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.

10 Tips Shippers Can Use to Reduce Costs in LTL Procurement with Better Request for Pricing Bidding

Cerasis

at Cerasis, we know a thing or two about the nuances of LTL procurement. LTL procurement is something we do very well. So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. BONUS : Download the Guide To LTL Freight Mangement White Paper. 10 LTL Procurement Cost Cutting Tips. Routing guides optimize freight lanes and remove excess shipping costs. Logistics LTL ltl procurement

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX)

Freightos

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX). Today, the go-to metric for that question is typically Standard & Poor’s 500, the Nikkei, or the Dow Jones Industrial Average (a shockingly poor indicator , if you look closer). The underlying premise dates back further, even for freight. By 1985, the Baltic Exchange published its first daily dry bulk freight index. A New Freight Index.

The Reorder Point Formula: Everything You Need to Know

Unleashed

A carefully calculated reorder point is therefore critical to good stock control, and keeps your key metrics looking healthy for your next inventory report. Choose an online inventory management system that talks to your procurement software, keeps data up to date, and minimises human error.

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.

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.

eBook 100

The Disintermediation of the Supply Chain!

Supply Chain Game Changer

A truly efficient and effective Supply Chain must include a strategy, plans, business processes, and performance metrics that incorporate disintermediation and the elimination of waste! Think about the typical set of objectives and metrics associated with managing a Supply Chain. Business Process Optimization Freight and Logistics Lean Process Improvement Procurement Supply Chain Management Productivity improvementSubscribe Here! Email Address.

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.

eBook 56

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

Supply Chain Game Changer

Whatever your Industry you should be able to make comparisons to competitors, do benchmarking, and even compare yourself on key metrics across industries. From the inbound perspective he Supply Chain team typically procures raw materials, expedites their delivery. In areas such as E-Commerce the Supply Chain is instrumental in arranging delivery strategies such as Same-Day delivery and Drop Shipping, along with reducing freight costs to support Free Shipping services.

What Supply Chain Data Should I Track in 2020?

Veridian Solutions

To ensure your company tracks the right supply chain data in 2020, approach data management from a critical view—considering its impact from procurement through outbound freight and even reverse logistics. Metrics and KPIs Supply Chain Supply Chain DataSupply chain data management requires attention to detail and a mechanism in place that provides analytics, or insights, to gain actionable knowledge.

Data 43

Blockchain’s Coming to the Supply Chain - Eventually

Supply Chain Brain

Show notes: A previous podcast episode about blockchain in the freight industry. Sourcing/Procurement/SRM All Technology EDI Communication (XML/EDI) Global Trade Management SC Planning & Optimization Supply Chain Visibility Quality & Metrics Supply Chain Security & Risk Mgmt. When it comes to the deployment of blockchain in the supply chain, or anywhere else for that matter, these are still early days.

6 Trends to Make Supply Chain Managers the Heroes of Their Company!

Supply Chain Game Changer

Supply chain managers refocus their efforts to increase adherence to perfect order metrics and leverage marketing capabilities and capacities to their fullest potential. Logistics #Freight #SCM #SupplyChain #Business #Leadership #HumanResources. Guest Blog Post Human Resources Procurement Supply Chain Management Business Freight HumanResources Leadership Logistics SCM supplychainSubscribe Here! Email Address. Subscribe to Supply Chain Game Changer.

Gartner’s 2018 Top 25 Supply Chains List! Is it Still Relevant?

Supply Chain Game Changer

Gartner Survey Metric Notes: 1. SCM #SupplyChain #Logistics #Distribution #Technology #Leadership #Procurement #Purchasing #Freight. Supply Chain Management Distribution Freight Leadership Logistics Procurement Purchasing SCM supplychain TechnologySubscribe Here! Email Address. Check out 5 Trends in the Gartner Hype Cycle for Emerging Technologies. Gartner recently announced their 2018 Top 25 Supply Chains List.

The Supply Chain Detective™! In Search of Broken Supply Chain Clues!

Supply Chain Game Changer

You know the people, the processes and the metrics. Most companies have a Procurement function, Distribution, Logistics, Planning, Inventory Management, Product Data Management, and Operations. In the area of Procurement they did a lot of benchmarking and highlighted deficiencies in our materials costing and pricing processes, and the resultant uncompetitiveness and financial shortfall that resulted therefrom. Poor metric performance (eg. Subscribe Here!

7 Essential Attributes of Strategic Supplier Partnerships!

Supply Chain Game Changer

Whether the phrase refers to sourcing, procurement, relationships, or other matters, its use is prevalent. The baseline metrics for performance of a partner are the same operational parameters used for other suppliers. Leadership #Business #SCM #SupplyChain #Procurement #Purchasing. Freight and Logistics Guest Blog Post Procurement Supply Chain Management Business Leadership Purchasing SCM supplychainSubscribe Here! Email Address.

6 Trends to Make Supply Chain Managers the Heroes of Their Company!

Supply Chain Game Changer

Supply chain managers refocus their efforts to increase adherence to perfect order metrics and leverage marketing capabilities and capacities to their fullest potential. Logistics #Freight #SCM #SupplyChain #Business #Leadership #HumanResources. Guest Blog Post Human Resources Procurement Supply Chain Management Business Freight HumanResources Leadership Logistics SCM supplychainSubscribe Here! Email Address.

Supply Chain Personified! The Link Between Your Company Silos!

Supply Chain Game Changer

The responsibilities, metrics, skills, strategies and mandates for each function can cause people to put their functional focus ahead of the greater company objectives. The procurement of materials and goods and services, and the timing of this procurement, payment terms with suppliers, and the buildup and disposition of inventory all dramatically impact the amount of cash that a company has and uses. Procurement #SCM #SupplyChain #HumanResources #Business #Leadership.

Top 10 Tips for Career Success!

Supply Chain Game Changer

Business policies, ways of doing things, and metrics are all a result of human decisions. Freight and Logistics Human Resources Procurement Supply Chain Management Career LeadershipSubscribe Here! Email Address. Subscribe to Supply Chain Game Changer. Ground Rules for Creating a Game Changing High Performance Organization (HPO)! Success means different things to different people. How you define success is just as important as how someone else defines success.

IMO 2020 is Here. Are You Ready?

Supply Chain Game Changer

Under this regime, the primary responsible party in the freight market will be the vessel owner or operator. million metric tons annually. New fuel will likely cost more than current bunker fuels and fuel surcharges will likely be added by carriers & its expected to increase freight rates by at least 15% to 30% in 2020. will also need to update freight tariffs accordingly. Preparing for a New Marine Freight World. Subscribe Here! Email Address.

Top 5 Roadblocks to Effective Inbound Logistics Management

Cerasis

If your vendors do not understand your organization’s policies and procedures regarding inbound freight , how can they adhere to your needs? This means that a near-majority of companies are faced with the pitfalls of internal, low-guidance systems for managing both inbound and outbound freight. Approximately 54 percent of companies actively run metrics on inbound freight, but these metrics may be lacking. In other words, the term, “metrics,” can be deceiving.

Free Donuts or Freight Cost Savings?

Supply Chain Collaborator

Everyone likes free stuff; especially freight carriers who haul for organizations without TMS and the rules-based tendering such software delivers. Without TMS, a shipper cannot enforce rates, routing guide compliance and a host of other metrics critical to efficient transportation planning and spend. The post Free Donuts or Freight Cost Savings? November 5 was one of several annually-observed “Free Donut Days”. Did you get your free beignet, cruller or zeppole?

5 Ways to Prepare Your Supply Chain for an Efficient Holiday Rush

OneSCM

Smart supply chain directors collate and make sense of data metrics, using technology to eliminate data silos. A highly functional supply chain has increased visibility of freight, location of products, and inventory. Each shipper only pays for the weight of the freight and the space it takes up versus the full load. Ready or not, the holidays are coming.

10 Ways Effective Transportation Management Drives Competitive Advantage

Cerasis

Transportation management is no longer a tactical approach to simply moving freight and doing it at the lowest possible cost. As we head towards what many experts are citing as a 2017 carrier capacity crisis and growing demands from consumers to keep them happy call for shorter delivery cycles, the traditional strategy of procurement cost saving and shipment consolidation opportunities have to be supplemented through innovative solutions, to deliver the best bang for the buck.

9 Key Topics to Understand to Frame A Shipper’s Mind for Effective KPI Management with a 3PL

Cerasis

Editor's Note: As of late you may have noticed we have written a lot about procurement and the future of procurement. A large part of procurement is finalizing the contract and then the follow through of the determined deliverables in that agreement. The next step in procurement is then managing vendors and keeping service providers accountable for continued improvement. All KPIS have metrics to measure.

KPI 248

The Top 10 Supply Chain Blog Posts from 2017

Cerasis

Today, is day two of our annual year-end series highlighting the top blog posts in each of our 5 main categories: Manufacturing , Supply Chain , Logistics , Transportation Management , Freight. We want to make sure that supply chain practitioners, as well as manufacturers, understand how all of these technologies are affecting the entire supply chain, including the supply chain & procurement side of a manufacturing operation.

Gartner Top 25 Supply Chain List! Is it Still Relevant?

Supply Chain Game Changer

Gartner Survey Metric Notes: 1. SCM #SupplyChain #Logistics #Distribution #Technology #Leadership #Procurement #Purchasing #Freight. Supply Chain Management Distribution Freight Leadership Logistics Procurement Purchasing SCM supplychain TechnologySubscribe Here! Email Address. Subscribe to Supply Chain Game Changer. 5 Trends in the Gartner Hype Cycle for Emerging Technologies. Gartner recently announced their Top 25 Supply Chains List.

The Financial Dimension of Supply Chain Visibility [Episode Highlights]

Talking Logistics

If you think about it in terms of Total Cost Management/Spend Management, when you start to talk about things like contract negotiation, having better insight into your spend, and understanding the metrics around it, all of which obviously provides valuable insights and helps you with those negotiations. This is where financial visibility – especially from an accounting or procurement perspective – plays into the organization.

Top 15 Logistics Blog Posts of 2014

Cerasis

To that end, every warehouse manager’s role is to manage the physical environment, loadshifting equipment and people, to decrease the chances of collision and accidents, and often, to help the flow of freight via outbound and inbound freight management; an entire process known as warehouse traffic management. The Ultimate Guide for Effective LTL Freight Management : we put on a 60 minute webinar entitled, “Best Practices for Effective LTL Freight Management and Shipping.”

Sustainable Logistics: Quantifying Sustainability Measures of Your Logistics

Cerasis

WorldShipping.org cites data from The Network for Transit and the Environment that shows that measured by grams/kg/km air freight as the largest carbon footprint impact and steamships as the lowest. According to the American Trucking Association, in the USA trucks move 11 billion tons of freight each year; deliver 100 percent of all consumer products and 70 percent of all freight tonnage; and deliver to the 80 percent of U.S.

The Top 5 Transportation Management Blogs of 2016 …So Far

Cerasis

Today, we wrap up our series on the top 5 blogs in our 4 main categories ( Freight , Manufacturing , Logistics , and Supply Chain ). Yet, all metrics and scorecards are not equal, and you need to know what metrics should be included in your carrier scorecard. But, knowing where LTL shipping mistakes are likely to occur can help shippers ensure their freight is delivered according to their expectations and needs.

3 Requirements for Meaningful & Useful Data in Transportation & Business

Cerasis

The methods of evaluating metrics or developing KPIs vary significantly from company to company. If you are looking for more insights from your data in transportation, contact Cerasis to inquire about our reporting we provide to our shipper customers who use our transportation management system as an enablement tool towards transportation procurement efficiency. As data in transportation becomes more abundant and readily available, the question of “ What data is available ?”

How to Capture Full Divestiture Value with a 3PL

Talking Logistics

This assessment identifies the most important capabilities for which the newly divested company needs to account, which may include functions such as Procurement, Purchasing, Accounting and Supply Chain Operations itself. Made between a buyer and seller, a TSA sees that the ‘mother-ship’ provides support to the divested company over a defined period of time, with services such as accounting, IT, procurement and human resources, among others.

3PL 136

Five Causes of Analysis Paralysis You Can Avoid

TMC

Either way, a surfeit of data can gum up the decision-making process and make it more difficult to pinpoint the root causes of problems that are undermining the efficiency of your freight network. For example, the shipping department needs to monitor metrics such as on time delivery and cycle times, but procurement relies on a different mix of measures. It’s easy to get bogged down in streams of data generated by inappropriate metrics.

Five Causes of Analysis Paralysis You Can Avoid

TMC

Either way, a surfeit of data can gum up the decision-making process and make it more difficult to pinpoint the root causes of problems that are undermining the efficiency of your freight network. For example, the Shipping Department needs to monitor metrics such as on time delivery and cycle times, but Procurement relies on a different mix of measures. It’s easy to get bogged down in streams of data generated by inappropriate metrics.

Is Inventory Waste or an Asset?

Supply Chain Shaman

While forecast accuracy, if used well, can reduce safety stock, what I find in the study of the global multi-national is the rise of cycle stock due to increased item complexity, and the increase of in transit inventories due to longer freight lanes and longer cycles in ocean transportation. Cycle stock is the management of stock required to cycle through production runs and procurement buys effectively.