5 Things to Know Before Negotiating Ocean Shipping Contracts This Year

Talking Logistics

The 2018-19 contract season for ocean shipping is here, and it’s time to think about the best way to approach negotiations. Ocean Shipping Contracts: 5 Factors to Keep in Mind. Still, if you had ocean freight in 2016, the memory of the bankruptcy of the Hanjin shipping line may linger in your mind. After Hanjin filed for bankruptcy protection and its assets were frozen, giant container ships were stranded; ships from China to the U.S.

How international shipping can be improved in today’s global automotive supply chain

The Network Effect

Today I want to discuss international shipping management in the context of the new network platforms. . Given the global nature of automotive manufacturing in today’s networked supply environments, international shipping will be a consideration as part of the trading relationship between Subsystem and Tier 1 Suppliers and their Tier 2 Suppliers. Visibility and timing once again take center stage related to international shipping.

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U.S./Mexico Shipping Series Part 2: A Presence on Both Sides of The Border

CH Robinson Transportfolio

Mexico Shipping Series Part 2: A Presence on Both Sides of The Border.Transportfolio. Mexico cross-border shipping, I covered some of the key benefits of a door to door service provider. Cross-border shipping is complex, but a logistics supplier with offices in the United States and Mexico can provide the knowledge and services that help deliver a smoother cross-border shipping experience. Mexico Shipping Options. Mexico Cross-Border Shipping

5 Things to Know Before Negotiating Ocean Shipping Contracts This Year

CH Robinson Transportfolio

5 Things to Know Before Negotiating Ocean Shipping Contracts This Year | Transportfolio. The 2018-19 contract season for ocean shipping is here, and it’s time to think about the best way to approach negotiations. Still, if you had ocean freight in 2016, the memory of the bankruptcy of the Hanjin shipping line may linger in your mind. After Hanjin filed for bankruptcy protection and its assets were frozen, giant container ships were stranded; ships from China to the U.S.

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U.S./Mexico Shipping Series Part 1: Door to Door Service Providers

CH Robinson Transportfolio

Mexico Shipping Series Part 1: Door to Door Service Providers.Transportfolio. Mexico cross-border shipping. International business comes with many complications: differing currencies, variable exchange rates, languages, times zones, governing laws, and even different business objectives. When shipping across the U.S./Mexico When it comes to cross-border shipping, you measure success as compliant and timely completion of shipments across your entire supply chain.

Vietnam shipping and selling eCommerce guide

Vinculum

Vietnam is one of the up-and-coming destinations for shipping and selling your products through eCommerce. Shipping to Vietnam. Before venturing into the Vietnam eCommerce industry, the entrepreneurs should be aware of the shipping formalities, the country’s restrictions, and the like.

8-Step Importing Guide For First Timers

EMERGE App

Here, landed cost includes the original price of the product, transport fees, customs, duties, taxes , insurance, currency conversion and handling fees. These samples and their shipping will cost you. During dispatch and packing to ensure the right goods and quantity are shipped out. At the dock to ensure that the correct goods are loaded and shipped. International Currencies & Taxes. Shipping Agent. Introduction.

7 Avoidable Data Errors in Your Supply Chain Data

Kinaxis

Currency. You’ll need currency conversions at sales points, but you’ll also benefit from accurate currency conversions at your assessment and planning levels. For example, tracking revenue in each location’s currency helps you to assess those values within that market context. Failing to accurately convert costs into the same currency as the price for a product can lead to inaccurate margin calculations and erroneous profit values.

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Lost in Translation-Incorporating Consumer Demand into your Supply Chain

The Network Effect

A few years ago, a news report came out of China stating that they were going to put an end to pegging the renminbi (China’s domestic currency) against the U.S. This was a long awaited announcement that completely shocked the global currency markets sparking massive trades out of the U.S. dollar into Asian currencies. currency traders went into a selling frenzy. It’s interesting how a small mistranslation can drastically change the intended meaning of a word or phrase.

Global Shipping Trends: What to Expect in 2018

CH Robinson Transportfolio

Overall, 2017 has been a good year for the ocean shipping industry. It’s a big switch from 2016, when the bankruptcy of Hanjin, one of the largest container shipping providers, forced everyone to confront how volatile this industry really is. There is a lot to think about and consider, with companies offering platforms, visibility, advance manufacturing, automation, e-commerce, crypto-currencies, and digital marketplaces. Global Forwarding Carrier Alliance Ocean Shipping

8-Step Importing Guide For First Timers

EMERGE App

Here, landed cost includes the original price of the product, transport fees, customs, duties, taxes , insurance, currency conversion and handling fees. These samples and their shipping will cost you. During dispatch and packing to ensure the right goods and quantity are shipped out. At the dock to ensure that the correct goods are loaded and shipped. International Currencies & Taxes. Shipping Agent. Introduction.

Cross-Border E-Commerce: Growing Fast, But Still a Messy Reality

Talking Logistics

It’s part of the reason why Descartes acquired ShipRush last year, a provider of e-commerce multi-carrier parcel shipping solutions. Global Trade Retail Supply Chain & Logistics Trends Transportation Management Systems cross-border e-commerce customs compliance Descartes Systems Group e-commerce parcel shipping Pitney Bowes ShipRush UPS

The Basics of Clearing Customs with Christopher Wall

The Logistics of Logistics

If shipping by ocean, the customer provides an ISF (f.k.a. Ship to Party. The total cost of goods in the currency payment was made. The Basics of Clearing Customs with Christopher Wall. Christopher Wall and Joe Lynch discuss the basics of clearing customs.

Top Ocean Carriers

The Logistics of Logistics

The article also provides the number of ships and the latest news on each company. Pricing will vary depending on many factors including destination, service fees charged by the port, season and currency. Given all the variables, shippers might be well served by hiring a 3PL (like the one I manage) to help them with their ocean shipping. China Shipping – www.chinashippingna.com. Mediterranean Shipping Company SA (MSC) – www.mscgva.ch.

A Blockchain Primer for Logistics and Supply Chain

Techgistics

Bitcoin is a digital currency that enables peer-to-peer instant borderless transfers of value, verifiable by anyone on a distributed public ledger, without the need for intermediaries (like a bank or Western Union). These tokens can then be converted to their currency of choice once rewarded. Shipping supply chain decentralized logisticsThe blockchain is a fascinating technology innovation that has the potential to disrupt many different industries.

This Week in Logistics News (October 26-30, 2015)

Talking Logistics

Wal-Mart Won’t Promote Free-Shipping Deals Over Holidays (WSJ – sub. Consumers place a high premium on free shipping when shopping online, but as folks in the logistics industry know, there is no such thing as free shipping — somebody has to pay UPS, FedEx, and USPS, and those carriers are raising their rates. Perhaps that is why Walmart is going against the grain and offering free shipping only to online orders that exceed $50.

The 5 step guide to a winning cross border commerce strategy

Vinculum

The logistics of expanding your shipping are of course very important and shipping will be an important part of your strategy. ECommerce merchants and suppliers need to keep up to date with national and international regulations regarding shipping, transportation and returns.

Nucleus Research Publishes “The Value of BluJay’s TMS for Forwarders” Report

BluJay Solutions

Nucleus has found that customers adopted the solution to quickly digitize and automate their shipping processes. Combining order management and invoice processing capabilities, BluJay TMFF provides visibility and control over the entire order-to-cash cycle.

Improving Global Freight Process Management

Talking Logistics

There are many reasons for this including a multitude of additional service providers, currency and language conversions, import and export compliance restrictions, a lack of supply chain data, and the confusing nature of working with and managing disparate technology systems across various global locations. It is a challenge to access and understand the various languages, city naming conventions, and currencies used by various vendors.

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What Is the Future of and Trends in E-Commerce Logistics?

Cerasis

This would include the use of digital payment methods and currencies. Delivery process automation includes the use of drones and driverless vehicles to automate the delivery process, but it also includes the use of robotics in order fulfillment with them warehouses and automated shipping processes. Shippers Streamline Shipping, Eliminating Middlemen.

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How to Become a Better Exporter in 6 Steps

EMERGE App

So, as a busy exporter, you’re either shipping your Made in USA goods outside of the States or count American buyers among your biggest customers outside of your country. Landed costs are expenses that need to be paid when you ship products from one country to the doorstep of the customer in another country. Assess Shipping Costs and Avoid Customs Delays. Accurate Calculation of Shipping Costs. But how many products can fit in a standard shipping container?

What Today's Market Tumble Means for Your Supply Chain

Elementum

Other developing economies are expected to devalue their currency, meaning that the dollar will strengthen. Consider your existing production locations and the changes in pricing, and whether it would make sense to shift your production towards devalued currencies. Currency devaluation allows manufacturers to tap into deeper markets. Consider changes in shipping costs: with the falling price of oil, can you afford to ship products further if you save money on production?

China 101

5 Ways To Improve Your Import-Export Business Now

EMERGE App

Manage Multiple Currencies. It’s a given that you’re dealing in multiple currencies in your import-export business. It’s possible but very challenging to deal with different currencies if you’re still using paper or spreadsheets in your business. One good reason to use a software solution is to manage multiple currencies for your customers, suppliers, sales and financial reports. This is the currency used by your business. Introduction.

The Messy Reality of Cross-Border E-commerce (Thoughts on UPS Acquiring i-parcel)

Talking Logistics

In addition to language and currency considerations, there are many other factors that come into play, including cost factors (duties, taxes, brokerage fees), customs compliance requirements (product classification, restricted party screening, import/export documentation), and complying with the address formats of destination countries to prevent delays and other issues with last-mile delivery. And here are a couple Twitter posts: Anyone use i-parcel before for shipping?

13 Reasons Why (Wholesale) Small Business Fail

EMERGE App

When you have purchase orders from customers flooding in and you’re shipping out your products at high volume, and together with the lack of labor to process all your paperwork, it’s really easy to miss invoicing a few purchase orders or two that you shipped out. Sudden Fluctuation In Currency Exchange Rate. Do make sure that you leave enough margin for currency fluctuations. Skyrocketing Shipping Cost. Business is tough as s**t.

Blockchain and Supply Chain Analytics: Impact of Small to Large Supply Chains

Cerasis

This is an essential step in taking advantage of blockchain technologies, especially cryptocurrencies, which some consumers and supply chain partners will be using within the next few years as a primary currency. Blockchain’s ability to identify the complete history of a product, as well as analytics to denote problematic operating and shipping processes, can alleviate the concerns over a counterfeit product and ensure all raw materials and components are sourced properly.

Three Pros and Cons of Selling on Walmart Marketplace

SupplyPike

Revenue (constant currency) $125.8 Operating income (constant currency) $5.0 $5.2 Walmart’s 2019 Q1 performance indicated a 37% rise in online sales In 2019, Walmart pumped more than $1 billion into digital marketing Walmart has six eCommerce distribution centers that along with in-store pickup/ship from store services for eCommerce orders The Walmart app had the highest number of downloads on Black Friday 2019 More than 110 million shoppers use Walmart.com every month.

Landed Cost – Landed Cost Formula + Calculators

EMERGE App

Landed cost is the total expenditure involved in buying a product and shipping charges for importing it to your warehouse. Apart from the cost price of the product, landed cost is made up of different charges like customs duties, currency conversion, insurance and other costs up to the destination store. Product cost. + Shipping : Costs associated with crating, packing, handling, and freight. If the shipment is imported overseas then custom duties and currency factor.

This Week in Logistics News (March 21-25, 2016)

Talking Logistics

One of my predictions for 2016 was that cross-border e-commerce would become the next frontier for shipping and logistics growth. From the article : Pitney Bowes is betting on cross-border e-commerce, where consumers in one country buy products online from retailers in another…Through Borderfree, Pitney Bowes handles transactions for dozens of retailers, including translation, calculating customs duties, currency conversions and finding the cheapest local delivery service.

International Ecommerce Selling: 6 Factors to Consider Before You Get Started

ShipBob

As long as your international shipping strategy is set up to ensure you’re profitable and keep logistics costs down, there’s a lot of unmet potential in expanding across the globe. . It’s important to know what products can be imported, if expansion will lead to profit, and if you’ll need to find fulfillment resources that can help you navigate each country’s local laws, taxes, and shipping regulations. Pre-calculate shipping costs. International shipping discounts.

Blockchain can make global supply chains more efficient and secure

The UCLA Anderson Global Supply Chain Blog

There are two sides of a bitcoin: a cryptocurrency that enables anonymous individuals to facilitate transactions using a decentralized digital currency without a middleman (such as a bank or credit card company). [1] Also, the private blockchain solution is designed to help reduce fraud and errors, reduce the time products spend in the transit and shipping process, improve inventory management and ultimately reduce waste and cost. Christopher Tang.

Blockchain can make global supply chains more efficient and secure

The UCLA Anderson Global Supply Chain Blog

There are two sides of a bitcoin: a cryptocurrency that enables anonymous individuals to facilitate transactions using a decentralized digital currency without a middleman (such as a bank or credit card company). [1] Also, the private blockchain solution is designed to help reduce fraud and errors, reduce the time products spend in the transit and shipping process, improve inventory management and ultimately reduce waste and cost. Christopher Tang.

This Week in Logistics News (May 4-8, 2015)

Talking Logistics

Growing Shipping Alliances Are Straining Major U.S. In addition to language and currency considerations, there are many other factors that come into play, including cost factors (duties, taxes, brokerage fees), customs compliance requirements (product classification, restricted party screening, import/export documentation), and complying with the address formats of destination countries to prevent delays and other issues with last-mile delivery. Ever get a song stuck in your head?

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Supply Chain: Learning How to Dance

Supply Chain Shaman

Their world view is currency-based planning at a brand level while supply chain planning is volume-based at an item/location level. (As As companies become more mature, the definition of location changes moving from a ship-from location to a ship-to-location to be more customer-centric.). My aged hand drapes the barre on the celebration of Global Ballet day.

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Moving Forward with Blockchain in the Supply Chain

Talking Logistics

The digital currency called Bitcoin has been in the news recently as its value has skyrocketed to over $6,500 per coin, with speculators pouring money into exchanges hoping to make an easy profit. To incentivize more computers to become part of a blockchain network , making it more robust, members can earn tiny amounts of digital currency (such as Bitcoin) for verifying and processing transactions.