Supplier Risk Management: 4 Things To Look Out for During On-Site Evaluations

Cerasis

This post is the second in a series of “How to Spot Supplier Risk.” ” In the process of business procurement and especially in the supply chain, supplier risk management is a skill set that needs focus day in and day out. Enhancing Supplier Risk Management Through On-Site Evaluations. The second article in our series on identifying supplier risk explores what to look for during on-site evaluations.

Supply Chain Risk Management and Rocket Science

Logility

I became very familiar with risk management early in my professional career. As in the aerospace industry, pushing the supply chain envelope involves increased risks that need to be analyzed and mitigated, if possible, or at least planned for. Each stretching of the envelope generates unique risks. Expansion strategies often inadvertently drive up the complexity and cost of international transportation, which in turn injects a multitude of risks.

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

Supply Chain Game Changer

In thinking about the show and its construct I thought about the incredible amount of risk that the performers and producers are managing. These world class performers have astonishing talent but they are also working in an environment designed to eliminate risk and maximize safety. Supply Chain Professionals, although not usually theatrical, also work in an environment in which they are managing a tremendous amount of risk. Supply Chain Risk Management.

Supply Chain Risk Management Highlighted by a Tiny Computer Chip

Enterra Insights

” Aside from national security implications, the main lesson to be learned here is how vulnerable companies are to risks associated with their supply chains. Lillian Ablon, an information scientist at the RAND Corporation, told Koebler and Cox, “Supply chain risk management is difficult enough for conventional threats (disruptions in operations caused by natural disasters, financial failures, poor quality, etc.).

Risk Management: Is 2018 the Year of Living Dangerously?

Enterra Insights

It has also always had issues: supply chain complexity; global competition; information collection challenges; and greater risk from global events including natural disasters, port closures and anti-global sentiment. ” Taken as a whole, the issues raised by Monahan and Gott are enough to keep any risk manager awake through the night. ”[2] Those risks are: 1. As we step into 2018, enterprises must realize the risks associated with their IoT ecosystem.”

Freight Transportation & the Coronavirus: Forecasting the Near-Term Effects with MIT Professor Yossi Sheffi [Podcast]

CHAINalytics

The post Freight Transportation & the Coronavirus: Forecasting the Near-Term Effects with MIT Professor Yossi Sheffi [Podcast] appeared first on Chainalytics. Blog Feature Freight Market Intelligence Consortium Supply Chain Intelligence Transportation Coronavirus COVID-19 Crisis Management FMIC FMIC Pulse freight transportation risk management Risk Mitigation Transportation Intelligence

Supply Chain Risk Blog Series#1: Why Supply Chain Risk Management Should be a High Priority

BluJay Solutions

Managing the inherent risk in a supply chain has always been critical for businesses, but has become ever more so as supply chains have extended globally. With so many companies today deriving and delivering so much of their business across a larger geographical expanse, the inherent risk factor has increased exponentially in the last decade or two.

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. Our proprietary Risk Calendar envisions times of the year when disruptions may occur, and why. At these times of the year, you should see less risk to your standard ocean shipping strategy. All of this will cause a tightening of space for ocean freight shipping.

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Freight Data Trends for 2019 and How a TMS Will Grow in Value

Cerasis

The application of data can help shippers gain control of shipping costs and make informed decisions, and the top freight data trends for 2019 exemplify how the use of a transportation management system (TMS) can further this cause. Shippers need to consider how the freight data trends will affect dropshipping, omnichannel shipping, reporting capabilities, and much more. As omnichannel shopping becomes the standard for consumers, the use of freight data will excel.

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7 Challenges Facing Supply Chain Leaders in 2019

CHAINalytics

Blog Feature Integrated Demand & Supply Planning Managed Analytics S&OP Supply Chain Design Supply Chain Operations Transportation Cost-to-Serve E-Commerce ELD Freight Capacity freight transportation IBP macroeconomic trends make or buy network optimization Omni-channel risk management segmented planning supply chain alignment supply chain innovation Supply Chain Network Design supply chain segmentation supply chain technology talent management

Supply chain risks: The knowable unknowns that can hurt your supply chain!

Kinaxis

The new CEO embarked on several cost reduction initiatives in conjunction with a number of changes (some may argue too fast and too soon) on how the company operates its freight-trains. Often times, someone in the procurement organization is aware of change in lead times through supplier monitoring/scorecarding, supply chain risk management and such. The post Supply chain risks: The knowable unknowns that can hurt your supply chain!

Guide For Supply Chain Risk Management - How to Identify, Validate, and Assess

EFT

Insurance companies talk about supply chain risk in terms of assets. These diverse interpretations make identify risks more challenging. Surprisingly, many supply chain risk discussions exclude the actual supply chain. As a result, they overlook risks. Yet, such details can cause risk. There are many kinds of risk-- organizational, operations, strategic, and commercial. Company management. Risk is also caused by the trade parties.

Countdown to Black Friday: Are You an Easy Target for Cargo Theft?

Talking Logistics

But while we are in the midst of a season notorious for a spike in cargo thefts , there are a few precautions you can take to protect your freight. Remember that freight at rest is freight at risk. The more time freight spends sitting unattended, the likelier the chances are for truckload theft. Try to keep the amount freight that’s shipped out over weekends to a minimum, or work with your carriers to avoid prolonged stretches in drop yards.

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Freight Broker Business: Increase Shrinking Margins With Better Analytics

Turvo

Maintaining a freight broker business and helping it stand out from the crowd is more difficult than ever. Unfortunately, that does not always amount to spending money reasonably and maintaining control over freight spend. For those operating a freight broker business, the challenges are greater. These forecasts can also help brokers, shippers and fleets take a lot of the guesswork out of a proposal to move freight, say, a year from now. Analytics Freight Broker

Don’t Wait for Dwell Time to Delay Your Freight

TMC

Here are three ways that shippers and beneficial cargo owners can mitigate the risk of excessive dwell time in any port. A transportation management system (TMS) can be used as a communications hub to maintain a high level of supply chain connectivity. Expediting freight from port to end customer can become costly, especially for low-margin product. Review global trade management processes. Risk Management Transportation Management

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Don’t Wait for Dwell Time to Delay Your Freight

TMC

Here are three ways that shippers and beneficial cargo owners can mitigate the risk of excessive dwell time in any port. A transportation management system (TMS) can be used as a communications hub to maintain a high level of supply chain connectivity. Expediting freight from port to end customer can become costly, especially for low-margin product. Review global trade management processes. Risk Management Transportation Management

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This Week in Logistics News (September 12-16, 2016)

Talking Logistics

Are you attending the Council of Supply Chain Management Professionals (CSCMP) Annual Conference later this month (September 25-28 in Orlando, FL)? If so, I invite you to attend two of the sessions that I am participating in, both related to transportation management: TMS 4 SMB: A Case Study with Carhartt. Speakers: Sharon Perry, Vice President of Logistics, Carhartt; Gregg Lanyard, Director, Product Management, Manhattan Associates; Adrian Gonzalez, President, Adelante SCM.

The State of Uncertainty in the Freight Market!

Supply Chain Game Changer

Freight market article and permission to publish here provided by Kevin Jessop at cerasis.com. Meanwhile, the global air cargo volume has dropped significantly, explains Greg Knowler, JOC Senior Editor , “up to 5,000 tons of cargo in air freight from China to the U.S. The impacts are not just limited to air freight market changes. providing “inbound and outbound distribution, reverse logistics management and inventory management” services in the country.

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Enabling Supply Chain Flexibility: Two Important (But Often Overlooked) Factors

Talking Logistics

In light of these risks, developing a flexible supply chain is the best strategy for success, but what does that mean exactly and how can companies get there? That was the central question Matt Castle, Director of Air Freight Services at C.H. 3PL Episode Highlights Global Trade Management Supply Chain Risk Management Transportation Management C.H. Robinson freight forwarding supply chain flexibility

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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!

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This Week in Logistics News (February 23-27, 2015)

Talking Logistics

DHL launches next phase Resilience360 risk management tool to help customers avoid global disasters. December 2014 North American Freight Numbers. Among 3PLs, DHL is arguably one of the leaders in providing risk management capabilities and insights to clients. The company announced this week enhanced new capabilities to its risk management solution Resilience360. December 2014 North American Freight Numbers : U.S.-NAFTA

Wanted: Supply Chain Architects!

Supply Chain Shaman

When I moved into industry, and the real world, I managed engineering teams. Each project would usually have a cool name, and management exposure. I relished the sound of a manufacturing line when I opened the door of the factory in the morning, and I liked managing inputs so that we could maximize outputs. Manufacturing is the foundation of my interest in supply chain management. I knew nothing about the world of logistics, inventory management and order optimization.

This Week in Logistics News (June 23-27, 2014)

Talking Logistics

In other news… Supply Chain Risk Management Now a Priority for Most Businesses ( Accenture ). April 2014 North American Freight Numbers. Several reports have been published in recent years underscoring the growing importance of supply chain risk management. This includes investments in “technology and/or organization that provides visibility within and/or across the Supply Chain that highlights trends and potential risks.”.

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Top 10 Talking Logistics Videos and Posts in 2017

Talking Logistics

Unlearning Supply Chain Management. The Best is Yet to Come with Transportation Management Systems. The Business Case for Freight Visibility. Managing Supply Chain Risks: The Role of Digitalization and Cloud Technology (tied for 10th). As 2017 comes to an end, a quick thank you to all of our readers, followers, and sponsors for another great year of learning and conversation on Talking Logistics.

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A Tipping Point?

Supply Chain Shaman

For the larger supply chain (the larger freight infrastructure of the North American market), I worry. While both Kraft and Heinz are under performing (Kraft has a low ROIC and Heinz is below the industry average in both operating margin and inventory turns) , there is M&A risk. Kraft is a major shipper in North America, and is very mature at the management of freight. ” As a result, the loading of freight lanes will change.

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 evolve and become more prevalent with time. Risk management strategies of yesteryear are ineffective in the changing landscape, and no type of transport can avoid risks. Risks exist in land, air and ocean freight. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value.

This Week in Logistics News (January 19-23, 2015)

Talking Logistics

LLamasoft and CHAINalytics Partner to Provide Integrated Access to Freight Market Intelligence. Teamsters lose another vote at FedEx Freight facility (Reuters). ” Companies have historically overlooked B2B Connectivity when evaluating supply chain software solutions, such as transportation management systems. Supply chain management is all about risk management, and this is a great example of how third-party logistics providers (3PLs) need to redefine themselves.

23 Reasons the Ideal TMS is best for LTL Freight Shipping

Cerasis

However, the needs of the modern shipping industry have reached an optimal point, and the only way to further push the envelope is by using a dedicated transportation management system (TMS). The Ideal TMS Helps Complete Warehouse Management. The ideal TMS can maximize the efficiency of a warehouse and directly affect inventory management. As a result, the amount of inventory can be managed to reflect the consumer demand. Freight Consolidation.

Citations of Excellence Awards 2016

SCM Research

The Reduction of Greenhouse Gas Emissions from Freight Transport by Pooling Supply Chains. Data Science, Predictive Analytics, and Big Data: A Revolution That Will Transform Supply Chain Design and Management. Research Theory Supply Chain Management Supply Chain Risk Management Article Supply Chain Sustainability Award Technology

This Week in Logistics News (June 20-24, 2016)

Talking Logistics

April 2016 North American Freight Numbers. Cass Freight Index Report – May 2016. In other news, The Council of Supply Chain Management Professionals (CSCMP) released its 27th Annual State of Logistics Report, which revealed that “total U.S. The company cited a weak freight market, lower fuel surcharges and higher costs, among other factors, for the revision.

This Week in Logistics News (January 4-8, 2016)

Talking Logistics

INTTRA Collaborates with JDA Software for Streamlined Transportation Management. LoJack SCI and TransVoyant Partner to Deliver Supply Chain Risk Alerting. Transervice Announces Launch of Tech-Based Freight Management Company. Another example of how transportation technology and managed services are merging: Transervice Logistics Inc. The good news is that I didn’t break any bones skiing during the holiday break.

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Identity Theft, Trucking Style

Talking Logistics

Then the con artists offer low bids to freight brokers who handle shipping for numerous companies. Here are my three simple tips to prevent cargo theft in general (or at least minimize the risk): 1. The longer a loaded trailer or container sits unattended, the higher the risk for theft. And you should collect data on where (and for how long) loaded trailers/containers sit along your supply chain to understand where you face the greatest risk for cargo theft.

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Listen to El Niño: Why Developing a Flexible Supply Chain Matters

Talking Logistics

In light of these risks, developing a flexible supply chain is the best strategy for success, but what does that mean exactly and how can companies get there? That is the central question Matt Castle, Director of Air Freight Services at C.H. Robinson , will address in this episode, as well as… How can companies gain greater visibility of developing risks? 3PL Supply Chain Risk Management Upcoming Episodes C.H.

This Week in Logistics News (April 1-5, 2019)

Talking Logistics

Speaking of supply chain risk management, Transplace (a Talking Logistics sponsor) announced this week a partnership with Riskpulse “to enhance real-time, predictive risk analytics capabilities.” Partnering with Riskpulse allows Transplace shippers to mitigate disruption by providing true visibility to those shipments most at risk of service delays and proactively making decisions to make adjustments to optimize shipping performance and reduce losses.”.

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This Week in Logistics News (November 11-15, 2013)

Talking Logistics

Freight Shipments Rose 0.8% University of Maryland Selects Resilinc as Supply Chain Risk Partner. What the Gap is doing underscores how mobile and BI/analytics technologies are playing an important role in omni-channel fulfillment — and how the users of inventory management systems are not just the inventory analysts at headquarters or store managers, but also millions of consumers walking around with smartphones and tablets looking to buy an item now.