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!

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

Cerasis

However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. As a result, an external benchmarking tool , explains Olga Rissin of CHAINalytics , offers the benefits of reducing internal spend and accessing outside data, which further drives competitive advantage and lower spend in managing the procurement supply chain. As a result, more shipments can be placed on “fast lanes,” reducing overall freight spend and duration of shipments.

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

Cerasis

Procurement must never be an afterthought in any enterprise. 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. The global supply chain creates many challenges and opportunities in procurement. Integrated Procurement and Payment Systems Simplify the Process.

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

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

Freightos

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX). The underlying premise dates back further, even for freight. In 1823, this was formalized into a committee to regulate the exchange of securities. By 1985, the Baltic Exchange published its first daily dry bulk freight index. The freight industry has been evolving, albeit slowly, in this direction and here at Freightos, we’ve been happy to play a role. A New Freight Index.

Advanced Strategies for Successful Ocean Freight Procurement

CHAINalytics

When it comes to ocean freight transport, shippers have benefited from almost a decade long “down-cycle” as far as rates are concerned. Over that period of time, shippers were able to secure capacity from a variety of competing carriers at a lower cost. However, bankruptcies, consolidations, and the reorganization of carrier alliances has drastically reduced … The post Advanced Strategies for Successful Ocean Freight Procurement appeared first on Chainalytics.

How Freight & Transportation Data Can Trim Your Transportation Spend

Cerasis

When you want to drive down your logistics and transportation spend, the very first thing that you need is freight and transportation data. In many different industries, it can be difficult to secure the kind of operational data you need to make a real impact on your spending. Accurate freight and transportation data is particularly important. With freight costs rising, the task of teasing out hidden costs is becoming increasingly critical. Freight Invoicing Reports.

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.

Blockchain Comes to the Freight Industry

Supply Chain Brain

Fuller, who is also chief executive officer of freight market analytics provider FreightWaves , saw the suitability of a technology that originally was created to support the trading of Bitcoin and other cryptocurrencies. There was a perfect storm in terms of interest in the technology and how it would potentially impact the freight industry,” Fuller says. As it stands today, however, blockchain isn’t a solution that can be instantly embraced by the freight industry.

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? Transparent & secure. The blockchain database is transparent and secure which makes payment process and settlement order easily accessible across different ledgers. It becomes easier for companies and individuals to bring in ethical procurement practices in place.

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.

Disruption in the Freight Brokerage Industry: How to Secure Your Brokerage’s Future

Parade

Freight brokerages and logistics companies with capital are aggressively purchasing other companies with technology assets— this behavior has been accelerating, with a different acquisition or merger taking place every two weeks. For example, earlier this year, Redwood Logistics bought Strive Logistics, and combined, they now have over $1 Billion in freight under management. big disruption in the freight brokerage industry is coming.

Four Ways to Secure Carrier Capacity Using Bid Optimization

Talking Logistics

Freight volumes have exceeded pre-recession levels with the ATA Tonnage Index setting record highs the past two months. To secure capacity in this very tight market, companies seeking carriers are paying closer attention to bid optimization solutions as a means of aligning interests from both parties. For truckload carriers in the freight network, a bid package could be set up to offer lanes the carriers have done in the past and those where they have equipment domiciles.

How to Plan for Common Disruptors in Ocean Freight

Talking Logistics

Peak season for ocean freight shipping is underway. This blog examines the “red” times, like the roughly three-month period we have just entered that is historically one of the regular disruptors in the ocean freight market. All of this will cause a tightening of space for ocean freight shipping. These disruptors are not regular; they may or may not create significant impacts on ocean freight service that would increase your business risk. Security.

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[INFOGRAPHIC] The Future Of Procurement: What Is Your Role?

Cerasis

At Cerasis we work with our shipper customers who procure items every day and have needs for inbound freight management as they secure those products from their vendors. Increasingly, as we work with procurement folks at these companies, we are hearing that technology for better communication and to create more efficiency. The Future of Procurement is Driven by Technology. In 10 years, your day-to-day job in procurement might be radically different.

Transportation Procurement: Still Standing on the Sidelines?

Talking Logistics

Have shippers taken their freight out to bid or are many of them still standing on the sidelines? This tightening capacity should have prompted shippers to go out to bid to secure their place in line, but it didn’t work out that way. Tim says that, “As the year went on, however, our customers were finding that their routing guides were broken, carriers were not living up to their commitments, and more of their freight was going to the spot market.

Why Now is the Perfect Time to Benchmark and Bid Your Carrier Rates

Talking Logistics

In today’s highly competitive marketplace, understanding how your company’s procurement strategy and results compare with industry peers is critical. Whether you need to inform management that your performance is superior or has improved, or identify opportunities in the procurement process to drive additional economic value – there is no better time to benchmark and bid your carrier rates than now.

The Invaluable Role of a TMS in Managing Full Truckload Shipments

Cerasis

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.

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

Supply Chain Game Changer

There are many factors which can lead to an inability to secure supply of the goods or services that you need to conduct your business. Their Sales teams will want to pad forecasts and hedge demand but their Procurement teams will want to give you forecasts that they are more confident in. Cyber Security and Systems Integrity. Cyber security is a very real and pressing matter. supplychainmanagement #riskmanagement #procurement #logisticsmanagement.

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. Extreme weather represents one of the most significant risks to ocean freight on the globe. Ecological responsibility and sustainable practices are both forms of social responsibility, and as more laws are passed governing the environment, ocean freight carriers will come under greater scrutiny, says Dave Blanchard of Industry Week.

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.

OPEC Or The Chinese New Year? Freight Prices Going Forward

Freightos

Freight Prices Going Forward. And they are also confident of soon securing a commitment from some non-OPEC countries to cut about 600,000 barrels a day. But even though this is effectively limiting production of 1% of the world’s global oil supply , it won’t impact freight prices. Looking back at ocean freight prices as a function of Brent crude oil in 2015, the correlation between fuel prices and freight prices is minuscule (-0.2

Blockchain for the Supply Chain: Reality vs. Hype

Supply Chain Brain

All must agree to the precise form of that document before the release of international freight and the transfer of funds. At the same time, technical standards are needed to govern the various processes that are unique to freight transportation and other logistics-related services. Standards are also needed for shoring up blockchain security. I do not believe that saying something is immutable is necessarily saying something is secure,” says Perez.

The Do’s and Don’ts of Going to Market with Your Transportation RFP

Talking Logistics

Only motivation is to save money on freight rates. RFP’s give you the opportunity to negotiate/award freight rates that will have a major impact on your budget for the year. Think outside the box, and look for opportunities to leverage continuous moves or dedicated operations to lower freight expense. RFP’s are beneficial for ensuring your rates are in line with the market as it becomes more challenging to secure capacity.

Flatbed Procurement: What’s Your Strategy?

CH Robinson Transportfolio

Flatbed Procurement: What’s Your Strategy? Whether you believe it or not, the key to successfully securing flatbed capacity (without breaking the bank) isn’t always about chasing the lowest price. Even shippers who have more difficult freight requirements can improve acceptance rates and thrive during a tight flatbed market. Do you conduct procurement events often enough and at the right time? All freight is not created equal.

Intelleflex Announces Cellular, GPS-equipped RFID Reader & Cloud-based ZEST™ Data Services Platform

Supply Chain Network

To achieve full efficiency, the supply chain needs secure, accurate and timely data on the inventory status and condition of its products. In the majority of today’s cold-chain operations, data from condition monitoring is either nonexistent or requires hours or days to procure – making it inactionable. Intelleflex ZEST Data Services is a secure, multi-tenant cloud-based data collection platform for aggregating permission-based sharing of information.

How to Navigate Temperature Controlled Shipping’s Fall Season

CH Robinson Transportfolio

As the market shifts, consider alternative options for securing capacity. As the seasonal demand for temperature controlled equipment shifts from one season to the next, accessing the capacity you need for your sensitive freight doesn’t have to be a challenge.

Imagining the Supply Chain of the Future!

Supply Chain Game Changer

The back bone of all of it is Digital Technology: The Internet of Things (IoT) End to End Digital Connectivity Cloud Computing Blockchain Big Data Artificial Intelligence Predictive Analytics Machine Learning Virtual Reality Augmented Reality Voice Activated Technology Wearable Devices Robotics 3D Printing and On Demand, Additive Manufacturing Cyber Security Autonomous Vehicles Drones Software as a Service (SaaS) and much more. Subscribe Here! Email Address.

Insights from MercuryGate User Conference 2014

Talking Logistics

How can a transportation management system (TMS) help companies find and secure truckload capacity in a capacity-constrained environment? Hope provided several examples, including MercuryGate’s tight integration with Freight Friend , which the company helped to launch in 2011. On the surface, Freight Friend has similar features to other online load boards.

4 Truckload RFP Strategies to Achieve Efficiencies and Cost Savings

CH Robinson Transportfolio

As we face unprecedented market volatility, it is increasingly challenging to forecast and plan your truckload procurement strategies. Be aware that lane consistency and volatility matter and can influence your procurement strategy. Procure IQ leverages data from C.H.

What Exactly is Blockchain? And How Does it Work? (Infographic)

Supply Chain Game Changer

When a block is completed, it creates a unique secure code that ties it to the next block.” Selected as one of the Top 75 Supply Chain Blogs, and one of the Top 25 Procurement Blogs, on the Internet. SCM #SupplyChain #Technology #blockchain #AI #Iot #Logistics #Procurement. Freight and Logistics Procurement Supply Chain Management Technology AI Blockchain IoT Logistics SCM supplychainSubscribe Here! Email Address.

The Pros and Cons of Air Charter Service

CH Robinson Transportfolio

Although not well known, it is possible to procure a partial air charter. This is a good option for situations when you do not have enough freight to fill a plane but still need capacity. Another challenge is that securing an air charter can be extremely difficult without the right relationships. Global Trade Resources Global Transportation air charter service air charters Air Freight global freight

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

The Logistics & Supply Chain Management Society

So how can companies in the GCC chemical industry secure the future of their supply chain networks via integration? Working closely with strategic teams and exploring implications for procurement, logistics and distribution, supply chain teams can better prepare for risks related to supply and demand. Ultimately, companies that appear robust, go beyond supply security and adopt multiple strategies to drive value.

Capitalising on Supply Chain Digitisation with Robotic Process Automation – 10 Areas of Opportunities – LogiSYM August 2020

The Logistics & Supply Chain Management Society

Procurement. Procurement can also have RPA do dynamic searches of websites to source or conduct market research for future buys and tenders. Freight Management. Freight management is driven by time-critical, manual tasks.

Be more Strategic about Your Supply Chain Sourcing

CH Robinson Transportfolio

Do you know which carriers handle the majority of your freight? Armed with your new knowledge the carriers that have the most to offer your business—both in cost and added services—return to the market and secure capacity accordingly. Business Innovation Supply Chain Consulting Global Supply Chain Procurement SourcingA strategic approach to sourcing what you need to keep your business moving can help avoid disruptions and stay competitive in today’s competitive market.