks that facilitate quick response and minimise risks. Due to the ongoing pandemic, heavy restrictions on transport and labour have thrown a huge spanner…
Often, the terms green and sustainable seem like synonyms of each other, but are most definitely not. While going green looks at only the environmental aspect of it, being sustainable is equivalent to taking into account the social, economical and environmental impact of that particular product or organisation. In this day and age, the traditional…
For organisations that ship goods internationally, shipping cost accounts for a significant expense and its dynamic nature makes it close to impossible to spot opportunities for driving cost savings. Especially for businesses that are inventory intensive, logistics cost plays a crucial role in determining profitability. However, there are several practices you can deploy to beat…
