Ocean Freight Procurement and Going with the Stream

Freightos

The annual fixed-price contract is the current go-to for ocean freight procurement. Fixing a price is almost futile in a volatile market, and ocean freight now has much more volatility (both frequency and magnitude) than most other commodities. Remember iPods?

These 7 Industrial Procurement Trends will Impact Supply Chain & Logistics in 2018

Cerasis

Procurement must never be an afterthought in any enterprise. Supply chain professionals must also know how they will be shipping freight. The answers to these questions lie in understanding a few of the top industrial procurement trends to expect in 2018. Companies Will Seek New Ways to Use Technology in Procurement. The global supply chain creates many challenges and opportunities in procurement. Integrated Procurement and Payment Systems Simplify the Process.

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX)

Freightos

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX). The underlying premise dates back further, even for freight. By 1985, the Baltic Exchange published its first daily dry bulk freight index. A New Freight Index.

Procurement Challenges Condensed

Claritum

Claritum Article - Procurement Blog. I took on the challenge of writing a condensed version of all the current Procurement challenges. I believe the issue with these articles is the broad range encompassed by the word Procurement and the constant change within this domain.

How Freight & Transportation Data Can Trim Your Transportation Spend

Cerasis

When you want to drive down your logistics and transportation spend, the very first thing that you need is freight and transportation data. Accurate freight and transportation data is particularly important. Identify factors that impact your freight shipping costs.

How to Plan for Common Disruptors in Ocean Freight

Talking Logistics

Peak season for ocean freight shipping is underway. This blog examines the “red” times, like the roughly three-month period we have just entered that is historically one of the regular disruptors in the ocean freight market. Robinson offices, procurement teams, and customers.

How Freight Disrupted Itself: The View From Within A Changing Industry

Freightos

How Freight Disrupted Itself. In the last year, a new dynamic has begun to reshape the freight industry. Phil knows his (freight) stuff. In his PhD thesis he developed a product to secure ocean freight rates with financial derivatives. Declining Freight Rates.

Differences Matter in EU and U.S. Transportation Procurement

TMC

As companies expand globally through mergers or organic growth, many are faced with the decision whether to combine logistics teams and apply a universal truckload procurement strategy across multiple regions. Truckload Procurement. Truckload Procurement.

Freight and Logistics – Breaking the Traffic Jam that is your Supply Chain!

Supply Chain Game Changer

And unless you plan and manage your Supply Chain well you are going to end up with Traffic Jams on those highways especially at “Rush Hour” The Black Friday/Cyber Monday period is a great example of a Rush Hour. Freight #Logistics #SupplyChain #SCM #Distribution #Transportation.

5 Differences Between Europe and U.S. Transportation Procurement

TMC

As companies expand globally through mergers or organic growth, many are faced with the decision of whether or not to combine logistics teams and apply a universal truckload procurement strategy across multiple regions. Truckload Procurement. Truckload Procurement.

The Disintermediation of the Supply Chain!

Supply Chain Game Changer

Drop shipping is another example of eliminating unnecessary and redundant material movement and transportation. The growth of online shopping is a great example of a disintermediation strategy in action. Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer.

Transportation Procurement: Still Standing on the Sidelines?

Talking Logistics

Have shippers taken their freight out to bid or are many of them still standing on the sidelines? Tim says that, “As the year went on, however, our customers were finding that their routing guides were broken, carriers were not living up to their commitments, and more of their freight was going to the spot market. As the dust has settled in Q1 of this year, many shippers have now gone out to bid through procurement processes. Procurement’s Not the Only Answer.

Big Data, Dynamic Freight Pricing and Bid Savings (maybe)

Cerasis

Editor's Note: This is a blog from our friend Augie Grasis who shows us how big data can work to our advantage with dynamic freight pricing. Such is the case in the LTL freight industry as well. . The most progressive carriers are tracking their every move by collecting data about every aspect of their business and every piece of freight they move. One example of the utilization of Big Data is dynamic pricing of LTL freight. Data Freight

How to Avoid Bottlenecks in Your Supply Chain!

Supply Chain Game Changer

For example, a common source of these issues is a lack of communication. supplychainmanagement #logistics #procurement. Business Process Optimization Freight and Logistics Guest Blog Post Procurement Supply Chain Management LogisticsSubscribe Here! Email Address.

Blockchain Comes to the Freight Industry

Supply Chain Brain

Fuller, who is also chief executive officer of freight market analytics provider FreightWaves , saw the suitability of a technology that originally was created to support the trading of Bitcoin and other cryptocurrencies. There was a perfect storm in terms of interest in the technology and how it would potentially impact the freight industry,” Fuller says. As it stands today, however, blockchain isn’t a solution that can be instantly embraced by the freight industry.

Can Sales and Procurement Ever be BFF’s?

NC State SCRC

The relationship between sales and procurement has always been a contentious one, and the idea of a friendship evolving between the two functions is laughable in the minds of many managers I’ve met with. Sales account managers accuse procurement of being purely price focused, and not recognizing the components of value. This situation does not always accrue – as there are cases where harmonious partnerships exist between sales and procurement.

Responsible Sourcing! Making Sustainability Happen for Real!

Supply Chain Game Changer

Responsible Sourcing isn’t just about sourcing and procuring goods and services in a more sustainable manner, but also about ensuring external suppliers are aligned and committed to the same principles and values. procurement #sourcing #purchasing. Subscribe Here! Email Address.

Solving Franklin’s Freight Dilemma: Cure or Prevent Disruptions?

Supply Chain @ MIT

This may be a great rule of thumb for life generally, but not necessarily for freight transportation. Is it more important to prevent disruptions from occurring by building robustness into a freight network (i.e. The net effect is a more resilient freight transportation plan.

Do You Know When it’s Time for a Freight Review?

Logistics Bureau

Choosing freight carriers is not the easiest of tasks, so it’s understandable why companies often overlook the need for a freight review , even when such an undertaking is long overdue. Read and Heed the Signs that Freight Review is Due. Changes in freight-rate structure.

Putting a Shine on Supply Chain’s Image!

Supply Chain Game Changer

Hey Procurement! Supply Chain includes functions such as: Procurement and Purchasing, where a lot of activity is associated with placing and managing purchase orders and dealing with Suppliers and all of the issues that come with Suppliers. That means that the ability of the Supply Chain/Procurement team to negotiate successfully and competitively has a profound impact on the profitability and competitiveness of any company. Subscribe Here! Email Address.

It’s Time to Welcome The Supply Chain CEO!

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. In the past few years, there have been more examples of Supply Chain professionals stepping not just into the C-suite, but into the coveted Chief Executive position itself. Subscribe Here! Email Address.

7 Essential Attributes of Strategic Supplier Partnerships!

Supply Chain Game Changer

Whether the phrase refers to sourcing, procurement, relationships, or other matters, its use is prevalent. One example is in the world of out-sourced software development. Leadership #Business #SCM #SupplyChain #Procurement #Purchasing. Subscribe Here! Email Address.

Supply Chain Personified! The Link Between Your Company Silos!

Supply Chain Game Changer

The procurement of materials and goods and services, and the timing of this procurement, payment terms with suppliers, and the buildup and disposition of inventory all dramatically impact the amount of cash that a company has and uses. Subscribe Here! Email Address.

Top 10 Global Supply Chain Risks

Supply Chain Game Changer

Risks exist in land, air and ocean freight. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value. This example reflects only one area of concern and changing political affiliations and governing parties in countries around the globe will increase the risk to trade. For example, consider launching apprenticeship programs, encouraging supply chain careers among secondary-school students and engaging with the community.

Time to Squeeze Carriers for Better Rates?

Talking Logistics

For example, the ATA Truck Tonnage Index dropped 1.4 There was a deceleration in freight volumes during the second half of 2015 which continued into the first month of 2016. So, that tells me that the inventory situation continues to weigh on truck freight volumes. The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, dropped 0.4 Leading Practices in Transportation Procurement.

Are These the 5 Biggest Fallacies in Supply Chain or is it Fake News?

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. For example, if a recession hits unexpectedly, demand will be way lower than expected and you’ll likely have tons of excess inventory. For example, if a company is measuring their Procurement function on price, and they source materials based on price without emphasizing quality, this can harm manufacturing will still making it look like Procurement is succeeding. Subscribe Here!

The Agile Supply Chain! Why Agility is Trumping Lean!

Supply Chain Game Changer

For example, the use of a computerized system to automatically generate orders and robotics to pick these orders would refer to leaving concepts in the supply chain. For example, a supply chain entity in fashion or textile printing may not print the actual materials until those materials have already been ordered by a consumer. Selected as one of the Top 75 Supply Chain Blogs, and one of the Top 25 Procurement Blogs, on the Internet. Subscribe Here! Email Address.

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The Data Behind Amazon’s Logistics and Fulfillment Play

Freightos

These examples are from retail, but I sense that the same customer empowerment phenomenon is happening broadly across everything we do at Amazon and most other industries as well. And As For Global Freight…. Freight Insights Logistics Technology

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Common Mistakes in Importing and Exporting! (Infographic)

Supply Chain Game Changer

One good example is with respect to the lack of knowledge in import and export regulation. Selected as one of the Top 75 Supply Chain Blogs, and one of the Top 25 Procurement Blogs, on the Internet. SCM #SupplyChain #Distribution #Logistics #Freight #Trade #Import #Export.

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Insights for Procuring a TMS in a Large Company

TMC

Insights for Procuring a TMS in a Large Company. The business models and associated markets can vary widely as well, for example if the company has grown through acquisitions. Take, for example, situations where multiple suppliers send shipments to a cross dock on the inbound side.

Finding Truckload Capacity: Insights on Managing the Spot Procurement Process

Talking Logistics

For example, here’s some data from Wolfe Research published earlier this year: When capacity gets tight, shippers tend to leverage the spot market more. If you’re going out to the spot market, you’re really under the gun to get your freight covered, so having that gray area — the ability to waiver some of your stringent due diligence [requirements] — really comes into play. . Data from various sources indicate that truckload capacity is starting to tighten.

Does Canada Need a Chief Logistics Officer?

Supply Chain Network

All of the above types of services could also benefit from closer scrutiny and elimination of redundancy, standardization and joint procurement activities and practices. Some specific examples where this approach might be effective include: • Supply Chain Data Collection.

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Disruption in the Freight Brokerage Industry: How to Secure Your Brokerage’s Future

Parade

Freight brokerages and logistics companies with capital are aggressively purchasing other companies with technology assets— this behavior has been accelerating, with a different acquisition or merger taking place every two weeks. big disruption in the freight brokerage industry is coming.

Insights for Procuring a TMS in a Large Company

TMC

The business models and associated markets can vary widely as well; for example, if the company has grown through acquisitions. Take, for example, situations where multiple suppliers send shipments to a crossdock on the inbound side.

Going Beyond Brokerage: How North American Capacity Solutions Can Go to Work for You

Talking Logistics

While these approaches can certainly deliver a significant return on investment (ROI), other strategies that can positively impact their transportation network are often overlooked – for example, thinking more strategically about capacity. It may be time to evaluate your transportation network and approach to procurement and make the move from simply fixing logistics problems as they present themselves to a more strategic, scalable model derived from analytics and not simply rates.

Responding to Tight Capacity and Rising Costs in Transportation

Talking Logistics

Tim Dalton, Director of Professional Services at BluJay Solutions , discusses the following questions and more in this timely and informative episode: Did the warning signs that emerged last year prompt many shippers to initiate a procurement engagement in 2017?

Insights for Procuring a TMS in a Large Company

TMC

The business models and associated markets can vary widely as well; for example, if the company has grown through acquisitions. Take, for example, situations where multiple suppliers send shipments to a crossdock on the inbound side. Having a centralized corporate procurement function already in place is valuable. Having a team that understands the unique demands of freight management enables them to make more informed TMS buying decisions.