What Is Procurement in Freight

The Supply Chain Journal

For management, one of the most critical aspects of shipping and inventory management is the concept of procurement in freight. This essentially is the process of securing adequate capacity space to haul the freight. Freight Full Truckload Supply Chain Uncategorized

Is Inventory Waste or an Asset?

Supply Chain Shaman

We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. We feel so strongly about this that we do not have an inventory planning role.” His feeling was that inventory is an asset to manage. Inventory is both. Inventory management is a complex subject.

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Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory. Inventory optimization can help overcome these errors to a large extent.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory. Inventory optimization can help overcome these errors to a large extent.

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. Subscribe Here!

The 10 inventory management trends to watch for in 2022

Unleashed

Best practice inventory management – and the wider world of supply chain management – has played a big part in business survival through 2021. With that in mind, here’s our pick of the 10 most important inventory management trends for 2022. 10 inventory management for 2022: 1.

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 costs are considered by many forwarders and shippers to be a major part of their total shipment cost. Subscribe Here! Email Address.

Fed up with cargo congestion, freight forwarders flee O’Hare airport

The Supply Chain Journal

The problem stems from the rush of ad hoc all-cargo aircraft being substituted for grounded passenger jets amid the travel downturn combined with the surge in e-commerce orders, inventory replenishment and ocean shipping backlogs that have companies turning to air to move their goods.

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Our 2021 Top 10 List!

Supply Chain Game Changer

Featuring Our Top 16 Articles on Freight and Logistics! Featuring Our Top 16 Articles on Freight and Logistics! What is Inventory Management? What is Inventory Management? Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer. Get Our EBOOK HERE.

eBook 57

5 ways ERP improves inventory visibility in your supply chain

OptiProERP

Inventory visibility is one of the critical aspects of any manufacturing business. It helps organizations understand how much inventory is available, at what location , and at any given point of time. To ensure inventory visibility, you should have access to view, manage, and update your inventory status from trusted software. What Improved Inventory Visibility does. Inventory ties up money. How ERP Improves Inventory Visibility.

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Why the Truck Market’s Latest Turn Caught the Freight Industry by Surprise

MIT Supply Chain

Why the Truck Market’s Sharp Turn Caught the Freight Industry by Surprise The MIT FreightLab’s latest industry roundtable explored the drivers behind today’s extremely tight market for truck capacity and the broader implications for supply chains.

What’s the Difference Between Freight Management and Logistics Management?

Supply Chain Game Changer

In business it is not uncommon to hear the words “Logistics Management” and “Freight Management” thrown around interchangeably. “Logistics” and “Freight” both conjure up imagery associated with the movement and transportation of goods whether by truck, car, rail, ocean liner or any other form of transportation. What is Freight Management? But what activities are thus considered to be a part of Freight Management?

10 Inventory Management Hacks You Can Do in 10 Days

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. 3) Forecast at the right level Standard inventory management textbooks suggested that forecast be done at a product family level.

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.

Our 2020 Top 10 List Part 2!

Supply Chain Game Changer

The site is viewed as a key influencer platform in the arenas of Supply Chain, Logistics, Procurement and Management. Inventory Management Beyond the Mystery (Ebook). Process Based Inventory Turnover Improvement. Process Based Inventory Turnover Improvement!

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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. supplychainmanagement #humanresources #procurement #logistics #jobs. Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer.

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

Supply Chain Game Changer

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.

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.

What Exactly Is Supply Chain Management? 10 Different Definitions!

Supply Chain Game Changer

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. I worked in Materials Handling, Packaging Engineering, Warehouse Space Planning, Resource Planning, Procurement, Inventory Management and Control, Production Control, Systems Management and other areas. Subscribe Here! Email Address.

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

MIT Supply Chain

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. For example, they might maintain a safety stock of inventory to cover spikes in demand. For example, Walmart Stores partnered with MIT to improve its truckload transportation procurement process. The net effect is a more resilient freight transportation plan.

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

CH Robinson Transportfolio

Accordingly, carriers are selective about freight. Overly complex or challenging freight needs are passed over in favor of simpler freight. The sheer amount of data involved in managing inventory can seem staggering without the proper technology in place to process it all.

Streamlining and Automating the Procure-to-Pay Process

Talking Logistics

Streamlining and automating the procure-to-pay (P2P) process is something many companies are focused on, especially those dealing with hundreds, if not thousands, of suppliers and high volumes of purchase orders, shipments, and invoices. The order procurement black hole. I began my discussion with Omar by asking him to share some of the challenges procurement people are dealing with in the procurement process. Episode Highlights Elemica P2P procure-to-pay

What is Supply Chain Management (SCM)? (Video)

Supply Chain Game Changer

What Exactly Is Procurement? supplychainmanagement #scm #supplychain #procurement #logistics #distribution #purchasing #technology. Freight and Logistics Inventory Management Procurement Reverse Logistics Supply Chain Management Technology Distribution Logistics Purchasing SCM supplychain supplychainmanagementSubscribe Here! Email Address. And What is Purchasing? What is Supply Chain Management?

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The Supply Chain Workload Iceberg!

Supply Chain Game Changer

When a Procurement team is asked to find a new supplier to perform a particular service or supply a specific type of components, parts or materials there are a large number of steps required to bring this result to fruition. Subscribe Here! Email Address.

Hot Freight Opinions: Reaction to Knight’s LTL move

The Supply Chain Journal

We asked FreightWaves experts to provide us their HFOs (Hot Freight Opinions) on the deal. LTL has been a hot area for investors in part due to Old Dominion’s tremendous success, the growth in e-commerce and the trend of moving inventory closer to areas of consumption.

Supply Chain Scams and Fraud!

Supply Chain Game Changer

3 Most Common Freight Forwarding Scams (and How to Avoid Them)! One of our most popular articles is Freight Forwarding scams. Finance Freight and Logistics Inventory Management Procurement Risk Management Supply Chain ManagementSubscribe Here! Email Address.

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Using Digital Supply Chain Planning to Respond to Market-Changing Disruptions like COVID-19

ToolsGroup

Macro events like the Coronavirus crisis trigger demand volatility that affects every link in your global supply chain—from the raw materials you procure to setting safety stock levels to planning logistics and promotions.

The Vaccine Distribution Supply Chain!

Supply Chain Game Changer

Procurement of Vaccines. Freight and Logistics Inventory Management Supply Chain Management Warehouse Management Freight ManagementSubscribe Here! Email Address. Subscribe to Supply Chain Game Changer. GET our EBOOK HERE.

The Invaluable Role of a TMS in Managing Full Truckload Shipments

GlobalTranz

Shippers face more challenges than ever before when it comes to managing freight spend and allocation. While many other questions exist, freight management in today’s world is built on the internet, speed, use of data, and staying attractive to drivers. Yes, your freight must be attractive to drivers to get the best deals, and a TMS provides an invaluable means of creating attractive freight. The Freight & Transportation Management Trends to Know in 2018.

How to Prevent the Next Semiconductor Shortage

QAD

Poor inventory management and lack of full inventory visibility, including inventory held by next tier suppliers. Do you have a customer inventory policy for long lead time and critical parts?

Finding Trucking Capacity by Rapidly Onboarding New Carriers

Turvo

According to The Loadstar , “Some segments are already very busy and close to their limit, pointing to e-commerce, temperature-controlled trucking, and the flatbed freight market. Outdated Systems and Platforms Can Affect Trucking Capacity Procurement.

Time to Squeeze Carriers for Better Rates?

Talking Logistics

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 percent in December from November , with December 2015 freight shipments down 2.0

10 Vital Supply Chain Lessons from the Coronavirus Pandemic!

Supply Chain Game Changer

Total cost of ownership (TCO) is a Procurement sourcing methodology which entails taking into account all aspects of doing business with a supplier, not just unit costs. Mission Critical and Strategic Inventory Positioning. Inventory can often be one of the biggest assets in many companies, spanning multiple channels and tiers, and being the biggest determinant of cash flow and return on investment. Subscribe Here! Email Address. Subscribe to Supply Chain Game Changer.

The Disintermediation of the Supply Chain!

Supply Chain Game Changer

Most definitions of disintermediation characterize it as the elimination of intermediaries, or “ cutting out the middleman “ Further consider that the “Wastes” associated with Lean thinking and principles include transportation, inventory, over production and motion amongst others. For every node of the supply chain this means that there is transportation, movement and handling, inventory, and production and over, or under production. Subscribe Here!

Top 10 Global Supply Chain Risks

Supply Chain Game Changer

Inventory Turnover Breakthrough … Go Back To The Basics! Risks exist in land, air and ocean freight. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value. Extreme weather represents one of the most significant risks to ocean freight on the globe. Someone with malicious intent could bring down entire supply chain networks and force freight rates to skyrocket. Know the top risks in global freight management.