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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. As a strategic process, transportation procurement may still seem very tedious and challenging.

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Water is as Important to Some Industries as Electricity

Enterra Insights

Transition to adaptive policies that enable NbS across infrastructure engineering, procurement, and construction. Harness the power of technology, including AI and big data, to identify new water growth opportunities. .” Stimulate private investment through blended financial solutions.” Identify locally led innovations.

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2022: A Look in the Rearview Mirror–Part I

American Global Logistics

We had a hangover from the pandemic: Which led to continued inventory shortages, closures of manufacturing plants in China, congested ports, and underemployment. This was evident with the creation of a new report from the New York Federal Reserve. That report is the Global Supply Chain Pressure Index (GSCPI).

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Reports of Easing Global Supply Chain Volatility in July

Supply Chain Matters

The overall takeaway from the July data was that global production momentum had begun to stagnate and in some regions such as the Eurozone, Taiwan, and to some extent , certain manufacturing regions of China, PMI values had reached contraction levels. . Warehousing and Inventory metrics continue to buoy the logistics sector.

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Two Indices of Supply Chain Activity Noting Supply Chain Volatility Trending

Supply Chain Matters

According to the latest Global Supply Chain Pressure Index (GSPI) , compiled and published by the Federal Reserve Bank of New York , overall pressures increased in April. The authors specifically make mention of geopolitics along with the ongoing effects of the pandemic impacting many manufacturing regions in China.

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How To Manage A Lean Supply Chain

ShipBob

To make their supply chains more lean, retailers can explore different supply chain optimization techniques throughout procurement, production, and distribution, or outsource supply chain management to a 3PL. As long as you are tracking the right metrics, data reveals where you can eliminate waste within your supply chain.

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Your Expert Guide to Inventory Audits: Best Practices & Tips 

ShipBob

This helps you understand trends so you can be better informed during inventory procurement and when you’re forecasting demand. Tracking and accounting for changes in the value of inventory over time as it relates to manufacturing and costs of goods sold can drastically impact your accounting records.