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A plan is necessary, possibly based on one of the following strategies. Hidden Opportunities for Supply Chain Cost Reductions Of course hidden costs, if you can find them, mean hidden opportunities. Much depends upon the nature of your supply chain operation of course. Reverse Logistics Strategy 1: Don’t do it!
Insights from Gartner’s Hype Cycle for Supply Chain Strategy, 2020. Our recent survey showed that only 17% of organizations make it a priority to invest in innovation. Gartner’s Hype Cycle for Supply Chain Strategy, 2020 offers some guidance. AIMMS in Gartner’s Hype Cycle for Supply Chain Strategy, 2020.
If you were to tell me that your company had never looked at its supply chain costs and sought to deliver reductions, I would be mightily surprised. On the other hand, if you told me your company hasn’t been able to sustain any progress in supply chain cost reduction, I wouldn’t be surprised at all.
Most notable is the extreme volatility in volumes, prices, and disruptions that have occurred. However, GEP And S&P Global publish the GEP Global Supply Chain Volatility Index based on data derived from S&P Global’s PMI surveys. Of course, prices tend to jump from supply and demand pressures.
Of course, it is helpful to have some statistics on hand to validate the statement above. According to a survey by Deloitte from 2014, 79 % of companies with high-performing supply chains achieve revenue growth superior to the average within their industries. Supply Chain Strategy. Now for those statistics I mentioned.
“Results from the 2017 study show that roughly 75% of respondents are using the mix strategy (be all things to all people) as the predominant approach for their companies compared to the 51% who we reported utilizing a mix strategy in our 2016 results. Cost is, of course, another important aspect of running a successful business.
Suspicion that digitization will eliminate jobs is not without cause—there is no doubt that certain roles are changing or being eliminated by automation. Success here can drive significant revenue opportunity and reduce costs, ultimately greatly increasing the stature of procurement in an organization. How do you do that?
WorkWave is at the forefront of developing Analytics & AI tools to help our customers streamline operations, reduce their spend and overcome common yet difficult hurdles in their businesses. By identifying this issue early, the company can replace underperforming equipment, improve job efficiency, and reduce maintenance costs.
The American and Canadian militaries believe that the balloon was for surveillance, while the Chinese government said it was a civilian meteorological research airship that had blown off course. Expanding the smart package initiative will help UPS strengthen its network efficiency as it seeks to reduce costs in a cooling demand environment.
A Freightos survey of 300+ companies sheds light on how importers have been navigating supply chain disruptions. When ocean container rates spike, so do the prices we pay. Starting in July 2020, the impact of this trend became obvious when ocean freight prices shot up, and have continued rising. What’s changed in a year?
In addition to satisfying conscientious consumer demand, eco-friendly efforts can benefit your ecommerce business by reducing waste within your company and improving operational efficiencies. Translation: these ecommerce businesses have operating standards that minimize or reduce negative impact on the planet.
Moving past waste, water, and C02 reduction, they have begun searching for renewable energy sources, different forms of packaging, and increased efficiency overall. Pepsi announced that they are aiming to cut 20% of their emissions by 2030 and their U.S. Here are three trends to consider. . Sustainability on the agenda.
Additionally, some owners believe that up-charging customers and inflating prices is an effective strategy because it gives the appearance of legitimacy and quality. If you price your services too high, you can end up driving customers away. Remember that when setting your price, customers are looking for value.
Of course, phones shifted from being cutting edge, as did Dial-a-Truck, which became the trucking technology powerhouse known as DAT. billion – a price far above the vast majority of startup exits. In a newly-published survey, nearly seventy freight forwarding managers gave us their thoughts on that. Take trucking.
Furthermore, the OECD Economic Surveys – Germany (April 2018) state that strong domestic demands and especially exports are “driving economic growth”. Outsourcing production to countries with lower wage levels has also enabled companies to reduce costs. Eight simple steps so that you too can profit from export success: 1.
Listen to the full podcast interview here ) Source: Fort Of course, this stark reality was faced by many small and medium-sized businesses (SMBs) during the peak of the pandemic. Looking ahead, only about half of the SMBs surveyed anticipate an increase in their importing activity during this year’s peak season (July – October).
This week the Journal of Commerce invited me to advocate for transparency at TPM in a debate where the other side was argued that freight prices will remain private. Other companies, like Uber, Amazon and, of course, Alibaba, are increasing their B2B foothold. So yes, transparency is completely compatible with tiered pricing.
Insights from Gartner’s Hype Cycle for Supply Chain Strategy, 2020. Our recent survey showed that only 17% of organizations make it a priority to invest in innovation. Gartner’s Hype Cycle for Supply Chain Strategy, 2020 offers some guidance. AIMMS in Gartner’s Hype Cycle for Supply Chain Strategy, 2020.
Established companies will have years and years of quantitative data to work with, enabling them to identify trends and better understand the effects that marketing campaigns, pricing, seasonality, and other factors have on their merchandise. Qualitative data is more subjective.
Forwarders Are Cutting Cost Of Sale. Researchers, like Drewry, see freight digitalization hitting the sales process first , reducing the cost of sale. Pioneers may lack coverage (for now), according to a Transport Intelligence mystery shopping survey, but this will soon change. Stock Photo from prior event via Alibaba ).
While up to 75 percent of shippers have seen overall logistics cost reductions through such partnerships, more or looking for better ways to take advantage of the partnership. Of course, there are still hold-outs that foresee possible problems with these relationships. 3PLs are changing globally. The IT Gap Has Reached a Record-Low.
We explore how predictive analytics and big data with human sentiments can add value and amplify their supply chain strategies. 51% of the respondents in a global Reuters survey felt that the most perplexing challenge is the unpredictable nature of consumer demand. Demand forecasting is hard. Concept of Predictive Analytics.
Packages are getting delayed, shipping carriers have raised prices, and businesses – whether suppliers, wholesalers, or retailers – all feel the burden on their end of the supply chain process. To meet the new demand, companies will have to adjust their operations for greater efficiency, flexibility, and cost reduction.
Moving past waste, water, and C02 reduction, they have begun searching for renewable energy sources, different forms of packaging, and increased efficiency overall. Pepsi announced that they are aiming to cut 20% of their emissions by 2030 and their U.S. Here are three supply chain trends to consider. .
And generally they are really expensive missed opportunities—expensive in financial terms, as well as in poor customer service and reduced sales! Cost Reduction. All organisations struggle to reduce costs. So now think about how you can reduce the amount of touches. So we need to get a bit smarter. Think about it now.
And keeping up with the parcel shipping of these customers does not come without a price. Among the moves to reduced costs, Amazon is building 140 fulfillment centers to get closer to its customers to reduce shipping costs , achieve even faster delivery. The State of Retailing Online (SORO) survey of U.S.
Recent developments in freight digitization are simplifying the shipping process and giving visibility to freight pricing enabling small players to handle the logistics side of their business more easily, transparently and efficiently. FBX data shows prices for containerized freight spiked ahead of January 2019 tariffs. .
There are, of course, some other important differences between the two types of providers: 4PL is, in general, better suited for medium-to-large businesses , while 3PL is more suited to small-to-medium businesses. Working with suppliers to plan smarter supply chain and reduce costs. Distribution to Woolworths supermarkets and beyond.
In the supply chain articles category it is clear the top ten are all about trends, facts, technology, and of course optimization. Walmart would not have the ability to provide such low prices and have consistent inventory in the over 5,000 stores in the United States and over 1.3 Read the full article here. .
Few areas of the supply chain are more susceptible than sourcing strategies. In turn, the prices of such items increase across the country and possibly the globe. Of course, a more diverse supply chain contains this protective effect—enabling multi-sourcing capabilities for all needed resources from cargo space to drivers and beyond.
They could of course do both – cutting back on eating out, for example, reducing hospitality trade demand, but investing more in entertaining at home and thus buying more groceries. Creating a flexible space strategy for a potentially difficult Autumn peak season is a great way to mitigate risk.
What is worse, according to a survey conducted by Daniel Webb revealed that we were throwing about 8 million tons of plastic away this year, which is much more than the last year. Notpla is hoping its seaweed-based alternative to plastic casing can help reduce plastic waste. How green are you? It is everywhere in our daily life.
Source: Council of Supply Chain Management Professionals 2017 Survey. Of course the same is true in many professions, but is particularly so in the arena of supply chain and logistics. “60% of young supply chain professionals surveyed described their work as exciting, and 56% said their work is fascinating.
We’re talking, of course, about demand forecasting, or the process of predicting customer demand for a product or service. Keep reading to learn what demand forecasting is, why you need it, and how to implement it into your eCommerce strategy! Luckily, this is one problem that doesn’t require divination to solve.
John had his work cut out for himself as he had to suddenly handle greater complexity while maintaining the same standards. And that if they were not happy with their services or prices, they could always jump ship to another. All of these can help in identifying performance gaps or with course correction if needed.
The article presents findings from a survey conducted across over 200 global supply chain professionals to highlight how the pandemic has increased the need for freight market intelligence and how it continues to be relevant even as supply chain issues resolve. This was, of course, an extremely popular use case for market data.
Of course, what you say is just as important as how you say it. If you’re making a big ask, such as wanting me to fill out a survey or refer my friends, then I’d like to hear from your founder, not some AI bot. Also, to reduce unsubscribes, consider offering your customers a choice in the type and frequency of the emails they receive.
While Freightos’ annual mystery shopping survey shows that most top forwarders still take days to respond to quote requests, the second half of 2017 saw a surge in forwarders moving online, with DHL Global Forwarding (air only) and Agility amongst them. These startup digital forwarders still have significant hurdles ahead.
Google 'percent of B2B purchases that start with a search' and you'll see many studies showing that the number is somewhere around 66% to 93%, and many of these surveys are a year or two old. Sit down with your customer facing people like service folks, marketing team members, and of course, salespeople. new rules or regulations.
Understanding what kinds of goals and performance should be measured starts with understanding the value the company offers its customers, and the business strategy it uses to make sure customers keep buying from the company. Purchase Price Variance (PPV) is an example. The simplest approach to transport costs would be to reduce them.
Therefore, some companies offer drastically low shipping rates, and products are competitively priced. Of course, there are other factors affecting the American push towards reshoring and nearshoring. Overseas supply chains reduce U.S. However, the American attitude towards the value of a product is changing.
While Freightos’ annual mystery shopping survey shows that most top forwarders still take days to respond to quote requests, the second half of 2017 saw a surge in forwarders moving online, with DHL Global Forwarding (air only) and Agility amongst them. These startup digital forwarders still have significant hurdles ahead.
Of course, logistics is far from immune. If middlemen compete on either service or price, and digitalization standardizes service levels – then commoditization could have companies shedding staff just to stay competitive. One reason forwarders are confident would be that their customers are increasingly valuing service over price.
truck drivers still use paper logs to track hours of service, despite the federal mandate, says a new survey with 2,400 respondents from software-as-a-service (SaaS) company Teletrac Navman that provides GPS fleet tracking. . Even still, one-third of U.S. But contrary to popular belief, fines are regularly being issued to carriers.
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