Demurrage & Detention: The Cash Opportunity of Logistics

Posted by Chester Yavari

"Free time" is often viewed as a luxury that we as human beings look as a time of relaxation, however in the world of global trade it costs about $35 million dollars in demurrage and detention, which are completely avoidable and preventable fees. These fees result in delayed deliveries and payments, lost sales, and lack of product availability for organizations facing congested ports and poor data analytics to help avoid these fines.

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Topics: Rate Management, Contract & Rate Management, Transportation Management

Video Series Chapter 4: Logistics

Posted by Joe Gabro

Continued from Chapter 3: Risk & Quality Management

Transporting goods internationally requires a carefully coordinated approach. Multiple hand-offs and responsibilities across borders and trading partners add both cost and complexity. If you don’t have the right processes in place (and the tools to support them), your bottom line will suffer.

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Topics: Rate Management, Contract & Rate Management, Transportation Management, Supply Chain Visibility

Solving the Global Transportation Puzzle: Strategies to Optimize Profits

Posted by Colleen Bush

Every U.S. organization involved with global transportation management is faced with what seems to be an ever-shifting puzzle of regulations, compliance hurdles, and carrier networks that are now stressed to balance capacity, costs and service.

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Topics: Rate Management, Contract & Rate Management, Transportation Management

Upcoming Webinar: How Bolloré Logistics Expedited Rate Quotes and Reduced Transportation Costs

Posted by Colleen Bush

Global transportation isn’t getting any easier to manage, especially for non-vessel operating common carriers (NVOCCs). Faced with uncertainties like surcharges—but needing to remain competitive when bidding against other providers—NVOCCs need the right mix of historical data, data intelligence, and technology support to make quick and effective decisions in the changing global market.

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Topics: Rate Management, Contract & Rate Management, Transportation Management

Three Imperatives for Managing Carrier Rate Selection

Posted by Kelsey Barker

The annual freight rate contract negotiation process is underway, and it is imperative that shippers fully evaluate their carrier options, utilizing knowledge of historical changes and past performance in their trade lanes. The complexity of freight rate contracts places a strong burden on shippers and NVOCCs to comprehensively understand the proposed rates and surcharges, including any exclusions or exceptions.

Reconciling all of these factors in the carrier rate selection process is a difficult objective for both the partners receiving RFPs to quote, and those reviewing responses. In addition, understanding the carrier's historical on-time performance for a lane is a key factor in deciding whether to award the carrier volume for that lane.

So, how do you ensure your global shipments are contracted with a cost-effective and reliable provider? How do you quickly and accurately quote lanes in an RFP or analyze the response to an RFP? When seeking answers to these questions, shippers and NVOCC's should consider the following as imperatives for managing carrier freight rates.

1. Standardize and centrally manage carrier contracts

Carrier contract formats and verbiage regarding the conditions for applying tariff surcharges vary greatly. Converting various textual contract formats into a standard structure, where services can be easily compared across carriers, enables a solid foundation for centralized management and cost comparison. What this means for your company is a simplified and more efficient process for accessing accurate, fully calculable surcharges and rates to identify the best options.

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Topics: Rate Management, Carrier Selection & Booking, Transportation Management

Best Practices in International Logistics

Posted by Colleen Bush

In this era of globalization, it’s no surprise that companies are moving their operations to low cost suppliers. However, many of these organizations are finding that higher than expected transportation expenses end up outweighing the benefits. In fact, according to Aberdeen Group research, international shipments cost twice as much, take five times as long and have five times more variability than domestic shipments.

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Topics: Invoice Management, Rate Management, Contract & Rate Management, Transportation Management

Amway Improves Supply Chain Visibility with Amber Road

Posted by Kelsey Barker

Increased globalization of the supply chain is causing shipments to spend more time in the transport and logistics pipeline, particularly the ocean. Many companies have identified the link between costs and intercontinental shipping event performance and are striving for proactive supply chain data and efficient collaboration with trade partners.

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Topics: Rate Management, Supply Chain Visibility, Order and Shipment Visibility, Data Quality Management

Low Water Levels Cause Freight Rate Increases in Europe

Posted by Emily Thornton

Here's an interesting dilemma that's been causing barge rates to rise in Europe: unusually low water levels in the Rhine River have caused higher rates for shipping products along the river, a main waterway for refineries and chemical plants in Germany and Switzerland. Because of the low levels, vessels have been forced to lighten their loads to avoid running aground. So more vessels are needed, causing higher freight rates. Hopefully our friends in Europe will get some rain soon!

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Topics: Rate Management, Transportation Management

Control Your Transportation Spend, Despite Rate Fluctuations

Posted by Emily Thornton

Over the past several months, shippers have watched container freight rates fluctuate constantly in an apparently very unstable market. It has become an issue for shippers, who cannot forecast their transport costs, as well as container shipping companies and freight forwarders.

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Topics: Rate Management, Transportation Management