Global Trade Magazine http://www.globaltrademag.com THE MAGAZINE FOR U.S. COMPANIES DOING BUSINESS GLOBALLY Sat, 23 Mar 2019 15:00:06 +0000 en-US hourly 1 12 SHIPPING COMPANIES RECOGNIZED FOR PROTECTING BLUE WHALES AND BLUE SKIES http://www.globaltrademag.com/departments/dispatches/12-shipping-companies-recognized-for-protecting-blue-whales-and-blue-skies/ http://www.globaltrademag.com/departments/dispatches/12-shipping-companies-recognized-for-protecting-blue-whales-and-blue-skies/#respond Sat, 23 Mar 2019 15:00:06 +0000 http://www.globaltrademag.com/?p=87139 Representatives from the Port of Los Angeles, three regional air pollution control districts, two National Marine Sanctuaries and a member... Read More

The post 12 SHIPPING COMPANIES RECOGNIZED FOR PROTECTING BLUE WHALES AND BLUE SKIES appeared first on Global Trade Magazine.

]]>
Representatives from the Port of Los Angeles, three regional air pollution control districts, two National Marine Sanctuaries and a member of Congress and the California State Senate gathered in Wilmington, CA, on March 6 to recognize 12 shipping companies that participated in the 2018 Protecting Blue Whales and Blue Skies program.

Those receiving awards for reducing speeds in the San Francisco Bay Area and the Santa Barbara Channel region were: Mediterranean Shipping Company (MSC), Great American Lines (GALI), K Line, Nippon Yusen Kaisha (NYK) Ro-Ro Division, Hyundai Glovis, COSCO, Evergreen, Hapag Lloyd, Maersk, CMA CGM, Ocean Network Express (ONE) and Yang Ming.

Leadership from participating and supporting agencies and organizations there to recognize the shipping companies included: Lisa Wunder, Marine Environmental manager at the Port of LA; Aeron Arlin Genet of the Santa Barbara County Air Pollution Control District; Mike Villegas of the Ventura County Air Pollution Control District; and Michael Murphy of the Bay Area Air Quality Management District.

Also, Chris Mobley of National Oceanic and Atmospheric Association (NOAA) Channel Islands National Marine Sanctuary; Dan Howard, NOAA Cordell Bank National Marine Sanctuary; and representatives for U.S. Congressman Alan Lowenthal (D-Long Beach, CA) and State Senator Ben Allen (D-Redondo Beach, CA).

 

The post 12 SHIPPING COMPANIES RECOGNIZED FOR PROTECTING BLUE WHALES AND BLUE SKIES appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/departments/dispatches/12-shipping-companies-recognized-for-protecting-blue-whales-and-blue-skies/feed/ 0
Transplace Shipper Symposium http://www.globaltrademag.com/departments/datebook/transplace-shipper-symposium/ http://www.globaltrademag.com/departments/datebook/transplace-shipper-symposium/#respond Sat, 23 Mar 2019 08:36:21 +0000 http://www.globaltrademag.com/?p=87151 The 17th annual event brings together today’s most forward-thinking transportation and logistics visionaries. Impacted by data management, capacity constraints and... Read More

The post Transplace Shipper Symposium appeared first on Global Trade Magazine.

]]>
The 17th annual event brings together today’s most forward-thinking transportation and logistics visionaries. Impacted by data management, capacity constraints and economic and regulatory issues? The Transplace Shipper Symposium is the place to be.

Don’t miss the opportunity to join transportation industry leaders at the Four Seasons Resort and Club in Dallas, Texas from May 6-8. Keynote speakers scheduled include Kenneth W. Gronbach, President of KGC Direct, LLC and Sarah Robb O’Hagan, Founder and CEO of Extreme Living.

The two-day conference is packed with networking and charity opportunities and includes an impressive lineup of panel speakers providing insight on topics such as LTL, intermodal, shippers,  and supply chain trends for 2019. This year’s event will also feature a special Women in Logistics Networking Event at the Four Seasons Well & Being Spa.

To register your spot for this exquisite conference, click here.

 

The post Transplace Shipper Symposium appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/departments/datebook/transplace-shipper-symposium/feed/ 0
3 Steps Companies Can Take To Improve Mental Health In The Workplace http://www.globaltrademag.com/global-trade-daily/3-steps-companies-can-take-to-improve-mental-health-in-the-workplace/ http://www.globaltrademag.com/global-trade-daily/3-steps-companies-can-take-to-improve-mental-health-in-the-workplace/#respond Sat, 23 Mar 2019 06:52:54 +0000 http://www.globaltrademag.com/?p=87132 Sick days among workers are commonly associated with physical ailments, but mental health issues also account for frequent absences. A... Read More

The post 3 Steps Companies Can Take To Improve Mental Health In The Workplace appeared first on Global Trade Magazine.

]]>
Sick days among workers are commonly associated with physical ailments, but mental health issues also account for frequent absences. A report from the 2018 Mental Health in the Workplace Summit showed that more people miss work due to stress and anxiety than for physical illness or injury.
Dealing with mental health can be a delicate issue for both employers and employees. Some think it carries a stigma, thus employees may attempt to hide their problem. A survey by the American Psychological Association found that less than half of American adult workers felt their companies supported the well-being of their employees.
Yet more companies, cognizant of productivity and cost issues associated with employee absences, are starting to implement mental health initiatives as part of their workplace wellness programs.
“Employees try to hide what they’re going through because they fear the negative consequences of being discovered. And these fears are justified,” says Ken Dolan-Del Vecchio (www.greengateleadership.com), formerly Vice President, Health and Wellness, at Prudential and founder of GreenGate Leadership®. “Many otherwise capable managers become very uncomfortable when they hear one of their team members mention words like stress, anxiety, and depression.
 “Forward-thinking employers are implementing initiatives that break stigma and improve access to effective care. They recognize the role of leaders at all levels in creating positive, respectful, health-promoting work environments. As has often been said, culture trumps strategy every time. An employer can have all the right policies in place, but it’s the culture that either brings these to life or makes them a joke.”
Dolan-Del Vecchio’s tips for employers:
Break the stigma. Studies indicate one in five American adults experience a form of mental illness. “Like most health conditions, these are most effectively treated when identified early,” Dolan-Del Vecchio says. “Stigma causes many who suffer to deny their need for care and, therefore, delay seeking it. Senior execs are in the best position to break the stigma. They can share their personal story if they live with a mental health condition, talk about how they have supported others, and sincerely encourage their employees to get the care they deserve.”
Improve access to effective care. “Hold your benefits provider system accountable for effective care delivery,” Dolan-Del Vecchio says. “Take a searching and fearless look at how well your organization’s mental health benefits actually serve those in need. You do that by creating an anonymous feedback mechanism for your employees and their family members. Sadly, I can almost guarantee that the results will show need for significant improvement.”
Train leaders. “Stress,” Dolan-Del Vecchio says, “is the enemy of health and sustained productivity. More than any other factor, our immediate supervisor creates the culture of our workplace. When leaders at every organizational level treat those who report to them with an attitude of caring and respect, including respect for initiative, autonomy, diversity, and reasonable limits when it comes to productivity, the best organizational results will follow.”
“It’s in everyone’s best interest for employers to fight the stigma linked to mental health issues, ensure medical benefit partners are delivering on their promises, and make sure leaders of people are up to the task,” Dolan-Del Vecchio says.
About Ken Dolan-Del Vecchio
Ken Dolan-Del Vecchio (www.greengateleadership.com) is an author, speaker, family therapist, and leadership and life skills consultant. His books include Simple Habits of Exceptional (But Not Perfect) ParentsThe Pet Loss Companion: Healing Advice From Family Therapists Who Lead Pet Loss Groups andMaking Love: Playing Power: Men, Women, and the Rewards of Intimate Justice. Ken founded GreenGate Leadership® after retiring from his role as Vice President, Health and Wellness, at Prudential, where he was responsible for behavioral health services for the company’s 20,000 U.S. Employees. Ken’s team’s work led Prudential to receive the American Psychological Association’s 2017 Organizational Excellence Award. Ken is a monthly NBC TV affiliate on-air guest and has been featured in The Wall Street Journal, Reuters, Fast Company, Bloomberg, Ignites, Entrepreneur, Fox Business News, The Chicago Tribune, Inc. Magazine, Working Mother, HR Executive and other media. In 2016 Ken was named Corporate Leader of the Year by the National Alliance of Mental Illness’ New York City-metro chapter.

 

The post 3 Steps Companies Can Take To Improve Mental Health In The Workplace appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/global-trade-daily/3-steps-companies-can-take-to-improve-mental-health-in-the-workplace/feed/ 0
The Workplace Blues: 5 Ways To Help Stressed-Out Employees the Workplace Blues: 5 Ways To Help Stressed-Out Employees http://www.globaltrademag.com/global-trade-daily/the-workplace-blues-5-ways-to-help-stressed-out-employees-the-workplace-blues-5-ways-to-help-stressed-out-employees/ http://www.globaltrademag.com/global-trade-daily/the-workplace-blues-5-ways-to-help-stressed-out-employees-the-workplace-blues-5-ways-to-help-stressed-out-employees/#respond Sat, 23 Mar 2019 06:50:48 +0000 http://www.globaltrademag.com/?p=87125 Problems with the emotional health of employees is costing employers up to $500 billion per year.  As a result, the... Read More

The post The Workplace Blues: 5 Ways To Help Stressed-Out Employees the Workplace Blues: 5 Ways To Help Stressed-Out Employees appeared first on Global Trade Magazine.

]]>
Problems with the emotional health of employees is costing employers up to $500 billion per year.  As a result, the global wellness market is growing nearly twice as fast as the global economy, according to the Global Wellness Institute (GWI).
For employers wondering whether their workers are stressed out and unhappy – and thus hurting the bottom line – the signs are everywhere.
Discontented employees are less likely to engage each other in conversation, relying instead on email. The absentee rate increases and production declines as workers call in sick more often. And, of course, eventually employees begin to search for a more emotionally stable place to work, leaving managers to constantly look for replacements.
“The employers who do not consider their employees’ emotional wellness are bound to suffer high turnover rates,” says Alex Zlatin, CEO of Maxim Software Systems, a dental-practice-management software company, and author of Responsible Dental Ownership(www.alexzlatin.com).  “Employers who are not responding to those needs will feel a significant impact.”
Zlatin says there are many ways to change the company structure to accommodate employees who are feeling stressed out:
1 Review existing (or create new) core values, vision and purpose: These items often sound like flaky ways for big corporations to show their connection to clients. The reality is, if done right, these items are the pillars of every company.
2. Walk the Walk – Leadership’s role in corporate change begins when its leaders behave the way they expect their staff to behave. If one of your core values is “have integrity” and the leaders do not act with integrity consistently, they cannot expect it from their teams.
3. Invest in employees – Create a “game” room for staff. Explore team activities that are pure fun and are not specifically designed to “enhance teamwork”. Treat random employees to lunch.
4. Monitor client feedback. Are your clients happy? If they are not happy, is it because your employees are not happy? When client feedback starts heading south, it might be because your employees are not “smiling on the phone” and if they are, it feels and sounds fake. Client feedback is the canary in the coal mine that your employees are not happy.
5. Don’t let employees suffer in silence. To reduce and prevent burnout, employers need to create a workplace culture that encourages employees to raise their hands and ask for help.
“The pressures of today’s society are unlike anything we have seen before,” Zlatin says.  “These pressures don’t go away when a person goes to work.  If employers want to have happy, satisfied employees, it is important that they offer comprehensive emotional wellness programs.”
About Alex Zlatin
Alex Zlatin, the author of the book Responsible Dental Ownership (www.alexzlatin.com), had more than 10 years of management experience before he accepted the position of CEO of a company that makes a dental practice management software (Maxident).  His company helps struggling dental professionals take control of their practices and reach the next level of success with responsible leadership strategies.  He earned a B.Sc. in Technology Management at HIT in Israel and earned his MBA at Edinburgh Business School.

The post The Workplace Blues: 5 Ways To Help Stressed-Out Employees the Workplace Blues: 5 Ways To Help Stressed-Out Employees appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/global-trade-daily/the-workplace-blues-5-ways-to-help-stressed-out-employees-the-workplace-blues-5-ways-to-help-stressed-out-employees/feed/ 0
IAAPA Expo Asia http://www.globaltrademag.com/departments/datebook/iaapa-expo-asia/ http://www.globaltrademag.com/departments/datebook/iaapa-expo-asia/#respond Sat, 23 Mar 2019 05:58:11 +0000 http://www.globaltrademag.com/?p=87119 Innovations, concepts and products from 300+ companies from around the world are presented at the conference held by the largest... Read More

The post IAAPA Expo Asia appeared first on Global Trade Magazine.

]]>
Innovations, concepts and products from 300+ companies from around the world are presented at the conference held by the largest international trade association for permanently located attractions around the globe.

From June 11-14, more than 8,500 leading operators, suppliers, investors, and developers in the leisure and attractions industry will gather for the opportunity to network at this year’s conference and trade show. Attendees from more than 60 countries are anticipated.

The IAAPA Expo Asia will take place at the Shanghai New International Expo Center in Shanghai, China and will feature hundreds of companies showcasing new and innovative products and services.

To register, please visit: IAAPA.org

The post IAAPA Expo Asia appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/departments/datebook/iaapa-expo-asia/feed/ 0
What to Consider when Planning for the Post-Brexit Period http://www.globaltrademag.com/global-trade-daily/what-to-consider-when-planning-for-the-post-brexit-period/ http://www.globaltrademag.com/global-trade-daily/what-to-consider-when-planning-for-the-post-brexit-period/#respond Fri, 22 Mar 2019 03:11:55 +0000 http://www.globaltrademag.com/?p=87112 The past weeks have seen a flurry of parliamentary activity in London, none of which has yielded any more clarity... Read More

The post What to Consider when Planning for the Post-Brexit Period appeared first on Global Trade Magazine.

]]>
The past weeks have seen a flurry of parliamentary activity in London, none of which has yielded any more clarity regarding the status of the UK’s membership in or relationship with the European Union. At time of writing, British lawmakers have twice voted down a proposed Brexit deal that EU officials have said is non-negotiable, and subsequently voted against leaving the EU without a deal.

Even in the likely event the EU agrees to delay the Brexit deadline, the future of Brexit remains very much in question, as Britain’s divided Parliament won’t be any more likely in the coming months to reach consensus than European officials are likely to re-open negotiations.

The innocent bystanders, of course, are the countless businesses on both sides of the English Channel, which have hitherto relied on seamless trade between the two entities, and which are increasingly reconsidering their relationships with suppliers and vendors across what has the potential to become a hard border.

Unprepared for Brexit

While the impending Brexit deadline has generated expected urgency in Britain’s parliament, the inevitability of Brexit has been known for nearly three years. Yet, as it stands today, many businesses are unprepared for the very real possibility of a hard Brexit. In fact, a recent report in the Wall Street Journal, citing a study by the Chartered Institute of Procurement & Supply (CIPS), notes only 40 percent of British businesses would be prepared to comply with a new customs compliance regime.

That’s a daunting number and serves as a call to action for those who have yet to prepare for Brexit’s rapid approach. Should a hard Brexit occur, it will serve as much more than a milestone; it will turn Britain’s customs regime on its head, sowing confusion and uncertainty that will inevitably result in disruption to supply chains, administrative headaches and unexpected costs. Industries heavily integrated with European supply chains, such as aerospace, pharma, food manufacturing and autos will face acute disruption.

Increasing Landed Costs

Perhaps the most urgent consideration for those who engage in trade will be the spike in associated landed costs. In the event of a hard Brexit, the current European customs regime will cease to apply to imports. The immediate effect will be the application of tariffs and Value-Added Taxes (VATs). Those tariffs will be based on Most Favored Nation (MFN) rates, which will vary by product and could be quite substantial. While the British government has already stated that, in the event of a hard Brexit, it plans to waive seven percent more tariffs than which  currently exist, VATs will still apply as will tariffs on virtually all imports from non-EU origins. That includes countries with which the EU currently maintains free trade deals, such as the Comprehensive and Economic Trade Agreement (CETA) recently signed between the EU and Canada.

Compliance (New customs regime)

While tariffs for EU imports may be reduced for the most part, customs declarations will still be required. This is a critical development. Given that approximately half of the UK’s imports come from the EU, and the EU has several trade agreements with key trading partners, there’s been little need for customs declarations in the UK to this point. However, after Brexit, the number of customs declarations is estimated to increase almost 400 percent (from 55 million to 205 million) at a cost of approximately £6.5billion or USD $9.1 billion to businesses. In addition, there will be 180,000 British business who will be filing a customs declaration for the first time, while those who have already been filing declarations will need to adjust to a new regime of customs classification.

The importance of correctly classifying these cross border movements cannot be overstated. In a best-case scenario, such as declarations with missing information, importers will face delays at UK border crossings, which are already anticipated to be backlogged. In a worst-case scenario in which goods are misclassified, importers may face retroactive payments on top of financial penalties and – in extreme cases – lose their authorizations to import.

Border Delays

According to CIPS, 10 percent of UK businesses could lose EU business if there are delays at the border, and about 20 percent will see their EU buyers demand discounts for delays of more than a day.

The organization notes 38 percent of EU businesses have already changed suppliers because of Brexit and up to 60 percent of EU businesses would look to switch suppliers if border delays were to extend to two weeks or more.

Delays are almost inevitable given the more robust customs administration requirements. Today, tractor trailers pass through the UK-EU border without stopping. At the Port of Dover, the UK’s busiest and closest port to mainland Europe, some 17,000 tractor trailers pass through on a daily basis with only about two percent being stopped. After Brexit, almost all of them are likely to be stopped. Even if that stop is only for a few minutes, it’s going to result in a significant backlog of transports.

In short, importers into the UK and exporters out of the UK will need to factor in additional time in transit and set expectations with their trade partners on the other side of the English Channel.

Preparation is Key

Given the shrinking time window for preparation, businesses that haven’t done so already should be working with their trade services partners – carriers, freight forwarders, trade lawyers and consultants and customs brokers – to ensure they’re able to minimize the negative impact of Brexit on their trade activity.

The UK’s official leave from the EU may very well be imminent, or potentially months or even more than a year away, but given the consequences of inaction, getting prepared late is still better than not being prepared at all.

Mike Wilder is vice president of Managed Services at trade services firm Livingston International. He has 30 years of experience in trade compliance. He can be reached at mwilder@livingstonintl.com.

David Merritt is a director in the Global Trade Consulting division of trade services firm Livingston International. He can be reached at dmerritt@livingstonintl.com.

 

 

The post What to Consider when Planning for the Post-Brexit Period appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/global-trade-daily/what-to-consider-when-planning-for-the-post-brexit-period/feed/ 0
Grocery Robotics Change the Pace for Grocers http://www.globaltrademag.com/global-trade-daily/grocery-robotics-change-the-pace-for-grocers/ http://www.globaltrademag.com/global-trade-daily/grocery-robotics-change-the-pace-for-grocers/#respond Fri, 22 Mar 2019 02:46:24 +0000 http://www.globaltrademag.com/?p=87105 Retail grocers including Albertsons, Stop and Shop, and Sedano’s are a few of the brands that have partnered with Takeoff... Read More

The post Grocery Robotics Change the Pace for Grocers appeared first on Global Trade Magazine.

]]>
Retail grocers including Albertsons, Stop and Shop, and Sedano’s are a few of the brands that have partnered with Takeoff Technologies and tapped into its innovative technology to more efficiently fulfill online customer orders.

Through the partnership, Takeoff’s Automated Micro Fulfillment Centers put AI-enabled robots to work to quickly gather and assemble large customer grocery orders, ultimately reducing time and cost compared to manual assembly. It’s reported that these robots can prepare as much as 60 items in a matter of minutes.

“The time is ripe for eGroceries,” said Jose Vicente Aguerrevere, co-founder and CEO of Takeoff. “Grocers have been dipping their toes in eGroceries for years. Now it’s time to jump in with both feet. Our automated, hyperlocal fulfillment centers enable grocers to do so with minimal operational costs.”

The company is encouraging grocers in urban and suburban regions to consider their Micro Fulfillment Centers once launched. These Micro Fulfillment Centers can be made out of existing space and extend market reach through a hub-and-spoke model.

“Takeoff is a win-win for grocers and consumers across the board,” said Max Pedro, co-founder and president of Takeoff. “Our eGrocery automation is a turn-key solution that uses robotics to unlock ultimate convenience for shoppers without need of charging fees or a price premium.”

About Takeoff:

Takeoff is an eGrocery solution that empowers retailers to attain profitable online growth by leveraging automation at a hyper-local scale. Orders are placed online through established retailers (whether using their existing eCommerce platform or Takeoff’s customized UI solution) and Takeoff’s automated technology fulfills the order using robots in Micro Fulfilment Centers.

The company’s robotics technology is proven and ready to deploy thanks to Takeoff’s exclusivity agreement with Knapp, a leading global provider of automated warehouse solutions. By leveraging automated Micro Fulfillment Centers, Takeoff’s innovative model operates at a much lower cost-to-serve than other eCommerce platforms, solving for both the cost of assembling the order and cost of the last mile. This results in savings for both shoppers and retail partners. For more information visit www.takeoff.com.

The post Grocery Robotics Change the Pace for Grocers appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/global-trade-daily/grocery-robotics-change-the-pace-for-grocers/feed/ 0
Supply Chain Summit: Atlanta http://www.globaltrademag.com/departments/datebook/supply-chain-summit-atlanta/ http://www.globaltrademag.com/departments/datebook/supply-chain-summit-atlanta/#respond Fri, 22 Mar 2019 02:05:32 +0000 http://www.globaltrademag.com/?p=87100 The 10th Annual Supply Chain Summit will feature more than 100 educational sessions and four focused tracks including logistics strategy,... Read More

The post Supply Chain Summit: Atlanta appeared first on Global Trade Magazine.

]]>
The 10th Annual Supply Chain Summit will feature more than 100 educational sessions and four focused tracks including logistics strategy, ecommerce, supply chain, and technology. C-level executives and board members already confirmed to speak include Cisco, Radial, SEKO, Tire Hub, Transplace, Land O’Lakes and Expeditors.

From June 10-12, join the more than 800 attendees for an event packed with keynote speakers, networking opportunities with over 200 manufacturers and retailers, and pre-conference workshops.

This year’s event will take place at The Westin Peachtree Plaza in Atlanta, Georgia. Don’t miss the chance to attend the most influential supply chain and logistics movement of 2019 and register your spot here.

The post Supply Chain Summit: Atlanta appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/departments/datebook/supply-chain-summit-atlanta/feed/ 0
Baton Rouge Pipe Manufacturing Plants to Undergo $22 Million Upgrades http://www.globaltrademag.com/global-trade-daily/baton-rouge-pipe-manufacturing-plants-to-undergo-22-million-upgrades/ http://www.globaltrademag.com/global-trade-daily/baton-rouge-pipe-manufacturing-plants-to-undergo-22-million-upgrades/#respond Fri, 22 Mar 2019 01:33:21 +0000 http://www.globaltrademag.com/?p=87092 Family-owned steel pipe manufacturing company, Stupp Corp. announced plans this week for major upgrades to its two northern Baton Rouge... Read More

The post Baton Rouge Pipe Manufacturing Plants to Undergo $22 Million Upgrades appeared first on Global Trade Magazine.

]]>
Family-owned steel pipe manufacturing company, Stupp Corp. announced plans this week for major upgrades to its two northern Baton Rouge manufacturing plants. It’s estimated a total of $22 million is currently being invested as part of the overall expansion project in the region.

“This $22 million expansion is welcome news for north Baton Rouge, for the Capital Region and for the state,” Gov. Edwards said. “To be successful, Louisiana’s energy industry relies on quality products and performance by the oilfield services sector. Stupp Corp. has a long and respected history of providing products and services for the oil and gas industry for many years. As the company looks to improve its efficiency in this competitive sector, this expansion will create 128 good-paying jobs. Louisiana’s positive business climate and our talented manufacturing workforce are helping to make this possible.”

It’s also estimated that a total of 128 new jobs will come from the expansion in addition to retaining the 338 jobs currently in place. The estimated salary for the new job market is currently at $60,567 inclusive of benefits. Stupp kicked off the initial expansion project in October 2018 with the help of LED and LED’s FastStart® state workforce development program.

“We are thrilled that Stupp Corp., a longstanding economic and community partner, has decided to expand their business in Baton Rouge,” Mayor-President Sharon Weston Broome said. “The number of direct and indirect jobs created will add substantial value to our city and reaffirms that Baton Rouge is a great place to grow and build businesses. We were happy to partner with BRAC and lend our support to push this investment over the finish line.”

 “Stupp Corp. has been a part of the Baton Rouge community for nearly 70 years,” Baton Rouge Area Chamber President and CEO Adam Knapp said. “Our team was pleased to help coordinate this project through the decision-making process and is thrilled to celebrate with them today, bringing 128 new, high-paying jobs to the region.”

 

The post Baton Rouge Pipe Manufacturing Plants to Undergo $22 Million Upgrades appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/global-trade-daily/baton-rouge-pipe-manufacturing-plants-to-undergo-22-million-upgrades/feed/ 0
Not Just the Warehouse: How Smart Inventory Management Improves Your Ecommerce Overall http://www.globaltrademag.com/global-trade-daily/not-just-the-warehouse-how-smart-inventory-management-improves-your-ecommerce-overall/ http://www.globaltrademag.com/global-trade-daily/not-just-the-warehouse-how-smart-inventory-management-improves-your-ecommerce-overall/#respond Thu, 21 Mar 2019 06:09:05 +0000 http://www.globaltrademag.com/?p=87088 Once you start using Smart Inventory Management (SIM) in your ecommerce, you’ll notice lots of benefits mostly surrounding inventory control... Read More

The post Not Just the Warehouse: How Smart Inventory Management Improves Your Ecommerce Overall appeared first on Global Trade Magazine.

]]>
Once you start using Smart Inventory Management (SIM) in your ecommerce, you’ll notice lots of benefits mostly surrounding inventory control and workflows. But it can improve some other aspects of your business as well, like marketing, margins, and accounting.

It’s all about data, and this moves far beyond the limitations of preventing out-of-stocks by reordering goods faster. While there are software opportunities, such as using SIM to integrate your warehouse and ecommerce platform to allow customers to see what’s available and shipping times 24/7, we’re looking at bigger business processes that can have an impact on company culture, leadership, and communication.

These are some of the biggest bangs for your buck because they help you keep the business healthy.

Saving money from inexperienced purchasing decisions

One benefit of SIM technology is that you will have up-to-date access to current inventory information. This will prevent the purchase of unnecessary amounts of additional inventory. You will save money by only making purchases you will need.

You are also able to save money by being smarter about how inventory is stored. Locating goods at the proper places within your warehouses or strategically around the country in partner fulfillment locations can save you significantly on the time it takes to ship an order and the cost a shipment takes to reach your average customer.

In the warehouse, SIM helps you move inventory to shelves that reduce walking and movement, making your team faster at getting orders out the door. For partners, SIM can help you track the data you need to get a better understanding of where your customers live and how they shop. So, you’ll be able to select warehouse or fulfillment partners located near to them and provide these locations with the right mix of goods so that they can continually fulfill orders without any risk of running out of stock.

Financial Reporting

Accurately knowing your inventory, storage costs, and more data make it easier for your ecommerce store to understand its overall health. You get a complete snapshot at the expense of goods over their lifetime in your care, especially if you link up SIM with your marketing data.

You get a 360-degree view on each item, including sourcing and production, shipment to your warehouse, storage, delivery to customers, and any returns. You may be surprised to learn what the total margins on your goods are, helping you understand what to promote and sell as well as what products it might be time to phase out of your offers.

Plus, it is in these reports that many companies first acknowledge and get a complete picture of their dead-stock: what never gets sold and just slowly eats away at your overall income.

Give leadership and your accountants the ability to understand the costs of your business entirely and discover what you can best manage and change to maintain a healthy ecommerce offering.

Developing New Sales Opportunities

One reason we really like SIM tools is that they make it easier to track your overall sales and look for patterns. Plus, you can test upsell and cross-sell efforts more easily with all this new data.

Combining your products, through efforts like kitting, allows you to leverage your products for the best return both in the immediate and the long-term. You can sell multiple items together, reduce inventory levels (and related storage costs), and even get rid of things that are sitting on shelves for too long.

Customers like it because it’s convenient for them when the products work together. If you add the right set of products, kits can make your offers more useful, less costly, or start a need to reorder from you. This is common in most industries, and one of the best examples are razors that come packaged with a series of disposable heads. The customer gets the handle and heads together and then has to go back to you to get the next set.

Returns and More

Another area to consider for your smart inventory management system heads back to the warehouse but touches on many of the other elements we’ve discussed: returned goods.

Returns present a significant problem for most ecommerce businesses. You have to figure out how to approve and process the customer’s request, handle the items themselves as they come back to you, potentially repackage and resell these, and eat much of the sale cost even if you’re charging a restocking fee.

Customers returning goods tend to be unhappy and want you to automate as much of this process as possible, and they expect an email from you to include things like a shipping label.

SIM tools can integrate with your order system to generate the information the customer needs automatically. Giving your own shipping labels within an SMI also helps you out by updating your team with package tracking data, so they know what to expect and when. You’re able to manage customer expectations and prep your warehouse, minimizing the disruption.

The same system can also record information from customers about the nature of a return, giving you a feedback loop into product development and sales, helping you adjust based on price, materials, or other information.

We’re seeing a rise SIMs on their own as well as integrated with tools like ERPs because being smarter about your inventory cuts down on costs, keeps your warehouses efficient, and makes it easier to manage your business. It’s time for every ecommerce store to start considering a smarter tech stack that includes inventory controls.

Improve Customer Service

It all comes down to customer service, one of the core differentiators in the world of ecommerce. With so many drop-shipping companies, Amazon sellers, small shops, and global partners, it can be challenging to stand out on product selection alone.

So, one way companies are building a competitive advantage is by developing best-in-class customer service. Inventory management is a core part of this even though it doesn’t seem like it. Inventory management allows you to keep filling orders and even get ahead of spikes in orders that are new or seasonal by giving you smarter business analytics.

When you’re ready to ship immediately, instead of having to wait for a new restock, customers are happier. They also like it when your returns policy and other policies are clear and easy to understand. Greater knowledge of your inventory makes it easier to control those types of concerns, allowing you to simplify any steps your customers have to take.

Run a smoother business and have happier customers just by developing better control of your inventory.

Jake Rheude is the Director of Marketing for Red Stag Fulfillment, an ecommerce fulfillment warehouse that was born out of ecommerce. He has years of experience in ecommerce and business development. In his free time, Jake enjoys reading about business and sharing his own experience with others.

The post Not Just the Warehouse: How Smart Inventory Management Improves Your Ecommerce Overall appeared first on Global Trade Magazine.

]]>
http://www.globaltrademag.com/global-trade-daily/not-just-the-warehouse-how-smart-inventory-management-improves-your-ecommerce-overall/feed/ 0