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B2B Virtual Cards with a CAGR of 12.1% Drives the Virtual Cards Market Expansion

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B2B Virtual Cards with a CAGR of 12.1% Drives the Virtual Cards Market Expansion

The Virtual Cards Market revenues were estimated at US$ 338 Bn in 2021 and is anticipated to grow at a CAGR of 12.2% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 1.3 Tn.  

The need for virtual cards is increasing as more people use digital platforms and online payment methods. Furthermore, virtual cards are critical for facilitating B2B payments. Business resources can be accessed from anywhere and at any time due to their greater flexibility and simplicity. They also provide a dependable and scalable dealer payment system, mainly for international transactions. 

Retailers are adopting payment processing technologies to offer customers flawless checkout experiences as their preference for online shopping grows throughout the world. Payment gateway systems are in high demand among retailers since they make payments more convenient. Payment gateways are also utilized for in-store purchases, allowing customers to pay with their cellphones or over the internet. One of the most inherent benefits of virtual cards is their ability to provide additional security. Virtual cards, unlike actual cards, cannot be reported stolen. Individuals and corporations have found virtual cards to be an appropriate payment instrument for completing safe transactions while also improving expenditure visibility and transparency. 

Large retail shops are increasingly requesting digital payment solutions to allow their consumers to perform transactions while preserving social distance. Retailers employ digital payment methods including smart banking cards, point-of-sale systems, and e-wallets to shorten checkout times. At the same time, businesses are working on offering customers novel payment options. 

Competitive Landscape 

The leading players in the global Virtual Cards market are BTRS Holdings, Inc.; Fraedom Holdings Limited; JPMorgan Chase & Co.; Marqeta, Inc.; Mastercard; and Skrill USA, Inc. 

·       In October 2020, Aliant Payments announced the expansion of XRP, an open-source alternative digital asset, to its CryptoBucks crypto payment phone app enabled by Aliant Payments. XPR would be accessible as a mobile app including both Android and iOS. 

·       In July 2020, ParkMobile, a parking solutions company, announced an agreement with EasyPark, a facilities services company. The previous firm facilitated contactless payments across Vancouver as a result of this collaboration. 

More Insights Available 

Future Market Insights, in its new offering, presents an unbiased analysis of the Virtual Cards Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032. 

The study reveals extensive growth in the Virtual Cards Market in terms of Product Type (B2B Virtual Cards, B2C Remote Payment Virtual Cards, B2C POS Virtual Cards), and Deployment Type (Consumer Use, Business Use, Others), across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa). 

About ICT at Future Market Insights 

Future Market Insights’ highly educated Information Technology and Communication team provides insightful research, real-time insights, and effective suggestions to customers all over the world with their relevant business intelligence requirements. For over a decade, the team successfully examined the Information Technology business throughout 50+ nations, with a repertory of over a thousand studies and 1 million-plus data points. The group offers unrivaled end-to-end research and advisory expertise. Please contact us to see how we can assist you. 

fulfillment ecommerce B2B international e-commerce global trade

7 Steps to International Growth For B2B ECommerce Brands

Winning cross-border customers requires a focus on both strategy and execution

Despite supply chain disruption, geopolitical unrest, and economic pains, the global B2B eCommerce sector is booming. Cross-border deals now account for at least 25% of American B2B operators’ sales, according to a recent survey, and that trend is only set to increase as new technologies make it easier for B2B sellers to expand their brands into new markets.

 But while it’s never been easier to sell internationally, achieving lasting success requires new strategies. From marketing to payment, and from sales to fulfillment, new markets bring new complexities, and B2B brands need to adapt and invest in order to succeed.

 Here are 7 key areas that B2B brands should focus on as they expand into cross-border digital commerce:

  1. Refine your marketing strategy

B2B sellers are increasingly seeking to provide consumer-grade experiences for business buyers with personalization and media-rich marketing and sales tools. It’s important not to abandon that approach when expanding internationally. Outsourcing this work to local partners can be effective, but most brands handle cross-border marketing themselves to avoid extra costs and delays.

The first step is to recognize that some parts of your marketing strategies will work in new markets, and some won’t. Be prepared to devote additional resources to this effort: you might need more market research, new lead-generation resources, or regionally tailored advertising and marketing campaigns. To support this process, be sure to measure sales and marketing KPIs on a market-by-market basis in order to identify areas where work is needed.

  1. Take localization seriously

Catering to customers in new foreign markets isn’t as simple as running your existing website through an automated translation tool. Machine translation can’t account for cultural nuances: English marketing materials tend to be more casual and concise than those in German, for instance, which often take a more descriptive approach and highlight specific product features.

Differences abound between English-speaking markets, too: Canadian, American, Australian, and British buyers all have different sensibilities and different linguistic quirks. Content for Middle East and South Asian markets might need to be further localized for Right-to-Left languages such as Arabic and Hebrew. Paying attention to details of this sort reflects on your brand’s professionalism and credibility, so don’t neglect it!

  1. Get pricing right

International expansion obviously requires the ability to take orders in a range of currencies, but you’ll also need to pay attention to hidden costs such as shipping and customs fees. Business buyers hate these sorts of last-minute add ons as much as regular consumers, so make sure you’re clear about exactly how much a cross-border transaction will cost you and your customer.

Beyond these considerations, it’s important to be mindful of local pricing norms: in some areas, customers will expect to see price lists include local taxes, while in others taxes are displayed as a separate line item at the checkout stage. Make sure your eCommerce platform supports payments in local currencies and gives you the flexibility to customize the checkout experience for a range of different buyer expectations.

  1. Take compliance seriously

Taking a brand across borders means having to deal with taxation requirements in different countries. For instance, selling in British or European markets may require the ability to handle VAT appropriately, and to remit VAT returns and additional tax forms correctly — a new layer of complexity for brands that are used to American sales tax laws. 

Tax compliance isn’t the only concern: start selling overseas, and you may find yourself subject to new data privacy rules that impact your ability to collect customer data, or to use customer information for marketing purposes. Violations can lead to substantial fines, so be sure that you’re aware of any local requirements for the jurisdictions you’re selling into.

  1. Review payment options

Processing payments is crucial to B2B eCommerce success, but customers’ preferred payment options vary from one market to the next. Payment methods such as Apple Pay and Paypal might be available globally, but adoption varies significantly from one market to the next. Other payment methods might carry fees for international transactions, or require extra time to process a cross-border payment.

B2B merchants also need to consider the cross-border effectiveness of their credit card processors and payment service providers, as not all will work in the regions they’re targeting. Staying current on local regulations regarding chargebacks, refunds, and contract law is also a good idea.

  1. Make ordering transparent

Expanding a B2B eCommerce brand into foreign markets necessarily complicates the fulfillment process, so it’s important to be as clear as possible with buyers about issues relating to product availability, shipping times, and potential delays or disruption.

Given ongoing supply chain challenges, a brand’s ability to provide customers with a robust and predictable shipping and delivery experience can go a long way. Digital commerce tools can help by allowing brands to collate real-time information from multiple suppliers and shippers, and communicate that information to buyers as part of the RFQ or purchase process.

  1. Streamline international fulfillment

Shipping across borders can be complicated, but as international orders grow more routine, buyers are expecting orders to be fulfilled promptly and without hiccups. Building a global network of fully owned warehouses and distribution centers is challenging for even the biggest brands, so developing relationships with fulfillment partners in key markets is important.

Connecting these partners to your online store is essential for smooth data sharing. Brands will also need to have a strategy for returns embedded in their shipping and fulfillment processes, and to communicate clearly with buyers about how such issues will be handled.

Poised for growth

For B2B brands, selling across borders is an important growth opportunity — but it brings unique challenges with which merchants that are used to playing on their home turf can sometimes struggle.

To reach global customers, brands need to build out marketing, sales, and fulfillment infrastructure capable of adapting to local needs, overcoming a range of new challenges — and still delivering the consistent excellence and personalized services that business buyers now expect.

Opening up foreign markets and meeting the demands of international customers won’t come easily. But by building a network of partners, deploying robust technology, and putting the customer first, brands can build a solid foundation for cross-border expansion.

Author’s Bio

Yoav Kutner is the CEO and co-founder of Oro, Inc, which has created OroCommerce, the No.1 open-source eCommerce platform built for distributors, wholesalers, brands, and manufacturers. Yoav previously co-founded and served as the CTO of Magento.

ARRIVEnow™ Launches as the Technology Brand of Arrive Logistics

Unified platform uses technology, data science and talent to customize solutions for transportation partners and increase employee productivity

ARRIVEnow™ Launches as the Technology Brand of Arrive Logistics, Delivering Optionality and Enhanced Customer Experience for Shippers and Carriers

Arrive Logistics, a leading multimodal transportation and technology company headquartered in Austin, Texas, recently introduced ARRIVEnow, the suite of proprietary digital solutions created to increase productivity and drive efficiency for its shippers, carriers, and employees at scale.

ARRIVEnow is a cloud-based native technology platform that uses machine learning models and human expertise to support the most complex transportation challenges. Over the next three years, Arrive will invest more than $120 million into ARRIVEnow software development, led by a growing team of more than 250 engineers, data scientists, and product management professionals. Arrive will hire more than 3,000 team members across sales, client success, and business operations through 2025 to complement that investment and further drive growth.

Investing heavily in developing purpose-driven technology and a team of experts is the Arrive copilot strategy. Implemented at every level of the company, the copilot strategy uses human-centric automation and omnichannel solutions to increase productivity and drive efficiency – without replacing the importance of close relationships.

The ARRIVEnow platform is comprised of two elements–digital solutions offering optionality and streamlined operations for shippers and carriers, along with tools for employees to optimize performance and delivery to Arrive’s partners:

  • ARRIVEnow is the proprietary Transportation Management System (TMS) for Arrive employees. It is backed by algorithms that automate operational tasks. For example, ARRIVEnow’s matching algorithm ensures that each load is paired with the right carrier every time, reducing empty miles and carbon emissions– ARRIVEnow has saved 90 million kg of CO2 this year, in deadhead reduction alone.
  • ARRIVEnow Carrier is a one-stop freight management portal that enables carriers to find, bid on and book loads instantly using a mobile device or desktop browser, with access to 24/7 customer support. The portal is accessed by over 50,000 active carriers representing more than one million power units. By 2023, ARRIVEnow Carrier will offer over 5,000 transactional truckload shipments to its carrier network daily.
  • ARRIVEnow Shipper, which provides instant pricing for over 500 shippers through integrations, is adding to its suite of digital solutions by launching a web portal in early 2023. On top of their enterprise integration offering, ARRIVEnow Shipper will provide SMB shippers access to receive instant quotes, tracking updates, and manage documents from any device.

This year, Arrive will have opened three new office locations in San Antonio, Texas, Tampa, Florida, and Guadalajara, Mexico. In 2023, the company will open additional offices, beginning with Phoenix and Columbus in the first half of the year.

About Arrive Logistics

Arrive Logistics is a leading multimodal transportation and technology company delivering unparalleled service and custom strategic solutions. With over 1,500 employees, 6,000 customers, and 70,000 carriers in its network, Arrive is one of the largest firms in the freight brokerage industry, with projected $2.4 billion in 2022 revenue. The company has been recognized as a top workplace by Inc., The Austin-American Statesman and The Chicago Tribune.

U.S. Small Businesses Nearly Doubled Revenue, Report Being Impacted by Inflationary Pressures

Kabbage from American Express issued the seventh installment of its Small Business Recovery Report, which tracks the recovery trends and growth outlook of U.S. small businesses. Polling 550 small business leaders, the latest report shows that the businesses surveyed have nearly doubled monthly revenue between July 2021 and July 2022 while profits slightly declined amidst economic hurdles. They are facilitating growth by modifying their business tactics – offering increased benefits and flexibility for workers along with investing in digital transformation. 

U.S. small businesses are adjusting to not only survive but flourish during challenging economic times.  Inflationary pressure and challenges with hiring and retaining talent, among other factors, are driving small businesses to fine-tune their business practices.

Offsetting Economic Costs & Supporting Growth

In the June 2022 Small Business Recovery Report, the data showed 80% of small businesses are confident they could withstand a potential U.S. recession. The data from the latest report helps illustrate why. Since March 2021, the Small Business Recovery Report has captured self-reported revenue and profits from small businesses across the U.S. Cross-analyzing the survey results between July 2021 and July 2022, the data shows U.S. small businesses revenues have increased on average by 87%. 

While revenue is up, the data also revealed overall profits among U.S. small businesses have slightly declined 4% over the same time period. The data shows small businesses continue to anticipate future economic obstacles as 75% of respondents report feeling impacted by inflationary pressures and 56% expect pressures to last at least a year until summer 2023. 

Yet, small businesses are actively balancing increased costs. From the latest Small Business Recovery Report, 37% stated they plan to raise prices, 22% aim to negotiate better deals with suppliers, and 22% are cutting lower margin products and services from their offerings. An additional 33% of small businesses plan to prioritize customer relations and strengthen customer loyalty to help increase future revenue. 

The New Way to Work Is Working

As small businesses contemplate costs, they’re also rethinking how best to navigate employee recruitment and retention. 47% of all small business respondents reported that inflation is impacting their labor market by pushing them to accommodate and compensate for higher healthcare, enriched employee benefits and more frequent pay raises. 

Small businesses are also leaning into the new way of work by offering hybrid and remote work options. 49% of small businesses have started offering flexible work options to stay competitive in the labor market with hybrid work (27%) being the most popular option. This has proven effective as 77% of respondents reported it has made a positive impact on their ability to attract new employees. 

When analyzing hybrid and remote working options by business size and age, the highest adoption rate is among businesses less than two years-old (57%); and these options are nearly twice as likely to be implemented among the largest small businesses compared to the smallest small businesses. 

Expanding Investments for Growth

U.S. small businesses feel a heightened need to invest in areas for growth. The top two areas of focus were prioritizing digital transformation (41%) and digital marketing, as 47% stated they have increased digital marketing spend already this year.

When asked to better define this digital transformation, 29% of all small businesses stated they aim to strengthen their data analytics capabilities while nearly one third (31%) of respondents want tools to reexamine their cash flow to help predict future financial gaps. Further, 29% of small businesses are prioritizing mobile and are investing to build a mobile app for their small business. 

Small businesses are capitalizing on social media advertising as 47% expect it to have the greatest impact on customer acquisition. Facebook is reported as the top platform of choice among small businesses, nearly double that of the second choice, Instagram. These are followed by YouTube, LinkedIn and Twitter; then followed by TikTok, Pinterest, and Snap.

 

 

hybrid production

How to Increase Sustainability in Production

There’s an abundance of people in the world, and that requires an abundance of resources. Approximately 8 billion people need to eat, drink, wear clothing, and live in homes. And more people are interested in cars, computers, toys, and other goods that require production and manufacturing. This demand will only grow with time, and unfortunately, that means more pollution as well.

Carbon dioxide emissions released by fossil fuel combustion and industrial processes rose by roughly 35% globally between 2000 and 2020. As climate change’s impact continues to unfold, governments, communities, and concerned citizens worldwide will likely expect meaningful change from businesses in every sector, especially manufacturing.

Sustainable manufacturing means creating goods in a way that minimizes the environmental impact, including the use of energy and natural resources. If we don’t take actionable steps to create sustainable manufacturing companies, the problem will only worsen. Thankfully, the technology of today is ready to combat tomorrow’s increased consumption. Through predictive maintenance tools and prioritizing both machine health and process health, manufacturers can journey forward to sustainability in manufacturing.

Obstacles to Sustainable Manufacturing

Much of the problem for manufacturing leadership lies in thin profit margins. A recent study found the average manufacturer loses 12-15% on energy consumption due to inefficient machinery.

This waste compounds the obvious pollution problem. When calculating how much CO2 is produced to manufacture beverages, for example, we need to account for not just the completed production, but also the defective products. The most sustainable option would be to close up shop — but that’s obviously not an option. People rely on manufactured goods, which means manufacturers need to fight the uphill battle to create more sustainable manufacturing.

You must invest in multiple areas — equipment, knowledge, and training, among others — to improve sustainability. That leaves manufacturers stuck between a rock and a hard place. On the one hand, it’s expensive to upgrade to sustainable manufacturing, but on the other, manufacturers can’t remain ethical and competitive otherwise.

The reality is that we need this industry. That’s why agencies like the EPA are focused on helping manufacturers do their part in rebuilding a strong, sustainable infrastructure post-pandemic. But how are sustainable manufacturing companies staying profitable?

Achieving Sustainability in Manufacturing While Making a Profit

Manufacturing involves a lot of complicated machinery that needs to be perfectly calibrated to perform simple commands in a production line. This allows them to achieve complex, dynamic things at a scale limited only by human effort. Of course, this is where artificial intelligence is really changing the game — evolving data insights past human limitations.

The right AI, when built specifically for manufacturing, can provide both a bird’s-eye view of the production lines and a deep dive into its inner workings. Done properly, this AI can act as a decision-making tool that looks at all your processes and constantly learn how to improve them. By applying purpose-built AI to production lines, manufacturers gain access to thousands of complex calculations every minute.

And with the right algorithms to help digest it all, manufacturers gain powerful insights into important operational questions: When are machines most likely to fail? Which parts are most critical to the machine? What’s the optimal way to run the production line? Having these answers makes the entire production line more efficient while also improving production health and safety. By adopting AI solutions for manufacturing, you gain a cheat code to resolve all the problems that are too complex for manufacturing teams to handle, no matter how much experience is under their belt.

Not only does AI aid in design for sustainable manufacturing, but it can proactively monitor machines to enable predictive maintenance. Machine health can be continuously monitored through a series of sensors that provide real-time insights into how each cog in the machine is performing, and process health allows you to optimize quality, yield, waste, and every other manufacturing metric while minimizing downtime. As factories optimize, the amount of waste (and pollution) will naturally decrease.

With AI in place, production health becomes achievable. As machines run better, profit margins grow, allowing for scalable investment in sustainability. And there are three steps that can make it happen now.

  1. Evolve Past Traditional Mindsets

Imagine you’re given an impossible task, such as being both sustainable and profitable without using AI. Often, the solution is to ignore sustainability, as it’s a long-term issue with delayed consequences. Over time, the problem never goes away; it only continues to become an obstacle for the business.

Burying our heads in the sand isn’t running a business; it’s an avoidance tactic. Our mindset must evolve alongside technology. AI-enabled machine health and process health always find the perfect balance between sustainability and profitability. While this scale is a moving target, these AI insights mean there’s no need to compromise.

  1. Create Change Management Processes

Once manufacturing executives open their eyes to what’s possible, they need to plan a roadmap for the next 20 years. The next generation of your team will work in completely different ways; change is the only guarantee in business. This means every manufacturer needs a solid, well-documented change management process.

AI insights work faster than we can, which means changes can come at an incredibly fast pace. This can be overwhelming for a team, so make sure everyone feels prepared. A solid change management process will help the team adapt more quickly, meaning less time is spent getting the team on board and more time focusing on real innovations.

  1. Leverage Existing Tools

Production changes are inevitable, and AI can also help in this transition. A solid platform can track assets to optimize resources. It’s not uncommon for things to get overlooked as a company expands, and some companies may not be aware of all the tools they have available, leading to costly repeats.

Sustainability in manufacturing isn’t a new concept, and the right software solutions can optimize any equipment still in use. We often talk about AI and machine learning as the future, but the reality is that it’s already on the market and in use. Not only that, but it’s much more sophisticated than it was a decade ago.

This means the transition to sustainable manufacturing is best addressed sooner rather than later. European regulations are already tightening, and it’s only a matter of time before the United States follows suit. In fact, regulations throughout the world are quickly changing in the pandemic’s wake, and CO2 emissions are always at the top of legislative lists.

Starting (or continuing) the transition to sustainability in manufacturing may be the most important thing you do today.

Author’s Bio

Liran Akavia is a serial entrepreneur who specializes in the fields of AI and manufacturing. He is the co-founder and former COO of Seebo and now works as the VP of Sales for Process Health at Augury, a digital machine-health company building a future where people can always rely on the machines that matter.

 

builder

Website Builder vs. Coding: Which one is Better to Make a Website?

Starting your business means you require multitasking abilities. To put it in short, you need to become capable in all things.

Something noteworthy that you need to do is to find out how websites are developed as it will be a foundation for your web-based business card. So start searching for topics on this subject on Google.

If you are planning to develop a website, you have two choices: Coding or Website Builder. This article will assist you with concluding which choice is ideal for you.

As you develop your business from the beginning, a website for it is one of the subsequent stages you’re probably going to take. You might need to make your website if you need full creative control, or you might choose to recruit a web engineer and designer to finish the work for you.

At this stage, you want to conclude whether you utilize a website builder or hand coding while creating the website for your business. That sounds like a clear decision, yet there’s a ton to consider. This guide will bring profound details of the upsides and downsides of utilizing hand coding and website builders. We should distinguish them so you can conclude which is better for your website.

Coding a Website

While building a website utilizing coded HTML and CSS, the coding language is written in the manner the website looks.

This gives you full creative command over the result. This is particularly valuable assuming you have a creative vision for a website that is not the same as the rest of the market.

How a Coded Website Works

At the point when you do website improvement utilizing a coding language, it constructs the website by utilizing HTML and CSS. Assuming that you’re curious about HTML and CSS, here’s a short outline for you.

Coding a website, yourself allows you to have unlimited authority over the website. You can pick the varieties, text styles, and other design parts of the website. This gives you a greater adaptability during this interaction.

The Advantages of Hand Coding

1. When you use hand coding to construct your website, you’re ready to control the result all alone.

2. Hand coding isn’t costly. Contrasted with hiring somebody to accomplish the work for you, it’s not costly by any means.

3. One of the extraordinary things about coding is that you can gain some significant knowledge about how to construct a website. This can be valuable for you to comprehend how to make minor alterations to the website or even how to fabricate a website without any preparation.

4. You can make a website with as many features as you need — and you can make them the very way you believe they should look.

5. When you use hand coding, you can decide to allow your website to stack powerfully or to stack it in a more smoothed-out style.

6. With hand coding, you can alter the website depending on the situation so it accommodates your business objectives.

7. With hand coding, you have unlimited authority over what features your website has. You can likewise refresh the website content whenever.

Utilizing a Website Builder

Taking a gander at the opposite side of website improvement, you can utilize the best website builder to make your website. A website builder is an application that empowers you to make a website with next to no coding knowledge.

Website builders are perfect for individuals who have very little involvement in coding. They’re likewise great for individuals who are working with a restricted financial plan.

The Advantages of Using a Website Builder

1. Website builders are quick and simple to utilize. At the point when you make a website with a website designer, you can make the website ready rapidly.

2. Website builders are perfect for novices. On the off chance that you have relatively little involvement in coding, or you haven’t had a go at coding previously, a website builder will be exceptionally useful to you.

3 Website builders’ creative apparatuses permit you to add an activity, pictures, and different components to the website. These instruments permit you to do things уоu wоuld don’t have the option to do with simple hand coding.

4. When you need to add another element to the website, you can utilize a website builder to do as such. This can be a simpler choice than hiring somebody to accomplish the work for you, which is considerably more costly.

5. Website builders frequently have superb customer support. This can be an incredible choice if you want assistance with an issue or on the other hand if you have inquiries regarding how to utilize the website builder.

6. When you utilize a website builder, you have restricted design choices. The website builder will give you the choice to pick a design or tweak the design to accommodate your image.

7. If you have no coding knowledge, you can utilize a website builder to make a website. This makes it a decent choice for organizations that need to find business success yet don’t have what it takes to fabricate their website.

Website Builders Vs. Coding

Taking a gander at every one of the distinctions between the two choices, you could contemplate whether you ought to utilize a website builder or on the other hand if you ought to hand code your website. The decision relies upon your necessities, business objectives, and financial plan.

At the point when you want to fabricate a website rapidly and economically, a website builder might be the best decision.

The Bottom Line

For individuals who have practically no coding knowledge, a website builder is a decent choice for building a website. Nonetheless, for people who have a huge load of cash and need better outcomes, hand coding is logically the ideal decision. You might need to attempt both to see which one is best for your business objectives.

wind Environmental hyperion

Ship & Shore Environmental Helps Enhance Manufacturing Sustainability in Overburdened Supply Chains

Global supply chains remain under pressure even as consumer demand continues to rise. All industries are working through supply challenges to meet this demand while maintaining or even improving on “green” sustainability efforts. Packagers are critical in such pursuits. Whether glass, cardboard, aluminum, or other materials, packaging plays a role throughout every supply chain. Improve emissions with packaging manufacture, and the positive impacts ripple outward to all downstream users, “greening” the entire supply chain. Ship & Shore Environmental (S&SE), a multinational environmental pollution abatement and energy solutions firm, offers guidance and platforms for packagers and other supply chain organizations in need of meeting urgent market demand without adding to environmental, logistical, and regulatory concerns.

Managing Packaging’s Impact

When improperly managed, packaging can be an egregious contributor to that supply chain environmental waste. Wastes from plastics are commonly cited, but aluminum production can yield greenhouse gases, sulfur dioxide, and polycyclic aromatic hydrocarbons. Paper and paperboard manufacturing create carbon monoxide, sulfur dioxide, and volatile organic compounds.

S&SE creates a broad line of abatement solutions that allow packaging manufacturers to mitigate the hazardous waste from these processes. Among several similar examples, two organizations that recently deployed S&SE solutions include:

·     A century-old industry leader in film conversion and the production of flexible packaging. The manufacturer’s clients span the food, snack, pet care, household, and health and beauty industries. Processes are highly chemical-intensive, involving polypropylene as well as metalizing, cold seal applications, and 10-color conventional and “extended gamut” flexographic printing.

·     A subsidiary of a large flexographic printing and packaging company that specializes in security packaging systems. The firm services clients across diverse industries including e-commerce, pharmaceutical, banking, armored carriers, retail, restaurant delivery, law enforcement, duty-free/air travel, healthcare, laboratories, and cannabis.

Both manufacturers play large roles in world-scale supply chains, even though those chains address disparate market segments. In each case, the manufacturer addressed greenhouse gas emission abatement in its manufacturing line with energy-efficient S&SE regenerative thermal oxidizer (RTO) systems.

Keeping Supply Chains Sustainable

Sustainability remains a critical issue for all nations and the world’s future health. Air pollution inflicts widely understood harm on people and environments alike. As noted in the environmental conference paper “Pollution and its Impact on Sustainable Development,” pollution contributes to declines in agricultural and animal production, declines in labor productivity (due to worker suffering), and high costs associated with social and economic fallout from dealing with pollution, which in turn draws funds away from R&D and potential industrial advances.

In short, unchecked pollution hurts people as much as industries. Conversely, companies that take sustainability seriously tend to reap ROI benefits. The McKinsey study offers the example of British retailer Marks and Spencer, which “generated £145 million in net benefits in 2013–14.”

As noted above, cleaning up packaging emissions can yield outsized sustainability benefits that can aid the efforts and reporting of downstream users in the supply chain. This is especially fortunate as increasing numbers of companies are demanding that their supply chains meet governmental sustainability laws, such as California’s 2006 Toxics in Manufacturing Prevention Act. S&SE dedicates many resources to staying abreast of such regulations around the world and counseling both companies and governments on how to integrate pollution abatement into their efforts. Some of that counseling results in systems deployment; all of it results in more informed decision makers taking an ever more influential role in shaping the livability of our planet.

About Ship & Shore Environmental, Inc.

Ship & Shore Environmental, Inc. is a Long Beach, California-based, woman-owned, certified business specializing in air pollution capture and control systems for industrial applications. Ship & Shore helps major manufacturers meet Volatile Organic Compound (VOC) abatement challenges by providing customized, energy efficient air pollution abatement systems for various industries, resulting in improved operational efficiency and tailored “green” solutions. Since 2000, Ship & Shore has been prepared to handle and advise on the full spectrum of environmental needs with its complete array of engineering and manufacturing capabilities and global offices around the U.S., Canada, Europe, Middle East, and China. The Ship & Shore Technical Engineering Team has custom designed tailored solutions for clients throughout the world.

supply ICYMI – Former Congressman: Let’s not Make America’s Supply Chain Challenges Worse benchmark

How Logistics Startups are Tackling Global Supply Chain Challenges

Highlighting the startups to watch in the current investment climate

The logistics industry has attracted over $100B in venture funding and produced over 40 unicorns, including 15 such exits, since 2015. Global venture investment in the logistics industry increased ten times during this period.

The largest winners have been last mile consumer marketplaces such as Doordash, Deliveroo, and Postmates. Multi-modal freight companies such as Flexport and Convoy in the US and Manbang and LalaMove in China have also exceeded unicorn status or $1 billion valuations. Investment initially focused on last mile delivery, multi-modal efficiency, and reducing industry fragmentation through consolidation. The onset of COVID brought additional attention to supply chain resiliency and flexibility.

My team and I have actively invested in logistics and transportation for a decade and have made over 20 investments – including six unicorns – across the US. Europe, and Asia. In this article, I will dive into the recent trends and opportunities in the logistics industry, and explore how startups and scale-ups, are working on tackling global supply chain challenges.

Supply Chain Resiliency and Flexibility

For the past three decades, companies and logistics firms have focused on cost and inventory reduction. This approach optimized efficiency during stable conditions, yet COVID highlighted implicit costs of supply chain rigidity when disruptions occur. McKinsey has found that supply chain disruptions lasting more than one month occur every 3.7 years costing companies about 40% of a year’s profits every decade on average.

Companies are focusing on supply chain resiliency and flexibility to optimize across the full product lifecycle including anticipated disruptions. Multi-modal logistics providers such as Flexport and Next Trucking have found opportunities for efficiency and resiliency as multi-modal nodes increase. Others like Stord, Flexe, and Spacefilll offer flexible warehouse solutions to dynamically route product flows.

Supply Chain Intelligence

 Data lakes can easily become muddy ponds as complex, fragmented supply chains tend to produce dirty data. Walmart, Volkswagen and Nestle each reportedly have over fifty third-party logistics providers leaving their customers to contend with a plethora of siloed data. Adding further complexity, producers know their direct suppliers but lack visibility into their myriad indirect suppliers across long  value chains.

Muddy data frustrate efforts to derive actionable insights. The logistics industry generally does not run on a modern software stack. Instead, companies are saddled with old software and technology debt with balkanized data siloes that frustrate the adoption of leading analytics software.

A new generation of software companies is emerging to address these challenges. Startups such as Project44, FourKites and Shippeo offer supply chain visibility solutions to help companies monitor the flow of shipments and adjust in real-time disruptions. Pando and CognitOps offer solutions to optimize workflow within warehouses.

Automation and Robotics

Over 200 robotics and automation companies exhibited in March at Modex, about a quarter of all showcased companies and over four times the number represented just a few years ago. Automation is a rapidly growing field as warehouse operators explore solutions to deal with increased throughput volume, tight labor markets and rising operating costs. The payback period on automation solutions is declining as robots become more dexterous, efficient, and intelligent.

SVT Robotics offers insight into robot deployment with a solution that orchestrates automation in a multi-robot environment. Large warehouse operators report reduced labor by 30% or more as they move from pilots to broad robot deployment in the past two years.

Onshoring and Nearshoring

 In 2021 Intel and TSMC both broke ground on large semiconductor fabs in Arizona. Intel and TSMC are expected to invest $20 and $12 billion, respectively, which will onshore chip production previously fabricated in Asia.

Multinational companies across many industries are moving production onshore or nearshore. As global supply chains fracture with trade wars and COVID, reshoring production improves supply chain risk and resiliency. The U.S. government has announced over $100 billion in investment to improve transportation infrastructure in support of these initiatives.

Automation is also improving the unit economics of reshoring independent of political considerations. Multinationals have offshored manufacturing for decades to reduce production costs with lower cost labor. Robotic automation reduces labor arbitrage making it less costly for onshore or nearshore production in many cases. Automation also helps disaggregate production enabling companies to onshore some processes even if core production operations remain overseas.

Electric Vehicles

 Electric vehicles are getting traction in the logistics industry much as in the consumer sector. Rivian, which received a $700 million investment from Amazon in 2019, doubled its production rate in the second quarter and claims to be on pace to produce 25,000 vehicles in 2022.

Electric vehicles are also unlocking new modes of distribution. Over 150,000 cargo bikes have been sold in Germany and France in the past year integrating with logistics providers to improve last mile delivery efficiency while reducing congestion and emissions in cities.

Investment Prospects and the Economy

 Predictions are hard, especially those about the future. Stock markets slid well into bear market territory in June as NASDAQ dropped to 33% below January price levels. The United States added 372,000 jobs in June and the labor market remains tight, yet NGP Capital Q proprietary data indicates that job openings have declined by 39% since February among 12,000 venture-backed companies. Amazon, an e-commerce bellwether benchmark, announced they will cancel or defer plans for at least 16 warehouses in 2022 due to slower e-commerce sales. The logistics industry has fared better than most, yet venture funding is likely to decline in 2022 for just the second year since 2017 according to NGP Capital Q data.

While the economic outlook is cloudy, I remain optimistic about prospects for innovation in the logistics sector. Its clear significant opportunities remain to reconfigure the supply chain bringing flexibility and resiliency, offer end-to-end visibility and intelligence, and increase automation.

Downturns are a good time to be an entrepreneur. Apple, Cisco, Google, and Microsoft were founded during economic downturns. Among the nine logistics unicorns listed in the first paragraph, seven were started when venture funding was relatively scarce. Low tides favor capable entrepreneurs as they can build companies with fewer copycat competitors and with less cash over longer timelines meaning less ownership dilution for management and investors alike.

Paul Asel is a partner at NGP Capital. NGP Capital is a global venture capital firm with over $1.6 billion under management, investing in growth-stage technology companies within the Edge Cloud, Cyber Security, Digital Industry, and Digital Transformation. NGP Capital backs entrepreneurs building a responsible and inclusive world where the confluence of sensors, mobility, software, and cloud solutions will connect people and industries in new ways, transforming how we live and work. Since 2005 NGP Capital has invested in more than 100 companies, 18 of these have achieved unicorn status. NGP Capital is active in Europe, U.S., and China. Visit www.ngpcap.com for more information.

management

Important Advantages of Tender Management Software

Tendering may be a difficult process for construction businesses that interact with third parties. Managing many contracts and proposals at once without the necessary tools may result in a lack of control over projects and relationships. However, more businesses are beginning to see the value of a tender management tool. Let’s take a closer look at four of the primary benefits.

Tender management may be a difficult procedure for construction businesses that interact with third parties. Without the proper tools, you may find yourself handling many contracts and proposals at the same time, resulting in a loss of control over projects and relationships. However, more organizations are seeing the advantages of a tender management tool. Let’s take a deeper look at four of the most important advantages.

Simplifying stakeholder administration
Assume you’ve issued a large tender to build a new bridge. A project of this magnitude may necessitate the involvement of several parties, including government agencies, construction businesses, architects, and design firms. To move forward with the project, the stakeholders will need to approve several stages. A good tender management process provides a clear overview of all stakeholders who are involved, their importance, and what role they are playing, giving you more control over your project stages.

Lowering the possibility of duplication
Along with managing stakeholders, managing numerous opportunities may be a difficult element of the tender management process. Construction suppliers are sometimes pitted against multiple other firms competing for the same job at the same time. Only one will emerge victorious, which is where good predicting comes in.

Forecasting gives your Sales Manager visibility into how many quotes you have for the year and ensures that you don’t double-count quotations in your pipeline, allowing you to select the one most likely to win the bid. You may uncover opportunities with individual demand with the extra tender management capability provided with Dynamics Tender Management linked into your Microsoft Dynamics 365 for Customer Engagement environment. You prevent double or treble counting one product or service sold for the same project this way.

Making computations clear in order to expedite approval
Many permissions may be required following the qualifying of a tender opportunity in order to take it to the next level. Most major projects include complicated calculations, making it difficult for top management or legal departments to evaluate, comprehend, and sign off on them. This can lead to project delays as well as lost time and money.

Because specialist software is frequently used to generate quotations, including this step into the tender management process or making it visible inside CRM is critical. CRM solutions, such as Microsoft Dynamics 365 for Customer Engagement, may handle the connection with such software, ensuring that all parties have access to the correct information and assisting them in making a better-educated choice about signing off on a quotation.

Increased document control
Tender administration might need a significantly different strategy than typical sales operations, with countless documentation from diverse suppliers and partners to maintain. To prepare a proposal for a significant building construction project, for example, you may require third-party input from architects and other vendors. Traditionally, this is done through email or file-sharing services.

Your sales team can monitor all project phases using Dynamics Document Manager and Dynamics Tender Management as part of your comprehensive tender management process. This saves time by avoiding switching from one system to another and improves version control. You can increase confidentiality and minimize circulation with Microsoft Dynamics 365 Customer Engagement and Dynamics Tender Management. For example, if many stakeholders must sign off, your papers may be housed in a safe location with suitable privileges configured for the appropriate persons.

More information on tendering

If you want to participate in a forthcoming bidding procedure, you should strive to gather as much information as possible on the current bids in your business. To go on, you should visit a few online tendering websites where you may discover updated information on the newest bids in various areas.

If you engage with other parties, the tender procedure may be difficult. Without the correct tools, you may be required to handle different contracts and services at unexpected times, which will most likely make it difficult to govern the projects and connections. Most organizations, however, are already adopting tender management software. The program may assist you in managing many papers, streamlining the stakeholder management process, reducing the risk of duplication, and so on. Overall, it may assist organizations in making sound selections.

NaVCIS section 321 freight-forwarders shippers carrier newtrul technology port ship4wd lane

Freight Forwarding: In a Sea Full of Forwarding Fish, be a Whale

With thousands of fish in the sea of forwarding operations, be a whale

Just about everything in logistics can now be digitized. The industry has access to an astonishing number of technology platforms that can perform almost any conceivable function – from securing rate quotes and locating carrier capacity to freight visibility and dock access.

Freight-forwarders looking to bring their own unique value proposition to the industry are both blessed and cursed by the plethora of digital tools. The blessing is that digitizing functions is easy. The curse is that it’s just as easy for everyone else in the industry. And merely digitizing is no longer a value-add for an industry that’s struggling to overcome difficult challenges.

What was once the exclusive realm of tech-savvy companies is now utilized by even the smallest of competitors. The advantages that once belonged to those with access to the latest technology now belong to those who can apply the sharpest thinking to the use of that technology.

The freight forwarder who wants to stand out must add high-level strategic insight to the tools that are now available. Just providing data is no longer acceptable for freight forwarders in the eyes of their customers. The Targets, Walmarts, and Krogers of the world require actionable data that not only tells them what’s currently happening but also provides insight into steps that should be taken next. Forwarders must take the extra step and become customer driven in order to remain competitive.

Harmonizing customer needs with technology solutions during the onboarding phase.

 It’s often said that if the only tool you have is a hammer, every problem looks like a nail. Freight-forwarders who invest in certain digital technology may be tempted to recommend the “solution” that doesn’t address the customer’s problem but rather fits with the capabilities of the digital technology the forwarder wants to use.

With so many kinds of technology available, there is no reason for this approach. Freight-forwarders need to objectively consider all capabilities of every available platform, then design applications that work to solve specific problems of specific customers.

One factor that can complicate this approach is too many software implementations. What’s needed is an integration platform that brings together different technologies and aligns them to speak the same language. The marketplace is seeing high demand from companies who want more technology options – without having to grapple with the many different platforms.

When companies in the supply chain industry can plug their legacy systems into modern API-based SaaS tools to better manage things like freight visibility, pricing and compliance risk, the real strategic thinkers are in a better position to achieve the best solutions, while freeing up people to perform customer relationship duties.

Thinking strategically about where to invest in digital assets.

More digitization doesn’t necessarily lead to a market advantage. The best strategy for investing and deploying digital assets is to align them with a company’s existing brand and service offerings.

Company leaders should ask: Where do we already offer industry-leading ideas and insights? What kinds of value does the industry trust us to deliver?

Investing in digital assets to bolster those areas of strength is the best way to find a unique positioning in the market.

Of course, it’s always worthwhile to consider establishing new services that can benefit from digital tools. But either way, the key is to strategically tie digital investments to a company’s strategic positioning and capabilities.

Aligning new digital technologies with a familiar TMS.

One advantage of cloud-based technologies is that they can be aligned with a company’s existing TMS. Rather than making companies deal with a series of individual software deployments, the smart move is to simply integrate them with the system company leaders are already using – so they become one more feature in an already familiar system.

This makes it possible to move quickly past the difficult deployments and into the impact phase of heightened visibility and all-around better information. It is one of the most frequent things our clients mention as a priority.

And the industry needs effective tools like this right now. The Federal Maritime Commission is looking for better ways to examine shipping data and determine existing constraints to help the flow of cargo. FMC Commissioner Carl W. Bentzel says this will start with an examination of data already available to the public.

Some of the best data is in the TMS systems of companies that have integrated their digital assets. The most effective freight-forwarders, having made these strategic technology investments, can become industry leaders by now deploying these assets to solve the biggest problems their customers face.

The tools are plentiful. The ability to see and make use of the data has never been greater. The freight-forwarders who combine those tools with the best of their own strategic thinking will lead the way.