If you are looking for reducing costs and increasing profits in your business, you are at the right place. According to the CSCMP State of Logistics Report of 2015, logistics make up around 8% of the GDP. You can focus on a few of the basic parts of your business to reduce logistics costs.
Day-by-day the supply chain industry is growing by leaps and bounds! With the growing complexity in this field, it is obvious that there will be a growth in the risks involved and problems faced too. Thus, it is very crucial to be well-prepared beforehand with improved supply chain risk management and resiliency processes. Remember that risks involved may not always be negative. Sudden positive changes like unexpected increase in demand for a product can also be a risk to be encountered. This is because in case of a sudden increase in demand, the company will have to shift from its regular production processes to a much faster one until the demand reduces back to normal again. If the company is unable to increase production and satisfy the needs of its clients, it may be quite possible that they lose their customers and brand reputation too! So, for any positive or negative risks involved, supply chain risk management and resiliency are two important factors.
Are you spending more than you should on your warehouse expenses? Then, you must have enough control over it and reduce your costs. Do you know that focusing on your inventory can help reduce your warehouse costs? If this makes you wonder, take a look at this article to give you a deeper understanding.
In the present day, you can see lots of freight forwarders across the globe. Any and every person can easily get into the business to handle your imports and exports. The market is full of such people – some are genuine while the others may not be capable of doing the job. With so many freight forwarders out there, how would you know which is a genuine one? Here are a few checks you must make to know whether your selected freight forwarder is the right choice for you or not.
Remember the time when there was high freight demand and capacity issues for shippers? This was just 3 years ago when the shipping market was very unstable. And today, with growth of economy across the globe and success of the omni-channel world, many challenges have been overcome. But, eCommerce companies have boomed in these few years and created new challenges for multi-channel retailers. Consumer expectations have risen with quick home deliveries, free shipping and cash on delivery features offered by these eCommerce companies. Multi-channel retailers are having a tough time keeping up with these expectations. And with this, shippers are also facing greater pressures. They are expected to provide the retailers with their products at the lowest possible costs and at the time when the retailer wants it to be delivered. These pain points have become more challenging with LTL, TL and parcel solutions. This is why logistics are coming up with more creative solutions like freight consolidation services.