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7 Ways to Strategically Elevate Freight Procurement

Talking Logistics

In the last decade, many companies, especially those with manufacturing operations, have evolved direct materials sourcing from an administrative function to a strategic procurement process. The embodiment of this transformation is the chief procurement officer, an increasingly common title for executives that strategically source goods and services. As a strategic process, transportation procurement may still seem very tedious and challenging.

Understanding the Shipping Container Shortage!

Supply Chain Game Changer

Shipping container shortage article and permission to publish here provided by Sam White at Argentus. The massive global shipping squeeze. Here’s an example: Every year, a huge volume of finished goods are shipped from Asia to North America. Shipping rates from China to the U.S.

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10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.

GlobalTranz

However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. Many suppliers and manufacturers may have existing, internal analytics tools, but using these tools for benchmarking processes may be ill-fated. This is comparable to the Holy Trinity of Manufacturing and Shipping discussed earlier this year in previous blog posts. This does not mean shipping a product immediately.

These 7 Industrial Procurement Trends will Impact Supply Chain & Logistics in 2018

GlobalTranz

Procurement must never be an afterthought in any enterprise. Manufacturers need to have the right raw materials and supplies available. Supply chain professionals must also know how they will be shipping freight. The answers to these questions lie in understanding a few of the top industrial procurement trends to expect in 2018. Companies Will Seek New Ways to Use Technology in Procurement. Integrated Procurement and Payment Systems Simplify the Process.

From Exports to Delivery: Simplifying PPE Shipping

CH Robinson Transportfolio

So, it’s important you’re up to date on the latest regulations to avoid your freight being held up. Policy 12 created a white and blacklist of manufacturers and suppliers. Metered freight solutions. As ocean freight catches up, it can significantly reduce your freight spend.

8 Steps to Building Supply Chain Resilience for Manufacturers in a Post-Covid World

ivalua

Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity.

Webinar Recap: The Case for a Pan-American Manufacturing Ecosystem

Resilinc

In the decades since, Linton and his teams at IBM, LG, Flex and other companies have driven billions in annual procurement to China and other Asian countries, helping to create the Asia-centric manufacturing supply chains of today. manufacturing supply chain there.”.

How Freight & Transportation Data Can Trim Your Transportation Spend

GlobalTranz

When you want to drive down your logistics and transportation spend, the very first thing that you need is freight and transportation data. Accurate freight and transportation data is particularly important. Seizing control of freight and transportation spend can improve operating income by five to 10 percent, and boost stock prices by 10 to 20 percent, according to an Accenture study, From a Shipper’s Market to a Carrier’s Market. Freight Invoicing Reports.

‘New Normal’ Consequences: Soaring Container Shipping Rates

BlueYonder

One of the factors in that evaluation would also be the freight costs you incurred for that container and any additional costs if you are expediting another shipment. If you were to check the freight invoice, you probably paid four times the cost of the container as compared to last year!

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.

Supply Chain Costs: A Definitive Guide for Manufacturers

ThroughPut

Manufacturers usually define supply chain costs using the total cost of ownership. Most manufacturers aim at creating the most optimum supply chain for their organizations. ” Hard costs involve an invoice or a direct cash outlay, which could include freight payments or inventory.

How Freight Disrupted Itself: The View From Within A Changing Industry

Freightos

How Freight Disrupted Itself. In the last year, a new dynamic has begun to reshape the freight industry. Phil knows his (freight) stuff. In his PhD thesis he developed a product to secure ocean freight rates with financial derivatives. Declining Freight Rates. Phil adds that something else has contributed to declining freight rates. Knowledge is power, and this knowledge is keeping freight rates at low levels. It’s not just freight rates.

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations

ThroughPut

You can’t just turn around a giant cargo ship. And when shipping to volatile countries, it becomes even harder. companies with global operations, one of the most effective ways to mitigate risk is to ship smarter. Once cargo has shipped, there are no “backsies.”

Port Congestion Update

Shipsy

Major mobile phone manufacturers also have resumed operations in Uttar Pradesh, Bangalore and Chennai. Steel manufacturers have witnessed huge volumes moving through exports since the domestic demand has been slowed down due the lockdown.

Blockchain in freight forwarding – Is it the next big thing?

20Cube Logistics

Supply chain involves procurement, creating orders, packing, shipping and distribution of goods, etc., How will blockchain impact freight forwarding? Each time cargo is shipped, the transaction is documented, creating a permanent history of the shipment from order to delivery. The sharing of information on the manufacturing process, assembly, delivery with vendors and suppliers becomes transparent and efficient.

Supply Chain Costs: A Definitive Guide for Manufacturers

ThroughPut

Manufacturers usually define supply chain costs using the total cost of ownership. Most manufacturers aim at creating the most optimum supply chain for their organizations. ” Hard costs involve an invoice or a direct cash outlay, which could include freight payments or inventory.

Supply Chain Costs: A Definitive Guide for Manufacturers

ThroughPut

Manufacturers usually define supply chain costs using the total cost of ownership. Most manufacturers aim at creating the most optimum supply chain for their organizations. ” Hard costs involve an invoice or a direct cash outlay, which could include freight payments or inventory.

Moving Up The Corporate Ladder, Does Your Freight Spend Have A Seat At The Table?

4WL Consulting

The previous decade has seen many companies, mainly those handling manufacturing operations, change how sourcing of direct materials is executed – from an administrative function to a somewhat strategic procurement approach that has seen the creation of a new position “the Chief Procurement Officer.” There’s been a shift from executing daily freight transactions to integrating top-level corporate planning and procurement strategies.

Port Congestion Update – There growth in the number of containers cleared at Nhava Sheva and Mundra

Shipsy

Major mobile phone manufacturers also have resumed operations in Uttar Pradesh, Bangalore and Chennai. Steel manufacturers have witnessed huge volumes moving through exports since the domestic demand has been slowed down due the lockdown.

Multimodal 2015 – Advanced Supply Chain Management and Logistics for Cargo Owners

Supply Chain Movement

Entering its eighth year, Multimodal has grown to become the UK and Ireland’s premier freight transport and logistics event. It is this ability to present the entire freight transport and logistics supply chain under one roof that makes Multimodal the go-to event for shippers, importers, exporters, manufacturers, wholesalers, retailers – all seeking ways to run a slicker supply chain. Manufacturers. Multimodal 2015. Date: 28 – 30 April 2014.

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations

ThroughPut

Ship Smarter: How to Avoid Bottlenecks in Your Global Operations. You can’t just turn around a giant cargo ship. And when shipping to volatile countries, it becomes even harder. companies with global operations, one of the most effective ways to mitigate risk is to ship smarter. Once cargo has shipped, there are no “backsies.” And considering that our international tariff laws have been more dynamic in the past three years, shipping U.S.

Montreal-based ENERGY Transportation Group opens Chattanooga office

The Supply Chain Journal

Nearly 80% of the nation’s freight moves through Chattanooga, largely due to the convergence of three major internates: I-75, I-24 and I-59. Freight Alley, or the area in the Southeast U.S. Border Chattanooga TN Energy Transportation Group Freight Alley

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.

Freight Industry Insights – FreightPOP Interviews Mike Mortson

Supply Chain Game Changer

Do you have a Freight Management Strategy or are you Spinning your Wheels? Freight Industry article originally published by FreightPOP. We recently interviewed Mike Mortson, founder of Supply Chain Game Changer, about the trends he sees in shipping and freight.

10 Vital Supply Chain Lessons from the Coronavirus Pandemic!

Supply Chain Game Changer

China was locking down hundreds of millions of people and closing manufacturing facilities. As China is the largest manufacturing country in the world the economic repercussions were really starting to be felt. And with less manufacturing output there were fewer container ships leaving Asia full of goods meaning activity in ports in North America and Europe would slow down rather quickly. Automotive manufacturers are looking to manufacture ventilators.

Top 10 Global Supply Chain Risks

Supply Chain Game Changer

Risks exist in land, air and ocean freight. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value. For instance, the bankruptcy of South Korea’s 7th largest shipping company (Hanjin Shipping) led to a dramatic reduction in global supply chain shipping capacity. Extreme weather represents one of the most significant risks to ocean freight on the globe. Supplier consistency applies to manufacturers as well.

Importing From China! The Essential Guide! (Video)

Supply Chain Game Changer

The most important factor is that due to the lower cost of materials and wages, China can manufacture goods for a far more reduced price. What’s more, due to their expertise in mass production Chinese manufacturers are able to deliver a level of speed and efficiency unmatched by any other nation. This indispensable guide offers a helpful run-down of product selection, sourcing suppliers, shipping, and more. China #Import #Export #Logistics #SupplyChain #SCM #Freight.

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Is Your Supply Chain A Cost Centre or a Value Creator?

Supply Chain Game Changer

Lean for instance is equally applicable in Supply Chain as it is in Manufacturing or anywhere else. The Supply Chain in the Financial sector is different from Manufacturing and Distribution for instance. From the inbound perspective he Supply Chain team typically procures raw materials, expedites their delivery. Raw Materials, Buyers, Planners, Product Data Management, Commodity Managers, Freight and Logistics, Distributors, Suppliers, Systems (eg. Subscribe Here!

3 Technology Companies Disrupting Shipping

FLEXE

The speakers cover everything from air and ocean freight to trucking and warehousing. I’m Nerijus Poskus — Director of Pricing and Procurement at Flexport. Basically, responsible for ocean freight carriers, ocean ships that rely on truck companies. Nerijus: Flexport is a technology-enabled freight forwarder. Flexport is a freight forwarder that allows clients to make better decisions. More than half of Hanjin’s ships were chartered.

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. Reducing freight costs, improving supplier delivery performance, and minimizing supplier risk are three of the many benefits machine learning is providing in collaborative supply chain networks.

Supply Chain Predictions!

Supply Chain Game Changer

Check out Procurement Experiences, Trends and the Future! Tracking and Tracing of raw materials through manufacturing to the end customer must take on Amazon-like capabilities, meaning customers will know where their orders are at any one time, just like when you order from Amazon. You can uncover roadblocks within your supply chain that could lead to delays in shipping. SCM #SupplyChain #Business #Leadership #Logistics #Distribution #ECommerce #Retail #Freight #TMS.

The Pros and Cons: International and Domestic Sourcing

Unleashed

Low-cost country sourcing is a procurement strategy that falls under a broad category of procurement efforts called global sourcing. Leverage manufacturers and their network. Shipping costs. It might make sense to leverage the economies of larger manufacturers overseas.

The Data Behind Amazon’s Logistics and Fulfillment Play

Freightos

This is how he described their impact (emphasis added): “It may be because customers have such easy access to more information than ever before – in only a few seconds and with a couple taps on their phones, customers can read reviews, compare prices from multiple retailers, see whether something is in stock, find out how fast it will ship or be available for pick-up, and more. In other words, if your shipping your own goods, you’re competition. And As For Global Freight….

Data 172

Ways to think about the Supply Chain of the Future: Artificial Intelligence

Techgistics

According to an article published in The Economist , AI has reduced returns by 2 million units a year and is able to procure 200,000 ítems autonomously without human intervention. What new types of manufacturing and distribution business models could arise if AI can accurately predict at this level? Amazon autonomous cars e commerce last mile logistics robots Same Day Delivery self-driving cars Shipping startup supply chain Uber machine learing

FreightWaves Classics: The importance of logistics in the Korean War

The Supply Chain Journal

Navy’s Seventh Fleet dispatched a task force led by the aircraft carrier USS Valley Forge; the British Far East Fleet also dispatched several ships. and British ships provided air and naval support, blockaded North Korea and launched aircraft to delay NKPA forces.