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Mary O’Connell and Joe Lynch discuss the Bloomberg of Freight. Check Call gives insights into the world around 3PLs and freight brokers. Check Call gives insights into the world around 3PLs and freight brokers. Key Takeaways: The Bloomberg of Freight. Access to freight pricing insights. About Mary O’Connell.
Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supply chain disruptions, a robust procurement strategy is no longer optionalits essential. The right procurement strategy ensures that organizations: Mitigate risks before they escalate. Want to future-proof your procurement function?
Let’s take a closer look at how to turn these practices into action. Capturing carrier data gives you more visibility into your freight spend and enables you to make data-driven decisions that positively impact your business. Download the White Paper: Over the Road Freight Management Trends. Track Carrier Performance Data.
As consumer spending fell, the days of escalating ocean freight and extreme shipping variability eased this year. In the face of variability, this is two-to-six weeks too long to make allocation or procurement decisions. The traditional leader values cost reduction but is blind on how to value time. Build in-market sourcing.
CVSA-certified inspectors will commit a blitz of inspections across North America, creating a sudden strain on resources for both domestic and cross-border freight. The best way to avoid disruption is to source and have readily available resources to expand capacity at a moment’s notice. The overwhelming answer is “yes.”
Whether you''re a manufacturing company in China, a sourcing agent in London or a world''s leading company in Silicon Valley, we''re all in a global supply chain networks. That''s why we ask our experts a very simple question " How to improve the operational efficiency in global supply chain?
Shippers, despite all obstacles, are expected to reduce freight spending, drive efficiency, and improve customer service every year with incremental improvements year-over-year. Due to this awareness, freightsourcing is receiving increased interest from shippers. However, not all technologies are the same.
According to McKinsey & Company, procurement accounts for 50% to 80% of a company’s cost base. That’s why organizations zero in on strategies to achieve procurement cost reduction. The key thing to remember is that cost reduction in procurement isn’t just about slashing expenses.
While CPI is normally used within project management and earned value analysis, it has significant application and importance within supply chain contexts, particularly in procurement, logistics and warehousing. What contexts can it be used in and how, as well as the benefits of using cost performance index in supply chain contexts.
In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started? Do not worry!
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.
Problems with shipping documentation With nearshoring, cross-border shipping and international logistics heating up, documentation problems are a growing source of delays. It gathers data from across the supply chain, as well as external sources, to identify potential delay-causing events at the earliest opportunity.
Companies often push aside procurement compliance to focus on more pressing issues. No wonder—procurement often gets tedious and burdened with time-consuming processes. However, ignoring procurement compliance is like ignoring a ticking time bomb. Scroll down to find out: What is procurement compliance?
Yet ANOTHER capacity crunch in the freight industry as consumers purchase beverages at the highest rate of the year. Beverage season in freight terms typically arrives in mid-to-late May and runs through mid-July. This causes other freight sectors to see spot-market rate increases as capacity moves with the demand of seasonal sales.
Understanding how your Procurement and Supply Chain KPIs are performing isn’t just a nice-to-have; it’s essential for survival and growth. Why You Need Visibility of Supply Chain and Procurement KPIs? Running procurement and supply chain without metrics is like driving blindfolded.
I am a big believer in procurement getting involved as early as possible in new product development based on all the market knowledge available. The worst-case scenario is product engineering developing a new product, selecting a supplier and then telling procurement to get on with negotiation.
Bowman, SupplyChainBrain In the rush to adjust sourcing strategies in line with current trends in international trade, the answer might be to think small. And they can identify alternative sources in the event of a disruption in the primary supply line, whatever the cause. And the entire concept remains in its infancy.
The problem is fundamental: SAP builds enterprise solutions, but the organization lacks the understanding of how to develop and deliver networks. SAP Ariba started as an indirect procurement network and lagged the market in developing multi-tier process definition.) No network crosses over the source, make, deliver processes.
The Green Corridor: The Emissions of Work – How to Make a Green Working Culture by Timothy Foote , Founder of Susymbio In this month’s Green Corridor, I wanted to talk about the emissions generated by a workforce physically going to work. There are work life balance advantages to working remotely.
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! Procurement people are proud professionals.
Outsourcing–procurement, manufacturing and transportation– decreased visibility and increased data latency. Hence the conundrum for supply chain leaders of how to build end-to-end planning and evolve planning. . Companies want good plans, but they do not know how to define what good looks like. Reference Figure 1.
Yet the lack of attention and focus that Indirect Procurement is often given is inconsistent with the true importance of this area. Indirect Procurement takes a back seat to Direct Procurement unfortunately. But it is time for Indirect Procurement to stand up and be counted! The Importance of Indirect Procurement!
Learn more on how to overcome today’s supply chain challenges by securing the free guide, 8 Winning Strategies to Combat Supply Shortages. Thanks to container prices rising as much as 600%, money that could be used for advertising went to freight companies instead. Source: Consultancy.UK. Image source: Fortune.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed by Philip Ideson from Art of Procurement to discuss the impact of the Covid-19 pandemic on Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity.
There is no solution to optimize source, make and deliver together or drive bidirectional orchestration to execute trade-offs between functions automatically. The groups of supply planning, procurement and logistics operate within silos. To create a standard electronic booking system for the ocean freight industry. My dilemma?
The Causes of Stock Loss Sources of stock loss can include: Incorrect part movement Scrap with parts being dropped and damaged Shipping inaccuracy from warehouses and suppliers Manual mistakes in the processes Supplier performance Inaccurate forecasting Split shipments can also cause issues. Stock loss isn’t selective on item size either.
None of these is good for your business’s bottom line, which means it’s crucial to know what causes them and how to address them. For example, a common source of these issues is a lack of communication. supplychainmanagement #logistics #procurement. The post How to Avoid Bottlenecks in Your Supply Chain!
In business it is not uncommon to hear the words “Logistics Management” and “Freight Management” thrown around interchangeably. This is extremely important when you consider the tasks at hand, the skills required, and how to fill these types of jobs. What is Freight Management?
The report was published in the last month, and reflects some of the increasing challenges and disparities that exist between procurement and supply chain executives. One of the problems that often emerges in organizations is not only misalignment between procurement and supply chain, but also between senior executives and their managers.
Helen Atkinson, Managing Editor Report From DPW: What’s Next for AI in Supply Chain? More from this author Subscribe to our Daily Newsletter! Timely, incisive articles delivered directly to your inbox.
Ali Ghodsi, Co-Founder and CEO of Databricks indicated to the publication that this deal addresses a challenge that businesses face when considering deployment of AI agents, specifically how to integrate the data needed to deploy agents. This start-ups technology is based on the open-source database PostgreSQL.
Supply Chain Management In the ever-evolving world of freight and logistics, volatility has become the new normal. Procurement experts face transportation costs, customer demands, and high pressure on global container and air freight rates. But what does that mean for future strategies in procurement ?
Sourcing raw materials from Asia, coordinating freight with European logistics providers, or navigating distribution networks in the Americas cross-border operations rely on effective communication to make them happen. Procurement staff must send alternate sourcing orders.
At a recent industry conference, a shipper asked me many questions about transportation procurement, such as, “How do you best determine how long and how often to have transportation sourcing events?” Read more Why Benchmarking is the First Step to a Successful FreightProcurement Event.
By embedding analytics across logistics, sourcing, and fulfillment, businesses gain the visibility and foresight needed to stay competitive.Analytics-driven leadership is no longer a luxury; it’s the foundation of operational survival in todays volatile business environment.
Execution speeds are incredibly fast because expanding in the cloud doesn’t require lengthy planning and procurement periods. What you’re paying for are the space and resources in the cloud, but you’re still in complete control of the data it stores -- how it’s managed, how it’s encrypted, and how you want to export it.
One of the players in this market, Resilinc, is monitoring 105 million data sources. Those components get trucked by the Vietnamese Railways, loaded, and then transported to the Haiphong port, where a freight forwarder ensures the container is loaded on an Ocean carrier. This data needs to be curated.
Global Supply Chain & Sourcing Director for ECCO Global Shoe Production & Sourcing. My projects in Malaysia, Philippines, China, Indonesia and eventually Vietnam, ranged from customer service and order fulfillment, shop-floor planning, inventory management, import/export and procurement.
Continued fallout, including transport congestion, limited air freight and rail freight transportation in the Asia-Europe lanes, because of the Russia/Ukraine conflict. So, how can manufacturers respond to these challenges? How to Effectively Manage Fragmented Supply Chains.
As a procurement officer, you’ve possibly been in the crosshairs of debate between sourcing locally and regionally versus from low-cost countries endorsed by many executive staff and boards of directors. Every time I was requested to have a target percentage of our purchases from low-cost countries I felt a pit in my stomach.
So I went straight to the source and asked consultants, trade reporters, Wall Street Journal reporters and others, what their go-to logistics and supply chain sources were. is one of the industry’s most respected logistics sources. If you’re like me, staying up to date on supply chain news is critical. wsjlogistics.
Yet all of the functions that we now associate with Supply Chain have been around for a very long time: Planning, Inventory Management, Logistics, Procurement and Purchasing, Warehousing and many more. Interestingly there are many views on how to define Supply Chain. Source: [link] ). Source: [link] ).
Shippers need to learn how to be a “shipper of choice” in order to secure capacity in a consistent and productive way at reasonable rates. Research done by DAT Solutions, a spot freight marketplace, reports that as many as 32 percent of drivers experience delays of more than two hours at one stop. What does all of this mean?
One wrong decision and freight costs can skyrocket, greatly impacting your profit margins. If you’re sending goods internationally, third-party freight forwarding services offer a frictionless solution. Here we explore what freight forwarders do, the benefits and risks of working with one, and how the freight forwarding process works.
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