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Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. Whether you are a BCO (Beneficial Cargo Owner), Freight Forwarder or NVOCC it is essential that you get this critical component right. Use of Freight Rate Benchmarking.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. Distributors will inbound to a manufacturer the inventory needed and transportation management, especially inbound freight management, efficiency is paramount to an effective vendor managed inventory model.

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Improving inventory management

EFT

Factory closures, blank sailings, massive cuts to air freight, reduced warehouse capacity and more have hit business-as-usual and often turned carefully calibrated chains on their head. In his opinion the way you do that is “By putting inventory close to customers.

Five Tips on Sourcing Products From China

EMERGE App

Google a phrase like “sourcing products from China” and you’ll instantly be faced by almost 39 million results! You need to source for products to sell at wholesale prices to your retail customers. And the place to source for most, if not all, of your products is in China. This blog post doesn’t aim to be the ultimate guide to sourcing goods from China. I like to start with a broad-based search at Alibaba and Global Sources. Introduction.

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.

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

The Logistics & Supply Chain Management Society

The GCC chemical industry is second largest manufacturing industry in value add, after refining. 2017 Facts and Figures report by Gulf Petrochemicals and Chemicals Association (GPCA), the chemical industry accounts for 3.1 GPCA confirms GCC chemical industry’s key problem is ensuring a smooth flow of raw materials to reach production plants across the globe for finished good production.” But the chemical industry is still lagging in digitisation.

7 Steps to Pick and Implement Freight Analytics During Peak Season

Intelligent Audit

A well-thought-out freight analytics plan can make all the difference in maximizing profits, reducing costs, and staying ahead of the competition. Several other factors can play into the growing shift toward data-driven freight management. Source Your Data Connections.

The World’s Largest Brands Are Using Inventory Accuracy and Yard Automation to Fight COVID-19 Chaos

PINC

In an uncertain world where supply chain disruption is becoming a certainty, here’s how good inventory management enabled by automation can help companies gain the supply chain visibility they need to keep the wheels turning. Whether they’ve sent their workforces home to work remotely, scaled back their operations, or scrambled to find alternative supply sources, organizations across all industries are implementing new measures to offset the impacts of COVID-19.

Optimize Your Freight Spend Without Negotiation

Talking Logistics

Companies across all industries are dealing with rising transportation costs and a key question many CEOs, CFOs, and supply chain executives are asking is, “What can we do to better manage and control our freight spend in today’s market?” Rising Freight Spend . We do strategic carrier sourcing and contract negotiation, but it isn’t always time to renegotiate your contracts.

Medical Supply Industry Challenges & Solutions

EazyStock

It’s no secret that the medical industry is facing major challenges worldwide due to Coronavirus. Finally, on top of these wild demand changes, sourcing has become a new challenge. Plus even moving goods has become more difficult, with 3PLs and delivery drivers overloaded and international freight backed up. It’s an overwhelming time for manufacturers and distributors in the medical supplies industry, and no area of the supply chain will be restored to normal anytime soon.

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.

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. Source: Commerce Dept.

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.

Technology Fuels Freight Logistics: Jeff Tucker in Wall Street Journal

DAT Solutions

Jeff Tucker 's guest column in yesterday's Wall Street Journal pointed to the pivotal role of technology, including DAT Load Boards , in freight logistics today. Jeff also highlighted the contribution of freight brokers to the efficient movement of cargo. Jeff has been a leader in freight logistics since 1992; he is president and CEO of Tucker Company Worldwide and Chairman of the Transportation Intermediaries Association. domestic freight transportation and logistics.

Logistics Industry’s Slow Economic Comeback Continues in Spite of Challenges

Supply Chain Network

This year’s report presents an overview of the 2010 economy, the industry’s key trends, and the total U.S. It also examines which sectors of the industry recovered as well as those that didn’t, and which areas can be targeted for increased profit and growth. The research concludes with industry indicators for the future. Inventory carrying costs increased 10.3 Industrial production was up 5.3

6 Trends Affecting Inbound Freight Management!

Supply Chain Game Changer

Successful inbound freight management depends on a strong logistics management program. Shippers need to have a robust set of controls in place, a high-quality inbound freight routing guide , automated tracking technology, reporting capabilities, and much more. Shippers need to understand the trends throughout the industry affecting inbound freight management and how to plan accordingly. Congress Will Affect Successful Inbound Freight Management. Subscribe Here!

Integrated Supplier Management Boosts Performance

QAD

As a result, improved integration and connectivity between manufacturers and suppliers is increasingly important to avoid premium freight costs, missed shipments and subpar supplier relationships. . Excessive premium freight charges to meet customer delivery expectations.

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.

5 Ways Temperature Controlled Shippers Can Boost Supply Chain Efficiency

CH Robinson Transportfolio

The increased need for adaptability and agility sums up what nearly everyone is feeling these days—this is particularly true for companies shipping temperature sensitive freight when timing is critical. Be strategic about inventory management.

Why is Supply Chain Such a Great Career Path?

Supply Chain Game Changer

SCM encompasses the integrated planning and execution of processes required to optimize the flow of materials, information and financial capital in the areas that broadly include demand planning, sourcing, production, inventory management and storage, transportation — or logistics — and return for excess or defective products. Supply Chain also spans virtually every industry. Manufacturing and Distribution based industries are obviously built on Supply Chain.

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The New Silk Road: Have You Evaluated Your Freight Options?

TMC

This shows that shippers are capitalizing on new mode/route combinations that will help them save cost, reduce lead time, and mitigate supply chain disruptions and risks (such as labor disputes in the ocean shipping industry). Even though the cost of shipping a container by rail can be more than double the cost of using sea routes, for certain products the higher cost can be offset by reductions in inventory costs. Source: World Economic Forum, [link].

US Spending Cuts to Create Issues for Freight Forwarders Through Cargo Processing Delays

BluJay Solutions

As the US Federal Government begins to implement a Sequestration program of mandatory spending cuts to address its budget deficit, effective March 1, the Department of Homeland Security is warning of potential delays to the processing of inbound air and sea freight shipments. And the resulting delays in processing cargo imports are set to impact heavily on the logistics industry, with logistics services providers of all types affected, in particular freight forwarders.

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Logistics in 2020: The Future of Road Freight

BluJay Solutions

The logistics industry is shaping up for some radical changes. In a recent white paper , Kewill has looked at the issues facing the global supply chain, and how it may look in 2020, including the future picture for road freight. Road freight represents a major part of most Logistics Services Providers’ (LSPs') strategies. Labor shortages; the shortage of drivers and warehouse workers will present a very real challenge to the logistics industry.

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Supply Chain Game Changer

A predominant issue is having single, or sole, sourced parts. If the supplier provides materials that can be sourced elsewhere then you have a path to developing a contingency plan. On the other hand if customer demand fails to materialize according to forecast you can be stuck with a lot of custom inventory, unrecovered expenses and a huge cash flow problem. And Supply Chain manages the levels of inventory which can dramatically impact the deployment of cash.

Overcome Foodservice Disruptions: Focus on Technology, Service Networks, and Transportation

CH Robinson Transportfolio

The entire world is in a time of adjustment thanks to COVID-19—this is especially true for the food and beverage industry. Accordingly, carriers are selective about freight. Overly complex or challenging freight needs are passed over in favor of simpler freight.

[INFOGRAPHIC] Industry 4.0: Powered by the Internet of Things & Digital Manufacturing

Cerasis

Gone are the days of tactical moves with freight. Freight shippers are now more efficient thanks to technology, such as transportation management systems. also referred to as the Fourth Industrial Revolution. In today’s post we will talk about what is Industry 4.0, Industry 4.0: The Fourth Industrial Revolution. So what is “industry 4.0?” According to Accenture, they define Industry 4.0 The core of Digital Industry 4.0

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

Supply Chain Network

To achieve full efficiency, the supply chain needs secure, accurate and timely data on the inventory status and condition of its products. The CMR-6100 is easy to install and maintain, requiring only connecting it to an AC or DC power source – or even a solar power source – and attaching RFID antennas. ZEST Data Services makes it easier for Intelleflex partners to develop enterprise-aware applications by pointing to a single data source.

What Is the COVID-19 Impact on Your Supply Chain? We Surveyed the Transplace Network.

Transplace

Last week, we surveyed Transplace’s network of customers of $9+ billion of freight under management to reveal the impacts of the pandemic. Industries Represented. Logistics leaders in a variety of industries shared their challenges and lessons learned throughout the COVID-19 crisis. Cutting costs and looking for alternative supply sources were also prioritized along with making new budget revisions to adapt to the changes in the global supply chain.

Experts Choice Of Top Online Logistics Resources

Freightos

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. Part of Peerless Media’s impressive stable of industry magazines, including Supply Chain Management Review, Modern Materials Handling and Material Handling Product News. Ocean freight is split into 14! Freight Dawg.

3D Printing Set to Streamline the Retail Supply Chain Through Reduced Lead Times and Inventory

BluJay Solutions

Yet the potential for manufacturers and retailers/distributors to streamline and simplify production and distribution processes as well as increasing the possibilities for customization of products is clear, and media and industry interest in how to harness this technology to drive innovation is gathering pace. The attractiveness of 3D printing for manufacturers and retailers/distributors centers around reducing both lead times and the risks involved in holding inventory.

This Week in Logistics News (June 3-7, 2013)

Talking Logistics

In this week’s news… UPS Freight Announces 2013 Rate Adjustment. Cass Freight Index Report for May 2013. Amazon plans big expansion of online grocery business: sources ( Reuters ). percent is the magic number in the transportation industry these days, especially in the LTL sector. On May 28th, ABF increased its general rates and charges for its freight division by “about 5.9 This week UPS Freight announced “a general rate increase of 5.9

Smart Supply Chains Adapt to Overcome COVID-19 Challenges

Logistics Bureau

The Auto Industry. With the global auto industry heavily reliant on components from China, many assembly plants in Europe have had to shut their doors and send workers home. The US auto industry is expected to follow suit as stockpiled inventory becomes depleted. These smart operators include: John Deere: The agricultural vehicle manufacturer says it expects to spend $40 million (USD) on expedited freight to ensure there is no disruption in supply.

How Machine Learning Is Redefining Supply Chain Management

IQMS

Key factors influencing inventory levels, supplier quality, demand forecasting, procure-to-pay, order-to-cash, production planning, transportation management and more are becoming known for the first time. Source: Machine Learning – A Giant Leap for Supply Chain Forecasting, Material Handling and Logistics Conference (PDF, 28 pp., Source: Machine Learning & AI in Transport and Logistics, Frank Salliau & Sven Verstrepen Logistics Meets Innovation Vlerick Brussels – Nov.

What If Your Supply Chain Had A Control Tower?

Freightos

The idea of a supply chain control tower emerged in 1990’s, triggered by the need to view and control the movement of goods in factories, distribution centers and pipeline inventories. The most significant role of a control tower is to provide a live view into the vitality of the complete chain, across many functions – manufacturing, inventory, demand planning, logistics, customs clearance, etc. Live market freight rates?

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

The Logistics & Supply Chain Management Society

This has proved to be a major source of risk. Poor business continuity planning, lack of risk management programs and single source suppliers, have magnified the impact of such risks. A significant paradigm shift in procurement and inventory control is an emerging area of focus.

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