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…
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…
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…
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. …
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…
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…
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,…
As the ongoing pandemic continues to raise concerns about the agility of global supply chains, organisations across industries are looking for ways to identify and leverage new opportunities and weather the storm. In a webinar hosted by GoComet last week, vice-president procurement of Glenmark Pharmaceuticals Rajasekhara Reddy emphasised how technology and a strong team are…
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…
Unexpected disruptions in supply chains around the world have led the industry to be more cautious, especially in the post lockdown phase that we are currently entering. Newer technologies and better approaches to existing solutions are required to gain a competitive edge in the market. One of the major ingredients of competent decision-making is a…
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…
Often, the terms green and sustainable seem like synonyms of each other, but are most definitely not. While going green looks at only the environmental aspect of it, being sustainable is equivalent to taking into account the social, economical and environmental impact of that particular product or organisation. In this day and age, the traditional…
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…
The global pandemic has highlighted the value that Logistics Resource Management (LRM) platforms provide to export-import-oriented companies. For organizations considering LRMs for the first time or an upgrade of their current solutions, should they invest in building a customized, in-house platform or buy a ready-to-go, off-the-shelf software? Here are some of the factors to consider,…
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. …
