After a wild year that 2020 was, the arrival of the covid-19 vaccine, at last, got along a great deal of relief for everyone. However, the already-stretched supply chains are now up for a more significant challenge- to execute an unprecedented worldwide distribution of the vaccine. What we are witnessing today is the post-pandemic phase…
As a shipper, one of the best ways to minimise risks and unpleasant surprises when shipping your goods is to keep a close track of your shipment’s movement. Undoubtedly, the key to running a smooth supply chain is to have real-time and end-to-end visibility over the location of your cargo. Earlier, logistics managers had to…
For companies with an import-export-oriented business, reducing transportation costs has always been a critical priority. While traditionally cutting down on transportation costs was quite a challenge, various technological advancements have made it possible to manage transportation costs better and drive savings. Today, there is a wide range of ways in which you can optimize transportation…
To keep your supply chain running smoothly, it’s essential to have visibility and control over your supply chain operations. By having access to real-time data on your operations, automating repetitive tasks, and gaining insights through big data analytics, you can build a flexible and robust supply chain network. It is here that a competent logistics…
With the complex and volatile global trade environment pushing rates higher and making capacity tighter, have put shippers and their freight procurement teams under tremendous pressure. They need to strike a balance between not skimping on quality when it comes to working with the right suppliers and freight forwarders—and squeezing as much value as possible…
As we get close to the end of 2020 and global supply chains slowly begin to recover from the covid setback, now is the time to pause, look back and review the lessons learnt through the pandemic while chalking out new strategies for the year ahead. Besides, it’s time we note that in a year…
Tired of wrestling with freight quotes and chasing down the best deals? Imagine a world where AI negotiates for you, specialized software tackles specific challenges, and the cloud keeps everything accessible. AI is reshaping supply chain innovation, management, and optimization of freight operations. This is the reality of modern freight procurement software! We’ve explored the…
For any supply chain and logistics professional, invoice reconciliation is a major task; if it’s a good day, everything runs smoothly, but if not, several mistakes can and often do happen while processing invoices inviting several inefficiencies. Market studies show that 25-30% of all freight invoices are wrong, with many discrepancies ultimately going unchecked. When…
Whether you are a seasoned professional or just starting out in the logistics industry, there are quite a few common terms that you need to be aware of. This will help you to understand the freight forwarding process and ensure smooth operations. To enable an efficient supply chain, and avoid miscommunications in payment of freight,…
If you are active in the world of international trade, there is no avoiding the incoterms. The freight industry is governed by a voluntary yet authoritative set of rules known as the Incoterms. Anybody working in this industry will have come across this term at some point, but there is some ambiguity surrounding these rules. …
Amid countless technologies that continue to present promising opportunities to the supply chain industry, blockchain has emerged as a critical innovation, with the potential to revolutionise digital supply chain management. With supply chains growing more complicated by the day, using blockchain technology can help organisations record relevant information more efficiently, making way for improved transparency,…
As the ongoing pandemic continues to raise concerns about the agility of global supply chains, organisations across industries are looking for ways to identify and leverage new opportunities and weather the storm. In a webinar hosted by GoComet last week, vice-president procurement of Glenmark Pharmaceuticals Rajasekhara Reddy emphasised how technology and a strong team are…
Often, the terms green and sustainable seem like synonyms of each other, but are most definitely not. While going green looks at only the environmental aspect of it, being sustainable is equivalent to taking into account the social, economical and environmental impact of that particular product or organisation. In this day and age, the traditional…
For organisations that ship goods internationally, shipping cost accounts for a significant expense and its dynamic nature makes it close to impossible to spot opportunities for driving cost savings. Especially for businesses that are inventory intensive, logistics cost plays a crucial role in determining profitability. However, there are several practices you can deploy to beat…
Today’s dynamic logistics and supply chain environment requires strategic planning; execution of strategy; measurements to goals; analysis against industry benchmarks; and continuous improvement. However, negotiating quotes for your freight remains a static process. Freight procurement via an RFQ (Request For Quote) is plagued with inefficiencies when done manually. With logistics operations accounting for nearly 95%…
Spiraling freight rates have left businesses around the world scrambling to stay afloat during the coronavirus pandemic, piling yet more pressure on already stretched global supply chains. At the core of this problem: shrinking cargo space. Here’s what has led to a decrease in cargo capacity and how it is impacting freight rates. Airplanes grounded,…
The lack of data in your freight management process is disrupting your supply chain and leaving your logistics team in the dark. Read this blog to find out the benefits of integrating data and freight analytics into your freight process.
Are you sick and tired of paying thousands of dollars to your freight forwarders? Do you want to save money on your international freight procurement? The way you negotiate is key. Negotiation saves your business money. It allows you to work towards a lower price, making sure you pay less for your freight procurement. Unfortunately,…
Now straight off the bat, you’ll be thinking that the above looks a little strange. How on earth could the biggest cricketing tournament in the world helps reduce my freight charges? Well, as the teams are about to break for drinks, let’s read on, to find out how. First, let’s set the field. You’re a…
Research shows that only 30% of shipping quotes from forwarders are provided in 48 hours or less. 14% take over 4 days and over 40% of quote requests are never responded to. What happens when your forwarder does not quote to you in time?1. Your shipments get delayed because you don’t have clarity on the price…
