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However, one of the most important aspects of supply chain strategies is often overlooked: the reverse supply chain (also referred to as reverse logistics ). A reverse logistics strategy provides a path for removing the existing equipment to make way for the next era of equipment in the case of end of life products or new upgrdes.
What you will learn in this blog: Leveraging Data Analytics For Invaluable Insights Implementing Lean Principles for Waste Reduction Effective Management Of Supply Chain Costs As companies navigate market fluctuations and challenges, effectively managing supply chain expenses becomes pivotal for success.
In an era where resilience and adaptability are key to survival, technology has become the bedrock upon which supply chain professionals build their strategies. LLMs fueling data-driven decision-making LLMs have stormed the tech landscape in recent years, and their applications in supply chain management are nothing short of transformative.
So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. 10 LTL Procurement Cost Cutting Tips. Gather quality shipment data reflecting all LTL movements for the past 12 months. Analyze bids for optimal pricing and service scenarios.
Data for the BlueGrace Logistics Confidence Index is aggregated through a survey of shippers and reflects all freight transportation modes, while correlating growth or shrinkage to the overall industry volume of shipments and the price of products, according to BlueGrace.
A growing trend across all industries has been the application of big data , with the use of algorithms and the hiring of data scientists becoming commonplace. As businesses collect and store an ever increasing amount of data, the algorithms required to make sense of this data will become even more valuable.
By working closely with suppliers, organizations can improve the quality and reliability of their in-bound supply chains, reduce costs, and increase their overall efficiency. The common goal for all categories of product is that they must be available at the right time, right quantity and right prices.
While best practice dictates shippers should obtain new pricing quotes every time they use carriers to transport their freight, we’ve highlighted a few scenarios in which using historical truck carrier rates is ok. You Have A Good Amount Of Historical Data. You Don’t Have To Worry About Seasonality.
When you work in a position related to supply-chain management, you have lot of practice in having to constantly watch over every step of the process in an attempt to cut down the time, energy or costs that it takes to make, ship and sell your product. Assembly Analysis. The Formula. Reshoring Spurred By Better DFMA.
Cassidy | JOC.com September 25, 2023 US shippers uncertain about sales and order volumes this holiday season are likely to increase less-than-truckload (LTL) shipments despite lower truckload rates, data from an industry survey suggests. Seasonally adjusted data for merchant wholesalers showed a 1.39 31 earnings call. a year ago.
Big data utilization is the wave of the future for all aspects of business including supply chain management. The problem is that not every company has the resources to begin the process of big data management and have yet to see the extent of benefits it can provide to analyze and use such data management. Pricing Management.
Webinars Show Submenu Resources The Logistics Blog® Newsroom Whitepaper Case Study Webinars Indexes Search Search Adam White - February 29, 2024 LinkedIn Live Webinar On-Demand: Transportation Cost: The impacts & how to gain visibility to the right data What’s the Topic? We can help.
6 Benefits of Applying Useable Data in Logistics For Continuous Improvement. In this post we will talk about how you can improve your transportation management program by focusing on using data, extracted from the use of technology, such as a transportation management system, that then people can use to continuously improve.
A strategy that encompasses all allows decision-makers the visibility to see concerns early on and respond promptly. An end to end supply chain strategy allows companies to see and tailor their mechanisms within the supply chain. Reduce freight and transport time with proactive management. 5 Areas for Reorganization.
Traditional fixed-price contracts, once the bedrock of stability, are yielding to the pressures of market dynamism, unable to keep up with the factors impacting the markets. The integration of real-time data and analytics into contract structures is not just innovative—it’s becoming essential. Get Your Custom Report Now!
10 Tips to Remain Competitive and Have an Effective Transportation Management Strategy. This is especially relevant for third-party logistics and transportation management service providers, whose service fee is based on reducing cost and streamlining the shipper’s supply chain. Gaining "Shipper of Choice" Status.
a How to Navigate Your Supply Chain During Market Swings Show Submenu Resources The Logistics Blog® Newsroom Whitepaper Case Study Webinars Indexes Search Search BlueGrace Logistics - November 21, 2023 In the realm of ever-fluctuating food prices, a pragmatic revolution is quietly taking place in the shopping carts of budget-conscious consumers.
Here’s why technology should be part of your overall strategy. Brokerages across the globe have turned to technology for a competitive advantage, helping them increase sales, get loads covered, improve customer experience, and cut out the busy work that slows them down. They could be missing out in consequence.
Here’s why technology should be part of your overall strategy. Brokerages across the globe have turned to technology for a competitive advantage, helping them increase sales, get loads covered, improve customer experience, and cut out the busy work that slows them down. They could be missing out in consequence.
What’s key to making this work: big data visibility, flexible processes, and an agile ecosystem that can move swiftly to serve an increasingly fragmenting, but exceptionally demanding consumer base. Traditional segmentation strategies no longer work in a world characterized by complexity and constant change. Embrace Digital Disruption.
Air cargo for example, though continuing to make digital strides, is still behind – and is often compared to – passenger travel where digitized capacity, pricing and online bookings have been around for decades and is in some ways the digitalization template air cargo is referencing.
However, with reduced life cycles, customer-driven innovative products and services have forced supply chains to be flexible and adaptable. At the same time, this data may indicate possible issues in the procurement process, regarding product quality and delivery. Differentiated customer experiences define the current supply chains.
One that is integrated with TMS offers more value for customers and better leverage when negotiating contracts with additional features providing the latest data. The fundamentals of a Freight Rating System match a user’s shipping and freight characteristics and a carrier’s service and price options. Determine the software’s objective.
Mostly, this goes back to finding the best product possible at the lowest possible price. . Unfortunately, meeting this ever-changing demand means companies must have a way of generating and analyzing real-time data reflecting what customers want now. Pricing Models Are Subject to the “Amazon Standard.”.
Q1 optimism seen in BlueGrace Confidence Index Show Submenu Resources The Logistics Blog® Newsroom Whitepaper Case Study Webinars Indexes Search Search BlueGrace Logistics - December 11, 2023 The recently-released edition of the BlueGrace Logistics Confidence Index issued by Tampa, Fla.-based
For those of you who still track labour data – think employees starting and stopping their shifts, and activity on machines – on timecards and spreadsheets, you know all too well the kinds of frustration manual processes can cause: Errors that creep in from manually transferring data into your ERP system.
Growth drivers in domestic manufacturing include a sharp fall in the price of crude oil and natural gas, rising costs of labor in China and other host countries, and favorable conditions for manufacturing back home. Drop in the price of crude oil. Fall in the price of natural gas. Rising costs of labor in China and other places.
It helps to coordinate all of the available data points in a transport network, including rates, route options, warehouse supply, and distribution. That is allowing smaller shippers to take advantage of the great benefits that these systems can provide, in cost, data acquisition, efficiency, and communication flow.
As of 2019, the average sales price per square foot for Canadian industrial properties was $154 , and it has continued to rise since, according to the Globe and Mail. Reduced efficiency. Cut down on costs. Automating invoicing eliminates mistakes that could delay payment. , paper, shredders, folders, and cabinets.
Four main trends concern us here: Connected supply chains provide additional opportunity link supply chains and receive more data. Data can indicate issues with procurement , product quality, and delivery. Buyers are moving away from selection based solely on purchase price and quality discount.
Furthermore, innovation has replaced previous expectations and practices of reducingprices and focusing on reducing the consumers’ costs. Furthermore, the number of consumers who want to ensure their data is safe has grown exponentially in recent years, especially considering the massive data breaches at Target and Home Depot.
Digital technologies, such as big data, business analytics, augmented reality and 3-D printing, are converging to transform the way manufacturing is done. The 52 percent who aren't ready will soon be playing catch-up to companies on the cutting edge of these trends. Responsive Technology #2: Big Data and Predictive Analytics.
Organizations must take the following steps to bring departments together to create truly resilient and sustainable supply chains: Leverage external data to sense market shifts Look to external causal factors and forecasting models to identify market shifts. <br>- Use external data for forward-looking decisions.
It is insufficient to approach freight costs management by simply reducing departmental budgets without rationales that are based on actuals along with calculations of myriad logistical factors included in freight costs. Job Territories.
Don’t expect to plan for every disruption; instead, develop a strategy to overcome supply chain disruption, regardless of the source. Preparing your supply chain for resiliency begins with risk management and a proactive strategy. The average cost of a data breach reached $3.86 Price fluctuations and sourcing issues.
How to Navigate Your Supply Chain During Market Swings Show Submenu Resources The Logistics Blog® Newsroom Whitepaper Case Study Webinars Indexes Search Search BlueGrace Logistics - November 21, 2023 Market conditions play a crucial role in shaping challenges professionals face when managing their organization’s supply chains.
event of 2022, my colleagues, Christina Carroll, vice president of LTL, Alan Rowlett, director of global operations and strategy, and I set out to offer exactly that. The first is pricing, especially the record rates within the international supply chain. Watch the video to learn more: Plan to attend our next webinar.
Many manufacturers & retailers have found that they can use state of the art supply chain management to reduce inventory & warehousing costs while speeding up delivery to the end customer. Managers should ensure that a firm’s transportation strategy supports its competitive strategy. Living things are always changing.
Automate Inventory Control to Reduce Errors. Automating inventory control processes is the simplest way to control inventory and reduce lost warehouse inventory. Systems do not respond well to poor data, and postponing the booking of variances is like intentionally feeding your WMS bad data.
Price points for hardware and communications have fallen, and the reliability and capabilities of mobile technologies for transportation have vastly improved. In a few years, competitors will need to collaborate with each other in terms of logistics and warehousing in order to reduce costs even further. Dynamic Content.
Believe it or not, even in the midst of a Manufacturing “revival” with a focus on total cost reduction, most companies miss the boat completely on logistics efficiency, a critical area for improving corporate profitability. Below you can download the LTL Freight Management presentation with notes and also view the webinar in its entirety.
This is where being able to monitor tender data at the market level can become your secret superpower. Tender data uniquely uncovers greater visibility into volumes and supply/demand metrics where seasonal impacts will make an impact. Companies have leaned on historical data and load board rates for years to manage produce seasons.
As a 3PL who offers a transportation management system we’ve integrated to many ERP software, we view the use of technology as an enablement tool for shippers to cut out unneeded waste and thus add more to the bottom line by saving money from such efficiency. Increased bid competitiveness through pricing accuracy.
Although supply chains are starting to normalize and rebound, COVID-19 exposed a lot of weaknesses and led shippers to gain a better understanding of the importance of data portfolios, which is the primary purpose of outsourced logistics solutions. Visibility and data remain top-value propositions that outsourced logistics entities solve for.
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