In a world with an economy that’s increasingly becoming real-time, where transactions are driven by digital automation technology, speed, time and accuracy is all that matters. It is this ‘real-time’ nature of the economy that has led to the evolution of the transportation and logistics industry. Transportation today is no more restricted to being a…
The last few years have marked the beginning of a digital transformation of several industries and the otherwise static freight procurement world has been no exception. If there is one thing that the emergence of digital technologies has proved beyond doubt then it’s that the procurement or supply chain industry lends itself very well to…
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…
While digital transformation has been slow, if not stagnant in the logistics industry, recent times have witnessed rapid developments in this space. With more and more supply chain professionals adopting digital alternatives to traditional methods by automating RFQ management, opting for digital freight procurement strategies and purchasing real-time container tracking software, the time has come…
The coronavirus pandemic caught organisations around the world off guard due to a series of factors, one the main reasons being lack of supply chain visibility. Even today, as businesses try to bounce back from the setback, gaining end-to-end supply chain visibility on the movement of their freight remains a challenge. While supply chain visibility…
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,…
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…
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…
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. …
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…
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…
