One often overlooked budget item in growing companies is transportation and logistics. As companies focus on growth, the oversight of logistics programs frequently becomes a complimentary duty of employees whose primary focus might be in other company disciplines.
They include: visibility, volatility, velocity, vulnerability, and viability.
If the pandemic has taught us anything it’s this—supply chains are brittle. If raw materials or parts don’t get to where they need to be on time, manufacturing plants grind to a halt, orders are not fulfilled, customers are unhappy, and the bottom line suffers.
A pandemic—and its knock-on effects of shortages—is not something companies can generally plan for. But the fact remains that disruptions can, and will, occur.
One way trade-dependent companies can mitigate the risk of critical shortages and reduce costs is by taking control of inbound logistics. Let’s look at some of the benefits of doing so.
The pandemic made clear the need for equity in access to vaccines. In fact, G7 leaders met earlier this year to discuss just that. According to the World Health Organization (WHO), “leaders recognized that no country can be safe until every country committed to develop and distribute effective tests, treatments, and vaccines around the world.”
Whether on a truck, in a warehouse, or at a port, your shipments are vulnerable to theft. Learn how to reduce that risk and keep your valuable cargo safe.
Each year, about $30 billion worth of cargo is lost, according to the Federal Bureau of Investigation, and incidences of cargo theft reached record highs in 2012.
Carriers and 3PLs reveal road-tested secrets for cutting trucking costs.
While many shippers believe that the best way to save money on transportation is to negotiate lower rates with carriers, trucking companies and third-party logistics (3PL) providers acknowledge there are better and more effective ways to cut trucking expenses, particularly for less-than-truckload (LTL) shipments.
Panama is quickly becoming the business capital of Latin America. The country is an attractive location to the international business community due to the $5.25-billion expansion of the Panama Canal, allowing for increased access to global markets. In addition, the country's economy is surging, and the Panamanian government is attracting foreign direct investment through the development of a new Panama Pacifico Special Economic Area (SEA).
The award ceremony acknowledges the future strategies of logistics and supply chain companies from around the region
Westford University College (WUC) received the ‘Education Provider of the Year in Logistics & Supply Chain Management — 2021’ award at the Logistics & Transport Awards 2021 held last month in Dubai.
Q: How can data solve logistics problems for shippers?
A: The right data can create the intelligence required to know where to begin to solve many common problems. These can include freight costs that are too high, transit times that are too long or not charging enough for freight. Many shippers have good rates, but they aren't using them correctly, which causes a problem of spending too much. Having the right data will show how to change this.
When doing business globally, who pays the freight, you or your vendor? Who assumes the risk if cargo is damaged? Enter Incoterms, a set of international rules that interprets the most commonly used trade terms.
When global companies enter into contracts to buy and sell goods, they are free to negotiate specific terms. These terms include the price, quantity, and characteristics of the goods. Every international contract also contains what is referred to as an Incoterm, or international commercial term. Applying Incoterms to sale and purchase contracts makes global trade easier and helps partners in different countries understand one another.
With capacity tight and trucker employment stretched thin, carriers can be selective about who they work with, so it's important for shippers to have a game plan. Here are practical ways to ensure your freight gets where it needs to go.
In August 2021, Cass Information Systems reported that its July 2021 shipments index was 1.177, or 15.6% higher than July 2020. Typically that type of figure would fall in the normal range for the index, which measures intra-continental freight shipments by rail and less-than-truckload in North America. This year,it represented a five-month low.
A Transportation Management System (TMS) is specialized software for planning, executing and optimizing the shipment of goods. Users perform three main tasks in a TMS: Find and compare the rates (prices) and services of carriers available to ship a customer's order, book the shipment and then track its movement to delivery.
How to keep freight moving when it seems like the whole world is conspiring to slow it down.
Logistics professionals who rarely in the past let the word "expedite" pass their lips now find they're ready to pay more for extra speed. Facing slow procurement pipelines and heavy transportation congestion, companies turn to premium freight services to keep production humming, inventory moving, and store shelves stocked.
Value is not always easy to measure. It's the same when discussing transportation costs. Lowest cost is not always the best, as poor quality can cost you much more. Corporate supply chain managers need to understand which levers to pull so they can get the best value for every transportation dollar spent.
I worked for a 3PL in Holland that distributed surgical products. A Luxembourg hospital contacted us after hours, after realizing they did not have the right-size heart valve for a patient needing immediate surgery. One of our employees delivered the valve there in his car, saving the patient's life.
From access to ports and infrastructure, readily available workers, and proximity to millions of consumers, logistics sites deliver and build on advantages. Here's how organizations support their continued success.
As everyone in the business of manufacturing or distributing products knows, the "perfect" site for logistics purposes—whether manufacturing, warehousing, or distribution facilities—depends on the company asking the question. That said, the logistics landscape in the United States is rich with locations featuring assets that are ideally suited for moving products from Point A to Point Z.
Here's some practical advice for deciding how to ship your load, in normal and new normal times.
High-end circuit boards from Asia, critically needed for production in Michigan? Probably an air cargo shipment. Cardboard boxes from New Hampshire that ship to a factory in Colorado week after week? Domestic intermodal should be fine.
The CEO of a logistics startup took a boat tour of the Port of Long Beach and found a lot of things wrong, including terminals 'simply overflowing with containers'
- As port congestion worsens, local officials and logistics executives are seeking ways to alleviate clogs.
- The City of Long Beach issued a statement on Friday that it will temporarily permit additional container stacking.
- The policy came after a logistics CEO took to Twitter to make suggestions following a three-hour boat tour of the port.
From the embrace of suppliers to end consumers, sustainability is moving from a “nice-to-have” to a core supply-chain expectation.
According to IBM’s Research Insights, 57% of consumers are willing to change their buying habits to help reduce negative environmental impacts.
Clearly, doing nothing is not the answer for third-party logistics providers or our clients.
At the same time, there is no clear roadmap for adapting to this massive market shift. I have seen firsthand how a multitude of customers and tenants have vastly different outlooks when it comes to sustainability: some are gung-ho and others will catch up in due time.
While improved demand accuracy in your supply chain is critical, it is equally important to have supply-side accuracy and timeliness, especially now. The disruption the pandemic caused for global supply chains is getting worse, creating shortages of consumer products and making it more expensive for companies to ship goods where they’re needed.
In a globalized economy where finalized products have components manufactured all over the world, effective management of supply chains is critical. Each party in the supply chain is dependent upon the other parties performing their responsibilities. If one party fails to perform its responsibilities the consequences can cascade both up and down the supply chain, creating legal exposure for other parties. Michael D. Parrish, a partner at Fasken Martineau’s Insurance and Product Liability Practice Group, suggests adopting these habits to reduce and mitigate risks faced by supply chain parties.
Today’s business environment is nothing if not volatile, uncertain, complex, and ambiguous (VUCA). And coupled with the increasingly digitized transportation industry, it’s no surprise that the global transportation management system market is on the rise. Statistically, the TMS market is expected to reach $6.63 billion by 2026. That’s up from $2.45 billion in 2019 at a compound annual growth rate of 13%. What’s more, in 2018, more than 67% of third-party logistics providers and 38% of shippers have invested in a TMS solution.