The cost of your inventory has a significant influence on your budgeting and overall profitability. Businesses constantly work to sell excess goods, but a surprising amount inevitably goes to waste. According to a report by materials supplier Avery Dennison, a staggering 8% of surplus stock globally translates to roughly $163 billion worth of inventory being…
In the fast-paced world of modern business, efficient and accurate invoice processing is a critical component of maintaining seamless operations and a healthy cash flow. However, the traditional manual approach to invoice processing is fraught with challenges and inefficiencies that can hinder productivity, profitability, and growth. As companies strive to stay ahead in an increasingly…
Accounts payable (AP) is a pivotal aspect of organizational audits, given its significant impact on financial health. With supplier expenses trailing closely behind payroll as one of the highest business costs, it’s imperative to optimize AP processes. The efficiency of AP operations directly impacts profitability and cash flow management. Through regular audits, businesses aim to…
As a Customer Success Manager at GoComet, I’ve had the privilege of working with over 50+ clients in digitizing their Freight Negotiation process through the GoProcure module. This journey included collaboration with diverse industries, such as top pharmaceutical companies, chemical manufacturers, and automobile giants, each with its unique global footprint. What I have learned over…
Introduction Bob impulsively ordered a tiny plant online, opting for overnight delivery. The next morning, he received a massive box. Inside? A single leaf, with a note: “Your plant needed some extra room to stretch its roots! Happy gardening!” While the anecdote is a bit exaggerated, teleporting the goods to your doorstep is the next…
Introduction: Why did the demurrage fees go to therapy? They couldn’t handle the cargo’s refusal to leave without a “storage” of emotions! While this joke is very jargon-specific, anyone well-versed in the proceedings of logistics, can relate to it and probably reminisce the penalty payments as demurrage. To categorically define, demurrage refers to the charges…
Cost-cutting has been a priority of the world lately. Beyond terms such as “economic approach” or “striving of resource optimization”, the gist predominantly remains the same i.e. better costs. Finding cost-effective ways to handle shipping is crucial for companies of all sizes. That’s where economy shipping comes in. It’s become increasingly important because it’s affordable…
Inventory control is a fundamental process in businesses that supports effective operations, simplified logistics, and ultimately, customer satisfaction. People who work in the manufacturing, retail, or wholesale sectors are aware of how important inventory control is to their daily operations. It guarantees that they have the appropriate items in the appropriate amounts at the appropriate…
The logistics sector is booming, with the global logistics market reaching $5.4 trillion in 2023, fuelled by instant gratification and global trade. And these cargo aircrafts play a crucial role in facilitating the swift movement of products across borders. These huge machines are vital to the global supply chain because they guarantee the prompt delivery…
The smooth flow of commodities is an essential part for companies across various industries in the competitive market today. Knowing the basics of shipments is essential whether you run a large company overseeing a complex supply chain or are a small business owner shipping goods to clients. Join us as we chart a course through…
The air cargo industry has experienced a notable surge of over 11% in demand for air freight volume since the outset of 2024. While this uptick may be partially attributed to the disruption in the Red Sea region, it is not the sole contributing factor. Hence, it becomes increasingly important to gain a comprehensive understanding…
Mexico’s vast coastline isn’t just beautiful beaches – it’s a hub for global trade. With over 117 seaports lining its 7,145 miles and supported by a network of highways, railways, and airports, Mexico boasts a massive port infrastructure. This strategic positioning makes them crucial for the global economy. Recent investments have doubled port capacity, and…
Introduction to Ocean Freight Ocean freight is the backbone of global trade, connecting economies across continents through the vast expanse of the world’s oceans. It’s like the silent giant of logistics, quietly moving massive amounts of goods from one busiest port to another, shaping the flow of commerce on a grand scale. When we talk…
In the field of logistics, complexity is a given element. Supply chains are evolving into complex weaves made of several threads including data-driven insights, transportation, warehousing, and customs compliance. Despite their value, traditional logistics companies frequently find it difficult to manage the ever-increasing complexities of contemporary trade. Introduce yourself to 4PL providers; they are the…
Logistics is a complex series of activities that makes sure products get from point A to point B without any problems. Whether it’s a local delivery or a cross-continental journey, effective transport is essential to this industry. This journey often involves complex networks of transportation that move cargo over great distances. Consider the stages involved…
In today’s interconnected world, shipping packages across borders has become the norm. But along with this convenience comes a natural desire to know exactly where your package is at every stage. That’s where USPS International Tracking comes in. With USPS international tracking, you get a clear view of your shipment’s journey, from your hands to…
In the fast-paced world of logistics, staying updated on your shipments is crucial. This is where DHL Tracking comes into play. As a service provided by DHL, one of the world’s leading international courier companies, DHL Tracking offers customers the ability to monitor their shipments in real-time, whether they’re domestic or international. This comprehensive guide…
Top 10 busiest container ports in the United States
In today’s dynamic landscape of global logistics, creating a budget for the fiscal year 2024–25 requires a strategic approach that acknowledges and adapts to the prevailing disruptions. The challenges presented by geopolitical shifts, technological advancements, and unforeseen events make this task more complex than ever before. This blog can be taken into consideration by businesses…
LCL Shipping LCL, or Less than Container Load, is a clever shipping method that revolutionizes how businesses transport their goods. Picture this: you have a bunch of boxes or pallets of merchandise ready to be shipped overseas. But here’s the catch – your shipment isn’t big enough to fill up an entire shipping container. That’s…
