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The impact that cost of goods sold (COGS) has on a company’s bottom line cannot be understated. Yet, for all of the attention that businesses dedicate to traditional COGS elements such as manufacturing, materials, and labor costs, one key area is constantly overlooked when it comes to COGS planning, strategy, and execution -- transportation.
Have you ever experienced a diagonal or horizontal crack in your home’s foundation? If so, you know leaving these cracks unattended will lead to bigger problems and costly repairs. If a shipper's freight procurement process is static and stymied by lack of capacity, then the shipper has cracks in its foundation too. Unfortunately, if left unattended, the shipper runs the risk of:
The freight market continues to carve out new records, and last week is no exception. Tender rejections remained above 25%, which is no surprise because it’s been there for months. And reefer is even higher at 50% rejection. All that said, the big surprise is that DAT reported contract rates ($2.76 per mile) higher than spot ($2.62 per mile).
AI (artificial intelligence) is one of the hottest topics in technology circles today. And although AI may be generating a ton of headlines in verticals such as retail, healthcare, and consumer tech, it is also playing a huge role in reshaping transportation and logistics.
If you’re a food, beverage, cosmetics or pharma manufacturer, and require temperature controls, chances are you’re struggling to move freight. Reefer tender rejection continues to hover around 50%, up from 10% this same time last year. Think about this for a moment… 50% rejection means one out of every two tendered reefer loads are passed on. To complicate matters, produce season is right around the corner so chances are the situation will get worse before it gets better.
Originally posted on FreightWaves
Newly released U.S. Coast Guard video offers visceral proof of just how extreme the congestion has become at the ports of Los Angeles and Long Beach. The new view from above reveals a vast armada of container ships scattered at anchor across California’s San Pedro Bay.
Originally posted on SupplyChain247
Which supply chain challenges will preoccupy companies in 2021? Many are reflected in MIT CTL's research agenda for the new year, so we asked our senior researchers to describe what they would like to achieve in 2021.
Originally posted on K-Ratio
Trucking is a commodity and like any commodity, its price, though volatile and unpredictable, is still subject to the principles of supply and demand. In 2020, these principles, and their derivative concepts, were stressed and stretched to their very limits but always held true. One would be hard pressed to find another calendar year containing as many economic cycles as the prior. Unfortunately, or perhaps fortunately depending on which business one is in, 2021 will likely pick up and continue right where 2020 left off. Despite the extreme seasonality typically found inside freight, markets do not stop or
When a market or industry is disrupted, changes need to be made to help overcome the challenges that caused the disruption in the first place. Remember Blockbuster? They failed to overcome Netflix's new disruption of DVD-by-mail and died over night. Same goes for the supply chain. Everything about the supply chain is evolving right now. And if a company is unable, or unwilling, to join the evolution there will be massive ramifications. So what can a company do to evolve?