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.

Drop Shipping Teddy Bears!

Supply Chain Game Changer

As such the Category Managers were going wild with ideas on how to expand their product assortments and procuring new and interesting products to sell. the difference between the intended resale price and the cost of procuring the item from the vendor). This is drop shipping in action.

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

Full Truckload Technology: The Various Technology Involved in Full Truckload Freight Shipping Management

Cerasis

In full truckload freight management, technology will make or break plans for keeping freight spend in check. Demand for record-breaking speed of delivery and free shipping are only making the case for greater use of technology in full truckload freight shipping management, and shippers need to understand why. Amazon continues to push its own fleet forward, and the Big Box giants are willing to pay premium prices to get freight to market.

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.

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!

Digital Procurement Improves Supply Chain!

Supply Chain Game Changer

Digital Procurement article and permission to publish here provided by Katherine Barrios of xeneta.com. The Hackett Group has recently released their analysis of their procurement benchmarking database. It demonstrates the advantages of working with a digital procurement strategy.

Get the Biggest Bang for Your Freight Budget Dollar!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Freight Budget article and permission to publish here provided by Adam Robinson at Freightwaves. Freight costs and budget adherence are among the most important and often overlooked aspects of transportation management. Subscribe Here!

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. Brexit Will Continue to Cause Disruptions in Procurement.

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. For a closer look at how China’s regulations impact PPE shipping, check out our recent PPE exporting video featuring our director of product development, Vincent Wong. And due to the nature of the shipping industry, these regulations can change quickly—especially for medical grade equipment. Metered freight solutions. FCL and LCL expedited ocean shipping.

How the Covid-19 Crisis is Moving the Shipping Industry Towards a Spot Driven Rate Procurement Model and Reduce Cost through Shipsy’s Inquiry Module

Shipsy

The spread of the novel coronavirus causing COVID-19 is affecting the shipping industry in unprecedented ways. As a large number of containers are stuck in transshipment and countries have put restrictions on movement of ships to contain the spread of the virus, it has lead to a mismatch in the demand and supply in the market. Rate Procurement Through Inquiries In these testing times, shippers are now exploring spot rates in Shipsy’s Inquiry module to transport their goods.

How to Navigate Temperature Controlled Shipping’s Fall Season

CH Robinson Transportfolio

Robinson’s historical shipping trends show that this seasonal demand growth creates a “fall season,” similar to floral, produce, and grilling seasons. Temperature controlled shipping has four “seasons” based on demand.

How the Covid-19 Crisis is Moving the Shipping Industry Towards a Spot Driven Rate Procurement Model and Reduce Cost through Shipsy’s Inquiry Module

Shipsy

The spread of the novel coronavirus causing COVID-19 is affecting the shipping industry in unprecedented ways. Rate Procurement Through Inquiries In these testing times, shippers are now exploring spot rates in Shipsy’s Inquiry module to transport their goods.

UAE 52

Freight Procurement Solutions Are Transforming Supply Chains

Jaggaer

Why You Should Consider Freight Procurement Sourcing Solution. Procuring raw materials or finished goods is one thing, but the processing of moving those goods from one place to another brings its own set of challenges. Whether you’re in charge of ordering the “things” or managing how and where those things get from A to B, both sides of the procurement equation stand to benefit from freight procurement automation. The Challenges of Freight.

How to Procure Full Truckloads in Tight Capacity

Cerasis

The use of full truckload shipping is rising in popularity, resulting from its lower cost as compared to less-than-truckload (LTL) shipping. These rates will have natural implications for smaller shippers seeking to lower overall transportation and freight spend, and paired with a “blurred lines between peak shipping and shopping seasons,” shippers will experience increasing trouble when trying to procure full truckload capacity.

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. Shippers structure a successful RFP when they align themselves with carriers that fit their shipping profile.

How to Lower Your Ocean Freight Costs!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Ocean freight article and permission to publish here provided by Katherine Barrios at xeneta.com. Freight forwarders and shippers/BCO s are on a constant quest to have a better understanding of their ocean freight costs and ultimately have larger margins. Freight costs are considered by many forwarders and shippers to be a major part of their total shipment cost. Here are 15 tips for lowering ocean freight costs.

Cargo 53

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. By 1985, the Baltic Exchange published its first daily dry bulk freight index. Dataset proliferation, the ability to run complex calculations on the fly, and an increasingly data-driven orientation created a fertile ground for indexes, extending beyond finance, pork bellies, and freight. A New Freight Index.

Capacity Crunch Strategies: How Does a 3PL Aid a Shipper in a Shipping Capacity Crunch?

Cerasis

A shipping capacity crunch is a necessary evil. Unfortunately, a shipping capacity crunch tends to occur during already stressed periods, like winter, after tropical storms and during peak shopping seasons. 3PLs Bring Better Freight Shipping Rates During Shipping Capacity Crunch Hikes. Part of the problem with a shipping capacity crunch is lackluster networking. Multimodal Shipping Is a Key Benefit of Working With 3PLs.

How to Use Freight Attributes to Your Greatest Shipping Advantage

CH Robinson Transportfolio

How to Use Freight Attributes to Your Greatest Shipping Advantage | C.H. With the end of the year quickly approaching, some industries enter their busiest transportation season and others hit a shipping slowdown. In a previous post, I discussed aligning with service providers to best serve your freight attributes. Today, we’ll dig into how to and why you should accurately represent your freight. Use freight attributes to get the service you want.

Iowa 34

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. 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.

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

Cerasis

Fortunately, today’s logistics technology has the power to execute a winning inbound freight strategy and maintain compliance in the following ways. Using Logistics Technology to Execute a Winning Inbound Freight Strategy & Have Compliant Vendors. There are literally thousands of possibilities when it comes to selecting the best carrier, mode, insurance, protection plans, routes and other variables in modern shipping practices. Inbound Freight Logistics

Freight Consolidation for Full Truckload: The Hidden Gem of Full Truckload Shipping

Cerasis

Full truckload shipping is generally less expensive than other over the road transportation modes. Instead of throwing in the towel, shippers can leverage full truckload shipping to ship LTL shipments in the back of a full-size van or trailer. Unfortunately, the surrounding LTL shipping has resulted in an unusual problem; shippers are turning to LTL-exclusive shipments, which can significantly drive up freight spend. Freight Full Truckload

How to Plan for Common Disruptors in Ocean Freight

Talking Logistics

Peak season for ocean freight shipping is underway. Here’s an easy way to think about the regular and potential future disruptions that could impact your ocean shipping strategy, and what you can do to prepare for what comes next. At these times of the year, you should see less risk to your standard ocean shipping strategy. If you fail to book in time, you may miss your delivery deadlines, or will have to use an expedited shipping method to meet them.

BRIC 81

Imbalanced Investments: Transportation Spending vs. Procurement Technology (Part 1)

Supply Chain Network

Shockingly, though, companies are failing to invest in the necessary procurement tools to manage spend and optimize their transportation networks. Here’s the cliff-note version of the results; the full report is worth a thorough read : Transportation planning is sorely inefficient: According to the survey, only 25 percent of buyers are using a completely systems-based approach for procurement. Freight & Transportation Information Technology PaulMartyn Procurement

Five Technology Trends That Will Change Global Freight

Freightos

Five Tech Trends That Will Change Freight. Better last mile shipping. Persistent growth in ecommerce, door delivery and expectations for “free” shipping have many in the industry talking up the potential for drones to change the industry. However recent Freightos research found that only 32% of logistics professionals believe that drones will change the industry in the next five years (with nascent signs that drones are taking on some niche shipping tasks.

Ocean Freight Procurement and Going with the Stream

Freightos

The annual fixed-price contract is the current go-to for ocean freight procurement. Fixing a price is almost futile in a volatile market, and ocean freight now has much more volatility (both frequency and magnitude) than most other commodities. Just like streaming replaced that iPod as a better way of listening to music, ocean freight procurement now has a better way. But Does Fixed Ocean Price Procurement Need Fixing? Remember iPods?

Key Points for You to Consider in the TMS Procurement Process

TMC

Often at the top of the list is the need for streamlined shipping processes and visibility to all transportation activities in one technology platform. Common supply chain challenges that lead to a TMS purchase include procurement and transportation operations living as two separate functions, lack of visibility to freight movement, and limited control of freight from inbound suppliers. Procuring a TMS starts with an investigative process.

Key Points for You to Consider in the TMS Procurement Process

TMC

Often at the top of the list is the need for streamlined shipping processes and visibility to all transportation activities in one technology platform. Common supply chain challenges that lead to a TMS purchase include procurement and transportation operations living as two separate functions, lack of visibility to freight movement, and limited control of freight from inbound suppliers. Procuring a TMS starts with an investigative process.

Do I Really Need Full Truckload Shipping?

Cerasis

The question of necessity affects full truckload shipping decisions, and shippers might overlook full truckload options. However, shippers do need full truckload shipping, but they need to know how to take advantage of it properly to avoid ballooning freight spend and shipping costs. The Issue: Shippers Face More Challenges When Trying to Avoid Full Truckload Shipping. Spring shipping has not yet peaked & therefore, shippers need to prepare now.

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. With the new technology, blockchain, it is possible for purchasing agents or consumer to know from where products are procured and what it takes to transport it.

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.

Hanjin Shipping Bankruptcy

3PL Insights

Global Shipping Effects of the Hanjin Bankruptcy. Hanjin Shipping, a South Korean company and the seventh largest container shipper in the world, filed for bankruptcy on Wednesday, August 31, 2016, which has prompted significant questions and confusion around the world as to how this will affect global shipping. So how will this affect the global shipping and trade markets? Shipping prices have jumped — though it is likely temporary.

How to Be a Preferred Shipping Customer: Strategies for the Coming Capacity Shortage

Talking Logistics

Freight companies are eventually going to face severe challenges finding drivers to get your shipments where you want them when you want them there. Customers with a strict ‘procurement mindset’ overlook important factors like consistency, overall experience or past performance. Understand the full range of shipping alternatives your carriers can offer. Business has been improving for the U.S. trucking industry. The economy is continuing to regain momentum.

The Challenges & Steps in Procuring a Full Truckload as a Shipper

Cerasis

As a shipper, it can be hard to procure full truckloads, and small and mid-sized shippers suffer from an exacerbated version of this problem. Shippers face tightening capacity, higher rates, and demanding consumers, and procuring a full truckload may be the last thing on their minds. In reality, procuring a full truckload as a small or mid-sized shipper comes with unique challenges. Will the freight be competitive? The Comprehensive Full Truckload Shipping White Paper.

The Truth About Multi-stop Truckload Shipping

CH Robinson Transportfolio

The Truth About Multi-stop Truckload Shipping | C.H. If you rely on multi-stop truckload shipping as part of your strategy, you owe it to yourself to learn how to work more effectively with your carriers—which can also improve acceptance levels for these loads and help you better control supply chain costs. Continuous moves are a single load with multiple legs that was part of the procurement event and awarded to a service provider.