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…
In today’s fast-moving digital age, freight procurement stands to gain a great deal from digital procurement transformation – and, the sooner logistics companies begin their journey, the better. Automating your freight procurement from end to end enables an unmatchable performance and drives ROI to a major extent. The latest tools in the digital procurement field…
Freight benchmarking is a game-changer for shippers looking to secure the best rates, whether shipping by air or sea. Traditional negotiation methods, with their endless calls and emails, make it hard to consistently get competitive prices. But with digital automation, the process has evolved. Modern Logistics Resource Management platforms allow you to share inquiries with…
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…
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…
Digital transformation in the field of Accounts Payable has been tough to carry out, given that invoice operations are inherently complex and place a lot of dependency on human effort. As with any other technology, this is just another hill to climb in the right direction. Reducing the burden on manual labour, minimising errors, identifying…
Logistics plays a fundamental role in the efficiency of every company. While a strategic logistics plan takes care of the selling and buying of goods, a key component that could throw a potential spanner in the works is an unhealthy relationship with the various stakeholders of your supply chain network. Relationships matter. With variables at…
As COVID-19 continues to disrupt global supply chains, knowing exactly where your shipments are has become more crucial than ever before. The traditional way of tracking shipments is tedious, time-consuming and ineffective, to say the least. Industry studies show that tracking about 500 shipments every month on the sites of about 7-15 shipping lines alone…
Real-time tracking is an integral part of this process, having so many players moving your freight effectively takes the control away from your hands. The question here is—What exactly is going wrong with your distribution, and how significant a role does real-time visibility play in this picture? In today’s fast-paced freight world, more and more…
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,…
FACT #1: to automate and digitize takes time. There’s no denying it, so you might as well embrace it – and profit from it too! FACT #2: you need automation and digitization everywhere. Whether it’s for: simplifying manual processes; reducing worker fatigue; increasing efficiency; leveraging data or improving metrics, it’s impossible to ignore the value…
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…
There are 40 major shipping lines that transport your cargo from a POL to POD. Once the containers are booked, the job is not done. It is very essential to track the status of the cargo as: 1. The cargo is worth thousands if not millions of dollars2. Lack of knowledge of delays in exports can spoil…
Is the market rising or is it falling? Did this question ever cross your mind? SENSEX! I am not talking about that but you are close enough! Ever seen an index for global freight? Look no further. Introducing GFI, GoComet Freight Index. GoComet Freight Index is a shipping index reflecting the fluctuation of spot rates…
