Competition is one of the constants in business, something that can spur you on and make you better or something that can bring you down..
Every industry has competition in varying degrees.. Some companies look at their competition and say “Yeah ok, whatever” (think Google/Facebook).. Some companies look at their competition and say “Oh crap, that’s close” – like a lot of companies in the shipping and freight industry..
While competition comes in various forms, there are several cases where you may really struggle to find a way to stand out from your competition..
Let me explain further with some examples relatable to the shipping and freight industry..
Logistics companies can deploy the best technology and still fail if their personnel lack training and experience. Anyone whose been around the industry a while remembers Deutsche Post-DHL’s €345 million New Forwarding Environment (NFE) IT program disaster. And while DPDHL seems to have pulled through, mistakes like that can sink smaller firms. On the other hand, we’re well into an era where it’s impossible not to adapt and adopt new technology, which makes expert advice all the more important.
Will blockchain revolutionize the shipping and logistics industry, allowing it to move past inefficient legacy technologies by handing companies the keys to high-tech solutions, at an affordable cost? That’s ShipChain CEO John Monarch’s vision, and over the past year, his company’s platform has emerged as one of the foremost contenders in this burgeoning market.
In any industry, there are Leaders and Visionaries who innovate, design, create and shape it, benefiting everyone in the chain.. The Maritime, Shipping, Freight, Logistics and Supply Chain industries are no exception..
Through a series of articles, Shipping and Freight Resource would like to pay tribute to Leaders and Visionaries who shaped the modern day shipping industry..
In this article we offer tribute to one of the leaders and visionaries who shaped the shipping industry – Jacques R. Saadé – Founder Chairman of CMA CGM Group, who passed away in Marseilles on the 24th of June 2018..
New technology has opened users up to cybercrime, thanks to security loopholes, lack of training, or sometimes both. We chatted with PhishTrain Co-Founder Jake Sylvestre about how managers should think about security, and what steps they can take to protect their clients, their reputations, and ultimately, their bottom line.
We are getting close to full visibility and accountability in the shipping and freight business, thanks to blockchain.
Here’s how. Blockchain-based solutions align accountability with responsibility and create a neutral layer that incentivizes greater sharing of data.
We talked with OriginTrail CEO Tomaž Levak about how that works. “By performing consensus checks in each step of the supply chain we are effectively creating a single version of truth and supply chains with integrity,” Tomaž explained.
“Such end-to-end visibility can, in turn, be used to overcome not only data fragmentation but can support various other use cases.”
Recent news reports of 83 containers falling off a ship off the coast of Australia in heavy seas seems to have triggered a question in the minds of some people Is the ship register or ship registry liable for containers falling off a ship..??
When reading the news articles about this incident, I noticed something very interesting in the way in which the general public and the shipping fraternity identify a ship, its markings and the areas of concern.. 🙂
Profitability in sea freight shipment is not a myth or a unicorn.. It is very possible.. Read how..
It is not a secret that ocean transportation and logistics is currently confronting immense change in terms of new technology, new markets, rising customer expectations, and new business models..
There have been a few articles on this blog about these advances like Blockchain based Bill of Lading, and other technologies that are shaking up the freight industry .. There are many ways the industry could develop to meet existing and new challenges, some of which are evolutionary and others are more revolutionary..
While cargo transportation is generally a complex business, in some cases it could be straightforward as well depending on how you manage it.. It is also a fact that in this high paced business environment it is not easy to follow every market trend and find answers on how to tackle the prevailing challenges easily..
Each customer and each shipment has its own issues, peculiarities, problems and characteristics.. But the main question that several shippers and services providers ask is “How to ensure profitability in sea freight shipment”..
More often than not, exporters, importers, carriers and logistics service providers experience loss due to poor planning, decision making and implementation..
A lot of people get into the industry sometimes without knowing even the basics relating to the business, the specifics relating to the business, the requirements and some of the vital information that can make or break the business.. I have even written a Beginner’s Guide to Importing for those who wanted to get into the importing business but didn’t know how..
Here are 11 steps you can follow to ensure profitability in sea freight shipment..