Supply meets demand: New sourcing automation solution targets ocean freight procurement

Manufacturing & Logistics IT

Global provider of Intelligent Sourcing Automation, Keelvar, has launched its new AI-powered ocean freight sourcing automation solution

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.

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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.

Sourcing capacity, finding freight don’t have to take all day

The Supply Chain Journal

Digital freight matching tools take the time-consuming legwork out of matching freight to trucks. Santos started out as a traditional freight broker. Evotrux offers users a simple four-step freight matching process: Shipments are posted. Freight is booked.

Demystifying Transportation Sourcing – A Practitioner’s View

EC Sourcing Group

Demystifying Transportation Sourcing. If you are like me, transportation sourcing is a mind boggling and complex field. This article is about creating value in transportation sourcing. Applying sound sourcing principles will enable you to unlock value.

Freight railroads set green goals

The Supply Chain Journal

CP ’s ( NYSE: CP ) Climate Strategy , published in July, reflects many of the initiatives that the broader freight rail industry is pursuing. Subscribe to FreightWaves’ e-newsletters and get the latest insights on freight right in your inbox.

The Top 5 Reasons You Need a Transportation Sourcing Solution

Talking Logistics

However, if your role is managing the movement of widgets from point A to point B, or multiple points, the freight procurement task before you can be labor intensive and time consuming — unless you use a technology solution specifically designed for transportation sourcing. Here are the top five reasons you need a transportation sourcing solution: 1. Freight is unique. Freight sourcing is as unique and complex as the transportation industry itself.

2021 Logistics Outlook: Truckload Freight Market Forecast

GlobalTranz

To help shippers prepare, we will examine contributing factors that will play a significant role in the 2021 truckload freight market. Consumer Spending Shifts Will Continue To Impact The Truckload Freight Market. Tips for Controlling Truckload Freight Costs in 2021.

Future of Freight Festival now a virtual event for 2021

The Supply Chain Journal

As many of you know, the Future of Freight Festival (F3) was on track to be our biggest and most awesome in-person event ever. However, after careful consideration and input from numerous sources, we can’t in good faith host the in-person event knowing the risk this virus poses.

How Can Advanced Sourcing Help Your Business?

EC Sourcing Group

Sourcing is the term used when the purchasing department is searching for the right supplier (or group of suppliers) to fill a particular need, typically a good or service, to fulfill a purchasing order. Advanced Sourcing Optimizers and Tools: What Are Your Sourcing Challenges?

Why Companies Outsource Freight Audit and Payment

Intelligent Audit

Freight audit and payment processing play a crucial role in ensuring shippers only pay for actual costs incurred and not for errors caused by carriers and other service providers. The Decision to Outsource Freight Audit and Payment Reflects Increased Use of Data.

FedEx Freight reverses service suspensions after outcry from big retailers

The Supply Chain Journal

FedEx Freight (NYSE: FDX ) is walking back its recent abrupt suspension of service to a portion of its customer base after ruffling feathers of key stakeholders that made known their displeasure, according to communications from the company and logistics industry executives.

Responsible Sourcing! Making Sustainability Happen for Real!

Supply Chain Game Changer

Sustainability is created at the source of our products, services, and consumption. Sustainability is created from Responsible Sourcing. How can you make Responsible Sourcing a Reality? If you can excite the people around you about sourcing responsibly, chances are you’ll be able to formulate a network of internal champions. in this case, responsible sourcing. Source Smarter. Source: Purina. Source: Nestlé. procurement #sourcing #purchasing.

Freight Audit: 10 Freight Invoice Considerations Impacting Spend

Intelligent Audit

While traditionally these programs are called freight audits, it isn’t solely about LTL or FT. Freight Invoice Error Rates Remain a Constant Threat. But how often does a freight invoice contain errors? Single Source of Truth.

Improving Global Freight Process Management

Talking Logistics

Many companies operating in the United States have achieved an inclusive look into their transportation spend, but unfortunately many companies that do business on a global level have struggled to achieve full freight process management. State-of-the-art transportation management systems (TMS) certainly help with planning and execution, but advanced freight audit and payment processes are also vital toward obtaining complete process management results.

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What Is Procurement in Freight

The Supply Chain Journal

For management, one of the most critical aspects of shipping and inventory management is the concept of procurement in freight. This essentially is the process of securing adequate capacity space to haul the freight. Freight Full Truckload Supply Chain Uncategorized

Stranger things: Air cargo becomes value play over ocean freight

The Supply Chain Journal

The price for shipping goods by air is nearly double what it was before the COVID pandemic, but ocean freight has become so expensive – and even slower – in recent months that air cargo actually seems like a relative bargain to many companies. Source: IATA).

Cargo 83

Webinar Q&A: Answers to 8 Common Freight Market Questions

CH Robinson Logistics

webinar, we provided an in-depth analysis of current supply and demand trends in the North American freight market. Source: ACT Research April 2021 Freight Forecast report. And when can we anticipate that surge of backordered items to hit the freight market?

Local Sourcing, Global Supply Chain

BluJay Solutions

The recent announcement by Google-owned Motorola Mobility that all new Moto X smartphones sold in the US will be manufactured in Texas, highlights the continued importance of the global supply chain and role of freight forwarders and logistics services providers (LSPs) in successful local sourcing strategies. The post Local Sourcing, Global Supply Chain appeared first on Kewill Corporate.

Regional Carriers Are Great Source for Owner Operator Trucking Jobs

Kane is Able

Some may choose to hunt profitable freight on load boards, while others align with carriers to provide dedicated capacity. In recent months, Kane Freight Lines has had an increasing number of inquiries from drivers seeking owner-operator trucking jobs. Two-way freight would help, but that’s nearly impossible to find in the spot market. Supply Chain Challenges Freight Transportation Truck DriversOwner-operators are freedom-loving entrepreneurs.

Consumers take a breather, freight volumes push higher

The Supply Chain Journal

And, inventories remain depleted across many segments, so the freight industry won’t feel the direct brunt of any shift back to services anytime soon. The index has been at this level since after the winter storms disrupted freight networks across the country. Source: FRED.

Freight Rates News October 2015

Freightos

Since we live and breath freight, we constantly come across information that’s critical for our customers – logistic providers, shippers and carriers. And as freight innovators ourselves, we love seeing more innovation. Freight Rates News that rates for freight and logistics trends – October 2015. Freight index jitters. Seemingly all international freight indices are down. This is good news for international freight forwarders.

Xeneta providing rate transparency in turbulent ocean freight market

The Supply Chain Journal

Xeneta co-founder and CEO Patrik Berglund said providing ocean freight rate transparency is more important now than ever. “In Oslo, Norway-based Xeneta, an ocean freight rate benchmarking and intelligence platform, announced Thursday it has closed its $28.5

Smart Sourcing Bots Are Taking On Air Freight Procurement

Supply Chain Brain

One area that’s especially ripe for transformation is in the sourcing of air-freight shipping, for which demand continues to skyrocket as capacity remains scarce

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. Here are seven strategies to elevate freight management in an organization to build a more competitive supply chain advantage.

LTL Capacity Best Practices in Times of Tight Freight Capacity

GlobalTranz

LTL capacity has routinely been used as a source of added capacity when full truckload becomes unavailable. LTL capacity is quickly becoming harder to find, and full truckload carriers have already started to turn away freight. Meanwhile, LTL carriers struggle to meet on-demand needs, so shippers need to know a few LTL capacity best practices to ensure their freight can be moved on time and without added costs. Capacity Crunch Freight LTL

The Pros and Cons: International and Domestic Sourcing

Unleashed

It’s easy to oversimplify the differences between sourcing for parts locally or internationally. When considering where to purchase from, the prevailing idea seems to be that domestic sourcing allows for better control and shorter lead time, but international sourcing is more cost-effective.

LTL Carrier Profile: UPS Freight

The Logistics of Logistics

LTL Carrier Profile: UPS Freight. UPS Freight is the fourth largest less than truckload (LTL) carrier with approximately $2.4B UPS Freight has 6.9% UPS Freight is based in Richmond, Virginia. UPS Freight is a business segment of United Parcel Service, Inc. Domestic Package, International Package, and Supply Chain and Freight. LTL Carrier Profile: UPS Freight Services. LTL Carrier Profile: UPS Freight History.

Bringing Freight Online with WebCargoNet and Freightos

Freightos

Bringing Freight Online With WebCargoNet And Freightos. But this story is more about a vision for a better future of freight, than just another acquisition. There’s unprecedented volumes of global shipments , growing international trade, more flexible supply chains, and easier sourcing than ever before (Alibaba, anyone?). WebCargoNet’s focus has been more on the carrier-forwarder relationship and has also placed more focus on air freight. Freight Insights News

Five Tips on Sourcing Products From China

EMERGE App

Google a phrase like “sourcing products from China” and you’ll instantly be faced by almost 39 million results! You need to source for products to sell at wholesale prices to your retail customers. And the place to source for most, if not all, of your products is in China. This blog post doesn’t aim to be the ultimate guide to sourcing goods from China. I like to start with a broad-based search at Alibaba and Global Sources. Introduction.

Is Amazon In-Sourcing or Creating a New Service? You Already Know

GlobalTranz

The post Is Amazon In-Sourcing or Creating a New Service? E-Commerce Logistics Freight Logistics amazon in-sourcingAmazon didn’t get to where it is today (hit a market cap of $1 trillion in Sept. 2018) by resting on its laurels. At the time I wrote this, Amazon’s market cap is $777.8 billion. We can all rest assured that Amazon is looking to get back up to $1 trillion and stay there. Amazon.read More.

8 Freight Shipping Trends Shippers Must Know for 2017

GlobalTranz

The freight industry of today is evolving rapidly. It is no longer bound by the traditional constraints of the economy, and Amazon is gearing up to begin expanding to be the best of the global freight shipping providers. As a result, your company needs to think about these freight shipping trends and how you can prepare to respond to them as soon as possible. 8 Freight Shipping Trends Shippers Must Know for 2017. Hours of Service Will Become Core to Freight Operations.

The 7 Freight Audit and Payment Best Practices

Intelligent Audit

One critical but often overlooked component of successful shipping and logistics management remains freight audit and payment processes. Create a Clear Strategy for Freight Audit and Payment. Freight audit and payment protocols can benefit significantly from automation.

Crowdsourced Delivery & Freight Auditing: How Technology Catches Errors & Provides Data

Intelligent Audit

Utilizing crowdsourced delivery and freight auditing within the logistics industry can generate value for those looking to decrease costs. Delivery and freight auditing can help increase the value of crowdsourcing strategies with the right partner.

Q3 2021 Trucking Trends and Freight Market Update

Zipline Logistics

The freight market has been on the receiving end of several systemic shocks that continue to affect industry providers and shippers alike. To get a clearer picture of what is happening in the freight market, let’s look at what’s causing this disequilibrium.