Pre-rating inbound shipments based upon purchase order information leads to too many required corrections and an improper month-end accrual. Here's how you can lower your inbound freight costs and improve your accounting.
Large companies invested $153.4 million to transform their supply chain in the past three years, but only 10% became masters in achieving a profitable customer experience.
Accepting credit cards can be a major differentiator for businesses, enabling customers to pay however is most convenient for them. To balance this need with the necessity of maintaining margins, consider credit card surcharging.
Lean accounting coupled with a lean supply chain can ensure everyone is rowing in the same direction to reach the maximum, long-range goals and benefits of Lean thinking.
How will blockchain technology impact the future of the supply chain?
Having a Master Plan in place at your port makes operations more efficient, and makes the port more attractive to prospective partners.
Freight audit and payment services analyze shipment data to reveal inefficiencies and identify savings opportunities.
Freight bill payment and auditing services save shippers money by finding billing errors and optimization opportunities.
Managing loss and damage claims can be challenging for shippers. Claims processing providers can facilitate and educate.
Companies can gain several benefits by partnering with the right freight payment company.
Hunter Harrison documents the culture change that has contributed to Canadian Pacific’s rail renaissance; Global companies more concerned about climate risk than emissions reductions; Deadline for new ISO17712:2013 high-security seal standards is fast approaching; Lack of collaboration between supply chain and finance hurts the bottom line
Shippers protect against supply chain disruptions with physical, analytical, and financial risk mitigation strategies.
Automating supplier payments through commercial cards helps companies facilitate their payment process.
Freight audit and payment services allow shippers to leverage data to solve their business challenges.
Shippers can benefit by using a bank to facilitate carrier payment transactions.
Shipping freight plays a vital role in supply chain management, yet many shippers neglect to take control of their inbound shipments. Industry experts offer strategies for overcoming five common obstacles to successful inbound freight management.
Prologis Pulaski DC breaks ground, breaks new barriers in sustainable development; Voice technology finds traction in the supply chain; Healthcare industry stands to gain by adopting retail supply chain best practices; Freight spot market swings with seasonal demand; Midwest floods present new challenges for inland waterway shippers
Danny Monson of States Logistics Services Inc. offers tips to help shippers confirm a logistics service provider is financially stable before signing a logistics service contract.
Stephanie Miles of Amber Road offers advice on how shippers can manage the growing complexity of international supply chains and their associated increasing transportation costs.
By reviewing shipment history, carrier assignments, and freight invoices, a benchmark study will accurately reveal your company’s transportation costs, writes Mike Challman, VP of North American Operations, ChemLogix.
An ounce of prevention is worth a pound of cure. Conduct a financial checkup of your potential 3PL partners before you sign the contract.
Leveraging IT, reconsidering warehouse processes, and conducting periodic network optimization projects are just three of many strategies that enable shippers to not only trim costs, but ensure that transportation spending supports overall business goals.
Having a financing partner that specializes in the transportation industry is important for trucking companies because it will understand their capital needs, collateral values, and financing alternatives, says Nick Weaver, Regions Bank.
Leading freight payment service providers continue to enhance the array of tools they offer to help shippers make the most of freight payment data.
Improving order-to-cash cycle effectiveness requires more than speeding receivables. Scott Pezza, research analyst, The Aberdeen Group, offers advice for enhancing the overall process by focusing on long-term goals and relationships with customers.
By helping tire importer TBC Corporation convert its inbound transportation to free-on-board (FOB) terms and control freight costs, American Global Logistics rolled out a supply chain transformation.
Innovative supply chain management delivers financial benefits to your bottom line.
A low-cost provider may produce short-term savings but will not deliver sustainable efficiencies and the level of service shippers expect. Strategic partnerships that are mutually beneficial stand the test of time and drive waste out of shippers’ supply chains.
How the pandemic has exposed the weaknesses of the traditional order-to-cash process across the supply chain.
Distributors face liquidity shortages brought on by the pandemic. Pressed between both struggling ends of the supply chain, they can only negotiate so far. What are they to do? The answer may lie in their receivables.
Companies can avoid some of the pitfalls of supply chain risk by developing risk mitigation strategies such as supply chain mapping and applying the lessons learned from the COVID-19 pandemic. To mitigate risk, your company should have these five capabilities.
The three M’s are key areas to explore and break down to realize the full potential of your company and help you to get the biggest, fastest savings in your supply chain, today.
Cost savings has been the number-one priority for heads of procurement and finance across industries. Unfortunately, there is a common misconception that this must be achieved through lean, just-in-time processes and a focus on limited inventory.
With RateLinx’s TracLinx module, an electronics retailer gained accurate tracking data and corrected sequential issues in real-time, allowing the company to make better logistics decisions and drive other initiatives.
Supply chain visibility is one of the key drivers to a company’s success, yet still remains a top challenge.
COVID-19 has created unprecedented challenges for supply chain and logistics management, and the pressure is on to deliver essential supplies, such as toilet paper and food, to consumers on time. Successfully delivering a product on time involves many factors, and labeling shipments correctly is one of them.
In light of a strengthening economy, business owners, controllers, and chief financial officers (CFOs) at companies in need of shipping solutions should evaluate their fleet needs and understand their equipment and financing options.
COVID-19 upended supply chains, increased costs, and tightened capacity, leaving shippers struggling to deliver high-quality service. Shared truckload could be the answer.
Manufacturers have been outsourcing noncore production processes for decades, and the trend continues. The key to successful outsourcing is assuring the 3PL value-added assembler (VAA) has a quality management system.
To capitalize on what they’ve learned, transform, and thrive in a post-COVID world, supply chain leaders should focus on these five pillars: people, finances, decision-making, infrastructure, and customers.
As the supply chain faces factory closures and limited access to employees and logistics to move goods amid the COVID-19 outbreak, leaders can help ease disruption by focusing on their workforce, products, and costs, according to Gartner.
Decisions made with incorrect data lead to no cost savings and compounding incorrect data throughout the supply chain. Here's how to make sure your data is sound.
Partnering with a 3PL that offers a comprehensive transportation management system can help your enterprise take control of the LTL spend.
Growing demand for low-cost services and a rapidly expanding e-commerce sector will boost the market valuation of third-party logistics (3PL) to $1.8 trillion by 2026.
The clearer your RFP, the easier it will be for 3PLs to understand your requirements and provide you with the information you need to make an informed selection.
This story examines factoring, supply chain financing, and variations on those strategies that trading partners use to optimize their cash flows.
The business case for capitalizing on record freight volumes is clear. Here’s how to unlock immense sums of money in the supply chain.
Supply chain financing allows companies to delay paying for transportation or goods while suppliers are still paid quickly – for a fee. While it might seem counterintuitive, participants say it’s a win-win for all. Here’s how it works and trends worth watching.