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Procurement Trends Under the Spotlight at the Women in Procurement Conference 2023

procurement women opportunities
Archives, Global Logistics, Global Trade Daily

Procurement Trends Under the Spotlight at the Women in Procurement Conference 2023

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The procurement industry is in a transition phase, presenting both challenges and exciting opportunities.  The important and key role that procurement professionals play was thrust into the spotlight during the COVID-19 pandemic, as the world came to note the importance of stable supply chains. Talent management, technology, Environment, Social and Governance (ESG), Enterprise Supplier Development (ESD) and Broad-based Black Economic Empowerment (B-BBEE) are some of the important procurement topics that will be under the spotlight at the third Women in Procurement (WIP) Conference, which takes place on 23 March 2023 at Times Square in Pretoria.

Procurement is a key driver of development and enabler of service delivery. The government is the single largest buyer in the country, spending more than R500-billion on goods, services and construction works a year through more than 1 000 procuring entities.

The one-day WIP Conference will address how women in the procurement space can accelerate their journey to value, by better harnessing networks, intelligence and the experience of those at the forefront.

The WIP Conference aims to:

  • Introduce a targeted mentorship and coaching programme for procurement professionals;
  • Increase awareness of opportunities for women empowerment and funding;
  • Expand networks to enable collaboration with other experts; and,
  • Provide a platform for women in procurement to network and collaborate on various business opportunities.

The draft Programme includes:

  • Keynote address: Mpho Matsitse – Head of Industry and Value Advisory: SAP Africa
  • Fireside Chat: MJ Schoemaker (SAPICS President) and Allison Anthony (Senior Lecturer of Public Procurement Law:  UNISA)
  • Master Class: Dawn Smith – Head of Training: Caliba Group
  • Pressures in procurement: Mmatshepo Rasebopye – Director for Supply Chain Management; Gauteng Provincial Government

 The hybrid event takes place on 23 March at Times Square in Pretoria and online. To register, go to www.procurementor.co.za. Tickets can be purchased on Quicket –

https://qkt.io/blZLem

The event is being supported by the Black Management Forum (BMF), the Chartered Institute of Logistics and Transport: South Africa (CILTSA) and CVLC Communication. For details of sponsorship opportunities, email Mookho at mookho@procurementor.co.za

charter bus market
Archives, Global Logistics, Global Trade Daily, Market insight

Charter Bus Services Market Size to Reach US$ 27.1 Billion by 2033

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The charter bus services reached a valuation of US$ 18.7 Billion in 2023. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a whopping 3.8% CAGR, reaching US$ 27.1 Billion.

The image above represents market bifurcation based on region and Application. Group charter services hold the leading share of 68.0% in the charter bus services market.

What are the elements influencing the market for charter bus services?

People can travel in a variety of ways and with a degree of flexibility owing to charter bus services. It enables users to plan a path to the most fascinating locations quickly. Therefore, passengers have complete freedom to travel and spend as much time as necessary at designated locations. Additionally, it eliminates the need to organize every aspect of the route because a corporate logistics specialist will handle all aspects of the arrangement for a bus rental with a driver.

Moreover, charter buses are a prominent option for people in the corporate sector to work while traveling somewhere without any hustle because of perks like free Wi-Fi, undercarriage storage space, and onboard bathrooms. Owing to all these features charter bus services are gaining immense popularity worldwide.

Why Does the U.S. Command a Big Share of the Global Market?

The US charter bus services market is highly fragmented with the presence of various small and large companies offering motor coaches. These companies offer more than 15,000 charter buses for different passenger trips contributing about 80% of revenue from charter bus services.

The economy is bound by a huge population from the corporate sector which is one of the leading factors attributing the demand for charter bus services due to affordable and cost-efficient travel features. Additionally, the increasing trend for mini charter bus rental in the country will create lucrative opportunities for market development in the forthcoming period.

Key Takeaways from the Market Study

  • According to Fact.MR, a CAGR of 3.8% was recorded for the charter bus services market from 2023-2033
  • In FY 2022, the charter bus services market reached a valuation of US$ 18.0 Billion
  • Charter bus services market reached a valuation of US$ 27.1 Billion by 2033
  • By End-user, the Business/Corporate Segment is expected to dominate the market, accounts for 63.0% global market share
  • East Asia and Europe region  are projected to rise with the highest CAGR of 4.6% and 4.0% during the forecast period
  • The market in China is expected to expand at a 4.9 % CAGR

Competitive Landscape

Key market players in the charter bus services market are Barons Bus, Chinook Charter Services, Coach, Inc., Dousman Transport Co., Inc., Durham School Services, Fullington Auto Bus Co., GOGO Charters, Golden Touch Transportation, King Charters, Metrowest car service, Northwestern Stage Lines, Quality Assurance Travel, SBI Charters, TCS, Wisconsin Coach Lines and Other Key Players.

The charter bus service market is highly fragmented with the presence of various large and small market players in the industry. These market players are adopting key initiatives like the launch of services and expansion to enhance their footprint and expansion of market share.

For instance :

  • In July 2022, Uber, has introduced its charter bus services in Houston, Texas, and the Dallas-Fort Worth metroplex.
  • In December 2022, CharterUP, a tech-enabled charter bus service provider announced the expansion of its services in from Texas to other prominent region of the United States like Austin and San Antonio.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global  charter bus services market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the market on the basis of Application (Private Charter Services, Group Charter Services), End-User (Business/Corporates, Individuals) & across six major regions (North America, Latin America, Europe, CIS & Russia, Asia Pacific, and Middle East & Africa).

US cities
Archives, Education, Global Trade Daily

Employers Take Note – The Top 5 US Cities to Live 

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Family ties or friends bring people to new cities. Employment opportunities sway others. Whatever the reason, it’s rare these days to remain stagnant in one city for long. The US economy is dynamic, even in this slowdown, and most cities have enough similarities that acclimating to a new place is not overly difficult. 

There is a host of “best of” lists, but the good people at StudyFinds compile some of the best. The company consulted 10 expert lists and narrowed down an exhaustive list of US cities to their top five best places to live. Employers should take note, these are affordable destinations that people are flocking to. 

5. Colorado Springs, Colorado

Colorado is home to several very liveable cities. Boulder, Colorado is one of the most beautiful places in the US, while Denver is centrally located with an array of outdoor activities all within a major metropolitan area. But once sleepy Colorado Springs is finally getting the attention it deserves. Home to the US Air Force Academy, Colorado Springs is a quaint town, historically in the shadows of Boulder, Denver, and even Fort Collins. But with more affordable home prices, minor traffic, and a plethora of nature to take advantage of, Colorado Springs is drawing more new residents than ever before.

4. Fayetteville, Arkansas

A bit of a head-turner, Arkansas cities generally do not make top 5 or even 10 lists often. But Fayetteville is experiencing a boom in growth with more and more young entrepreneurs making their way to Razorback country. The town is home to the University of Arkansas Razorbacks and the city revolves around the young university life. Additionally, Fayetteville’s proximity to the Ozark Mountains is a real plus for outdoorsy types. The abundance of community green space, parks, playgrounds, and walking trails are perfect for folks of all ages and interests.

3. Huntsville, Alabama

Remaining in the south, Huntsville became known in the 1960s as it was a regional hub for NASA. This helped draw interest some 60 years ago, but a recent tech renaissance is bringing in a new crop of residents eager to test out their entrepreneurial ideas while not paying $4,000 a month for a studio apartment in San Francisco or other overpriced tech centers. Artists have also had a hand in transforming the center of Huntsville, with performing arts centers, a slew of craft breweries, and hip eateries.

2. Raleigh, North Carolina

Raleigh is not a surprising addition. Long-known as a tech mecca, Raleigh is strategically situated within the three corners of North Carolina’s Research Triangle. A center of innovation on the East Coast, Apple recently announced plans for a billion-dollar campus which has the state excited beyond belief. Yet, it’s the city’s new culinary offers and cultural activities that have most buzzing. Despite being home to a large university – North Carolina State – Raleigh had historically taken a back seat to Chapel Hill. But the tide is turning and Raleigh is the new darling in North Carolina.

1.Ann Arbor, Michigan

Coming in at number 1 is another college town – Ann Arbor. For those who were rivals of the University of Michigan and made the trip to Ann Arbor to watch a game, Ann Arbor’s addition to this list is a no-brainer. But like Raleigh, Ann Arbor is attracting more culture to the town than ever, featuring world-class restaurants, an arts sector that is impressively well-rounded, and outdoor options that have long been the calling card of this northern city.   

 

rail europe
Archives, Global Logistics, Global Trade Daily, Rail

Rail Europe Announces its First Participation to ITB Berlin 2023

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Rail Europe is delighted to announce its very first participation as  exhibitor to ITB Berlin, the leading travel trade show, from March 7 to 9 March 2023. Rail Europe, the  aggregator of the European train industry, will showcase its extensive range of products and solutions  to travel, tourism and mobility experts.  

Björn Bender will be participating in a panel discussion entitled ‘Carriers at the Crossroads between  Decarbonization and Changes in Booking and Travel Behavior’ on 7 March, from 1:00 to 1:45 PM at  Hall 7.1b, Blue Stage. During the discussion, he will share Rail Europe’s vision and strategy to enhance  the rail travel experience throughout Europe, making it simpler, sustainable, and enjoyable. 

Rail Europe is the global reference brand for European train booking, both for individual travellers (B2C) and travel industry (B2B) anywhere in the world. Its mission is to aggregate European Rail at an  international scale, to make train travel easy and to bring more people onto rail. 

The full line-up of Rail Europe’s talks, events, and activities at ITB Berlin 2023 will be revealed in mid February 2023. Feel free to reach out for more information or for a personal meeting with a member  of our team.  

About Rail Europe  

Rail Europe is a global travel tech company and the reference brand for European train booking. We have been the trusted partner of the travel industry and train operators for 90 years. Our rail expert  teams provide technology service solutions to +15,000 travel professionals in 70 countries.  International travellers who want to travel by train easily throughout Europe can also book their travel  directly through our state-of-the-art train booking website and app. The company sells around 2.5  million European train tickets every year. Its catalogue of products focuses on more than 100 brands such as SNCF, SBB, Eurostar, Thalys, Trenitalia, Italo, DB, Renfe, ÖBB, SNCB, NS, OUIGO Spain and  National Rail, and rail passes including the Swiss Travel Pass and Eurail Passes. Rail Europe is  headquartered in Paris.  

eSim subscription
Archives, Global Trade Daily, Technology

eSIM Subscription Market to Open up New Avenues for Telecom Sector Business

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The worldwide eSIM subscription market net value is forecast to reach over US$ 980 Mn in 2023, with a substantial CAGR of 30% expected from 2023 to 2033. According to the eSIM subscription industry analysis, the market’s entire worth would rise to US$ 13,510 Mn by 2032.

The rising use of eSIM subscriptions in consumer electronic items is being pushed by benefits such as greater connectivity, reliability, and security. The consumer electronics industry remains a crucial component affecting the development, advancement, and revolution of a number of technological services, including eSIM subscriptions.

Again, because features like eSIM 4G and 5G services make switching mobile phone network carriers easier, it would encourage more physical SIM card network providers to embrace and compete in the eSIM subscription market.

The growing trend among smartphone manufacturers to include an eSIM within the device is expected to enhance demand for eSIM subscriptions and the hardware category. Furthermore, eSIM enables the administration of M2M devices, many of which are completely remote and located, and it is expected that it will effectively have the largest market share throughout the projection period. The usage of M2M and IoT technologies in the automotive industry is also expected to raise demand for eSIM subscriptions. The GSMA Embedded SIM Specification, which will improve vehicle connectivity and pave the way for a new generation of connected cars, has just received support from the automotive industry, and it is expected to increase demand for eSIM subscriptions from a variety of connected services, allowing the industry to grow.

Key Takeaways

  • Due to its achievements in commercial eSIM deals as well as IoT eSIM, Giesecke + Devrient Mobile Security GmbH is the rightful leader in the eSIM subscription industry.
  • Thales is a close second on the list, with high marks for its operating system and interoperability, eventually topping the list of eSIM phones.
  • With a larger consumer base of smartphone users, Asia Pacific nations are the fastest-growing economies in terms of eSIM subscription acceptance.

Competitive Landscape

Some of the prominent companies in the worldwide eSIM subscription market include Infineon Technologies AG, NXP Semiconductors N.V., STMicroelectronics, Deutsche Telekom AG, Giesecke + Devrient Mobile Security GmbH, Gemalto NV, and ARM Holdings.

According to the eSim subscription market research, G+D leads the market and has supplied subscriptions for the greatest number of digital SIM card-capable devices, including cellphones, wearables, iPads, and iPhone dual SIM devices.

Recent Developments in the eSIM Subscription Business

In the previous year, Kigen released the first EAL5+-approved iSIM hardware to the market in conjunction with Sequans. Kigen has built several strong and reliable alliances that cover the whole value chain, allowing it to penetrate the market and operate at scale.

In September 2021, Deutsche Telekom AG, in collaboration with Bayerische Motoren Werke AG, unveiled the first version of in-car 5G and personal eSIM networking capabilities. Vehicle communication with the customer’s cell device may now be linked through 5G utilizing a personal eSIM offered by Deutsche Telekom AG.

estate
Archives, Education, Global Trade Daily

Financial Planning 101: Why Updating Your Documents Are Important

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What are you worth? This is one question that catches people off guard. That is because it offers an array of answers, and it is difficult to provide a suitable answer. 

One area many people look into for an answer is their finances. A common mistake is that many leave financial planning for their retirement years. 

It is important that you develop and effect a good financial plan because the absence of one is costly as you grow older. With some smart planning, you can avoid many issues

What is financial planning? Financial planning is a careful analysis of your financial situation. It involves assessing your assets, including your savings, taxes, investments, and estate. 

According to CNBC reports, about 33% of Americans are void of any financial plan. (CNBC is a media news outlet, it is best to quote the source they use) The numbers are monumental, considering 67% of Americans have no estate plans. 

Most people put off estate planning resolutions as it involves several aspects of finance they may not understand. Yet, there are several financial planning benefits, including making smart business decisions. 

Luckily, technological advancements have made it possible to complete the estate planning process effectively. These online estate planning services, typically from an all-in-one digital platform, makes completing estate and inheritance plans simple.

By utilizing software estate planning, you gain from a robust estate planning process. That is because users gain access to all necessary estate planning documents and complementary financial products and services. This allows for a comprehensive estate plan.

Yet, these may be useless if you do not understand certain aspects of finance. This article focuses on crucial financial tips. These will set you on your way to reaping financial planning benefits in estate planning.

What to Know About Financial Planning

Financial planning may not be at the top of your list when making plans, but they do require your attention. It is crucial to decide how you will distribute your possessions once you pass away. 

A survey by Caring.com reveals that young adults’ interest in estate planning leaped by as much as 50% since the pandemic.

A great financial plan is the greatest gift you can give your loved ones. You do not want them to have to deal with your financial baggage after you, so it is best to set up a will.

So, what should you know when making a financial plan?

1. You can have a Financial Plan at any age

No specific group of people has the right to financial planning. Financial planning is independent of your age, financial status, or job. Financial planning can include a wide range of services. It is comprehensive and all-encompassing. 

It does not concentrate on just one area of your money. Rather, it sees clients as actual individuals with a range of objectives and goals. It discusses several financial ideals and realities. This helps individuals live their lives to the fullest as they achieve financial goals.

2. Saves Costs and Time

It is sad that everyone dies at some point. However, if you die without leaving a will, that leaves your estate for the government to manage. 

In this scenario, the state, per its laws, distributes your assets and possesses property. The probate courthouse chooses a representative to distribute your assets, and the surviving spouse typically receives the position. The court will appoint a public trustee to distribute your assets. 

They will do this per state law if you do not have a surviving spouse or if no other immediate family member is available or willing to take on the responsibility. 

But with a financial plan, you can avoid all the above hassles. Your financial planner drafts your will and monitors it. You can also make routine upgrades to these documents. 

3. Finance Tracking

With a financial plan, it is easy to track your financial progress. This helps you make smart decisions in business and investment. You can also get such benefits as bank loans. 

What to Do as Part of Financial Planning

Most people want to have a better handle on their finances. They have heard about the advantages of personal financial planning. Yet, sometimes financial planning can feel overwhelming. 

This financial planning overview is useful if you are unsure of where to begin. It outlines how to take charge of your finances in eight easy steps. It also defines priorities for anyone at any point in their financial life.

1. Review Old Plans and Create a New One

A financial plan is essentially a documented list of goals and how to achieve them. It is a holistic system of building your finance and assets. It may include buying a house, fees, debt payments, or starting a business.

Start by writing all your goals down. It may be on a yellow pad or using estate planning software. This is a simple step in the right direction. It gives you a baseline to measure your success. It also aids you in setting priorities for the best use of your financial resources.

It is best to make routine revisions to your plan and documents to include new changes. Changes such as shifting financial conditions or preferences and life events. These may include new marital status, job loss, retirement, death, or birth.

2. Have Up-to-date Financial Records

Knowing your financial status helps you manage your resources. So, have the following financial documents:

  • Bank statements for investment accounts
  • Mortgage and credit card statements and tax returns
  • Insurance contracts
  • Estate planning paperwork

Arrange them so you can find and use them when necessary. Placing them all together will make it easier for you to assess them. Your current financial status gives precedence to achieving your financial goals. 

Always make an inventory of your personal belongings while you consider your situation, as it will serve as your estate record. It gives a record for your insurance company when you lose assets. Estate planning documents are also valuable in business planning.

3. Have an Expenditure Plan

An expenditure plan outlines the sources and uses of your money. Your salary, bonuses, and interest earnings are all your inflows. It is quite easy to monitor this aspect of your financial plan. 

The outflow section contains a thorough breakdown of where you spend your money. Your savings should be your primary outflow. Your inflow and outflow are equal if you are living within your means.

Whatever your net worth, having a balanced expenditure plan should be a top financial concern. A spending plan indicates the major areas where you want to allocate your money. Also, it can serve as a warning sign for coming money issues.

4. Have an Emergency Fund

Should you lose your normal sources of income, you should have enough money on hand to meet your basic living expenditures for three to six months. You might want to raise the number of reserves depending on your employment. For instance, self-employed people may desire to keep twelve months’ worth of reserves. This is most necessary if your income is erratic.

5. Minimize Debt

If possible, try to have no debts! Debts can ruin your financial plan. You must make paying off your consumer debt a top priority in your books. 

These include credit cards, school loans, auto loans, and personal loans. And why spend money on your loans and credit cards when the interest rates are almost always very high? Making money choices are what makes a financial plan impeccable and successful.

Why You Need a Financial Plan

Here are some reasons you need to implement financial planning.

1. Frames Your Choices

The issues around financial planning don’t stop at your private life. Understanding financial planning in business is integral in securing wealth. 

Making difficult decisions and learning about trade-offs are part of life. Financial plans can assist in defining your options and maximizing them. Among them are choices regarding the type of retirement account to fund. 

They also include investment options and strategies, the kind of insurance to buy, debt management, and handling family finances.

2.  Helps in Risk Assessment and Management

A financial plan helps you determine which risks an insurance covers. It is challenging to decide what kind and how much of the various insurance to purchase. 

A sound financial plan can help you and your loved ones reduce these risks. This puts less burden on you when a financial risk goes south.

3. Provides Great Life Satisfaction

According to the Australasian Accounting, Business and Finance Journal, financial planning benefits go a long way for your emotional and mental health. Compared to those who do not have any sort of financial plan, people with a plan experience less stress and are more upbeat about the future.

A financial plan can help you pay more attention to your finances. This reduces your stress levels related to money. You are more likely to succeed when you have a plan in place to handle obstacles.

More importantly, when people make changes in one area of their lives, those changes inevitably affect other aspects of their lives as well.

Why You Need to Update Your Financial Plan

Financial plans change over time as situations arise. Therefore, having a great financial and estate plan is not enough. You must have a routine check to keep it great. This involves updating your documents and altering plans. But why is it necessary to update your financial plan?

  • You can stay on track with your financial goals and have the satisfaction of being on course.
  • You have the motivation to do better when you see how far you have come.
  • Clarity on the decisions to make and what you need to implement.
  • New events and alterations enter into the financial documents.
  • You recognize and avoid curveballs in business.
  • You have an organized estate plan.

Conclusion

Financial planning does not have to be an expensive process, nor is it only for the wealthy. However, you need to understand why finances are essential to get a good idea of your priorities. 

The earlier you start a financial plan, the better. Yet, keep in mind that an estate plan is only helpful if you keep it up to date. 

Regularly review your plan, as well as after significant life events like a death in the family or a divorce. Observe any modifications to tax laws or other financial legislation. Your beneficiaries can still face issues with an outdated estate plan.

 

Cargo2ZERO transportation, handling and management of goods is the single greatest impact generator for many businesses. Kevin Sneader, global managing
Archives, Global Logistics, Global Trade Daily, News

Cargo2ZERO Helps Airlines and Freight Forwarders Report on their CO2 Emissions

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Cargo2ZERO puts carbon reporting, tracking and reduction within easy reach for freight forwarders of all sizes and airlines, ultimately contributing to a more sustainable future.

CO2 visibility emission data is available for all airline schedules, Routes and AWB tracking on CargoAi, which are calculated as per IATA RECOMMENDED PRACTICE 1678 STANDARD. Freight Forwarders can determine the carbon emission per AWB or bulk upload AWB in order to fulfil their sustainability reporting requirements, which are presently recommended only at a national level, rather than an international level. The data provided by CargoAi is the only solution based on actual booking/ AWB routing, aircraft code & shipment weight.

At present, sustainability reporting largely remains on a voluntary basis. In recent years, a number of voluntary reporting initiatives have thus been created over time to aid organizations and in parallel, many national reporting provisions have been developed. Although there is significant progress, a single international regulatory framework is yet to be finalized, and companies with a global footprint will then face mandatory audited environmental, social and governance (ESG) reporting requirements. With data provided from Cargo2ZERO, such multinational companies will already have the ability to report on their Scope 3 emissions and be fully prepared for such audits.

CargoAi cites visibility is the first step in tackling the issue of climate action. With Cargo2ZERO, freight forwarders can take the second step to Optimize emissions for each shipment with the CO2 Efficiency Score as their benchmark. The final piece of the puzzle is emission Reduction with Sustainable Aviation Fuel (SAF) purchase, also part of Cargo2ZERO..  

Cargo2ZERO won an award for its Carbon Efficiency Score at the TIACA conference in Miami in 2022 in the start-up category. At the same conference, CargoAi announced its landmark partnership to allow freight forwarders of all sizes to purchase SAF with Neste, the leading producer of SAF. Through this partnership, small to medium-sized freight forwarders are now able to purchase SAF at a transactional level, which was previously only accessible to large freight forwarders who had significant resources to make direct contracts with airlines.

CargoAi attributes its success in winning not just the Sustainability Award in 2022, but also the Air Cargo News Innovation Award, thanks to its partnership with CargoTech, allowing for continued growth and innovation.

Freight forwarders can already go ahead to utilize the functions of Cargo2ZERO in their standard booking flow on CargoMART or provide list of AWBs to CargoAi’s team, and airlines can enquire with CargoAi about white-labelling this solution to meet their own sustainable targets.

fleet Website addresses needs of fleets carrying shipments of export cargo and import cargo in international trade.
Archives, Global Logistics, Global Trade Daily

How Fleet Managers Should Optimize Their Daily Maintenance Checklist

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Rising costs, labor shortages and issues in the supply chain are making fleet management much more complex. Old practices aren’t as effective, so business leaders need new ways to keep their companies modern and in step with the times. 

The needs of logistics professionals can change by the day, so keeping pace is critical. Here’s how logistic professionals can optimize their maintenance checklists. 

Implementing Automation

The first step in optimizing a checklist is to implement automation. Machines have become much more intelligent over the past few decades. Modern technology frequently sees artificial intelligence (AI) excel at saving time in the workplace and on the road. 

Fleet managers should take advantage of automation because it’s also a beacon of safety. Since 1972, on-the-job injuries have dropped significantly, and automation receives much credit for smoothing processes.

Companies can benefit significantly from fleet management software. These programs take paper out of the workflow and give professionals the data they need in front of them. Software is ideal for those who want to improve time management and automate specific tasks. For example, programs can bill customers, manage operating expenses and monitor vehicles through tracking software. 

Prioritizing Safety

Workplace safety has improved in the last half-century, but fleet managers and drivers still face risks when they hit the road. Drivers are the most integral pieces of any business utilizing fleets, and managers should emphasize safety and train them to implement best practices. Knowing the expectations now can save many headaches in the future. 

Safety should be a top priority from day one, and that starts before the keys go in the ignition. Fleet owners can optimize their checklist by training drivers on what to watch for with their vehicles and how to perform maintenance. For example, suppose a tire goes flat on the highway. Training the driver to fix it themselves saves money and reduces downtime because they know the best way to mitigate the issue.  

Using Telematics

Another way fleet managers can optimize their maintenance checklist is by implementing telematics. This software is ideal for tracking driver behavior while on the road. Employees who know they have a tracking device in the vehicle are more likely to adhere to best practices while operating. Telematics gadgets alert fleet owners of drivers’ habits, whether speeding, phone usage, hard braking or other detrimental acts.

Most fleet owners use telematics to correct driver behavior and ensure safe driving, but the benefits go beyond that. Managers have legal backing if someone steals the vehicle. A GPS tracker lets owners know where their trucks are at all times so law enforcement can find those culpable. 

Telematics can optimize your maintenance checklist by providing the information to drivers more quickly. These devices often detect vehicle problems before a human. Finding issues earlier leads to a more straightforward fix and less strain on the company’s wallet when it’s time to repair. 

Determining Task Responsibility

Technology can tell fleet owners the problem, but it takes humans to look under the hood and fix it. Drivers can perform maintenance tasks, like airing tires or changing the oil. Other, more complicated tuneups may need a certified technician specializing in certain vehicle parts. 

Fleet managers must divide who gets what responsibility to ensure every maintenance element goes smoothly. Owners can optimize their maintenance checklist by assigning tasks based on who can perform them the best. Employee experience will play a key role in addition to the type of vehicle. 

Reducing Maintenance Costs

A maintenance checklist should include tasks that reduce costs in the long run. Fleet owners can save money by doing small things now and preventing more significant problems in the future. Some of these tasks may include:

  • Washing: Washing might not be at the top of a fleet manager’s list of maintenance tasks, but it’s critical. No matter where they drive, cars end up with dirt and debris on the exterior and undercarriage. Fleet owners can optimize their checklists by creating daily and weekly tasks. For example, drivers should sanitize the steering wheel daily. Weekly, they should perform tasks like cleaning the mirrors and door handles. A clean car shows employees and consumers that the company cares about safety and cleanliness.
  • Waxing: Waxing is another preventive maintenance task. Fleet owners operating on the coast or in cold-weather areas should be wary of rust buildup. Salt from the ocean and the roads can easily damage a car by causing rust. Waxing twice a year protects vehicle parts from breaking due to rust damage and makes the maintenance checklist easier in the long run. 
  • Tires: Tires are an integral part of any fleet. Owners can use tires as a way to optimize their maintenance checklist. Drivers and managers should track the psi of every vehicle because it plays a significant role in other factors like driver safety and fuel mileage. For example, properly inflated tires increase fuel mileage by up to 3%, but underinflated tires harm fuel economy. 

Upgrading When Necessary

Modern problems require modern solutions. Sometimes, fleet managers and drivers can take precautions and perform preventive maintenance. However, the vehicle doesn’t want to cooperate for one reason or another. The problems could stem from unknown issues or a car reaching the end of its life. Fleet owners should keep an eye on what components require the most attention because an upgrade could be in order.

A maintenance checklist should include every component of the fleet’s vehicles. Owners should account for extensions and attachments like trailers. Cars wear down over time, and managers should consider upgrading the entire vehicle or individual parts. Enhancing the fleet with aftermarket updates like a cold air intake or iridium spark plugs could make the checklists easier for drivers in their daily duties.  

Optimizing the Maintenance Checklist 

Today’s economy makes things more challenging for fleet managers. Supply chain disruptions, rising prices and other problems increase the job’s complexity. The heart of the work lies with the cars and drivers. These professionals should optimize their maintenance checklist to keep pace with today’s demands.

A modern-day checklist starts with automation. Fleet owners should let management software take care of tasks like billing and scheduling vehicle maintenance. Automation allows them to focus on the bigger picture. 

Managers should also heavily emphasize safety to their drivers and help them take steps to protect themselves and their vehicles. Minor optimizations in the short term can save a fleet company a lot of money in the long run.

overhaul
Archives, Global Logistics, Global Trade Daily, News

Overhaul Acquires SensiGuard to Become Largest In-Transit Supply Chain Cargo Security Provider

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Combined entity offers the industry’s most comprehensive supply chain logistics visibility and security solution, managing risk throughout the global cargo journey.

Overhaul, a software-based, supply-chain visibility, risk, compliance, and insurance solution for the world’s leading brands, has completed the acquisition of SensiGuard® security services from Sensitech®. With this addition, Overhaul takes a commanding share of the supply chain security market and cements its position as the leader in protecting and optimizing global supply chains.

The acquisition extends Overhaul’s global footprint, adding established offices in Brazil, Mexico, and Czech Republic. The company now has the same level of infrastructure across North America, Latin America, and Europe, increasing its ability to manage truly global supply chains. The deal also expands Overhaul’s book of business, adding some of the biggest names in tech, pharma, and other logistics service providers.

Cargo theft continues to be an ongoing issue plaguing global shippers; as thieves adjust their tactics and focus on high value goods, the need for additional security to protect in-transit cargo is paramount. SensiGuard and Overhaul will combine to offer a powerful visibility engine and 24/7 risk monitoring capabilities, providing shippers with a comprehensive, real-time solution for mitigating the risks associated with theft, damage, chain of custody, and other cargo security threats no matter where the load may be throughout the globe.

The deal also more than doubles Overhaul’s headcount, adding over 350 employees who support SensiGuard services bringing an incredible depth of experience and talent in helping companies take control of managing their supply chain risk. SensiGuard’s success is built on a foundation established by the same leadership who will join Overhaul and continue to elevate the company’s technology and service.

About Overhaul

Founded in 2016 and headquartered in Austin, Texas, Overhaul is the only device-agnostic supply chain visibility and risk management software company. As the global leader in in-transit supply chain risk management, Overhaul transforms real-time visibility into risk management, compliance, and insurance solutions for its partners. Its software-based approach offers high configurability and efficient time-to-value to supply-chain organizations without heavy tech. Overhaul is a trusted provider for Fortune 100 companies moving freight globally across industries, such as pharmaceutical and healthcare, technology, logistics, and food and beverage. Customers include Microsoft, Bristol Myers Squibb and many others. For more information, visit over-haul.com, and follow them on LinkedIn, Twitter, and Facebook.

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Archives, Global Trade Daily

The Diesel Crunch Remains Persistent

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On a June summer day, back in 2019, the Philadelphia Energy Solutions refinery suffered a disastrous event. Explosions rocked the refinery sending vessel fragments careening 2,000 feet across the Schuylkill River. The fire was ignited by a vapor cloud caused by the release of hydrofluoric acid and hydrocarbons in the alkylation unit of the refinery. Responsible for the refinement of roughly 30% to 35% of diesel for a large chunk of the east coast, the ultimate loss of the refinery left an indelible mark on the diesel supply crunch that we’re facing today. 

Post-fire the East Coast switched to supplies from the Gulf Coast (via a pipeline), imports from overseas, and some local refineries. Diesel users were already strapped by the time Russia’s invasion of Ukraine rolled around, and that was only compounded by transportation budgets and inflationary pressures. In late June 2022, retail diesel prices boomed to an all-time high of $5.81 a gallon. The price has dropped, but the same factors that provoked the spike are firmly entrenched. 

Aside from the refinery fire and Ukraine, nearly all industries deferred maintenance work during 2020 and 2021 due to Covid. Come 2022 firms were panicked to turn a profit which further kicked maintenance down the road. As a result, many refineries will need to invest in maintenance in 2023 and that will affect planning, deliveries, and budgets. For example, the Phillips 66 Bayway Refinery out of Linden, New Jersey embarked on vital maintenance work on February 2nd. The effect on output is unknown, but the industry is prepping for a slowdown. The Bayway Refinery is a critical provider of ultralow sulfur diesel that is listed on the stock exchange (New York Mercantile Exchange – NYMEX ULSD). Delays or hiccups in restarting this facility will likely result in higher gas and diesel prices in the short term. 

Another bottleneck for the diesel supply is the European Union’s restriction on refined Russian products. Scheduled to begin in February, sanctions on Russian products will result in diesel imports to Europe from greater distances. Tankers will likely face capacity snafus that will raise shipping costs and the costs at the pump. Diesel prices in January were stable, thanks in large part to the Northern Hemisphere’s mild winter. Demand for heating oil is likely to climb, however, in February and potentially March as well. The overall feeling is the steep highs that were commonplace in 2022 will not repeat in 2023. But the outlook is still high prices as the supply woes are not abating.