Freight costs and freight budget adherence are among the most important and often overlooked aspects of transportation management. As the industry struggles to recover from the unprecedented global events of 2020, recognizing budget limitations is essential for industry growth and success.
The costs of logistics as a ratio of total expenses are too significant to ignore. For example, according to Global Trade Magazine, “One critical factor that executives should monitor closely is logistics management. This sector covers important activities relating to procurement, transport, and storage of goods. In most industries, supply chain logistics account for 5% to 50% of a product’s total cost.”
As businesses grow in this era of technology, they aim to enhance their efficiency and productivity. Technology makes businesses more efficient and productive in the best possible ways. The development of weighting technologies, such as a weighbridge, also contributes to improving the efficiency of businesses.
A weighbridge is a device that is used to measure the weight of loaded/unloaded trucks and vehicles. It is also used to manage the incoming and outgoing vehicles. The present-day weighbridges are so advanced that they provide data regarding stock levels.
Let us explore all the benefits of a weighbridge for a business.
After the eCommerce boom in 2020-21, the number of global digital shoppers is predicted to hit 2.05 billion U.S. dollars from 1.32 billion U.S. dollars in 2024. It’s a great time to capitalize on some of the trending ideas like the Amazon Prime Air service shipping solution that will deliver packages up to five pounds in 30 minutes or less using small AI-enabled drones for delightful delivery experiences.
This is the time online retail businesses need to optimize and improve their supply chain and logistics processes. They need to bring in advanced routing capabilities, improve visibility of end-to-end logistics operations, boost productivity, etc. All of these aspects empower retailers to meet customer expectations and stay profitable.
When it comes to choosing a shipping solution, businesses need to be resourceful and smart.
Many businesses rely on vehicle fleets to deliver their products or services to customers. For this reason, an efficient, well-organized fleet is key to maintaining a good workflow.
While there are many things businesses can do to improve the workflow of their vehicle fleets, one of the most important is to have a vehicle tracking system. A vehicle tracking system lets you know your fleet’s location in real time. You can also review historical data to identify patterns.
There is an abundance of chatter in shipping and freight about digitizing supply chains, with reports that more spending than ever before is being poured into developing software and platforms. The consensus across industries is that improving supply chain visibility and B2B connectivity is a primary challenge, and that digitizing the supply chain is a way to enhance managing all the data.
In a recent JOC.com article, it was commented that progressive supply chain innovation lies in “cleaning up data, creating data standards, connecting siloed data sets through APIs, and facilitating collaborative workflows”.
We at FreightPOP strongly share this point of view.
The expansion of international trade as early as the medieval times led to the development of a system to help merchants keep track of the conditions of goods, as well as to validate its time and location of loading.
Over the course of history, this system of validation in the form of receipt has played a major role in the modern world of commerce and is now widely known as a bill of lading or BOL.
We’ve been hearing a lot about contactless delivery and how this transportation method can be helpful during national emergencies such as the unraveling COVID-19 pandemic. What is the best way to deliver packages and transport goods while also reducing human-to-human contact?
“Shippers, carriers, wholesale vendors, and others in the supply chain are concerned about the performance of the freight logistics system because highway, rail, and port operations affect their costs and profits,” state experts in the report Measuring the Transportation System from a Supply Chain Perspective, highlighting the vital role and importance of transport to a host of industries.
Indeed, economic growth and competitiveness cannot be achieved without efficient transportation, since it enables logistics to bring its advantages into full play.
While you can find many supposed intellectuals kicking around a ball about what really made western society great, almost anyone is going to agree that modern western civilization would not be where it is today without the use of trucking. What is the minimum load for trucking?
Inventions were great, and assembly lines and the Industrial Revolution were truly spectacular. Still, it was the ability to ship goods throughout the land that really ushered in modernity in ways that we never thought were possible before.
All of this was enabled due to hard-working truckers out there driving across the country to deliver their freight.
Anyone in Supply Chain has likely heard the phrase “Incoterms”, certainly if you are involved in Freight and Logistics management, or perhaps in Finance.
Even if you haven’t heard of “Incoterms” you are more likely to have heard of terms like “Ex Works”, “Free on Board” or FOB, or “DDP” (Delivered Duty Paid, amongst others. These, and more, are called Incoterms.
But for those who are unfamiliar with all of these acronyms and definitions they can be quite confusing and difficult to understand.
In this article we will endeavour to provide more clarity on what Incoterms are.
A trucking company’s primary purpose is to transport full-truckloads of goods from one location to another. It is no surprise that most people think truck companies offer no other services to their customers. This is a sad, not to mention costly, mistake. These companies know very well how to become a dispatcher and how to keep customers satisfied.
Logistics refers to the detailed coordination of a complex operation that involves people, facilities and supplies. In the world of business, to improve logistics management is the practice of managing a certain flow of things between the point of origin and point of consumption in order to satisfy the needs of customers and operations.
Many enterprises today tend to pay a lot of attention to the way of how they manage logistics because it basically helps them to increase the value of their business. Logistics have the capability to enhance the merchandise and make the products much more accessible. Additionally, the economy of a country depends heavily on the efficiency of logistics to support the stable movement and flow of many economic operations.
Logistics management is one of the most vital components of business operations as its result often brings a significant impact on the internal processes as well as relation with customers.
The transportation industry has seen a rapid influx of interest and growth over the last several years, and this includes the professionals who work as intermediaries between shippers and carriers, such as a freight broker.
Licensed freight brokers operate around the country in various markets, helping make the transport of goods a reality for their customers. Currently, more than 17,000 freight brokers work in the United States, either as independent businesses or as part of a team. Many use business license software to keep things operating smoothly.
However, not all freight brokers experience the same degree of success in their profession.