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Freight Procurement in a Pandemic: Preparing for the Bid

CHAINalytics

If your company has decided to tender its freight to secure new contract rates for 2021, you’ve got your work cut out for you. This is especially true when it comes to figuring out the lanes and volumes to include in the bid.

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

Cerasis

Getting the raw materials needed to maintain production is one of the most important parts of the whole supply chain. However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. Manufacturers must work to consolidate incoming supplies and outgoing shipments to make their incoming and outgoing freight more attractive to major carriers. Consider Cyber Security Concerns in the Procurement Supply Chain.

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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. Manufacturers need to have the right raw materials and supplies available. Supply chain entities need to know vendors will be held accountable and adhere to the terms within vendor-supply chain partner service level agreements. Supply chain professionals must also know how they will be shipping freight. Companies Will Seek New Ways to Use Technology in Procurement.

Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Subscribe to 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.

Why Blockchain Within The Supply Chain Makes Perfect Sense

Cerasis

Editor’s Note: Today’s blog is from Kevin Doubleday who discusses the importance of blockchain within the supply chain. Current Supply Chains don’t operate at the cadence of business. Integrating Blockchain within the Supply Chain could change that. When we are asked about “killer” use cases for blockchain within enterprise systems, Supply Chain is the usual suspect — and for good reason.

How to Get a Job in the Supply Chain Sector

Logistics Bureau

So, you are thinking about a career in supply chain? While this article is intended as an evergreen resource, to help you navigate in your search for a supply chain job, and is not a COVID-19-specific guide, the pandemic has galvanized attention on the industry and its criticality.

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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2016 Supply Chain Trends: 7 of 12 Trends that Will Drive Supply Chain Management in 2016

Cerasis

We kick off today a month-long focus on trends in the following categories: Manufacturing, Manufacturing Technology, Supply Chain, Logistics, and Transportation Management. 2016 Supply Chain Trends: The First 7 of 12. Today we will begin our two part series covering the 2016 supply chain trends we expect to see come to fruition in the next year. What 2016 Supply Chain Trends to you expect to see? But, Wait.What is the Digital Supply Chain?

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5 Ways Temperature Controlled Shippers Can Boost Supply Chain Efficiency

CH Robinson Transportfolio

The increased need for adaptability and agility sums up what nearly everyone is feeling these days—this is particularly true for companies shipping temperature sensitive freight when timing is critical. Adapt to changing conditions through supply chain efficiency.

Managing Supply Chain SLAs Through Blockchain: Is Blockchain the New Incoterm?

Cerasis

Managing supply chain SLAs have the added complication of geographic and cultural barriers. In response, supply chains have relied on a series on defined terms for use in international SLAs, Incoterms. The list of Incoterms is created and managed by the International Chamber of Commerce , and managing supply chain SLAs relies heavily on this decades-old list to ensure consistency and clear communications in contractual details for moving freight.

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 exist in land, air and ocean freight. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value. Understanding the top 10 global supply chain risks can work to reduce their impact. As explained by Lucy Dixon of Supply Chain Digital , economic instability represents another threat to global trade.

Handfield’s Supply Chain Analytics Predictions for 2014

Supply Chain View from the Field

I’ve had the good fortune to be presented with opportunities for compelling discussions with a significant group of leading thinkers, senior executives in procurement, logistics, and technology management over this past year. We just finished hosting over 150 executives at our Supply Chain Resource Cooperative, with a theme on Supply Chain Analytics. Here is what I expect to see next year: Global supply chain footprints will continue to expand.

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

The Logistics & Supply Chain Management Society

RPA as it is also referred to, has the capability to transform supply chain management. For an industry that increasingly requires higher logistics pipeline velocity without sacrificing accuracy and at lower costs, RPA is a natural choice for high performing supply chain organisations.

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. Develop clear bid objectives, mandates, and supply chain change requirements.

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

Supply Chain Game Changer

Subscribe to Supply Chain Game Changer. Is Your Supply Chain Ready To Recover? Supply Chain Professionals, although not usually theatrical, also work in an environment in which they are managing a tremendous amount of risk. What are the risks that Supply Chain people deal with every day and what is Supply Chain Risk Management? Supply Chain Risk Management. Types of Supply Chain Risk. Subscribe Here!

Why investors are looking at supply chain technologies in 2020

Requis

Since the coronavirus pandemic took hold earlier in 2020, supply chain has become a household word. Investors, like the public, have woken up to the fact that supply chains are the engine driving economic prosperity. Supply chain, it seems, is ripe for disruption.

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

The Logistics & Supply Chain Management Society

Following COVID-19 the global chemical supply chain market reported a severe decline in output. Overcoming these challenges, regional chemical manufacturers and suppliers are now forced to rethink and readjust their global supply chain model. The answer – supply chain integration. Collaboration amongst partners is essential to address challenges, ranging from demand-supply volatility to fulfilling orders on time.

The state of supply chains: Aerospace

EFT

Aerospace supply chains stalled in March when Covid-19 saw airlines ground most of the world’s passenger aircraft. The supply chain was working hard, investing in capability and capacity to allow an increase in the number of aircraft being produced.

Imagining the Supply Chain of the Future!

Supply Chain Game Changer

Technologies Reshaping the Global Digital Supply Chain! Imagine what the future will look like in Supply Chain! There are articles which describe what the future of Supply Chain will be like in 2020, 0r 2025, or even 2030. The technologies that we are familiar with today, whether they are already in use in our companies, aspirational capabilities or part of some far reaching strategy, provide the platform for the Supply Chain of the future.

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.

6 Digitization Steps to Overcome Supply Chain Disruptions & Build Resiliency

Turvo

The costs of supply chain disruptions vary based on the severity of the disruption, how quickly companies recover, and numerous other factors. According to Supply & Demand Chain Executive , supply chain disruptions resulted in costs of more than $56 billion in 2015, and five years later, that average is on track to more than double following the coronavirus crisis. They enable continued work in areas with a lower impact from supply chain disruptions.

Blockchain for the Supply Chain: Reality vs. Hype

Supply Chain Brain

You’d be hard pressed to find a major industry today that isn’t talking up blockchain as a cure-all for the ills of global supply chains. The idea of a virtual, distributed ledger that can serve as an indelible system of record for any number of business transactions between supply-chain partners — well, it’s irresistible. Global supply chains, by definition, consist of multiple, independent partners, making them ideal candidates for blockchain.

Blockchain’s Coming to the Supply Chain - Eventually

Supply Chain Brain

When it comes to the deployment of blockchain in the supply chain, or anywhere else for that matter, these are still early days. The technology shows promise, but is far from fulfilling its touted role as an indelible system of record for transactions among supply-chain partners. Most companies are still just in the “tire-kicking phase,” says Chris Kirchner, chief executive officer and co-founder of Slync , provider of a blockchain platform for the supply chain.

The Supply Chain Control Tower! An Assessment!

Supply Chain Game Changer

The concept of the “control tower” is increasingly becoming widespread in Supply Chain Management, and Control Tower technologies are a popular topic right within the supply chain community. A supply chain control tower system is an attempt to make the outside supply chain environment visible to the enterprise, with “end-to-end” visibility being the Holy Grail. Complexity: Today’s supply chains have become incredibly complicated.

Using Logistics Technology to Execute a Winning Inbound Freight Strategy & Have Compliant Vendors

Cerasis

Meanwhile, the importance of vendor compliance has grown more than ever as supply chains expand, explains Lisa Terry of Inbound Logistics, and companies look to trim the fat and optimize workflows to gain a competitive advantage. Fortunately, today’s logistics technology has the power to execute a winning inbound freight strategy and maintain compliance in the following ways. One of the biggest risks in using paper guides for vendor inbound logistics is security.

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.

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.

28 supply chain professionals share the biggest challenges of supply chain management

6 River Systems

Supply chain management is a multi-faceted process with many stakeholders and even more moving parts. New technology aims to make the supply chain more efficient, yet investing in the wrong technology further complicates productivity while hindering profitability. Effective supply chain management offers numerous benefits for companies, so overcoming challenges to keep things running smoothly is a top priority for supply chain professionals.

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., Depending on the product, the supply chain can go into hundreds of stages, to multiple locations across the world, a horde of invoices and payments and inclusion of many people and businesses, and delivery may even be spread to a few months. This is where Blockchain is ready to transform the way the supply chain and logistics industry works.

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. Simple pricing theory dictates that if you increase supply more than demand, prices will fall. Phil adds that something else has contributed to declining freight rates.

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.

McDonald’s Supply Chain Challenge: Switching from Frozen to Fresh Burgers!

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. What Supply Chain Lessons Can We Learn? Back in early 2018, McDonald’s – a pioneer in cold chain distribution – announced that it was testing out using fresh patties instead of frozen in burgers at 300 of its U.S. The chain has lost 500 milion restaurant visits since 2012, according to CIPS, as customers have flocked to more fast-casual alternatives. Subscribe Here!

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How to Plan for Common Disruptors in Ocean Freight

Talking Logistics

Peak season for ocean freight shipping is underway. That can make it difficult to meet your delivery times unless you take proactive steps now to minimize the risk in your supply chain. 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. Security.

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50 expert tips on supply chain management

6 River Systems

The COVID-19 pandemic caused unprecedented global supply chain disruptions, impacting the flow of parts and finished goods around the world. At the same time, supply chain disruptions resulted in shortages of vital parts and components, and retailers such as grocery stores faced challenges keeping items like toilet paper, hand soap and sanitizer and disinfecting wipes on their shelves. Build flexible supply networks to minimize the risk of disruption.

Be more Strategic about Your Supply Chain Sourcing

CH Robinson Transportfolio

Interrupted supply chains can mean costly delays and unsatisfied customers. 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. Building your strategy should be about staying open to change as conditions shift so you can gain an effective, efficient, and cost-competitive supply chain.