Today, freight procurement is more than just about the price. It is one of the most crucial parts of the supply chain and has the potential to enable high-performance levels and drive ROI to a major extent. The ongoing year has been a year of disruption and transformation for the freight procurement industry owing to…
As we get close to the end of 2020 and global supply chains slowly begin to recover from the covid setback, now is the time to pause, look back and review the lessons learnt through the pandemic while chalking out new strategies for the year ahead. Besides, it’s time we note that in a year…
If you are a logistics or supply chain manager, the terms freight tender, RFQ proposal and transport procurement would probably be synonymous with tedious and time-consuming processes. Nevertheless, freight tendering is a crucial part of the procurement process. Owing to the unforeseen pandemic and its aftermath, supply and demand have witnessed severe fluctuations. Securing reasonable…
Logisticians across the globe have been relentlessly working through the pandemic to keep the world’s goods moving. The global logistics industry has rapidly evolved and risen with great willingness in the last few months to overcome the challenges posed by the COVID-19 outbreak. The changes that have been triggered since the beginning of the pandemic…
The simplest way to drive double-digit cost savings every time you ship is to ensure that you negotiate well to get the best deals each time. Being in total control of how much you pay for your shipments and making use of the right tools to negotiate better is crucial to improving your bottom line….
Tired of wrestling with freight quotes and chasing down the best deals? Imagine a world where AI negotiates for you, specialized software tackles specific challenges, and the cloud keeps everything accessible. AI is reshaping supply chain innovation, management, and optimization of freight operations. This is the reality of modern freight procurement software! We’ve explored the…
It is high time that logistics companies do away with manual tracking and adopt automated container tracking systems. Before the emergence of digital container tracking solutions, keeping track of all your global shipments was a time consuming, laborious process. It fell upon the logistics managers to manually visit the website, key in the booking number…
For any supply chain and logistics professional, invoice reconciliation is a major task; if it’s a good day, everything runs smoothly, but if not, several mistakes can and often do happen while processing invoices inviting several inefficiencies. Market studies show that 25-30% of all freight invoices are wrong, with many discrepancies ultimately going unchecked. When…
Shipping costs most certainly are an integral and significant part of the supply chain expense. To run your business successfully, you must try and reduce these costs without having to compromise with the service you get from the stakeholders involved. Undoubtedly, being in control of how much you pay for your shipments and having the…
The unprecedented impact of the ongoing pandemic has made it clear that global supply chains are only as strong as their weakest link, i.e. visibility. It has become more imperative than ever to adopt a system that enables real-time container tracking. Any efficient and real-time container tracking solution provides extensive monitoring capabilities via a single…
When you think of ways to reduce your freight costs and drive efficiency and profitability, the cost involved in invoice processing may not be the first thing that comes to your mind. However, it’s one of those expenses that are hard to spot and continue to slowly eat into your bottom line. While industry studies…
Whether you are a seasoned professional or just starting out in the logistics industry, there are quite a few common terms that you need to be aware of. This will help you to understand the freight forwarding process and ensure smooth operations. To enable an efficient supply chain, and avoid miscommunications in payment of freight,…
If you’re in the supply chain industry and looking to adopt a Supply Chain Management (SCM) software to refine your operations and reduce costs, you will want to ensure that you invest in the right system. The emergence of cloud-based solutions has heralded a new era in the supply chain management software space. Its benefits…
One of the biggest challenges faced by supply chain professionals around the world, in light of the ongoing pandemic is its adverse effect on global freight rates. Owing to the fluctuations in supply and demand, securing reasonable freight rates has become even more difficult than before. At the peak of the impact of coronavirus, there…
After a six months-long roller coaster ride that began with the coronavirus outbreak in China and rapidly ravaged global trade, signs of recovery have at last started showing. From the time stalled shipments, skyrocketing freight prices and blank sailings had become a common occurrence, container shipping activities have staged a relative rebound in recent months. …
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…
With the current pandemic exposing the fragility of the global supply chains, it has become more imperative than ever to adopt a system that enables real-time container tracking. Investing in automated monitoring equipment for tracking exactly where your containers are has become as important as shipping those same containers. At the Digital Container Summit that…
Exporting and importing goods can be quite overwhelming given the number of intricacies, documentation, formalities and above all, money that is involved in the process. A document that plays a vital role in making sure that your freight is delivered on time, in the right condition and acts as a document of title to the…
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. …
