Today, freight procurement is more than just about the price. It is one of the most crucial parts of the supply chain and has the potential to enable high-performance levels and drive ROI to a major extent. The ongoing year has been a year of disruption and transformation for the freight procurement industry owing to…
If you are a logistics or supply chain manager, the terms freight tender, RFQ proposal and transport procurement would probably be synonymous with tedious and time-consuming processes. Nevertheless, freight tendering is a crucial part of the procurement process. Owing to the unforeseen pandemic and its aftermath, supply and demand have witnessed severe fluctuations. Securing reasonable…
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…
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…
Deciding whether your organization needs a 3PL or a 4PL provider is an integral part of your supply chain management. Mistakes on this front can and do happen, costing companies big money. The key here is to understand the five kinds of logistics parties and learn to distinguish between the services they provide. While in…
Businesses that deal with international shipments are always faced with the dilemma of choosing between Ocean freight and Air freight at some point or the other. Although the two serve the same purpose, they are poles apart in multiple ways. Choosing to use one over the other is a highly conditional decision and boils down…
More often than not, the freight world deals with two standard terms—Supply Chain Management (SCM) and Logistics Management (LM). These are used interchangeably, and not many people know the difference between logistics and supply chain management. Logistics management is a small portion of Supply Chain Management that combines the flow of goods, services, information, and…
With tightening capacity and ever-soaring rates in the face of COVID-19, managing logistics and shipping goods has become a turbulent experience. Investing in the right TMS can streamline your operations and boost business. However, with so many options to choose from, how do you identify the TMS best-suited for your organisation and your budget? What…
The larger, more complex and interdependent an industry grows, greater the scope for errors to occur. Certainly, the rapidly growing and highly intricate supply chain industry is no exception. When it comes to supply chains, be it a small error (like slight delays in tracking your shipments) or a missed opportunity (getting better freight quotes…
Real-time tracking is an integral part of this process, having so many players moving your freight effectively takes the control away from your hands. The question here is—What exactly is going wrong with your distribution, and how significant a role does real-time visibility play in this picture? In today’s fast-paced freight world, more and more…