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. …
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…
Driving cost savings in today’s fast-moving supply chain industry has become quite a challenge in light of unforeseen events, fluctuating rates, and ever-changing supply-demand dynamics. For you to better manage costs, determine the best possible trade lanes for each shipment and drive savings, freight rate benchmarking has become a necessity. Irrespective of whether you are…
Amid countless technologies that continue to present promising opportunities to the supply chain industry, blockchain has emerged as a critical innovation, with the potential to revolutionise digital supply chain management. With supply chains growing more complicated by the day, using blockchain technology can help organisations record relevant information more efficiently, making way for improved transparency,…
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…
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…
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…
Shipping goods internationally, especially on a large scale, can be quite a task. While dealing with international shipments, logistics teams are faced with three fundamental questions: Which freight forwarder is the best fit for their business? Who among all the interested freight forwarders, is the most reliable? And most importantly, how can they get the…
When it comes to organisations that ship goods internationally, dealing with freight forwarders is not a one-time transaction but a part of the business itself. As a shipper, it’s crucial that you choose the right forwarder as they bridge the gap between you and your customer, making the import and export process seamless. But…
An agile and resilient supply chain is truly an asset for organisations around the world as it boosts business opportunities and growth in countless ways. However, simplifying end-to-end logistics and building a robust supply chain doesn’t happen overnight. It requires strategic planning, the right choice of technology and a thorough understanding of the existing system. …
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…
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…
With tightening capacity and ever-soaring rates in the face of COVID-19, managing logistics and shipping goods has become a turbulent experience. Investing in the right TMS can streamline your operations and boost business. However, with so many options to choose from, how do you identify the TMS best-suited for your organisation and your budget? What…
With cost-saving strategies more important than ever, companies around the world are facing a situation where faltering contracts and a widening gap between container demand and supply is forcing them to turn to the spot market to fulfil shipment orders. For organisations with hundreds of shipments per month, suddenly having to manually create, compare and…
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…
Today’s dynamic logistics and supply chain environment requires strategic planning; execution of strategy; measurements to goals; analysis against industry benchmarks; and continuous improvement. However, negotiating quotes for your freight remains a static process. Freight procurement via an RFQ (Request For Quote) is plagued with inefficiencies when done manually. With logistics operations accounting for nearly 95%…
A lot has changed in the freight ecosystem over the last few decades – From regulations to carrier technologies. The way we look at international freight procurement – The Request for Quote/Price/Tender (RFQ/P/T), however, has been the same for decades. RFQ is the first step towards freight procurement and the one that decides the cost…
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,…
The lack of data in your freight management process is disrupting your supply chain and leaving your logistics team in the dark. Read this blog to find out the benefits of integrating data and freight analytics into your freight process.
