Digital Procurement Improves Supply Chain!

Supply Chain Game Changer

Digital Procurement article and permission to publish here provided by Katherine Barrios of xeneta.com. The Hackett Group has recently released their analysis of their procurement benchmarking database. Important Digital Procurement Trends. What Is Digital Procurement?

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.

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Chainalytics and Drewry partner to create Ocean Buying Group for small and medium sized shippers

CHAINalytics

Atlanta, GA, 02 March 2018 – Chainalytics, a global leader in supply chain consulting, and Drewry, the global shipping consultancy, have partnered to launch an innovative ocean freight procurement solution for shippers. Press Release Transportation Beneficial Cargo Owners Ocean Carrier Ocean Freight Procurement

Procurement – How to Enable Spend Aggregation!

Supply Chain Game Changer

Check out Procurement: The Spend Aggregation Obstacle Course! Aggregating your procurement spend for the purpose of delivering greater value is a sound objective. We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course! You may be trying to aggregate spend within your company or across companies, or you are trying to outsource this to a Group Purchasing Organization (GPO). Subscribe Here!

A Trucking Economics Lesson: How rates will respond to market changes in 2020

CHAINalytics

So much so that our freight benchmarking group developed a new … The post A Trucking Economics Lesson: How rates will respond to market changes in 2020 appeared first on Chainalytics. Blog Feature Freight Market Intelligence Consortium Supply Chain Consulting Transportation contract freight rates contract rates freight benchmarking Freight Rates Transportation Benchmarking transportation economics Transportation Procurement trucking

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. Seizing control of freight and transportation spend can improve operating income by five to 10 percent, and boost stock prices by 10 to 20 percent, according to an Accenture study, From a Shipper’s Market to a Carrier’s Market. Freight Invoicing Reports.

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. Just like streaming replaced that iPod as a better way of listening to music, ocean freight procurement now has a better way. But Does Fixed Ocean Price Procurement Need Fixing? Remember iPods?

How Does Procurement Create Value? Insights from CPO Speakers at Zycus Horizons Conference

Supply Chain View from the Field

In addition to the procurement executives, I also got to meet Captain Dick Phillips, the captain of note in the film “Captain Phillips” We had a chance to talk about his experience, and he also presented to the group about the incredible experience he went through. Chris Sawchuck from the Hackett Group interviewed three heads of procurement from three large companies, and asked an important question. Does procurement add to top line revenue.

[INFOGRAPHIC] The Future Of Procurement: What Is Your Role?

Cerasis

At Cerasis we work with our shipper customers who procure items every day and have needs for inbound freight management as they secure those products from their vendors. Increasingly, as we work with procurement folks at these companies, we are hearing that technology for better communication and to create more efficiency. The Future of Procurement is Driven by Technology. In 10 years, your day-to-day job in procurement might be radically different.

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.

Blockchain Comes to the Freight Industry

Supply Chain Brain

Just look at some of the names that have joined the Blockchain in Transportation Alliance (BiTA) since the group’s formation last August: FedEx , BNSF Railway , C.H. 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. For blockchain to become a viable tool for freight, commercial standards need to be put in place.

Oil & Gas Companies Focus on Eliminating Supply Chain Waste

Talking Logistics

In a recent webcast titled Critical Transportation Challenges in the Oil, Gas, and Petrochemical Supply Chain , Florian Dussler (VP of Americas at TRANSPOREON Group ) and I discuss this topic in more detail, including the core TMS capabilities companies should look for in a solution to begin their journey up the maturity curve: Procurement. Execution (Tendering, Dock Scheduling, Track & Trace, Freight Audit & Pay).

This Week in Logistics News (June 20-24, 2016)

Talking Logistics

April 2016 North American Freight Numbers. Cass Freight Index Report – May 2016. From a supply chain perspective, Brexit will have a ripple effect on procurement, trade agreements, customs, and other areas. And if the news from Werner Enterprises and Covenant Transportation Group this week is any indication, the industry remains in low gear. Late Tuesday, Covenant Transportation Group Inc.

Commodity (or Category) Management – What is your Buying Strategy?

Supply Chain Game Changer

Check out What Exactly Is Procurement? A well constructed Procurement Strategy will raise the value of the Supply Chain to your company. “Commodity Management” may also be referred to as Category Management, Strategic Procurement or Merchant Management for instance. I use the term Commodity Management to represent the strategic procurement of materials regardless of what specific industry or company vernacular you may use. Subscribe Here! Email Address.

Gartner’s 2018 Top 25 Supply Chains List! Is it Still Relevant?

Supply Chain Game Changer

I don’t for one second deny that the companies on the list have great supply chains, but there are so many advances in Supply Chain technology, talent, skills and capabilities that it is hard to believe that all of this excellence is restricted to the same group of 20 companies year after year after year. By definition the Peer group that is providing their Opinion scores is restricted to large companies voting on other large companies. Subscribe Here! Email Address.

Supply Chain Personified! The Link Between Your Company Silos!

Supply Chain Game Changer

When the organization is truly dysfunctional each of these functions works at cross purposes, finger pointing as to the deficiencies of other groups, and basically undermining the ability of the overall company to succeed. The term “Supply Chain” is more than just the name of the group that manages materials and logistics. And this visibility is enabled by, and provided by, the Logistics team within your Supply Chain group. Subscribe Here! Email Address.

This Week in Logistics News (November 5-9, 2018)

Talking Logistics

Robinson , Descartes Systems Group , MercuryGate , Transplace , Opus9 , Paragon , and TranzAct Technologies. Hub Group To Acquire CaseStack, Inc. Hunt Locked in Freight Revenue Dispute (WSJ – sub. Shipping Rates to Increase for FedEx Express, FedEx Ground and FedEx Freight Services. The minivan passed me as I was cycling up a never-ending hill, arms waving from open windows. The van pulled over a few hundred feet ahead, arms still waving from the windows.

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. But how do you know when it’s the right time to conduct a freight review? You’ve lost touch with (or have never really explored) developments in the freight service market. Changes in freight-rate structure.

Experts Choice Of Top Online Logistics Resources

Freightos

So much so that it is split into seven topics – aircrafts, airports, capacity and demand, carriers, freight trends, traffic and viewpoints. With over 60,000 monthly viewers, Transport Topics is a prime destination for freight buffs, especially those who specialize in trucking. 150 years of Lloyd’s helps back this new website, which includes frequently updated information on freight and shipping information. Ocean freight is split into 14! Freight Dawg.

Insights from MercuryGate User Conference 2014

Talking Logistics

Hope provided several examples, including MercuryGate’s tight integration with Freight Friend , which the company helped to launch in 2011. On the surface, Freight Friend has similar features to other online load boards. For additional insights on this topic, watch my recent interview with Hope on Talking Logistics, and my follow-up post, Finding Truckload Capacity: Insights on Managing the Spot Procurement Process. Tim Story, CEO, The Story Group.

How Can Advanced Sourcing Help Your Business?

EC Sourcing Group

There are many terms when it comes to all levels of procurement management, which is a smaller part of the overall supply chain. Many companies and organizations have delved further, looking to tools such as advanced sourcing optimizers; to streamline this part of procurement management.

What Exactly is Blockchain? And How Does it Work? (Infographic)

Supply Chain Game Changer

It is not known whether Nakamoto is an individual or a group of people. Selected as one of the Top 75 Supply Chain Blogs, and one of the Top 25 Procurement Blogs, on the Internet. SCM #SupplyChain #Technology #blockchain #AI #Iot #Logistics #Procurement. Freight and Logistics Procurement Supply Chain Management Technology AI Blockchain IoT Logistics SCM supplychainSubscribe Here! Email Address. Check out Blockchain in the Supply Chain is a Game Changer!

Sorry, I’m Not Sure: Supply Chain and Logistics Predictions for 2018

Talking Logistics

Achieving end-to-end supply chain visibility has always been (and remains) a top priority for companies, but in the past couple of years, the spotlight has been on a particular segment of the process: achieving real-time freight visibility. The real-time freight visibility space was particularly hot this year, with two major acquisitions completed in recent months ( Descartes acquired MacroPoint and Trimble acquired 10-4 Systems ). Source: Evan, Flikr. “I

Be more Strategic about Your Supply Chain Sourcing

CH Robinson Transportfolio

Do you know which carriers handle the majority of your freight? According to the Aberdeen Group’s report, How to Build a Strategic Sourcing Organization , there are five steps to follow when building your strategic sourcing program: Understand your spending. According to the Aberdeen Group, a strategic approach to sourcing can (and should be) applied to any part of your business if you want the best results.

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

Supply Chain Shaman

To adapt, I recommend that companies form two groups: Operational/Business Continuity Group. This cross-functional group (sales, procurement, manufacturing, and distribution) is an operational team to manage the day-to-day issues and exceptions in the supply chain. The design of the second group is to analyze and reformat the supply chain for economic recovery. Border crossings will be tough, and the infrastructure for the ocean and air freight tumultuous.

Do I Really Need Full Truckload Shipping?

Cerasis

However, shippers do need full truckload shipping, but they need to know how to take advantage of it properly to avoid ballooning freight spend and shipping costs. No freight plan will be safe from rate hikes, so shippers must understand more about how to take advantage of full truckload to keep freight spend in check. While LTL shipping is regulated by the National Motor Freight Traffic Association (NMFTA), full truckload freight rates depend entirely upon market variables.

BidMode to join the EC Sourcing Family

EC Sourcing Group

October 13, 2020 / EC Sourcing Group, a leading global provider of SaaS sourcing technology solutions, has announced its acquisition of procurement solution provider, BidMode, with full terms of the merger remaining confidential. About EC Sourcing Group. Morristown, N.J.,

Challenges and possible solutions for local seafood supply chains

Supply Chain View from the Field

Contracts and investments will be needed to drive standard pricing, and to ensure access to freight and other equipment. And we need to explore feasibility of establishing catch groups as cooperative business structures for small and midscale fishing operators. Food Supply Chains Local Food Systems Procurement Sustainability Supply Chain Economics Supply Chain Management Supply chain Relationships Sustainability

How Blockchain Could Create the 'Autonomous Container'

Supply Chain Brain

Swiss-based Smart Containers Group , which designs temperature-controlled containers for pharma shippers, among others, collects more than 1.2 The technology features chips that monitor temperature and humidity within a 500-meter range of an air-freight container. Smart Containers is preparing an initial coin offering (ICO) to support its use of blockchain for air-freight container monitoring.

Surviving Disruptions – an opportunity for supply chains to thrive with people and technology – LogiSYM July 2020

The Logistics & Supply Chain Management Society

A significant paradigm shift in procurement and inventory control is an emerging area of focus. The short-term strategy to build resilience, is to focus on three major elements, essential to keep freight moving. .

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Blockchain for the Supply Chain: Reality vs. Hype

Supply Chain Brain

All must agree to the precise form of that document before the release of international freight and the transfer of funds. At the same time, technical standards are needed to govern the various processes that are unique to freight transportation and other logistics-related services. Nevertheless, a working group under the aegis of ISO is developing standards for security, privacy and identity associated with the use of blockchain technology. “I

Should We Celebrate this Marriage?

Supply Chain Shaman

Examples include alternate sourcing, bill of material changes or alternate modes/routing between the planning, procurement and transportation.) The groups of supply planning, procurement and logistics operate within silos. Founded in 2000 as a high-tech consortium, the focus was the automation of procurement using a one-to-many network. To create a standard electronic booking system for the ocean freight industry.

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Gartner Top 25 Supply Chain List! Is it Still Relevant?

Supply Chain Game Changer

I don’t for one second deny that the companies on the list have great supply chains, but there are so many advances in Supply Chain technology, talent, skills and capabilities that it is hard to believe that all of this excellence is restricted to the same group of 20 companies year after year after year. By definition the Peer group that is providing their Opinion scores is restricted to large companies voting on other large companies. Subscribe Here! Email Address.

Top 5 Roadblocks to Effective Inbound Logistics Management

Cerasis

If your vendors do not understand your organization’s policies and procedures regarding inbound freight , how can they adhere to your needs? A Peerless Research Group (PRG) report indicated that up to 44 percent of supply chain entities do not actively have plans in pursuing or using a transportation management system (TMS), such as the Cerasis Rater. Approximately 54 percent of companies actively run metrics on inbound freight, but these metrics may be lacking.

Transforming the GCC Chemical Industry with Supply Chain Integration – LogiSYM September 2020

The Logistics & Supply Chain Management Society

Working closely with strategic teams and exploring implications for procurement, logistics and distribution, supply chain teams can better prepare for risks related to supply and demand. Only 17% of global chemical companies are “digital champions” (Boston Consulting Group) – also confirmed by GPCA on status of GCC chemical industry. Ocean Freight Visibility Spells new Opportunities for Supply Chains – LogiSYM September 2020.