Articles
Finance
Cashing In: 5 Supply Chain Financing Trends
Supply chain financing solutions that allow both buyers and suppliers to optimize cash flow are becoming increasingly popular as more options become available. Here are five trends that are on the money.
Read MoreA Resurgence in Trucking Investments Presents Opportunities for Shippers
Economic indicators and data reports suggest the economy is strengthening, which should continue to promote business confidence through the remainder of 2017. The second quarter 2017 U.S. GDP report indicated that expenditures grew by 3.3 percent, led by an 8.9-percent gain in durable goods spending. With increasing expenditures for durable and non-durable goods, manufacturers, retailers, […]
Read MoreDebt: A Rising Risk in Your Supply Chain
Of all the sources of risk supply chain managers face on a daily basis—cargo theft, natural disasters, long lead times, and unpredictable demand—none is currently at an inflection point quite like debt. This topic was addressed in a recent webinar by two leading authorities on corporate financial health: Dr. Edward Altman, Professor of Finance, Emeritus, […]
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Blockchain Supply Chain?
Anyone doing business in a global environment knows that a lot of friction in trade activities is directly related to finance: regulatory and compliance speed bumps, fraud, letters of credit, manual and fax-based documentation. In trade finance, the sheer number of borders, intermediaries, regulatory authorities—and lack of technology—can sometimes stall your product, no matter what […]
Read MoreWhy Ports Need a Master Plan
Ports constitute an important economic hub and critical economic engines, bringing varying degrees of benefit to the international, regional, and local economies in which they operate. In a sense, ports are much like living organisms. In biology, organisms are defined as contiguous living systems, which, in at least some form, are capable of response to […]
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Freight Audit and Payment Services: Stacking Up Savings
Analyzing shipment data can reveal trouble spots and identify opportunities to cut costs. Freight audit and payment services provide the supply chain analytics and expertise to give shippers an edge.
Read MoreCalculating the Benefits of Freight Bill Auditing
In the world of big data, a decimal point can make all the difference. Because freight charges represent up to 10 percent of a company’s total expenses, identifying and correcting freight bill errors through auditing is crucial, and shippers want to glean the same insights for their global transportation moves as they capture from domestic […]
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Getting a Handle on Loss and Damage Claims
Q: Why are loss and damage claims a challenge for shippers? A: Global shippers face many challenges when it comes to managing loss and damage claims. The top three are a lack of knowledge about claims preparation and filing requirements (including documentation and time frames); a lack of resources to follow through on outstanding claims; […]
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Is Your Freight Payment Company Equipped to Audit Your Invoices?
Businesses use freight payment companies (FPCs) to decrease internal administration costs and maintain detailed back-up information for their finance departments. They rely on FPCs to review weekly transportation invoices for accuracy and make payments on their behalf. Some companies also count on FPCs to audit their invoices. Companies can gain several benefits by partnering with […]
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Trends—February 2014
Canadian Pacific: All Aboard the Profit Train Canadian Pacific Railway‘s renaissance under the tutelage of CEO Hunter Harrison continues unabated. After the veteran railroader’s first full year in charge, the Calgary, Alberta-based railroad posted high-water marks in 2013—despite disruptive spring floods . Canadian Pacific reported total record revenue of $6.1 billion in 2013, with net […]
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Risk Mitigation: Supply Chain Safety Net
Meeting demand without overinvesting in safety stock can be a real balancing act. Risk mitigation strategies protect shippers from landing hard when supply chain disruptions occur.
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Automating B2B Payments: The Next Frontier
When it comes to automation in B2B payments, we have a long way to go. Too often, payments are disconnected from the underlying commercial transaction, creating problems from proper initiation to reconciliation. Automating B2B payments is challenging for many reasons. Selling a product or service and getting paid are often two different processes. Anyone who […]
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Gold Mining: Unearthing the Value in Freight Audit and Payment Services
No longer a simple accounting function, freight audit and payment services give shippers access to financial data they can dig into for money-saving insights.
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Transportation Payment—Bank on a Better Way
The definition of "carrier" is pretty straightforward: an entity that transports freight. Carriers are in the transportation business, plain and simple. Actually, not so simple. Carriers are also in the credit business. Unintentionally, to be sure, but they are. When carriers set payment terms of 45 days, they are essentially extending credit to the shipper […]
Read MoreAssessing Your Provider’s Financial Stability
There’s nothing worse than hiring a logistics provider or carrier, then having it file for bankruptcy or close shop the day before you have a huge shipment planned for a new customer. Danny Monson, president and CFO of States Logistics Services Inc., offers these tips for verifying a service provider is financially stable—before you start […]
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Trends—May 2013
Garden State Gets Greener New Jersey and sustainable development are perfect together. Industrial real estate developer Prologis recently broke ground on a new, 880,000-square-foot distribution facility on the Hackensack River in Jersey City, N.J. The Prologis Pulaski Distribution Center, a 50-acre former landfill, is located four miles from the Port of Elizabeth and three miles […]
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Inbound Freight Management: 5 Roadblocks (and How to Get Around Them)
Managing inbound freight effectively can be challenging, but the obstacles don’t have to deter you from the benefits. Our experts map out detours to help you reach your goal.
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Delivering Procure-To-Pay Success
The next step in inbound logistics goes beyond delivering goods. As e-invoicing and procure-to-pay networks have evolved into broad-based business networks, advancements now enable professionals to finally connect all the dots in the supply chain. Over a secure cloud-based network, customers share accurate, actionable data with suppliers around the world, enabling immediate electronic transactions and […]
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Are You Paying Too Much for Transportation? Benchmark Carrier Activities to Find Out
If you haven’t reviewed your carrier activity in the past 12 to 18 months, there’s a good chance your transportation costs are more than what you’ve planned, higher than the rates listed in your routing guide, and, quite possibly, higher than competitive market rates. Over the past year, shippers have begun to feel the pinch […]
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Best Practices to Manage International Freight Spend
Many companies have switched operations to low cost suppliers—only to find that higher than expected transportation expenses outweighed the benefits. In fact, the logistics costs associated with operating a global supply chain can be 6 to 11 percent of revenue, roughly three to five times more than a domestic supply network. A recent AberdeenGroup report, […]
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