The recent shipping container shortage that’s left everything from soybeans to smartphones idling in ports threw global trade into chaos. While shippers were scrambling to keep their goods moving, the import/export imbalance pushed ocean rates to eye-watering levels. So, where have all the containers gone? Many remain stranded in inland depots, and hundreds more are…
It’s been a little over one month since the much anticipated Brexit went into full effect, and shippers across the UK and Europe have been experiencing an avalanche of delays and documentation. Businesses in the UK and organisations trading with the region are looking for ways to mitigate risks as the realities of Brexit have…
Did you know that optimizing your freight management could cut shipping costs by up to 30%? Yet, many companies miss out on these savings by focusing only on individual shipments rather than the entire supply chain. Freight optimization isn’t just about finding the fastest route—it’s about transforming every stage of the process, from sourcing materials…
Introduction to Cargo Insurance For sea shipments, if the carrier was to sink or your goods were to get damaged, carrier liability is not enough to cover the losses. And for land freight, if your vehicle is to get in an accident, you would lose your goods and the vehicle. These are just two instances…
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…
After a wild year that 2020 was, the arrival of the covid-19 vaccine, at last, got along a great deal of relief for everyone. However, the already-stretched supply chains are now up for a more significant challenge- to execute an unprecedented worldwide distribution of the vaccine. What we are witnessing today is the post-pandemic phase…
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…
Freight audits and payments may not be the first thing that comes to your mind when you think of ways to reduce freight costs. The cost of manually reconciling freight invoices is one expense that remains hidden and silently affects your bottom line. Industry studies estimate that manual invoice processing costs around $5 to $12…
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…
In supply chain management, a combination of an efficient workforce, automation of particular workflows, and perfect coordination between various functions is critical to a smooth functioning supply chain. Above all, there is always room for improvement and boosting business. Each time your business witnesses growth, the key is to proactively look for ways to improve…
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…
To keep your supply chain running smoothly, it’s essential to have visibility and control over your supply chain operations. By having access to real-time data on your operations, automating repetitive tasks, and gaining insights through big data analytics, you can build a flexible and robust supply chain network. It is here that a competent logistics…
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…
When it comes to supply chain networks, the bigger the business, the more complex its supply chain management tends to get. Moreover, ever-increasing competition in the market and rising customer expectations have further added to this complexity. While the market may have left organisations with Herculean challenges to overcome, a crucial relief is the emergence…
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…
