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Planning for Survival in the New Normal

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3pls, Archives, Global Logistics, Global Trade Daily

Planning for Survival in the New Normal

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With so much having already been written on supply chain disruption over the past eighteen months – beginning with the initial shut-down of production in China, to fascinating tales of toilet paper hoarding, and now to the current inability to get backlogged demand through our ports of entry — I was initially reluctant to add yet another article to the stack. So what changed my mind? There are actually two reasons, which I’ll explain.

First, the problems and lessons learned from the COVID-19 pandemic are now forcing companies to become more agile, reassessing every element of their existing supply chains in preparation for the “new/next normal”. It’s now blank sheet of paper time as previous playbooks regarding sourcing, inventory levels, placement and risk mitigation plans (if they even had one) – together with any supporting infrastructure of people, processes and enabling technology – are being tossed out the window.

And while COVID-19 can be credited as the catalyst for forcing companies to perform these assessments, it doesn’t take a pandemic to bring a supply chain to its knees. In addition to the exposure contributed by single-sourcing key goods or from maintaining lean inventory levels (i.e., “Just-in-Time” versus “Just-in-Case”), designing a more resilient, risk-averse global supply-chain will require the inclusion of a broader list of potential risks to consider particularly when selecting foreign suppliers. These should include geopolitical conflicts, socio-economic factors including labor, crime and corruption, limited port capacity/infrastructure, weather-related disruptions, and even natural disasters (recall the 2011 earthquake and tsunami in Japan).

Take geopolitical risk, for example. The US’s over-dependency on China for products ranging from personal protective equipment (PPU) to rare-earth minerals has made it a growing concern from both a business and a national security perspective. A sobering report by the Hinrich Foundation (“Strategic US-China Decoupling in the Tech Sector”), states that “the China-US geopolitical competition has reached a competitive tipping point and morphed into a new ‘cold war’”, citing an increase in China’s bold hegemonic policies. The report further highlights China’s years of intellectual property theft, growing labor costs, and the more recent special tariffs levied by the Trump administration, as key reasons for an increase in US supply-chains decoupling from China and either moving into more risk-averse areas in Southeast China, near-shoring to Mexico, or even re-shoring to the US.

In an actual side-by-side near-shoring exercise which compared China with Mexico, the advantages quickly fell to Mexico citing a shorter supply chain with fewer physical touchpoints (damage/theft/service fees), lower freight costs, and eligibility for duty-free entry under the USMCA Free Trade Agreement, as well as side benefits that included ease of communication with vendors and the convenience of traveling to vendor sites.

Risk Management Meets Industry 4.0

The second reason for my writing is that there’s another movement afoot that aligns with supply-chain risk initiatives from the position of enabling technology capable of producing even greater resiliency. Labeled as “Industry 4.0”, this next industrial revolution is the result of the substantial transformation that is occurring through the digitization of manufacturing. For context, the first industrial revolution was through the introduction of water and steam power. Steam would give way to electrical power as the second industrial revolution, with the third being born out of the introduction of computers and their ability to automate previously manual tasks. Fast forward to today where the fourth revolution is now further optimizing that automation by connecting computers with smart machines and “disruptive technologies” such as Artificial Intelligence (AI), Machine Learning, Advanced Business Intelligence, Predictive Analytics and Data Lakes, capable of removing humans from decision-making processes, including applications capable of identifying and even predicting risk.

Where Industry 4.0 supports supply-chain risk initiatives is that the 4.0 movement includes the digitization of global supply-chains. This will translate into unprecedented transparency and connectivity across the entire end-to-end order and shipment process where supporting business functions such as Product Engineering, Procurement, Sales & Marketing, Transportation, Trade & Customs and Accounts Payable traditionally operate in respective silos.

For example, take Trade & Customs operations. Its typical placement near the end of the supply chain process, together with a lack of early visibility to international order, has served for years as a recipe for reactive firefighting as shipments become “stuck in customs” upon arrival until data/documentation issues are resolved. Under a digitized model, silos are replaced with connected supply-chain visibility that would allow Trade & Customs’ participation to move upstream to the earliest stages of new product build/buy decisions. As a result, they’re now in a position to proactively contribute critical advice on regulatory issues, import admissibility requirements, duty/tax minimization strategies such as Tariff Engineering, Foreign Trade Zones, Free Trade Agreements or changes in source countries (e.g., avoiding a 25 percent special tariff on Chinese goods by switching the sourcing to Mexico) – all key factors capable of removing cost, risk and time from their supply-chain.

If you’re currently building a business case to launch your own risk initiative, an interesting report from McKinsey & Company (“Resetting Supply Chains for the Next Normal”), might give you some additional support. For instance, in their survey of 60 senior supply-chain executives across industries and geographies, 85 percent responded that they struggled with insufficient digital technologies, 93 percent plan to increase resilience across the supply chain, and 90 percent plan to increase digital supply-chain talent in-house needed to support that new technology. In short, you’re not alone.

Whether your current project is to address the exposure from disruptions to your supply chain or to digitize the entire enterprise as a result of the increasing disruption caused by technology-driven innovation, what’s becoming clear is that companies will be forced to become agile and adaptive — able to change business models at unprecedented rates of speed in order to survive and thrive in the “new/next normal.”

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Jerry Peck is the Vice President of Product Strategy at QAD Precision, with over 30 years of experience in Global Trade Management. His career has uniquely encompassed nearly every facet of GTM, including third-party logistics, trade operations within Fortune 300 multinationals, and professional services consulting firms.

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3pls, Archives, Global Logistics, Global Trade Daily

THIRD PARTY LOGISTICS FIRMS OFFER BENEFITS TO THOSE OPERATING IN FTZs

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Companies involved in the import of global products into the U.S. and considering the utilization of a foreign trade zone (FTZ) in their business may want to consult with a third-party logistics firm to get an in-depth look at what access to an FTZ may mean for them—and what a 3PL could offer in terms of benefits and efficiencies while operating within an FTZ.

According to U.S. Customs and Border Protection (CBP), FTXs are secure areas under the agency’s supervision that are generally considered outside CBP territory upon activation. Located in or near CBP ports of entry, they are the U.S. version of what are known internationally as free-trade zones.

Imported products can be brought into the country through an FTZ and no duty is paid on these products until they are moved to their U.S. destination. Products can sit or be warehoused in FTZs for lengthy periods and if it is determined these products are no longer required, they can be returned without duties being paid.

“Most importantly, the FTZ program is a U.S. government program-driven around compliance and is unique in that it covers the full supply chain,” says Trudy Huguet, senior director of FTZ Product at GEODIS in Americas, in an interview.

An international firm with a strong North American presence and operations, GEODIS is a logistics company that offers services in several lines of business: supply chain optimization, freight forwarding, contract logistics, distribution and express, and road transportation.

Huguet offered that the expertise of the 3PL that offers foreign trade services has many benefits but, most importantly, they usually can serve on compliance and efficiencies. For instance, she noted a 3PL may have better access “to operational systems and data flow that is needed for multiple systems to run an FTZ” or systems integrated with a foreign-trade zone system. She said a 3PL may also be able to serve certain shared costs with the availability of facilities such as warehousing, as an example.

“3PLs are driven by customers’ needs, like customization and square footage, along with services, staff and team members to run that FTZ for them,” she said.

Addressing a company’s needs is extremely important, in or prior to a peak holiday season, said Huguet.

She noted that many years ago companies used to administrate their own zones but that meant the expertise had to be in-house, necessitating the need to cross-train employees. However, by contracting with a 3PL, “those risks with these programs go away,” Huguet said.

GEODIS has molded programs to fit customers’ needs “so we will work with customers to determine how they can get the biggest bang for their buck,” and where they can find the greatest savings within the FTZ, she said.

Because the U.S.a U.S. FTZ is a sister program to the global free-trade zone, “We are unique in regulations and how we operate and very strong in compliance and most industries and manufacturers, producers and distributors,” Huguet said. “If they are importing into the U.S., they have the opportunity to benefit from this program.”

Getting involved in an FTZ is “kind of a three-stage process” that, Huguet says, involves consultation with the FTZ board where designation is obtained. Activation with local customs and security is followed by building the operational side of the FTZ to run parallel with in-house systems.

Paul Killea, senior vice president of Freight Services Compliance & Security in Americas for GEODIS, oversees import and export compliance for the U.S., Canada, Mexico, Brazil, Chile, Argentina and Colombia, in addition to running an FTZ product. He stressed that “compliance is very big part of the FTZ.”

“Compliance is the process of ensuring that all of our services and our customers’ services are performed in a compliant manner and adhere to all (government) regulations” in and out of the U.S., Killea says. “So, we are responsible to ensure that we have the right processes in place, the right tools for auditing and reporting and in doing so, create visibility to outside parties, specifically the government and our customers, to show them we are compliant.”

GEODIS provides an array of services such as air freight, ocean freight, warehousing and trucking, and the 3PL has a top goal to be compliant itself and to make sure its customers are, too. “First and foremost, GEODIS has to be compliant but obviously we need to make sure our customers are compliant as well. It is a global principle we hold in high regard at GEODIS,” he says.

Strong compliance would definitely be beneficial to a company looking at the benefits of a 3PL with access to FTZ, he noted.

On the security side, GEODIS has a team that manages various aspects of security. The company is a member of Independent Air Carriers and freight forwarder that adheres to the U.S. Transportation Security Administration regulations. The company not only transports air freight, “we are also a certified screening facility in six locations,” Killea notes. “So, my team manages all of that air freight security which is also beneficial to clients.”

Huguet points out that more companies are becoming interested in FTZs “so what we have seen are more companies trying to improve their supply chain dealing with all the various supply chain challenges and bottlenecking with merchandise. Everyone is looking for a better solution and FTZs will help with that.” 

In addition, they can assist with some of the governmental trade issues that have been put into place, such as dealing with China.

Challenges created by the COVID-19 pandemic and port congestion have created issues for companies that 3PLs with access to FTZs can assist with, such as creating additional warehousing within the FTZ to store products longer.

“Because of port congestion and because of COVID, merchandise is sometimes being delayed and not moving as quickly as it should,” Huguet concedes. “The FTZ program has certainly helped.”

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Archives, Global Logistics, Ocean Carriers

LOOKING BACK WITH 2021 VISION: NAVIGATING THE EVOLVING OCEAN LOGISTICS INDUSTRY

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Nearly every business has experienced the effects of today’s global supply chain disruptions over the course of the COVID-19 pandemic, including product delays, shortages and rising costs. Pandemic-related challenges that were expected to be temporary are now predicted to last well into 2022—and potentially beyond.

The ocean freight industry has arguably shared the spotlight the most due to record-breaking prices, port congestion, container shortages and more. The average price worldwide to ship a 40-foot container has more than tripled from the beginning of 2021 and is 10 times pre-pandemic rates. Only a few months ago outside two of the biggest ports in the U.S. near Los Angeles and Long Beach, California (which manage 40% of all cargo containers entering the country), more than 70 vessels waited to dock. Before the pandemic, it was rare to see more than one.

Given today’s complexities, it’s important we examine the key 2021 learnings from the ocean logistics industry to incorporate lessons learned as we prepare to navigate the year ahead.

Lesson 1: Embrace Flexible Shipping Routes

As capacity shrank, container ships experienced record times to dock and labor shortages backlogged the unloading of cargo, 2021 highlighted that flexibility is key to a successful shipping strategy. For 3PLs and freight forwarders, this meant adapting plans in real time to manage limited resources in the most strategic way possible according to each customer’s specific product and goals.

For some large retailers and automotive manufacturers, for instance, we witnessed growing shifts from ocean to air cargo as an alternative. While air freight ensures a faster and more reliant shipment of goods, it is also a much more expensive option. According to Freightos, a $195 ocean shipment can comparatively cost $1,000 via air. Because of these major price discrepancies, we have largely seen the trend of shifting from ocean to air routes among big-box retailers and manufacturers of premium goods that can absorb the higher rates.

However, shifting from ocean to air is not feasible for most brands. Instead, flexibility in 2021 also meant pivoting to different ocean routes. Throughout the pandemic, many countries have closed or limited capacity at key shipping ports for reasons like worker shortages or limiting the spread of the virus. This presented 3PLs and freight forwarders with the opportunity to explore less traditionally traveled sea routes to try to mitigate delays. For example, closures in Australia due to COVID-19 significantly decreased capacity from the United States. As a result, some forwarders successfully rerouted to Singapore and finally to Sydney as a solution.

In 2021, we also increasingly saw shippers embrace a hybrid sea-air model. While transitioning wholly from ocean to air isn’t viable for most, shippers did strategically tap into air to move critical inventory to keep operations running smoothly on an as-needed basis. Ultimately, 2021 taught us that flexible, real-time adjustments to supply chain routes based on the current environment and each customer’s strategic goals is crucial to best navigate backlogs.

Lesson 2: Explore Agile & Visible Solutions

While the ocean freight industry has always experienced unplanned challenges beyond its control, such as severe weather, the impacts of COVID-19 have only exacerbated these preexisting issues. Now, it is more important than ever that shippers explore creative solutions to mitigate the effects of today’s both expected and unexpected challenges.

For example, in 2021, we saw the growing trend of major retailers and 3PLs chartering their own shipping vessels to combat capacity issues. Coca-Cola began chartering vessels typically reserved for raw goods like coal and iron to instead use for finished goods. Retailers such as Walmart explored chartering smaller container ships to dock at smaller ports to help side-step congestion. Also chartering vessels more and more were 3PLs seeking to guarantee capacity for clients in an ultra-tight sea freight market. While in the past this has traditionally been viewed as risky due to cost and capacity, chartering vessels became a creative solution for many this year to supplement carrier agreements.

For other shippers, particularly those unable to charter their own vessels, freight consolidation services became especially vital in 2021. Many brands leveraged Less than Container Load (LCL) services for reasons like the need to ship smaller and less-sensitive products on a more ad-hoc basis to keep up with fluctuating e-commerce demands. Partnerships with 3PLs became even more important thanks to fixed sailing schedules with space across all major routes, steady cargo volume to consolidate orders, and competitive rates and conditions.

This year also reinforced that incorporating sophisticated visibility technology into operations is imperative for maneuvering supply chain challenges. A 24/7 freight management application allows for real-time tracking and tracing and full control over shipments. Incorporating the latest visibility technology provides critical data across every stage of the supply chain—from tracking fluctuating customer demands to updates on freight in transit—to empower real-time, data-driven decisions. Visibility has proven to be particularly important during the pandemic to mitigate unforeseen disruptions by rapidly adjusting resources and strategies.

Lesson 3: Adjust Your Supply Chain with New Resources

The pandemic underscored just how critical it is to partner with supply chain experts amid times of severe disruption. In fact, a recent study predicts strategic relationships between shippers and 3PLs will increase from 28% to 45% over the next five years due to the effects of COVID-19.

There are several reasons behind this shift from transactional to relationship-driven partnerships between 3PLs and customers. First and foremost, a partnership with a skilled 3PL allows shippers to outsource supply chain management so instead, they can focus on their core competencies. Shippers found that working with a 3PL during the pandemic, when business decisions changed daily based on the fast-changing environment, was particularly significant in order to focus on running efficient operations. Deemed an essential service during the pandemic, 3PLs were also able to keep supply chains moving and businesses running.

Additionally, 3PLs are able to offer real-time adjustments to shipping strategies based on the current environment. Utilizing an international network across all modes of transportation, global 3PLs are equipped to provide comprehensive, 360-degree recommendations across the supply chain to source the best possible solution. For many businesses during the pandemic, demand was unpredictable and ever-changing. An advantage of partnering with a 3PL is its ability to quickly and easily scale operations up or down based on demand so customers can run their businesses most efficiently. With a massive network of transportation carriers, including vessels, planes, trucks and rails, 3PLs can tap into their strategic partners to best source capacity even during strained environments.

As we look ahead to 2022, it is important we learn from the ocean logistics challenges of the past year as these issues are not expected to end anytime soon. Because of this, it will be increasingly vital that businesses emphasize flexible and agile shipping strategies and relationship-driven, third-party partnerships to best navigate what is to come.

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Joshua Garee is vice president of U.S. Ocean Product at GEODIS in Americas. Previously the vice president of Operations at PAC International Logistics, Garee has a proven record of growing organizational talent and implementing innovative solutions through key leadership, best practice, strategic planning, continuous improvement, financial planning and cost management.

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Archives, Global Logistics, Global Trade Daily, Trucking

Six Big Trends in Cross-Border Logistics for 2022

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As we look back on the year, the supply chain and logistics industry received more attention than ever before as it faced a myriad of challenges and circumstances. As we look towards 2022, here are some of the top trends and priorities to keep an eye on in the year ahead from Nuvocargo, the first digital freight forwarder and customs broker for US/Mexico trade.

Platformization and integration of data across the whole supply chain. The pandemic pushed the adoption of digital platforms lowering the friction to try new solutions that will drive migration from informal and manual communication platforms to specialized products that make their workdays more “automagical” by providing one source of truth and higher visibility. According to a report by Alloy Technologies Inc., 92 percent of executives agree supply chain visibility is important to success, only 27 percent have figured out a way to achieve it. This means, we may see a shift from discrete software to manage specific use cases (TMS and warehouse software) to platformization and integration of data across the whole supply chain, which will increasingly make operations smoother and companies more competitive. To achieve this, blockchain technology can be used to integrate all supply chain components in one platform and offer more transparency in the process.

Vetting suppliers and vendors based on resilience and adaptability.  With digitalization revolutionizing the logistics industry and bringing about more efficient processes, information exchange and visibility, we will see the industry shifting into a careful selection of partners based on their technological aptitude and insights. This will strongly be the case for Mexico since new tax regulations are forcing companies to adapt and optimize their processes in order to comply. Smaller carrier companies will struggle to comply with requirements when dealing directly with clients without the technical infrastructure of brokers. The accounting team of every logistics company will be put to the test and the ones that manage to leverage efficient and automated processes will avoid the crisis of on-time compliance for every shipment. From that angle, staying competitive will require a stricter filtering system of logistics partners and suppliers.

Regionalization of supply chain and nearshoring.  Organizations have been impacted by COVID-19 supply chain disruptions which have led companies to find suppliers closer to home to reduce costs and be less affected by more complex logistics or uncertainties. McKinsey’s report on the coronavirus effect on global economic sentiment says that uncertainty over COVID-19 is no longer executives’ foremost economic worry. Instead, they perceive the mounting fallout on the supply chain and inflation as the biggest threats to growth in their companies and economies.’ “Companies have learned the importance of being agile, adapting and solidifying to be able to thrive in volatile and unpredictable environments. That includes a restructure of the business core, technological implementation, regionalization, partners, etc.,” says Anaid Chacón, Head of Product of Nuvocargo. “Businesses have already started implementing new strategies over their supply chains and we can expect these shifts to continue in the coming years.”

Creative and technological solutions to address driver shortage. Delayed delivery is the accumulation of many factors. According to the American Trucking Associations (ATA), in order to keep up with the current economic demand, more than a million truck drivers will have to join the industry. In 2022, we will see how the industry fills this need by tapping into talent from other areas or demographics with previous low representation among drivers. A 2019 US Department of Transportation report states that 28 percent of the current heavy truck driving workforce will be 65+ years in the next decade. This means that the industry will have to promote and offer more benefits to younger people and women since the current average US truck driver is 48 years old. We may also see solutions based on process automation or self-service systems for customers to deal with these labor shortages. Autonomous trucks are also on the rise since large transport lines are starting to buy and test efficiency and costs.

Innovative financing solutions for the supply chain. Continuously offering partners alternatives that will help finance their operations and improve their cash flow will benefit all parties in terms of incrementing capacity and in keeping the supply chain moving. “Our data collection and experience has taught us the pain points of our partners who have high expenses, get paid 30 to 60 days after delivering shipments, and often need loans with high fees to continue operating,” says Chacón. “This is an industry-wide condition that requires attention if we wish to continue strengthening and growing the industry. Financing is one of the solutions to cash flow unpredictability that is required to respond to demand spikes.”

Greener supply chains.  Logistics and transportation companies are pushing environmental efforts to make their supply chain less invasive or harmful. This may include eco-friendly warehouses with advanced energy management systems, climate-smart supply chain planning, etc. We can expect these initiatives to continue rising and becoming more sophisticated over time.

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Archives, Global Logistics, Warehousing

Information Systems: The Foundation to Supply Chain Automation and Digitization

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At Generix Group, we know that information systems are the foundation to a supply chain’s automation and digitization. However, many companies still lack them, either because they see their implementation as a complicated challenge, or because they are unaware of service companies that can help them, or because they believe the costs of such services are prohibitive.  

For that reason, we wanted to interview Ignacio García, Sales Director at Generix Group Spain. Thanks to his extensive experience in these matters, Mr. Garcia is in a great position to help and guide companies select the technology solutions best adapted to their requirements and available capital

Why is it so important for companies to invest in good software? And why should they see it as a source of savings?

A supply chain is made of various segments, from transportation to warehouses to relationships with suppliers, etc. All these segments are like a company’s organs. For the entire body to move efficiently, the health of each organ is key – and this is becoming increasingly true. The markets’ evolution, both in the consumer market, with the rise of eCommerce, and the industrial market, where the pressures on manufacturing activities are felt more and more, increases the need for better logistics capabilities every day. Today, it is simply impossible to meet these demands without the right tools. It’s not just a question of savings, which these solutions will indeed achieve, but a question of survival in the medium term. Management solutions (WMS, TMS, VMI, EDI, etc.) not only lead to significant productivity improvements and savings, but they are also essential to a company’s ability to respond to market demands.

What solutions do you recommend for real time control and visibility in the transport and warehousing segments: inventory management applications, breakdown, or downtime alarms…?

Achieving visibility over your supply chain can be compared to building a house: you must first lay solid foundations on which to build. In this case, it’s all about having the right management tools from which to extract information from your supply chain. That’s the first step on the way to optimizing an operation’s processes. The pillars of supply chain visibility are a specialized WMS in all warehouses, a transport management system (TMS), and an order management system fully integrated with the customers’ and suppliers’ platforms through EDI or purchasing portals.
Once these pillars are in place, you can build. Platforms such as Generix collect all the information and make it easily available to every agent in the chain, from suppliers to end customers. That enables companies and their management to view the status of their orders from suppliers, monitor an order’s progress through the warehouse, and remain informed of transport status with all the relevant information: status, dates, quantities, etc. The operational benefits are obvious, especially where service levels and quality are concerned.

How do you assess the current market situation? How well implemented are these technologies in supply chains, to what levels?

We’re now used to seeing that kind of interface in the consumer goods industry, where companies can easily consult their status order. More and more, we’re also seeing it in more industrial sectors. There’s a variety of very interesting examples that range from the purchase and delivery planning of reinforced concrete, where concrete mixers can be traced from beginning to end, to industrial manufacturing sectors: automotive, heavy equipment, aeronautics, etc.

In the direct-to-consumer sector, we can safely say that these solutions are widely implemented. However, these typically focus on the final part of the logistics flow, which means that there is still a lot of room to improve visibility with suppliers, transporters, etc. Lately, that’s where we’ve been seeing the most interest from the market.

One last note on this topic: the pandemic and the resulting problems and tensions we’ve seen in maritime transport have highlighted the importance of resilience and visibility for supply chains. In the coming years, this will bring a shift in focus where these technologies – together with strategies for the diversification of suppliers, the elaboration of contingency plans, etc. – will be seen as a necessary tool to gain the flexibility and security needed in the face of such events.

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What projects are you currently working on?

The projects we’re seeing the most these days are platforms that combine transport tracking, integration with carriers, stock visibility (inhouse or at suppliers), procurement, and the likes. And that, in a variety of industries and in different segments of the supply chain. There’s far too many to list, so let me try to give you a sample of the most noteworthy – as most of them are consumer transport visibility projects, I’ll concentrate on other examples that I think are particularly interesting.

Manitou is a good example. They are a global manufacturer of forklifts and they’ve recently launched a visibility platform for their entire supply chain. It encompasses suppliers and manufacturing facilities around the globe and provides visibility to its entire sales network and customers over available stocks as well as on the delivery dates of new equipment.

Another very interesting project is the platform that was implemented by a leading water management company. They had two main objectives. First, they wanted to facilitate the work and planning of its infrastructure maintenance teams. Second, they wanted to enable their teams to respond more efficiently to urgent breakdowns. Thanks to their new platform, they now have global visibility over their stock of parts, both in their different warehouses and at their suppliers of construction material, which enables them to rapidly relocate their inventory in the event of urgent breakdowns. It also facilitates procurement processes, which drastically reduces its global stock. Thanks to better stock management, that company is enjoying significant savings and has drastically improved work execution, which leads to far better response times and efficient incident resolution.

Generix Group North America provides a series of solutions within our Supply Chain Hub product suite to create efficiencies across an entire supply chain. Our solutions are in use around the world and our experience is second-to-none. We invite you to contact us to learn more.

This article originally appeared here. Republished with permission. 

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Archives, Global Logistics, Global Trade Daily, Warehousing

Four Real-World Stories of How Generix WMS Creates Efficiency and Productivity

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Organizations focused on long-term growth strategies use digital transformation initiatives as a driving force for success. Technology investments have enabled organizations to improve processes and automate operations to find productivity and efficiency gains. A good WMS provides real-time inventory visibility for manufacturers and distributors and creates new efficiencies within inbound, warehousing, manufacturing, and outbound processes throughout a warehouse or plant.

SOLOCHAIN WMS is used by organizations in various industries (food, retail and consumer goods, manufacturing, and more) as a platform for growth and operational excellence. This blog post shares four success stories from customers who implemented SOLOCHAIN WMS to transform their operations and facilitate growth.

WMS gives granular control and recovers 35% in lost efficiencies

As a grower-owned network of family hops farms, Yakima Chief Hops required complete traceability, control, and visibility into their finished products from farm to kettle. The company was experiencing lost inventory and customer allocation challenges. The implementation of SOLOCHAIN WMS allowed Yakima Chief Hops to:

-Stabilize customer allocations with all inventory movements

-Track inventory and its movement in real-time

-Attain complete lot traceability and enable recall management for different finished products across the manufacturing process

-Increase accuracy with quick data entry using QR codes that stored multiple data points on the same barcode

-Improve shipping lead times by multiple days and 24-hour turnaround for eCommerce orders

-Automate processes and dramatically reduce paper usage with scan guns

-Realize a net gain of 83,861 cartons that were not required to be transferred before shipping out to customers

Through the WMS, Yakima Chief Hops achieved their visibility and safety goals and delivered the quality of service they strived for to their customers.

WMS increases productivity by 30% in less than a year

With 18,000 UPCs, 4,500 orders per day, and 22,500 pick lines in a single distribution center, Novexco, a national distributor of office supplies, needed to optimize operations across eight distribution centers to support its business model and allow them to compete with online retail giants. The implementation of SOLOCHAIN WMS provided Novexco the ability to:

-Successfully integrate SAP ERP for better inventory visibility and management at all stages of the process across Canada

-Manage all orders from retail stores, B2C, and B2B customers and track product and model numbers in each warehouse for quality assurance and returns

-Optimize and standardize processes that saved time, reduced human handling and human error, increased picking quality, and reduced non-essential warehouse travel

-Decrease backorders with better inventory visibility and forecast demand with access to real-time data

-Enabled faster delivery to customers and multi-site communication between distribution centers

Novexco can now guarantee next-business-day delivery in most regions in Canada and has seen a 30% increase in productivity in less than a year after implementation.

WMS doubles output capacity to support growth initiatives

Blue Streak Electronics, a supplier of remanufactured electronics and diagnostic solutions to vehicle manufacturers, decided to cut ties with their 3PL provider and build and open a new distribution center in less than four months which required the rapid deployment of a WMS. Exceptional inventory management and quality control were essential with a vast dealer network and a rapidly expanding eCommerce business. The implementation of SOLOCHAIN WMS enabled Blue Streak Electronics to:

-Gain real-time visibility and better order and inventory accuracy to support eCommerce growth

-Achieve substantial month-to-month operational performance gains

-Have real-time task management and transparency with SOLOCHAIN Back-Office project management system built into the WMS

-Meet the tight deadline with ease of configuration with Microsoft Dynamics Nav ERP and integration with ProShip for small parcel solutions

Blue Streak went live with the WMS in January 2020. Since then, the company has doubled its output capacity.

WMS enables 50% total sales growth and a 200% increase from eCommerce

Cameron’s Specialty Coffee, a coffee roasting, packaging, and distribution company, relied on paper-based processes in their warehouse operations. With the growing demand for eCommerce options and food traceability regulations, the company needed to change its inventory management operations. The implementation of the WMS transformed the business providing it the ability to:

-Remove paper-based processes and now manage every step in the process from roasting, flavoring, grinding, and packaging within the WMS+MES

-Achieve 99.5% inventory accuracy and increase order fulfillment to 99.3%

-Decrease cycle count downtime by eliminating the weekly shutdown period

-Report faster and close month-end sooner due to real-time data transmission into the ERP system

-Create mobility in the warehouse with handheld devices and run more production lines

-Address customer compliance requirements (Walmart, Target, Menards, etc.)

-Enter multi-stage production data into CRM to consider operation particularities to reduce waste and re-route production as needed.

The 50% growth meant that Cameron’s Specialty Coffee had to enlarge its warehouse space by more than 25% between 2018 and 2020. WMS and MES allowed the company to scale its operations in line with its growth without increasing headcount in its finance department.

As the only combined WMS/MES in the Gartner Magic Quadrant for WMS, SOLOCHAIN WMS delivers full-featured functionality that can address and integrate complex processes between the warehouse and the shop floor to scale operations and find new efficiencies and productivity improvements. Learn more by downloading the Gartner Report today.

About Generix Group

As omni-channel driven demands become the norm, with resulting customer satisfaction harder to achieve, supply chain professionals need to leverage advanced WMS technology to keep their operations nimble, efficient, and scaling – especially in these volatile times.

Given Generix Group’s completeness of vision and ability to execute, as recognized once again by the Gartner analyst community, their WMS is well-positioned to help companies needing a modern, flexible and agile solution that can easily adapt to their changing needs. We invite you to contact us to learn more.

This article originally appeared here. Republished with permission. 

inventory
Archives, Global Logistics, Global Trade Daily, Warehousing

Top 3 Performance Indicators to have in an Effective VMI

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To ensure effective inventory management, a supplier must have quality Vendor Managed Inventory (VMI). But how do you evaluate such software before purchasing and implementing it? What metrics should you look for?

Inventory Management

In a buyer/supplier relationship, the retailer and vendor are often jointly involved in inventory management, an approach called collaborative supply management. In the context of VMI (Vendor Managed Inventory), the delivery of goods to warehouses and stores is the vendor’s responsibility – they are required to deliver goods based on customer needs.

To successfully manage supply operations and ensure good processing speed, suppliers must keep track of their inventory levels. By getting up-to-date data on stock levels in warehouses and stores, suppliers can cover demand for goods and prevent costs and shortages.

The objective/goal: To have the right amount of goods at the right time, thanks to an adequate assessment of needs.

Demand Forecasting

For the most accurate supply management, suppliers make their forecasts based on the preliminary trends that VMI generates. To improve efficiency, the management tool should quickly and easily forecast demand. Additionally, the tool should provide the ability to check the reliability of the forecast at the end of the cycle (day, week, month) to assess future supplier needs.

For example, the software has predicted that customers will have demand for 200 security lockboxes. At the end of the cycle, we should be able to verify that all of the predicted items have been sold.

The objective/goal: Make the necessary changes in the next delivery cycle so that we don’t have to rely on chance.

Service Rate

Typically, retailers use a collaborative inventory management model when they intend to achieve an optimal service rate.

The objective/goal: no shortages and always meet store demands.

By sharing inventory management responsibilities, retailers aim to meet store demands while reducing inventory. Therefore, to optimize service rates, suppliers must be prepared to ship items coming in from different delivery points every day.

In a vendor-controlled supply chain model, a quality VMI solution is a key element in ensuring effective collaboration between all parties in the relationship. Only with fine-tuned inventory management and reliable demand forecasting is it possible to achieve optimal service rates. Which is simply necessary to build a successful vendor-implemented inventory management model.

Generix Group North America provides a series of solutions within our Supply Chain Hub product suite to create efficiencies across an entire supply chain. Our solutions are in use around the world and our experience is second-to-none. We invite you to contact us to learn more.

This article originally appeared here. Republished with permission. 

telematics
Archives, Global Trade Daily, Software

What Contractors Need to Consider When Purchasing Equipment Telematics

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Telematics can be an invaluable tool for contractors who want to track and monitor key assets more effectively, like heavy equipment and vehicles. The rise of smart technology and other Industry 4.0 tech has made these systems more accessible and powerful, encouraging contractors to invest.

However, implementing telematics can be costly and time-consuming, and not every system will provide the specific benefits a fleet owner or logistics professional needs. Knowledge of these factors will help any contractor make more informed decisions when purchasing telematics for heavy equipment.

Feature Considerations

System features are one of the most important factors for contractors wanting to purchase telematics equipment. Not all providers offer the same options, and pricing for equipment and devices can vary significantly depending on what a particular contractor needs.

More complex telematics systems can also be more expensive to purchase and maintain. If a contractor just needs the ability to track assets in real-time, functionality beyond GPS- or RFID-based tracking may make the system more expensive while not providing much additional value.

These are some of the most common telematics systems and the ones a contractor is most likely to need:

1. Real-time location tracking: Most systems offer GPS-based tracking that allows fleet managers to monitor the location of assets in real-time.

2. Alerts: Automatic notices trigger when customizable conditions are met — like assets moving after work hours or faster than local speed limits or scheduled maintenance alerts.

3. Asset and driver data reports: In addition to real-time reporting, most systems will also offer reports or dashboards that sum up recent events and patterns of usage. Contractors can use this information to track driver behavior, asset performance or machine health.

4. Asset diagnostics: Telematics systems can integrate directly with important vehicle or asset systems like engine control units (ECUs), providing them with access to data from sensors and monitoring devices. This allows the system to provide important information on vehicle health and performance to system owners — alerting them automatically when faults are detected or maintenance is needed.

5. Customer service: Dedicated customer support lines provide assistance with telematics system operation, troubleshooting and maintenance scheduling.

The specific data points that asset telematics will track can vary from system to system. Providers may offer monitoring for a wide range of data, including information on seatbelt usage, emissions, dashcam footage, fuel consumption, fuel efficiency, idling and performance.

Selecting a telematics system that offers the features a contractor needs will help them avoid overspending or selecting one that isn’t a good fit.

Contractors should also consider synergy and integration with existing technology. A business that takes advantage of IoT monitoring may want to investigate how the two systems could share data or be configured to supply information to the same dashboard.

Businesses that take advantage of digital twins may want to investigate how additional data provided by telematics may allow them to more accurately model construction sites, buildings or business operations.

Purchasing vs. Renting Telematics for Fleet Management

Often, telematics providers offer the option to either purchase or rent the equipment. While buying a system comes with some advantages — permanent ownership of the hardware and more control over telematics maintenance — renting may be a better option for some contractors.

As with construction equipment, renting can be an effective way to close asset gaps that emerge when systems fail, require maintenance or need replacement.

Suppose a rented telematics device stops working or needs maintenance. In that case, a contractor may be able to more easily procure a replacement or even request one from their provider while the rented equipment is being repaired.

Professional vs. Self-Installation

If a contractor isn’t purchasing new equipment with telematics systems that come pre-installed, they, their team or a third party will have to connect it to each asset they want to track.

This installation process can be involved and time-consuming. Any mistakes the contractor makes can negatively impact the telematics system’s performance or damage components.

Also, the asset in which the telematics system is being installed will be unavailable during this time. Troubleshooting can cause it to be unavailable for longer.

Professional installation is generally less risky but will be more expensive. The cost will typically depend on the system’s complexity, the number of vehicles or assets, and the contractor’s location — installation service rates can fluctuate significantly from region to region.

As with self-installation, the contractor will also need to prepare for significant downtime and loss of productivity while the system is installed.

A professional installer can likely work faster than someone without telematics experience, but all installations will take time.

Equipment Telematics System Security

The growing threat of cybercrime means contractors should also consider how telematics may make their businesses less safe. These systems generate so much data and are typically connected with other essential components, making the overall network more challenging to secure.

Contractors should consider how they’ll keep their telematics secure and how their provider addresses safety issues.

When shopping for a new telematics system, contractors should ask about the importance of security in the provider’s design process. They should also ask about how data is kept safe at the device firmware level, while it’s in transit and when it’s stored in the cloud.

Contractors should also ask about the steps they can take to keep their telematics systems and business networks secure. Providers may be able to help end-users configure them in a way that protects these systems from an attack.

Keep These Considerations in Mind When Buying Telematics

The potential benefits of a telematics system make the technology a good investment for contractors. However, not every one is the same. Varying features and payment options mean companies should carefully consider available offerings.

Contractors wanting the simplest and cheapest system should consider a rented telematics solution that primarily offers GPS tracking. Businesses in need of analytics, behavior tracking and other complex solutions may need more expensive systems. Researching needs and options before investing in telematics will ensure the system is the right choice.

financial
Archives, Banking, Global Trade Daily, International Trade

How Executives Can Increase Their Company’s Financial Efficiency

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As the world becomes increasingly interconnected, opportunities for logistic companies expand. While this is good news, it also means competition within the industry is rising. If supply chain businesses want to stand out from competitors, they must increase their financial efficiency.

Many investors and potential business partners use financial efficiency metrics to determine a company’s economic health. Consequently, financially inefficient businesses may miss out on valuable strategic opportunities. Partnerships and investment aside, an efficient company is a more successful one.

Here are seven ways executives can increase their company’s financial efficiency to attain these benefits.

Automate Back-Office Tasks

Most businesses have repetitive, manual tasks that take time away from more valuable work. According to one study, more than 40% of workers spend at least 25% of their time on these tasks. Since these inefficiencies are so common and so impactful, automation can bring considerable rewards.

Many of these inefficiencies are in back-office operations like data entry, scheduling, and approvals. These tasks are also easily automatable through robotic process automation (RPA) solutions. By implementing these tools, companies can free their employees to focus on other, more important work, accomplishing these goals sooner.

RPA is also often faster than humans at these repetitive tasks. As a result, companies will improve the efficiency of these back-office processes as well as the more valuable manual operations.

Increase Fleet Visibility

Another common source of financial inefficiency in logistics companies is a lack of visibility. Fleet operations are prone to disruption, and when businesses can’t predict or see them as they unfold, these disruptions can have far-reaching consequences. In contrast, increasing visibility can help respond to developing situations faster, minimizing delays and costs.

Many companies now track fleets with GPS systems, but businesses can go further, too. Internet of Things (IoT) sensors can monitor and communicate data like location, driving patterns, maintenance info, and product quality in real-time. With this timely information, fleet managers can see issues as they arise, leading to quicker, more effective responses.

Faster reactions lead to better customer service, less disruption, and sometimes avoiding serious delays entirely. Businesses’ financial efficiency will rise as a result.

Address Accounts Receivable

Accounts receivable turnover is one of the most popular metrics for financial efficiency, so businesses should strive to collect debts as quickly as possible. In the delay-heavy and prone-to-disruption world of logistics, that can be complicated. However, a few options can help.

One way to improve this ratio is to provide multiple payment methods for clients. This allows customers to use whatever best suits their needs, leading to quicker reactions from them. Similarly, payments will be faster when customers can use a process they’re already familiar with.

Another way to improve accounts receivable turnover ratios is to employ automation. Automated billing, reminders, and processing services are abundant today and can streamline the process for both companies and their clients. Employing these solutions while providing multiple payment methods will ensure businesses collect outstanding payments as quickly as possible.

Refinance or Consolidate Outstanding Debts

Outstanding debts are another common obstacle to financial efficiency. Having debts is normal for a business, but that doesn’t mean companies shouldn’t continuously reevaluate their loans. Periodically addressing these to see if there’s a way to refinance or consolidate them can help cultivate financial agility.

Many logistics companies may have outstanding vehicle loans, for example. These ongoing payments can easily fade into the background, but refinancing them can save $150 per vehicle per month in some cases. That seemingly small change frees up extra monthly revenue that companies can then put towards something else.

Alternatively, some companies may want to consolidate some of their debts. Doing so can make it easier to manage them and lower interest rates. Businesses may then be able to pay them off sooner.

Improve Cross-Department Communication

One aspect of the business that may fly under the company’s radar is communication between departments. When things get lost in translation moving between teams, it can lead to mistakes or take more time to achieve the desired goal. These mistakes and delays hinder financial efficiency, so improving communication can increase it.

Communication barriers cost $62.4 million annually in lost productivity on average. Consequently, companies should strive to remove barriers to effective collaboration, especially between different departments. Using collaborative software, holding frequent meetings, using instant messaging apps, and similar steps can do that.

When teams can communicate efficiently, confusion-related errors will decrease. Similarly, cross-department projects will have shorter completion times thanks to easier collaboration.

Reorganize Inventory

Inventory turnover is another aspect of financial efficiency to address. The longer items sit in warehouses or distribution centers, the less agile a company is. While logistics businesses may not be directly involved in the sales side of this issue, they can take steps to improve inventory inefficiencies.

Like fleets themselves, most inefficiencies in this area come from a lack of visibility. When organizations don’t know exactly where every item is at all times, it can take time to retrieve the correct one. Similarly, this lack of transparency can lead to confusion and errors that require correction down the road, leading to delays.

According to one survey, 34% of businesses have shipped items late because they sold out-of-stock items. Warehouse management systems, IoT tracking, and RFID tags can all help keep better track of inventory levels, avoiding mistakes like this. Logistics businesses can then pass these benefits along to their partners, creating positive ripple effects.

Train Employees More Thoroughly

One risk factor that can affect financial efficiency in any department in any business is human error. Even small mistakes can lead to considerable disruptions over time as more employees make them. Many may suggest automation as an answer, but that isn’t applicable in every circumstance and isn’t always necessary.

The solution to this problem is to put more emphasis on employee training. Organizations should look for common mistakes and, as trends emerge, emphasize these points in training. Periodic refresher courses over high-value or complicated processes can help too.

When workers better understand how to perform their jobs correctly, they’ll also work faster. More thorough training will boost confidence, leading to less second-guessing and higher efficiency.

Financial Efficiency Is Critical for Any Logistics Business

As the logistics market grows increasingly crowded, businesses must improve their financial efficiency to stay competitive. Higher efficiency will lower operating costs, attract investors, and open new strategic opportunities. These seven steps can help any business increase its financial efficiency. Companies can then become as agile and profitable as possible.

supply chain
3pls, Archives, Global Logistics, Global Trade Daily

7 Ways to Update Your Supply Chain Strategy for 2022

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The onset of the COVID-19 pandemic has changed the logistical landscape forever. There have been significant channel shifts due to renewed consumer behavior, the speed of orders, and delivery standard expectations. Amidst all this pandemonium, supply chains had to evolve years in a span of months just to keep up with this significant paradigm shift. 

Companies have moved away from low-cost supply chains and towards a much more resilient and agile framework. 87 percent of supply chain leaders are looking to invest in resilience in the coming years. As a result, the adaptation of next-gen transportation and logistics strategy solutions has made supply chains faster, smarter, and user-centric. Moreover, the logistics industry is evolving at an alarming rate and is said to reach a valuation of $12,256 billion by 2022. 

Since adroit logistics are reshaping the whole supply chain, what should you look forward to in 2022 and beyond? Read on to know more about seven different ways you can make your supply chain strategy even better!

Importance & benefits of a good supply chain strategy

In light of this new normal brought by the pandemic, it is of the essence that all companies, no matter the size, adapt a supply chain component. But why? Well, let’s delve into that for a bit.

Keeps costs and service quality in balance 

Customer satisfaction is key to the success of any business. But that might mean having goods in stock at all times. This might lead to overproduction and wastage of resources. With a good supply chain management (SCM) strategy in place, this can be avoided. The company shall save money and keep customers happy at the same time. 

Higher efficiency rate  

Data-driven SCM provides real-time data on the availability of raw materials and manufacturing delays. Hence, companies implement a ‘plan B’ instead of meeting these hurdles with empty hands. Out-of-stock inventory and late shipments won’t be an issue anymore. 

Encourages business development  

With an effective data-driven SCM strategy in place, you can analyze your past dealings with vendors. You can compare prices, quality of services, raw materials, etc., and realize improvement areas. Work on them and achieve your business goals efficiently. 

7 ways to better your supply chain strategy for 2022

Higher visibility 

Increased visibility into your supply chain’s transportation spend is a must. By doing so, you can improve on your weaknesses, control costs, and make effective, impactful data-driven decisions. In fact, 50 percent of global product-centric companies will have implemented real-time transportation visibility platforms. But why so?

Well, the answer lies in two parts. Firstly, they allow customers to track their orders in real-time. This meets the renewed customer expectations and makes the work of the customer support team a little easier. Secondly, the customer support team can deliver invaluable insights into your transportation costs and overall performance. 

Total visibility into your transportation spend is a gateway to optimize carrier selection, carrier rates, contract management, etc. Not only that, but you now have a stream of high-quality data that can help improve your business intelligence and make smarter data-driven decisions to cut costs further. 

Increased resiliency 

A resilient supply chain can be the only thing standing between a company’s success or failure. A bold claim? For sure. But is it wrong? Absolutely not. An effective, agile, and resilient supply chain management strategy can be a massive sales enabler and a significant driver to the company’s profit margin and growth opportunities. 

You need to optimize your transportation spending to understand where you are directing your money and root out all the unnecessary expenses. By controlling the costs within the supply chain, you can cut many costs and direct that money towards optimizing the areas that require improvement. Provided your supply chain management strategy is spot-on, you can make data-driven and impactful decisions and secure your place at the top of your industry. 

Optimized logistical networks 

The supply chain industry has recently seen a shift to omnichannel. The logistical disruptions caused due to the ongoing pandemic have accelerated this process by a considerable extent. According to a report by Gartner, 76 percent of supply chain professionals claim to have experienced an increase in disruption events in the past three years. 

72 percent of them also stated that the impact of these events has also increased. Hence, optimizing your logistical network for agility and resilience has become vital to maintain and multiply your customer base. Due to the ongoing pandemic, most customers have adapted to online shopping or buying online and picking up at stores (BOPUS). 

Although in-store shopping hasn’t completely disappeared, this new normal demands you to constantly keep up with customer orders and restock retailer inventory. Companies seem to be juggling between global, regional, and local networks to enable quicker delivery times. Hence, 90 percent of US retailers and consumer goods companies plan to change and optimize their supply chain network to increase efficiency. 

Better risk mitigation 

Risk mitigation is essential to maintain your customer base and the integrity of your supply chain. This point can’t be stressed enough post the onset of the pandemic. Over 28 percent of companies experienced a stock shortage in the first few months of the pandemic. This can damage your brand identity and have a detrimental effect on your customer base and market share. On top of this, damages, delayed shipments, inadequate storage environments, etc., can worsen the situation. 

You need to evaluate and identify the current risks to your company, prioritize them by probability and impact, and approach them accordingly. For example, optimizing and automating freight audits can act as a potent risk mitigator, as it eliminates errors, averts delays based on discrepancies, and streamlines operations. 

Digital supply chain adoption 

Supply chains have been very sluggish in adopting digital transformation. But the pandemic has been a wake-up call. With the digitization of almost everything in sight, supply chains need to undergo complete change management to stay afloat and keep up with the changing times. 

But what is change management? Change management is a collective term for all structured processes and approaches used to prepare, support, and help organizations make a complete organizational change. Managers today need to understand its tenets and create a seamless digital transformation. This is extremely necessary as only 1 percent of world supply chain leaders have an extensive digital supply chain system in place. 

With proper change management and digital supply chain tech adoption, this number is expected to shoot up to 23 percent by 2025. But people generally misinterpret the meaning of a digital supply chain. It is not just pushing spreadsheets onto a platform. 

It refers to the development and implementation of advanced technologies cloud-based computing, IoT, blockchain, ML, AI, etc.) to drive improvements in traditional supply chains. Implementation of such technology will reduce errors, improve resource efficiency, and provide valuable insights. 

Reliance on real-time data

Organizational silos can be detrimental to the smooth functioning of your company. Employees might become more insular and distrustful of other departments, making it challenging to work with other groups. Real-time data is the only way to break down these organizational silos as they offer complete transparency within your supply chain’s transportation spend. 

According to a study conducted by Forbes, 84 percent of supply chain leaders claim that real-time data has helped them break down silos across the entire value chain. Real-time data can allow you to control cost centers, measure performance, address procedural gaps, improve decision making, and boost overall team and company performance. 

With the pandemic still at large, the remote work culture makes maintaining transparency and leveraging accurate real-time data even more critical. This is to ensure that your transportations spend management keeps running smoothly and fruitfully. 

Increased disruptions 

The first nine months of 2020 experienced a massive 4200 disruptions to global supply chains, 14 percent higher than 2019. With disruptions set to keep increasing, supply chains must adapt and evolve to survive. Investing in supply chain resilience is an absolute must for 2022. 

Also, climate change is making it more and more necessary to adopt digital solutions within supply chain management. According to a WHO, UNDP, and IPCC report, climate change has increased heat in the workplace and has reduced labor productivity by 20%. Hence, our reliance on software solutions has to proliferate to unburden human resources and prevent productivity loss.

Implementing an agile approach to supply chain transformation

An agile supply chain is a supply chain of the future. Supply chains must encompass the ability to achieve more in a shorter time, adopting new digital technologies. All end-to-end processes, such as planning, manufacturing, logistics, etc., must be backed by the latest technologies. 

A more traditional supply chain will be rendered obsolete and must undergo complete change management to keep up with the rapid digitization of the industry. Process re-engineering (radical redesign of business processes) and adaptation of software solutions to cater to the company’s specific needs will pave the way for an impeccable supply chain management strategy. 

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Hazel Raoult is a freelance marketing writer and works with PRmention. She has 6+ years of experience in writing about business, entrepreneurship, marketing, and all things SaaS. Hazel loves to split her time between writing, editing, and hanging out with her family.