This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Global Trade Compliance Is Not Showing Signs of Slowing Down Any Time Soon The Global Trade Compliance market is experiencing steady growth and is expected to continue this trend over the next five years. I have recently completed the latest ARC Advisory Market Analysis on Global Trade Compliance, available here.
For stakeholders navigating this environment, understanding key industry drivers, challenges, and future trends is critical for crafting effective strategies. ITR Economics analysis shows rising and unmet demand for electric power from sustainability initiatives, coupled with the proliferation of data center construction ($27.3
Limitations of Traditional Supply Chain Planning Traditional supply chain planning relies on retrospective analysis. Organizations examine past sales trends, apply seasonal adjustments, and make forecasts based on historical models. Automated warehouse operations streamline order fulfillment, reducing dependency on manual labor.
DPPs provide a streamlined, digital way to document a product’s lifecycle, making it easier to ensure compliance and improve transparency. Let’s explore how DPPs are impacting regulatory compliance, preparing for future rules, and encouraging industry collaboration.
I’m kicking off some research and writing on global trade compliance. Mr. Wood believes there is a significant trend that is occurring with respect to the trade compliance department in companies. Five years ago, or so, trade compliance would often report up to the chief legal officer.
And as reported by Supply Chain 24/7 , “Leveraging technology, shippers are able to see regional trends and specific lane cost information, as well as driver preferences, while carriers have access to details like loading/unloading times and lane history data.” Fill out the Form Below to Access a COPY of the White Paper. Request a SONAR Demo.
The global trade compliance market is one crazy market. The market grew by double digits year over year, yet there is no standard user and consequently there is no common understanding of what the end-to-end global trade compliance process should be. At SAP their solution is developed by their governance risk and compliance team.
This is nearly double the amount from a decade ago and it seems to be in line with the trend of Halloween gaining popularity in the last few years with the help of social media. According to the S&P Global Market Intelligence Americans are spending upwards of 4.1 billion dollars on Halloween candy this year.
Real-time data processing and analysis are crucial for identifying and resolving supply chain disruptions. Here are some specific use cases: Demand Forecasting AI Agents can analyze historical sales data, market trends, and real-time demand signals to predict future demand accurately.
Manufacturers must ensure adherence to regulatory compliance, strike a balance between efficiency and profitability, maintain unblemished food safety records, and guarantee customer satisfaction. Their valuable data is often locked away in separate, siloed, and outdated systems and formats, making data access and analysis an uphill task.
The cost of poor quality is so closely related to supplier quality and compliance that manufacturers must give the proper attention and resources to the optimization of their upstream partnerships. Traceability & Trade Compliance. The only way to take control of your future is to double down on quality.
While much of this chain will focus on key ways manufacturers can make more products, it will also have a profound impact on how manufacturers use information and interact with consumers through these additional top manufacturing technology trends. How will These Top Manufacturing Technology Trends Increase Customer Experience?
If you are a finance professional in a manufacturing business, your main goals are to reduce risk, improve profitability, and maintain high levels of compliance. Pulling data takes time and then you must format it for analysis and check for errors. Analysis is limited. Easily produce period-on-period analysis reports (e.g.,
Some of these transportation management trends reflect real worries for the logistics industry. Take a look at six of the trends to watch for in transportation management this year. Software-as-a-service (SaaS) systems help shippers meet the same criteria in terms of the data analysis, analytics, and payment management.
FreightWaves SONAR is releasing new indices – Capacity Trend Market Scores and Capacity Trend Market Direction – to help shippers, carriers and brokers prioritize specific routes daily. Capacity Trend Market Scores Capacity Trend Market Scores are divided into two perspectives – shipper/broker and carrier.
For instance, using the trends and seasonality within the Outbound Tender Rejection Index, shown above , logistics coordinators can create responses to RFPs based on like a higher all-in rate. It is nearly impossible to manage SLAs and routing guide compliance practically and successfully without access to sound data.
In some logistics application areas, like global trade compliance , they are a market leader. Mr. Ryan’s statements are based on a sound quantitative analysis of what is occurring. Descartes has a global trade intelligence solution that allows them to quantify import and export shifts, transportation flows, and trade trends.
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. As omnichannel shopping becomes the standard for consumers, the use of freight data will excel.
ARC Advisory Group, where I work, publishes an analysis of the 25 manufacturers with the most mature digital transformations. This report provides a cross-industry perspective on digital transformation in logistics including digital maturity in inventory management, transportation, fleet maintenance, safety and compliance, and more.
The FMCSA provided and update on a variety of its trucking regulation initiatives at last week’s Analysis, Research, and Technology Forum. False log violations have trended up steadily since hard enforcement began in 2018, but are only 1.3% of investigations. Get the latest on FMCSA regulation updates here. of investigations.
This is a trend that I see time and again across manufacturing businesses of all sizes and across industries. With built-in compliance features, such as standardized accounting practices and automated reconciliation, you can improve financial accuracy, facilitate auditing processes, and ensure compliance with accounting standards.
Jeff Erwin, VP of manufacturing at G&J Pepsi-Cola Bottlers , has been helping to accelerate the digital transformation while aligning with the company’s goals and mission to improve its operational efficiency and meet customer requirements and regulatory compliance challenges by tracking and measuring performance.
Image source: Rawpixel | The Future of Supply Chain: Top 5 Supply Chain Trends in 2024 Managing the market’s intricacies will call for a proactive approach that goes beyond simply responding to demands as the halfway point of 2024 draws near. Top 5 Supply Chain Trends in 2024 1. Make sure you distribute to your network.
Predictive Analytics and Demand Forecasting – Modern supply chain systems analyse historical data, market trends and even weather patterns to predict future demand. Automation can help you stay on top of regulatory requirements – they’re like having a compliance expert working round the clock.
The answer is not simple and involves research and analysis across a number of factors. Robinson’s own technology and data from the largest network in the freight industry, help our customers stay on top of the trends that influence their supply chains. Analysis of employment data. for Q2 2021, relative to Q2 2018.
Integrating external factors like consumer price indexes, GDP trends, climate change, and others into the forecast can improve signaling for supply chain design. For example, start at the sourcing process to find, all else being equal, more sustainable suppliers, women-owned, or have characteristics that support compliance.
Without quality data to review, analyze and apply, the network will struggle to keep up with important trends within the global market. According to Supply Chain Digital , “A company that utilizes a global trade management system can expect to cut costs, risks and delays associated with manual compliance and tracking efforts.”
As we step into the unknown of 2023, here are some key trends and issues affecting supply chain management to help you prepare your strategies. ABC/XYZ analysis can help identify the most valuable items to your business. Machine learning analyses trends, recognizes anomalies and offers insights.
As we step into the unknown of 2023, here are some key trends and issues affecting supply chain management to help you prepare your strategies. ABC/XYZ analysis can help identify the most valuable items to your business. Machine learning analyses trends, recognizes anomalies and offers insights. Supply chain issues.
Bridget McCrea, writing in “Logistics Management,” identifies 8 trends that are currently impacting the industry: Wireless now accommodates a sharper focus on efficiency and transparency. For the details on each of these trends, please read Bridget McCrea’s full article. Manage regulatory compliance. shared logistics networks.
Although we are unable to accurately predict the future, we are able to pinpoint some potential problems that the shipping industry may experience in the coming years based on current trends and difficulties. These are speculative and subject to change depending on a number of factors.
We will discuss case studies, future trends, and guidelines for businesses considering whether to invest in this cutting-edge technology. Examination of Reflectance Spectra The analysis of reflectance spectra is at the forefront of modern pest control methodologies, particularly when integrated with drone technology.
Since the beginning of 2021, maritime shipping lines will need to refocus on safety compliance. The solution: Recognizing market trends as they occur in real-time is easier with access to actionable, insightful data. Unfortunately, ocean shipments data is rarely easily accessible or available for analysis by enterprise shippers.
In essence, the influence of cultural differences on transportation encompasses communication and language differences, cultural protocols and business habits, customs and export procedures, the dynamic political and legal environment, logistics infrastructure and transportation networks, as well as cultural needs and consumer behavior trends.
Analysts can also more easily spot market trends to increase sales or revenue. Used effectively, the right data can help with anything from compliance to hiring efforts. . (BI) Analysts can leverage BI to provide performance and competitor benchmarks to make the organization run smoother and more efficiently.
Globalization, nearshoring and friendshoring trends are amplifying the supply chain risks. Supply chain professionals have been at the forefront of adopting advanced technologies associated with Operations Research, machine learning and statistical analysis. Nari Viswanathan is currently Sr.
Within the chemical industry, challenges such as regulatory compliance, market volatility, and stringent safety measures require innovative solutions. Managing the supply chain in this industry involves unique challenges and considerations due to the nature of chemical products, regulatory compliance, and safety requirements.
Salus Technical : Provides software solutions that combine AI with engineering expertise to improve process safety and risk management in industrial operations, aiming to prevent accidents and ensure compliance. This growth underscores the dynamism and competitiveness of the AI market.
Fleet management includes maintenance, acquiring vehicles, managing drivers, tracking vehicle movements, and ensuring compliance with regulations. Mobility-as-a-Service (MaaS) : Mobility-as-a-service is enabled by various major trends such as the rise of subscription services and the sharing economy. Let’s dive in!
Read also: Revolutionizing the Industry: Discover the Top 3 Logistics Trends for 2023! After all, having access to a mountain of data is useless if the data analysis does not accurately detail the flows throughout the supply chain. Why not employ technology for supply chain management if a data strategy can enhance sales?
The underlying logistics regulations, political stability and compliance are biggest challenges. Coordinating operations, ensuring quality control, and monitoring compliance across multiple regions can be challenging and may require a significant allocation of resources. Each country’s regulations are different. A shift is obvious.
John Moore, Technical Director for FSS based out of Westfield, IN states, “The problem is our traditional pest service in these food facilities is based on a compliance need and not integrated pest management (IPM), as well as identifying the overall risk associated within the account.”
From streamlining sourcing and supplier management to optimizing contract negotiations and spend analysis, AI and ML offer various capabilities that can revolutionize procurement management operations and drive sustainable value creation.
Historically, drawback relied on subjective analysis of “commercial interchangeability” making it difficult for many companies to take advantage of substituted merchandise. Companies must prove that imported goods were exported or destroyed, and maintain supporting records to prove eligibility and compliance. policymakers and Customs.
We organize all of the trending information in your field so you don't have to. Join 84,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content