Transportation is a significant part of the entire supply chain, and every company strives to reduce its transportation costs to maximise the supply chain ROI. Transportation logistics costs are rising for several reasons today – top reasons including the geo-political tensions caused due to the Russia-Ukraine crisis and capacity shortage caused due to global port…
Did you know that demurrage and detention charges can accrue up to 20 times the container’s value? With international shipping rates already soaring, any extra expenses incurred on top of the freight rate will take a bite of your margin. Today, the detention and demurrage charges easily exceed $100 per container per day. While D&D can be an…
Shipping as an industry is interconnected like no other! As the Russian invasion of Ukraine extends into its fourth week, its effect on an already stressed shipping industry continues to hammer what is believed to be a long path of recovery. In the last two decades, there has not been a time where the magnitude of the…
Russia’s invasion of Ukraine has quickly developed into a humanitarian crisis. While disruptions in business cannot compare to human tragedy, the impact of the conflict is causing a domino effect in more aspects than one. The crisis is plaguing global trade by triggering an extensive supply chain disruption. In an increasingly globalised and interconnected supply…
At a time when major shipping lines have already seized their operations into Ukraine, which has led to an impact in the western Mediterranean and the Black Sea; the ongoing Russia-Ukraine crisis has now prompted the world’s three biggest container lines — Swiss-headquartered MSC, Denmark’s Maersk, and France’s CMA CGM to announce a temporary suspension…
The Russian invasion of Ukraine has set a worldwide ripple effect in motion. Fluctuating currencies, swinging stocks, soaring energy prices – the ordeal seems long. The global supply chain crisis against which industries have been fighting hard for the last couple of years is now plagued with a fresh set of challenges. The Russia Ukraine…
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…
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…
As a shipper, one of the best ways to minimise risks and unpleasant surprises when shipping your goods is to keep a close track of your shipment’s movement. Undoubtedly, the key to running a smooth supply chain is to have real-time and end-to-end visibility over the location of your cargo. Earlier, logistics managers had to…
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…
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…
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…
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…
You may well ask, why the sudden urge to turn towards an integrated supply chain? Companies have slowly started to realize the very noticeable hand of an integrated supply chain in fostering lean principles and long-term, sustainable growth. The coronavirus pandemic and the current post-COVID landscape is another major driving force in logistics companies investing…
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…
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…
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,…
GoComet’s innovative freight shipment tracking solution has received an honorable mention in Gartner’s Research Report for Supply Chain Operational Visibility Vendor Guide 2019. The research report provides supply chain professionals with an in-depth analysis of the world’s leading operational visibility solutions Gartner defines the real-time transportation visibility platform (RTTVP) market as follows “Real-time transportation visibility…
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…
