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…
The COVID-19 menace has become a catalyst for organizations across the world to revisit their supply chain networks, examine its vulnerabilities and build resilience. As your business gears up for the world beyond coronavirus, you might be facing questions such as how to emerge stronger from this crisis? How to maintain business stability in the…
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.
Reducing costs is a key goal for most companies. Some expenses, however, are more difficult to see than others: they remain hidden, silently eating away at your profits whilst your competitors gain a critical pricing advantage from this lapse. The cost of manually reconciling freight invoices is a common example where organizations spending too much….
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…
Are you sick and tired of paying thousands of dollars to your freight forwarders? Do you want to save money on your international freight procurement? The way you negotiate is key. Negotiation saves your business money. It allows you to work towards a lower price, making sure you pay less for your freight procurement. Unfortunately,…
Are you delivering in full and on time? Is your supply chain department working efficiently? There’s a way to measure your supply chain efficiency and be sure about it. That’s with the DIFOT rate. In this post, we will discuss DIFOT(Delivery in full, on time) why it matters and how you can improve. Let’s start…
Do you outsource your shipment tracking process to third party logistics services? We have observed that numerous organizations outsource their third-party logistics needs to get to the adaptability and scalability that an outside vendor can offer. If their shipping needs increase rather than employing additional staff or extending distribution center space, they hire 3PL merchants…
Let me begin with a simple question… How much time and effort do you spend on tracking and tracing your shipments? To find the answer, let’s break this down. Let’s assume you have 500 shipments a month and you work with 7 to 15 shipping lines. To know the current location of all your 500…
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…
We all know this simple fact. No customer satisfaction means no retention. No retention means shrinking customer database & straight drop of profit. By 2020 customer experience will be the main differentiator factor predicted by Walker Consulting. Not the price nor the product itself. It will first and foremost be about the experience – and…
Now straight off the bat, you’ll be thinking that the above looks a little strange. How on earth could the biggest cricketing tournament in the world helps reduce my freight charges? Well, as the teams are about to break for drinks, let’s read on, to find out how. First, let’s set the field. You’re a…
In the pharmaceutical industry, a large percentage of the business is export-oriented. Since the goods are sensitive, i.e. perishable, they require a specific temperature for storing. Due to the nature of the cargo, most of the exports are done via Air cargo only. The freights today are very dynamic and every air shipment is unique…
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…
