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The Approach to Effective Freight Procurement

The Logistics & Supply Chain Management Society

The Approach to Effective Freight Procurement by LSCMS Shippers’ Council Container shipping procurement faces a multitude of challenges shaped by global events, industry shifts, environmental mandates, and technological advancements. At the heart of it all, an effective procurement strategy remains paramount.

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Flexibility in the Face of Uncertainty

Freightos

Most recently, the recent disruptions in the Red Sea that saw ocean freight rates from China to Europe by over 190% and saw transit times lengthen, sea-air services offered a strategic advantage for logistics professionals able to remain agile, by watching trends and jumping at opportunities to ensure a resilient supply chain.

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Logistics Procurement – Performance Management

The Logistics & Supply Chain Management Society

Logistics Procurement – Performance Management by LSCMS Shippers’ Council Shortly after the outset of COVID, in early 2020, supply chains have been disrupted across the globe. Rates are now starting to stabilise and for ocean freight especially, we are seeing rates closer to pre-COVID levels.

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Back to Logistics Tech School, 2022: the Lost Peak Season, the lingering COVID impact and more

Freightos

The low rates that triggered Hanjin’s bankruptcy in 2017 quickly became a thing of the past, as surging demand, congestion, and a litany of global shipping catastrophes pushed ocean freight rates into the stratosphere. Including, of course by leveraging global freight tech for BCOs. The Weekly Freight Update. View weekly update.

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Navigating Uncharted Waters: SMB Importers, 2024 and Red Sea Crisis Lessons

Freightos

The implication for global freight beyond the now typical uncertainty is predictably elevated operational costs and soaring freight rates. This optimism is buoyed by the fact that 55% of importers have their inventories in check, anticipating a stronger freight demand in the coming year.

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In Search of Alternatives to Truckload’s Fragile Freight Contracts

MIT Supply Chain

The loads may never materialize, or the carrier may not have the capacity in the right place when it is scheduled to haul the cargo. But they do add costs and reduce the efficiency of freight networks. After the shipper broadcasts its freight transportation needs, carriers submit their offers for winning the business.

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January 30, 2024 Update

Freightos

More Resources Home January 30, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. America air cargo rates climbed 11% last week to $5.33/kg,