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.

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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.”

Collaborative Logistics is the Only Way Forward for the Industry

Cerasis

Collaborative logistics is the future (and the now) of successful, risk-managed logistics and supply chain management. There is no greater demand than what market forces, competitors, and Black Swan supply chain events 3PLs and freight brokers have to meet the challenges shippers face. The post Collaborative Logistics is the Only Way Forward for the Industry appeared first on Transportation Management Company | Cerasis.

Keep Your Cargo Out of Danger: Best Practices for Transportation Risk Management

CH Robinson Transportfolio

With the main focus on maximizing time and cost efficiencies, cargo risk management is often skipped over despite being a critical step in protecting your company. . Due to the global outbreak of the coronavirus, many global shippers are recognizing the value in a risk management plan to best prepare themselves for the current situation and others like it in the future. The risk of delays and lost cargo are real. What risk does your cargo face?

This Week in Logistics News (September 12-16, 2016)

Talking Logistics

Are you attending the Council of Supply Chain Management Professionals (CSCMP) Annual Conference later this month (September 25-28 in Orlando, FL)? If so, I invite you to attend two of the sessions that I am participating in, both related to transportation management: TMS 4 SMB: A Case Study with Carhartt. Speakers: Sharon Perry, Vice President of Logistics, Carhartt; Gregg Lanyard, Director, Product Management, Manhattan Associates; Adrian Gonzalez, President, Adelante SCM.

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.

This Week in Logistics News (February 23-27, 2015)

Talking Logistics

Moving on to this week’s supply chain and logistics news… Target Lowers Free Shipping Minimum to $25 for Online Orders. DHL launches next phase Resilience360 risk management tool to help customers avoid global disasters. December 2014 North American Freight Numbers. I argued that third-party logistics providers need to take a broader perspective of their business and value proposition. December 2014 North American Freight Numbers : U.S.-NAFTA

Supply Chain Risk Blog Series#1: Why Supply Chain Risk Management Should be a High Priority

BluJay Solutions

Managing the inherent risk in a supply chain has always been critical for businesses, but has become ever more so as supply chains have extended globally. With so many companies today deriving and delivering so much of their business across a larger geographical expanse, the inherent risk factor has increased exponentially in the last decade or two.

This Week in Logistics News (June 23-27, 2014)

Talking Logistics

In other news… Supply Chain Risk Management Now a Priority for Most Businesses ( Accenture ). April 2014 North American Freight Numbers. Several reports have been published in recent years underscoring the growing importance of supply chain risk management. This includes investments in “technology and/or organization that provides visibility within and/or across the Supply Chain that highlights trends and potential risks.”.

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This Week in Logistics News (January 19-23, 2015)

Talking Logistics

LLamasoft and CHAINalytics Partner to Provide Integrated Access to Freight Market Intelligence. Teamsters lose another vote at FedEx Freight facility (Reuters). ” Companies have historically overlooked B2B Connectivity when evaluating supply chain software solutions, such as transportation management systems. Supply chain management is all about risk management, and this is a great example of how third-party logistics providers (3PLs) need to redefine themselves.

Freight Data Trends for 2019 and How a TMS Will Grow in Value

Cerasis

The application of data can help shippers gain control of shipping costs and make informed decisions, and the top freight data trends for 2019 exemplify how the use of a transportation management system (TMS) can further this cause. Shippers need to consider how the freight data trends will affect dropshipping, omnichannel shipping, reporting capabilities, and much more. As omnichannel shopping becomes the standard for consumers, the use of freight data will excel.

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This Week in Logistics News (January 4-8, 2016)

Talking Logistics

In the meantime, here’s the supply chain and logistics news that caught my attention this week: EU Approves FedEx Acquisition of TNT Express ( WSJ – sub. INTTRA Collaborates with JDA Software for Streamlined Transportation Management. LoJack SCI and TransVoyant Partner to Deliver Supply Chain Risk Alerting. Transervice Announces Launch of Tech-Based Freight Management Company. Note: GT Nexus and JDA Software are Talking Logistics sponsors.

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The Top 2019 Logistics Trends Shippers Should Know

Cerasis

The state of the logistics industry is evolving. Technology allows shippers to work smarter, faster and with fewer human resources, and new technologies, such as drones and augmented reality, are continuing the process, reports Victoria Kickham of Logistics Brief. Unfortunately, companies that fail to stay in line with the top 2019 logistics trends could face uncertainty and lost competitive advantage, so let’s look at some of the top trends shippers should know to stay successful.

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The State of Uncertainty in the Freight Market!

Supply Chain Game Changer

Freight market article and permission to publish here provided by Kevin Jessop at cerasis.com. Meanwhile, the global air cargo volume has dropped significantly, explains Greg Knowler, JOC Senior Editor , “up to 5,000 tons of cargo in air freight from China to the U.S. The impacts are not just limited to air freight market changes. Some deals Jacobs had been discussing eventually went through, with XPO buying Kuehne + Nagel’s non-core logistics assets in the U.K.,

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This Week in Logistics News (April 1-5, 2019)

Talking Logistics

Moving on to this week’s supply chain and logistics news… Truckers gridlocked at U.S.-Mexico Robinson (a Talking Logistics sponsor), shared some good advice in a blog post this week. Speaking of supply chain risk management, Transplace (a Talking Logistics sponsor) announced this week a partnership with Riskpulse “to enhance real-time, predictive risk analytics capabilities.” “I’m worst at what I do best.”.

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Guide For Supply Chain Risk Management - How to Identify, Validate, and Assess

EFT

Insurance companies talk about supply chain risk in terms of assets. These diverse interpretations make identify risks more challenging. Surprisingly, many supply chain risk discussions exclude the actual supply chain. They do not recognize logistics infrastructure, logistics service providers, and how products move through supply chains. As a result, they overlook risks. Yet, such details can cause risk. Logistics infrastructure.

This Week in Logistics News (November 11-15, 2013)

Talking Logistics

Freight Shipments Rose 0.8% University of Maryland Selects Resilinc as Supply Chain Risk Partner. According to Jeff Starecheski, Vice President Logistics Services at Sears Holdings, “Customer service is of paramount importance to Sears Holdings, our members and customers. Note: Descartes is a Talking Logistics sponsor. Tweet The post This Week in Logistics News (November 11-15, 2013) appeared first on Talking Logistics with Adrian Gonzalez.

Freight Broker Business: Increase Shrinking Margins With Better Analytics

Turvo

Maintaining a freight broker business and helping it stand out from the crowd is more difficult than ever. Unfortunately, that does not always amount to spending money reasonably and maintaining control over freight spend. For those operating a freight broker business, the challenges are greater. These forecasts can also help brokers, shippers and fleets take a lot of the guesswork out of a proposal to move freight, say, a year from now. Analytics Freight Broker

Wanted: Supply Chain Architects!

Supply Chain Shaman

When I moved into industry, and the real world, I managed engineering teams. Each project would usually have a cool name, and management exposure. I relished the sound of a manufacturing line when I opened the door of the factory in the morning, and I liked managing inputs so that we could maximize outputs. Manufacturing is the foundation of my interest in supply chain management. I knew nothing about the world of logistics, inventory management and order optimization.

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.

Countdown to Black Friday: Are You an Easy Target for Cargo Theft?

Talking Logistics

But while we are in the midst of a season notorious for a spike in cargo thefts , there are a few precautions you can take to protect your freight. Remember that freight at rest is freight at risk. The more time freight spends sitting unattended, the likelier the chances are for truckload theft. Try to keep the amount freight that’s shipped out over weekends to a minimum, or work with your carriers to avoid prolonged stretches in drop yards.

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Don’t Wait for Dwell Time to Delay Your Freight

TMC

Here are three ways that shippers and beneficial cargo owners can mitigate the risk of excessive dwell time in any port. Real-time, or near real-time connectivity to key logistics partners in the extended supply chain helps to prevent delays that can inflate dwell time. A transportation management system (TMS) can be used as a communications hub to maintain a high level of supply chain connectivity. Review global trade management processes.

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Don’t Wait for Dwell Time to Delay Your Freight

TMC

Here are three ways that shippers and beneficial cargo owners can mitigate the risk of excessive dwell time in any port. Real-time, or near real-time connectivity to key logistics partners in the extended supply chain helps to prevent delays that can inflate dwell time. A transportation management system (TMS) can be used as a communications hub to maintain a high level of supply chain connectivity. Review global trade management processes.

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Top 10 Global Supply Chain Risks

Supply Chain Game Changer

Change is inevitable in modern supply chain management, and risk management is essential to success. Risks evolve and become more prevalent with time. Risk management strategies of yesteryear are ineffective in the changing landscape, and no type of transport can avoid risks. Risks exist in land, air and ocean freight. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value.

Supply Chain and Logistics Predictions for 2016

Talking Logistics

Google did not acquire a third-party logistics (3PL) company or a logistics software vendor. Making supply chain and logistics predictions is like throwing darts at a moving target. Terrorism : The recent terrorist attacks in Paris and San Bernardino, coupled with the ongoing instability in Syria and Iraq and the spread of ISIS, have raised the risk for terrorism-related supply chain disruptions in 2016. The Case for Competing on Logistics Talent.

Enabling Supply Chain Flexibility: Two Important (But Often Overlooked) Factors

Talking Logistics

In light of these risks, developing a flexible supply chain is the best strategy for success, but what does that mean exactly and how can companies get there? That was the central question Matt Castle, Director of Air Freight Services at C.H. Robinson , and I addressed in a recent episode of Talking Logistics. The post Enabling Supply Chain Flexibility: Two Important (But Often Overlooked) Factors appeared first on Talking Logistics with Adrian Gonzalez.

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New 3PL Study: The State of Logistics Outsourcing

Supply Chain Movement

In the 2015 19th Annual Third Party Logistics Study, survey results showed the continuing, positive overall nature of shipper-3PL relationships. Both parties view themselves as being successful, and shippers are seeing positive results again this year: an average logistics cost reduction of 9% an average inventory cost reduction of 5% and an average fixed logistics cost reduction of 15%. Strategic Workforce Management Throughout the 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.

[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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Citations of Excellence Awards 2016

SCM Research

The Reduction of Greenhouse Gas Emissions from Freight Transport by Pooling Supply Chains. Journal of Business Logistics, 34 (1), 46-76 DOI: 10.1111/jbl.12009. Data Science, Predictive Analytics, and Big Data: A Revolution That Will Transform Supply Chain Design and Management. Journal of Business Logistics, 34 (2), 77-84 DOI: 10.1111/jbl.12010. Research Theory Supply Chain Management Supply Chain Risk Management Article Supply Chain Sustainability Award Technology

Listen to El Niño: Why Developing a Flexible Supply Chain Matters

Talking Logistics

In light of these risks, developing a flexible supply chain is the best strategy for success, but what does that mean exactly and how can companies get there? That is the central question Matt Castle, Director of Air Freight Services at C.H. Robinson , will address in this episode, as well as… How can companies gain greater visibility of developing risks? How can logistics service providers help companies develop more flexible supply chains?

Identity Theft, Trucking Style

Talking Logistics

Then the con artists offer low bids to freight brokers who handle shipping for numerous companies. Here are my three simple tips to prevent cargo theft in general (or at least minimize the risk): 1. The longer a loaded trailer or container sits unattended, the higher the risk for theft. And you should collect data on where (and for how long) loaded trailers/containers sit along your supply chain to understand where you face the greatest risk for cargo theft.

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This Week in Logistics News (July 28 – August 1, 2014)

Talking Logistics

In this week’s news… XPO Logistics to Acquire New Breed Logistics. Dun & Bradstreet Launches Supplier Risk Manager™ 2.0. XPO Logistics continues its roll-up strategy with its announced acquisition of New Breed Logistics this week for $615 million. The post This Week in Logistics News (July 28 – August 1, 2014) appeared first on Talking Logistics with Adrian Gonzalez.