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Supplier Risk Management: 4 Things To Look Out for During On-Site Evaluations

Cerasis

This post is the second in a series of “How to Spot Supplier Risk.” ” In the process of business procurement and especially in the supply chain, supplier risk management is a skill set that needs focus day in and day out. Enhancing Supplier Risk Management Through On-Site Evaluations. The second article in our series on identifying supplier risk explores what to look for during on-site evaluations.

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

Supply Chain Game Changer

In thinking about the show and its construct I thought about the incredible amount of risk that the performers and producers are managing. These world class performers have astonishing talent but they are also working in an environment designed to eliminate risk and maximize safety. Supply Chain Professionals, although not usually theatrical, also work in an environment in which they are managing a tremendous amount of risk. Supply Chain Risk Management.

Insiders

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Supply Chain Risk Management Highlighted by a Tiny Computer Chip

Enterra Insights

” Aside from national security implications, the main lesson to be learned here is how vulnerable companies are to risks associated with their supply chains. Lillian Ablon, an information scientist at the RAND Corporation, told Koebler and Cox, “Supply chain risk management is difficult enough for conventional threats (disruptions in operations caused by natural disasters, financial failures, poor quality, etc.).

Risk Management: Is 2018 the Year of Living Dangerously?

Enterra Insights

It has also always had issues: supply chain complexity; global competition; information collection challenges; and greater risk from global events including natural disasters, port closures and anti-global sentiment. ” Taken as a whole, the issues raised by Monahan and Gott are enough to keep any risk manager awake through the night. ”[2] Those risks are: 1. As we step into 2018, enterprises must realize the risks associated with their IoT ecosystem.”

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

Talking Logistics

A beautiful woman passed away this morning, my wife’s aunt who we all loved, so I will be brief with my comments about this week’s supply chain and logistics news. Logistics in Transition: U.S. Business Logistics Costs Slow Considerably with 2.6% Triumph Business Capital Provides Instant Cash Funding Via AscendTMS™ Logistics Software. April 2016 North American Freight Numbers. Cass Freight Index Report – May 2016.

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 Management

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Experts Choice Of Top Online Logistics Resources

Freightos

The Experts’ Choice of the Top Online Logistics Resources. 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. Experts’ Choice: Supply Chain and Logistics Email Newsletters. This is the experts’ selection – but if we had to choose just one, our go-to read is the fast-rising WSJ Daily Logistics Report. Ti Logistics Briefing.

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. To my mind, your challenges depend on where you are in transformational change within your organisation, the scope of your function within Procurement and the nature of the organisation’s supply chain.

[e-Book] The Most Impactful Supply Chain & Logistics Trends in 2017

Cerasis

“The problem with trends is that they are like a freight train gaining speed; everyone can see the train, but at what point do you say the train is really moving at speed?” – Steve Banker from a recent Forbes article. This is quite the appropriate quote from Supply Chain thought leader, Steve Banker, the Service Director, Supply Chain Management at ARC Advisory Group, a leading industry analyst and technology consulting company. e-Books Logistics Supply Chain

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Mitigating Logistics Risk Through Blockchain

Shipchain

Logistics will always contain risks, but the use of blockchain in supply chain management can go a long way in prevention and mitigation. The applications of blockchain in supply chain management are growing, and supply chain leaders now have a unique opportunity to bring end-to-end visibility to the darkest and most secluded parts of their organizations via blockchain. Logistics Risks Lead to Higher Freight Spend.

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. TCO models can include variables such as unit price, Accounts Payable terms, cost of quality, lead times, technological value, logistics costs, management costs and more. Sourcing in alternate locations will help to reduce risk by virtue of creating redundancy and natural contingencies. Subscribe Here!

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Google Will Acquire a 3PL – And Other Supply Chain and Logistics Predictions for 2015

Talking Logistics

I use this example to illustrate the challenges (or, perhaps, the futility) of making supply chain and logistics predictions. Simply put, I admit upfront that my supply chain and logistics predictions below are biased and flawed, but I make them anyway because it’s a fun exercise, and also because I hope it generates some thoughtful conversations and ideas. For related commentary, see: In Logistics, Somebody Has to Own the Assets.

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Letter from the CEO: Coronavirus Market Update

Transplace

Spot market rates are increasing for freight going from Mexico to the California, Washington, and Oregon areas. The global air freight market for Asia, Europe and North America is impacted by the dramatic decline in commercial passenger flight volume creating capacity shortages and volatile spot market pricing without transit time commitments. Also, provide weekly data and reports to operations and procurement teams. Letter from the CEO: Coronavirus Market Update.

Letter from the CEO: Market Update April 23, 2020

Transplace

Facilities for drivers are being cleaned regularly to minimize risk. Transpacific Eastbound ocean freight spot market remains relatively stable to both U.S. Intra-European road freight is still flowing. Assess the risk of bankruptcy on providers and know which providers have been over invested in your network, particularly highly strategic regional carriers that may have a high amount of freight within your network.

Letter from the CEO: Market Update May 21, 2020

Transplace

We are continuing to see heavy freight solicitation from our carrier base. Most dry van carriers saw a decline in activity but were able to mitigate much of the cost implications by furloughing drivers, freight handlers (dockman), and back-office staff. Based on spot market data from the Transcore / Link Logistics database, rates within Canada have softened since mid-March between 4 and 14% depending on the lane / market. The air freight market is still extremely volatile.

5 ways TMS transforms Logistics Managers' jobs

Abivin

That’s where the need for Transportation Management System (TMS) comes into play. A survey featured in Logistics Management shows that just 35% of shippers are using TMS in their supply chain. Logistics managers need to realize that adding TMS instead of headcount can be the right way to grow their business. By automating manual processes, you can have time to focus on other important tasks like strategic planning, management.

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

Talking Logistics

I will be wrong again,” I stated last year before making my supply chain and logistics predictions for 2017 , and I was right. But I was right with some of my other predictions, especially my prediction that we would see a rise in cyber attacks in 2017, with supply chain and logistics operations becoming new targets. UPS Joins Top Alliance To Create Blockchain Standards For Logistics. The Big (Crappy) Data Problem in Supply Chain Management. Source: Evan, Flikr. “I

Top Logistics & Supply Chain Blogs We Followed in 2018 & Suggest You Follow in 2019

Shipchain

We follow an exhaustive list of supply chain and logistics blogs to make this possible. If you want to start learning, we suggest you check out these top logistics and supply chain blogs. Top Logistics and Supply Chain Blogs We Love. Cerasis is another leader in the world of supply chain and logistics. The blog spends a lot of time focusing on the use of transportation management systems and how they can increase efficiency in your supply chain. Freight Hub.

Finding Truckload Capacity: Insights on Managing the Spot Procurement Process

Talking Logistics

But there’s always the risk of service or safety issues when you go that route. I asked Hope Federer, Senior Solutions Consultant at MercuryGate , that question in a recent episode of Talking Logistics. Here’s an excerpt of what she said: A lot of shippers and 3PLs are taking a similar [risk management] approach, really focusing on their carrier due diligence [process]. Data from various sources indicate that truckload capacity is starting to tighten.

How to Prepare for Tight Truckload Capacity

TMC

In the aftermath of Hurricane Harvey—and as Hurricane Irma moves closer— truckload capacity is tighter than it has been for years, giving some shippers challenges in covering freight. Still, most carriers also value consistent freight volumes because they make it easier to justify equipment and capital investments. Carriers value different characteristics in their freight. If your freight characteristics do not fit the carrier’s ideal model (e.g.,

How to Prepare for Tight Truckload Capacity

TMC

In the aftermath of Hurricane Harvey—and as Hurricane Irma moves closer— truckload capacity is tighter than it has been for years, giving some shippers challenges in covering freight. Still, most carriers also value consistent freight volumes because they make it easier to justify equipment and capital investments. Carriers value different characteristics in their freight. If your freight characteristics do not fit the carrier’s ideal model (e.g.,

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

The Logistics & Supply Chain Management Society

Focussing on lowering logistics costs by coordinating time charters or invest in joint shipping lines to capture ship-owner returns. Risk management: Risks are inevitable in complex supply chain networks. Working closely with partners can help mitigate some risk and avoid disruptions / obstacles to logistics. These strategies range from cost reduction, supplier collaboration, risk management to digitising operations and vertical integration.

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

The Logistics & Supply Chain Management Society

Managing supply chain and logistics has never been more significant and challenging since the outbreak of COVID-19 that created a new norm with high uncertainty and enforced an inevitable shift”. Logistics and supply chain management is a rapidly evolving field.

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Preparing Your Business for the Digital Supply Chain

Oracle SCM

As digital transformation confronts supply chain leaders , we caught up with Mike Mortson of Supply Chain Game Changer to discuss the current state of the supply chain technology landscape—including how the easiest path forward, in many cases, may involve embracing a supply chain-as-a-service model to benefit from cutting-edge technologies and first-rate digital supply chain management skill sets. By Mike Mortson , CEO, Supply Chain Game Changer.

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

Supply Chain Shaman

As the world for non-essential workers moved to on-line meetings, conference calls, and uncertainty, essential workers redefined the workplace to mitigate risk. Today, we find ourselves in the middle of a risk management case study. News coverage showcases the differences between logistics and supply chain management. Let’s learn and apply it to supply chain management. Expect border friction and logistics to be an issue. Manage Supply.

Why investors are looking at supply chain technologies in 2020

Requis

Insiders joke (quite fairly, as it turns out) about billion-dollar procurement-management-disposition cycles that are managed in spreadsheets. You can start with things like logistics, and see how much things have changed in just the past five years.

What Supply Chain Data Should I Track in 2020?

Veridian Solutions

Supply chain data management requires attention to detail and a mechanism in place that provides analytics, or insights, to gain actionable knowledge. Risk exists around data when it is incorrectly or inaccurately collected and shared. Taking a proactive role in data management can make a difference, and the right data is not necessarily the same as that of your top competitors.

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A Few Thoughts about Supply Chain Management

Enterra Insights

Supply chain management (SCM) sounds like a straight-forward topic; nevertheless, numerous articles have been written on the subject explaining what it is and what it isn’t. Ask a person on the street what constitutes supply chain management and my guess is they would say SCM means ensuring the entire supply chain, from procurement of raw materials to product delivery, runs smoothly. ”[1] How important is supply chain management?

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SCM is smoking hot!….Why students should consider NC State for a supply chain major.

NC State SCRC

But organizations also need to work on investing in a talent management strategy, beginning by partnering with targeted universities to help shape and develop the people that they need to fulfill these roles. We need to be up to the challenge of creating the “impossibly talented” procurement professionals of the future. One of the key differentiators identified in the WSJ article is the need to think about procurement, operations, and logistics in an integrated fashion.

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6 Digitization Steps to Overcome Supply Chain Disruptions & Build Resiliency

Turvo

Again, those without a digital capability are effectively putting their drivers at risk, incurring higher costs for the personal protective equipment (PPE) for staff, and risking access to fewer drivers. The only hope of surviving and thriving lies in enabling effective risk management and achieving supply chain resiliency. Identify weaknesses contributing to limited real-time visibility in management. That’s where Port X Logistics, using Turvo, comes into play.

Experts Discuss How to Streamline Global Supply Chain

Supply Chain Opz

Due to the rapid change in global business environment, managers find it difficult to gain the edge over competitors. We believe many practices in global supply chain management can be applied in every industry. The list is presented in the order the responses were received in: 1) Andreas Wieland , Assistant Professor at Copenhagen Business School Successful supply chain management means that organizations are well-orchestrated in an end-to-end value network.

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How Europe is Coping with Supply Chain Disruption

Jaggaer

Define your procurement response strategy. Yet with the autobahns, motorways and highways largely free of traffic apart from freight, goods are generally getting through and we are yet to see long-term shortages of food and other essential items. This in turn could put logistics under pressure at companies like Amazon. That said, the flexibility of the logistics industry has been one of the positives during the COVID-19 crisis. Supplier Management Supplier Network

Improve Supply Chain Management to Improve Business

Enterra Insights

Billal Chouli explains, “A supply chain is a network of suppliers, manufacturers, and retailers, as well as intermediaries including freight companies, warehousing companies, and brokers, who transfer goods, services, money, and information amongst one another. The importance of supply chain management. Dealing with all that complexity requires sound supply chain management (SCM) strategies. ” Improving supply chain management strategies.

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Supply Chain Movement 21 – S&OP + IT

Supply Chain Movement

Forecasting is about managing risks. Major organisational and cultural changes lie ahead for supply chain management. as the advance of e-commerce continues, companies with an omnichannel approach are increasingly implementing specific order management systems. furthermore, because the continuing growth in outsourcing is making global businesses ever-more susceptible to disruptions, supply chain risk management software is also on the rise.

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Selecting a 3PL – 9 Things Every Shipper Should Know

The Logistics of Logistics

Recently, a shipping manager asked me what selection criteria he should use when selecting a 3PL. As a sales guy for a 3PL I am always anxious to impress shipping managers, so I created the following 9 things to consider when selecting a 3PL. Non-asset based 3PLs use the assets from other logistics companies. Pros: If the 3PL is good at procurement, they can build a large network of partners / carriers. Look for a 3PL that beats the logistics industry average.

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