LTL to Intermodal Shipping: How to Find and Eliminate Freight Spend Black Swans

Cerasis

For freight, managing black swan events, like risk mitigation , means finding problems that are on the verge of causing disruption and taking advantage of resources to minimize their impact. Shippers need to know why freight black swans are increasing, how using LTL to intermodal shipping options can reduce their incidence, and a few best practices to keep the use of intermodal from becoming a black swan itself. Understand freight classes and bands. Freight LTL

Vendor-managed inventory and distribution planning in the food and beverage industry – here’s something to chew on

Kinaxis

Among the many supply chain initiatives taking place today, vendor-managed inventory (VMI) has become an increasingly effective process and business model to help organizations share risk and information between vendors and customers — while benefitting from lower stockouts, reduced uncertainty and lower costs. What is vendor-managed inventory? The benefits of the vendor-managed inventory process include: Enhanced visibility for vendor. Maintaining optimum inventory levels.

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How to Lower Your Ocean Freight Costs!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Ocean freight article and permission to publish here provided by Katherine Barrios at xeneta.com. Freight forwarders and shippers/BCO s are on a constant quest to have a better understanding of their ocean freight costs and ultimately have larger margins. Freight costs are considered by many forwarders and shippers to be a major part of their total shipment cost. Here are 15 tips for lowering ocean freight costs.

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Is Freight Broker TMS Accurate? No. It's More a Freight Broker Operating Business Ecosystem

Turvo

Freight brokers face a perilous future of uncertain profitability. According to TruckingInfo , “gross margins and revenues were down for freight brokers in the third quarter of 2019, but cost reductions allowed brokers to stay profitable.” In response, more companies want a freight broker TMS. Describing a system of use as a freight broker TMS is not the most accurate description. Among freight brokers, gross margins fell to 16.1% Freight Broker TMS

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions. What is inventory revaluation? Inventory revaluation is the adjustment of the costs of inventory to reflect changes in the recorded cost. Your inventory becomes obsolete.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. A means of optimizing Supply Chain performance in which the manufacturer is responsible for maintaining the distributor’s inventory levels. The distributor maintains the inventory plan. Ask for copies of documents.

What Is an Inventory Management System & Its Role in Omnichannel Fulfillment?

Veridian Solutions

Supply chain leaders often interchangeably refer to both a warehouse management system and an inventory management system as one and the same. However, systems used to manage inventory refer to the combination of technology, including hardware and software, for the following: Product identification Product matching to orders Data analysis Product labeling and management Documentation Reporting . Challenges of Limited Inventory Management Capabilities.

Why the Right Strategy to Managed Inventory Hinges on Clear, Concise Communications

Turvo

A managed inventory depends heavily on teams and leaders that can communicate with each other to avoid operational issues, overstocking, or worse, running out of inventory when the customer is ready to buy. It all makes communication a vital part of maintaining a managed inventory.

What is Web Based Inventory Management Software?

EMERGE App

You run a lean business model with minimal overheads and using web-based inventory management software plays a big part in this. And you expect the same standard for inventory management software. What to Expect from Web-Based Inventory Management Software. The market for inventory management software is diverse and varied unlike, say, accounting software that is based on international accounting and reporting standards. Introduction.

How Shipping Software Innovation Led a Technology Company Into Freight Management!

Supply Chain Game Changer

Our CEO Kurt Johnson explains, “Our customers want one login for all logistics management, including inbound and outbound freight across parcel, LTL, FTL, ocean, and international air. Our fast growth validates our vision of creating an easy to use logistics platform that seamlessly integrates into a shipper’s current warehouse and inventory workflows.” You may require a spot quote for freight outside your current shipping class or lane. Subscribe Here!

7 Core Competencies for Optimizing Global Transportation and Freight Spend

3rdwave

Managing a global supply chain network requires the ability to manage and control both global transportation execution and the associated freight spend. While global freight cost varies significantly by industry and transportation mode, it is a major cost component of internationally sourced products. The 7 Core Competencies for Optimal Global Transportation and Freight Spend Management. Automated Freight RFQ (Request for Quote) and Contract Management.

Supply Chain Scope: New Study Shows Rise in US Inventories; California Estimated to Improve Freight Efficiency by 25% in 2030

Arkieva

A new study by the SupplyChainDigest analyzing the main components of working capital: Days Sales Outstanding (DSO), Days Inventory Outstanding (DIO), and Days Payables Outstanding (DPO) revealed an uptick in DIO. Sustainable Freight Action Plan for California is estimated to Improve Freight Efficiency by 25% in 2030. Targets for 2030 Include: Improve freight system efficiency 25 percent by 2030. California Sustainable Freight Action Plan.

7 Core Competencies for Optimizing Global Transportation and Freight Spend

3rdwave

Managing a global supply chain network requires the ability to manage and control both global transportation execution and the associated freight spend. While global freight cost varies significantly by industry and transportation mode, it is a major cost component of internationally sourced products. The 7 Core Competencies for Optimal Global Transportation and Freight Spend Management. Automated Freight RFQ (Request for Quote) and Contract Management.

Guest Blog: 13 things you need to know about freight forwarding

NC State SCRC

He shares some interesting information about freight forwarding, that anyone in logistics should be aware of. Freight forwarding is one of the most widely used methods of international transport for both business and personal use. Freight forwarding companies, like the International Logistics Centre, coordinate the shipment of goods from one destination to another using a range of carriers, including air freight , ocean freight , road fright and, in some cases, railway freight.

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Transport Management System: Making your Logistics Supply Chain Successful

20Cube Logistics

Not only that, it saves time and money while providing insights on key parameters: transportation planning and its execution, freight payment, business intelligence and disaster recovery management. Better inventory management : Manage orders and shipments in real-time.

4 Long Term Ways to Save with Less Than Truckload Freight Shipping

Cerasis

So, your organization has decided to explore the benefits and perks of less than truckload freight shipping. The dedicated TMS can further eliminate the frustrations that occur with typical full-truckload (FT) shipments and small package freight by combining all KPIs and available options into a single, comprehensive tool. Overall Costs of Less Than Truckload Freight Shipping. Few shipping processes can be more complicated than managing Less than truckload freight shipping.

Bitcoin: A New Supply Chain Operating System?

Talking Logistics

As Casey and Vigna put it, “we imagine bitcoin as some sort of digitally rendered equivalent [to a paper dollar bill], much as a Word document is a digital stand-in for a physical page of text.” Imagine a bitcoin being a unit of inventory and a digital wallet (“bitcoin address”) being an inventory-keeping location, such as a store, distribution center, or truck trailer. I have to admit, I’ve paid very little attention to all the buzz surrounding bitcoin these past few years.

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How GST (Goods and Services Tax) Has Affected Logistics in India!

Supply Chain Game Changer

From including transportation, warehousing, pool distribution, packaging solutions, inventory management, management consulting, logistics optimization and last-mile delivery the logistics sector complemented advanced supply chain facilities. The statistics have shown an increase in freight shipping volume to about 1325 billion and these numbers are predicted to double by 2025. Subscribe Here! Email Address. To Centralize or to Decentralize? That is the Organization Design Question!

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IMO 2020 is Here. Are You Ready?

Supply Chain Game Changer

Under this regime, the primary responsible party in the freight market will be the vessel owner or operator. New fuel will likely cost more than current bunker fuels and fuel surcharges will likely be added by carriers & its expected to increase freight rates by at least 15% to 30% in 2020. will also need to update freight tariffs accordingly. That represents a huge cost to the supply chain where each party tries to run lean, just-in-time inventory. Subscribe Here!

The Benefits of Using A TMS to Ship Small Package Freight

Cerasis

Consequently, the amount of paperwork and documentation needed to improve customer service on a small-package level is much more, which can be effectively organized, managed and accessed from within a TMS. In addition, a TMS can help small package shipper monitor and manage inventory levels, explains Larry Lewis of PARCEL Media. A transportation management system (TMS) is often considered an ideal choice for less-than-truckload (LTL) and full truckload (FT) shipments.

8-Step Importing Guide For First Timers

EMERGE App

You could do it manually but why do it when smart inventory management systems , such as EMERGE App , can automatically calculate landed costs for you? The supplier uses this document to record the sale and confirm their acceptance of the order. Decent inventory management software should be able to handle multiple currencies without any issues. This is traditionally used for sea freight but it has been used for other modes of transport as well. Introduction.

Electronic Data Interchange or EDI in Transportation: Breaking Down What it is and How It Works

Cerasis

Then we will cover in subsequent posts what are the benefits of using EDI in transportation along with a transportation management system, we will debunk a few myths, and then we will end the series by highlighting how a shipper at Cerasis used EDI to reduce freight expenditures and resources. According to Wikipedia and EDI Basics , Electronic Data Interchange (EDI) is the computer-to-computer exchange of business documents in a standard electronic format between business partners.

Capitalising on Supply Chain Digitisation with Robotic Process Automation – 10 Areas of Opportunities – LogiSYM August 2020

The Logistics & Supply Chain Management Society

Inventory Management. Regardless of how efficient and effective, all supply chains carry inventory. The bullwhip effect refers to increasing swings in inventory in response to shifts in customer demand as one moves further up the supply chain. Freight Management.

Intelleflex Announces Cellular, GPS-equipped RFID Reader & Cloud-based ZEST™ Data Services Platform

Supply Chain Network

These losses occur because supply chains have inherently lacked on-demand access to actionable data that enables real-time decision-making about a product’s freshness and quality and documents the freshness and safety of delivered products. To achieve full efficiency, the supply chain needs secure, accurate and timely data on the inventory status and condition of its products. All other trademarked names in this document are the properties of their respective owners.

8-Step Importing Guide For First Timers

EMERGE App

You could do it manually but why do it when smart inventory management systems , such as EMERGE App , can automatically calculate landed costs for you? The supplier uses this document to record the sale and confirm their acceptance of the order. Decent inventory management software should be able to handle multiple currencies without any issues. This is traditionally used for sea freight but it has been used for other modes of transport as well. Introduction.

What is a 3PL & How Can They Benefit Your Business?

CH Robinson Logistics

When it comes to transportation, 3PLs can engage carriers, consolidate less than container load (LCL) or less than truckload (LTL) freight , keep track of freight payment and insurance documents, and work with private fleets. And with connectivity to various phases of supply chain operations, 3PL providers are often able to provide real time visibility to your inventory as it is in motion. Evaluate your organization’s inventory and typical business volumes.

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PINC Acquires RailcarRx

PINC

Combining powerful execution functionalities such as electronic documentation, analytics, billing, rating and carrier management with real-time visibility, the platform is well-positioned to solve multiple transportation challenges in the supply chain industry.

Is Google the most innovative supply chain company in the world?

Freightos

The overall impact of mobile has been well documented in the press. Inventory management and replenishment as well as reverse logistics can now be managed by mobile as well as payments. yellowbox]Check out where the future of online sales for the freight industry is heading with this free white paper.[/yellowbox]. This, in turn, could reduce shipping and air freight volumes. Freight Insights Logistics and Supply Chain Technology Series News

The Digital Transformation in Logistics: Technologies, Barriers and Predictions!

Supply Chain Game Changer

Operating on three levels — i.e., connected hardware, infrastructure which facilitates data exchange and processing and the software tier, — IoT blurs the line between the digital and physical , as virtually any object such as a delivery vehicle, picking cart or inventory items can potentially become trackable. Furthermore, IoT solutions enable businesses to assess demand based on historical data and automate inventory replenishment. Route & freight cost optimization.

The Ultimate Guide to Pick and Pack Methods!

Supply Chain Game Changer

Good inventory management and the right pick and pack software will help you ship orders with maximum speed and accuracy. Your inventory storage strategy and your pick and pack methods are key here. You might organize your inventory the way you organize your closet. Inventory Storage Strategies. When it comes to managing your inventory, however, throw intuition out the window. If you started out small, you probably initially stored your inventory like with like.

4 Quick Tips for Effective Holiday Shipping

Freight Center

Everything from pre-packing orders to maintaining the appropriate inventory levels of packaging material pays off more than you think in the long run. Weight and freight classifications are also common reasons billing adjustments occur. Improperly recorded or weighed cargo will result in costly reweighs and change in freight class categories. Make sure a proper scale is used while weighing your freight and to document the process of packaging and weighing.

13 Amazing Logistics & Supply Chain Mobile Applications

EazyStock

These apps help companies achieve every business process from tracking inventory and shipments to booking meetings with clients to tracking tasks and projects. EazyStock – Inventory Optimization Software. With easy API integrations with any Enterprise Resource Planning (ERP) tool, inventory managers can automate procurement and replenishment processes that historically were guesswork cutting into profit margins. The system makes forecasting and inventory planning easy.

A Case Study in Reverse Logistics Optimization!

Supply Chain Game Changer

The application of advanced forecasting and planning methodologies improve inventory management in a critical, high-volume repair business, dramatically reducing costs and fulfillment cycles while improving customer satisfaction. Difficulties forecasting demand in a high-volume repair environment caused inventory costs to skyrocket. Inadequate planning and execution resulted in excess and obsolete inventory and poor utilization of warehouse space. Subscribe Here!

Keep Your Cargo Out of Danger: Best Practices for Transportation Risk Management

CH Robinson Transportfolio

Incidents during transportation are common: from severe weather conditions or collisions that result in loss of cargo; to theft, counterfeiting, political unrest, labor disputes, documentation failures, mechanical problems, etc. As production recovers and factories reopen, many importers from China will need to consider expedited shipping services in order to restock inventory. Freight Services Global Forwarding Global Transportation Supply Chain

Strong Supply Chains Required For an Economic Rebound: Six Steps To Take

Supply Chain Shaman

As I watch the news and work on client documents in my quarantine, I try to manage my emotions. Border crossings will be tough, and the infrastructure for the ocean and air freight tumultuous. Instead, use demand sensing technologies to detect patterns with minimal latency into inventory requirements. Consider technologies like 1010 Data in consumer goods in conjunction with demand sensing technologies to replace rules-based consumption of demand into an inventory signal.