Benchmarking – is a business tool used by companies to evaluate and compare the current position and standing of the company against similar companies and organisations in the same business space in the market..
The point of benchmarking is to identify opportunities for improvement of your products and services by comparing your company’s performance, processes, costs against a bigger and better market competitor..
This could mean tweaking your company’s products/services to match the competitor’s offering in the market or by improving your scope of services..
Freight benchmarking is a benchmarking tool in the shipping and freight industry used by various role players in the industry such as BCOs, freight forwarders and shipping lines..
The world of shipping and freight is getting bigger and bigger but thanks to all the technological advances and digitalisation it is also bring all players in the industry closer than ever before..
However, meeting people face to face, sharing issues of mutual interest and benefit and thrashing out common problems and finding solutions has a special flavour and charm to it.. Not to mention the experience you gain out of meeting experienced people..
Intermodal Europe 2019 to be held between the 5th and 7th of November at Hamburg Messe promises to bring out the best in terms of its offering to the industry..
Some of the interesting topics presented include………………………….
Supply chain visibility remains a hot-button topic for supply chain executives. When executed correctly, it can open the door to new efficiencies, contributes to higher profitability, and reduces risk.
Meanwhile, the premature launch of systems and processes can dramatically add to costs. As Halloween approaches, poor implementation of visibility-gaining systems will reveal a monster.
This monster cannot die; it’s not susceptible to daylight or even the most intense of prayers. Instead, the supply chain visibility monster looks to show exactly every facet of an operation, including those you wish stayed hidden.
A supply chain is defined as an end to end process involving a network of people, resources, activities, organizations, technology, information, etc. that provides a path to the movement and, the flow of goods and services from the supplier to the end-customer.
Now, this doesn’t sound troublesome when it’s carried out at a smaller level. But imagine, what it would be like for the companies and organizations having a business that is spread across multiple countries.
But blockchains can help in improving Supply Chain Management and here’s how..
Can you think of the most important aspect of your e-commerce store that you’re in complete control over?
Well, some would say all of it but that’s not the case for lots of e-commerce business owners. Some business owners only focus on the financials of their business while they hire others to focus on other aspect.
If you are a successful e-commerce business owner, you’re eventually going to need to hire out because there’s no way for you to do it all.
Take a look at 4 of the shipping strategies that will help your businesses obtain more customers and help you manage your shipping processes better.
An efficient supply chain is known to provide a great competitive advantage over competition and make the process of supply chain seamless..
But to improve the efficiency of supply chain management and create effectiveness, companies need to create and improve predictability, optimize the supply chain costs, reduce or minimize working capital, do due diligence and risk analysis and have a proper handle on the data..
A resourceful and successful supply chain helps the business to achieve quicker delivery time, shorter processing time, better inventory management, all of which leads to better revenues..
Here are 5 tips to improve supply chain efficiency
Whenever you think of ecommerce, you will have to naturally think about warehousing, shipping, and fulfillment providers as these go hand in hand.
But finding a fulfillment provider that suits your requirement may not be as easy as expected. So if you are ready to make the leap and outsource the fulfillment of your orders, carefully consider below points on who you partner with.
There are lots of challenges when selecting a fulfillment provider, but they aren’t insurmountable. Choosing the right fulfillment house does require great deal of due diligence. After all, these companies will receive, store, pick, pack and ship your products and have an enormous impact on the customer purchase experience.
To protect the integrity of your brand you need a trusted partner. To determine who that should be, put them through the paces with these six key questions.
The digital era for supply chain is well under way.. Technology and supply chain having seemingly become inseparable..
Technologies such as Blockchain, IoT, Big Data, Machine Learning, Artificial Intelligence are all finding their niche in the whole process of supply chain..
Whether it is in terms of issuing a smart bill of lading to a customer miles away or ensuring quick delivery of mandarins to China, technology has found its place in supply chain and its influence is growing..
Digital freight forwarders are leveraging these technologies and offering instant solutions as required by BCOs and others involved in the industry.. These technologies also seem to have spawned Digital Shipping Lines who are seen as serious competition to the digital freight forwarders..
There have been and are many discussions, arguments, disagreements surrounding these technologies..But one thing is clear and that is the fact that there needs to be lots of effective and productive discussions about the use of technology, the innovations that has already happened and their future..
If you are interested in such discussions, Microsoft New York Headquarters, 11 Times Square, New York is the place you want to be, on the 19th and 20th of June 2019..
Executive Insights is a series by Shipping and Freight Resource that provides ongoing insights, enriching the knowledge of the readers with what is happening in the shipping, freight, maritime, logistics and supply chain industry and providing thoughtful analysis..
Executive Insights is also a chance to pick the brains of industry veterans, leaders and enablers..
In this latest edition, Shipping and Freight Resource caught up with Mick Morris – CEO and Co Founder of Buytasker LTD for some insights into the freight forwarding industry, the digital freight forwarding world and the technologies that they have created for the industry..
There is a discernible difference between Maritime, Shipping, Freight, Logistics and Supply Chain industries.. All performing various functions, but all connected in the grand scheme of things, keeping the propellers of global trade churning..
In very simple terms, Supply Chain is the whole granddaddy process comprising of all aspects in a product cycle, for example from picking of the fruit at a farm in Point A to delivering the fruit to the shelf at a store in Point B using all of the above-mentioned industries, businesses and services..
By some estimates, inefficiencies in the global supply chain impose overhead costs of between 15% and 20% of global GDP cumulatively – supply chain inefficiencies dampen corporate profits and lower societal well-being..
This presents an opportunity to solve a large and pervasive global problem, and to significantly boost global economic growth and prosperity in the process..
We report on the latest with The New York Supply Chain Meetup who are on their 10th meetup with #TNYSCM10..