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Importance of Translation Services in Logistics

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Archives, Global Logistics, Global Trade Daily

Importance of Translation Services in Logistics

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Logistics is a critical component of global trade. Effective communication is essential in logistics to ensure that shipments are delivered on time and without errors. However, language barriers can pose a significant challenge in logistics. This is where translation services come in. This article will explore the importance of translation services in logistics and how they can help businesses overcome language barriers in global trade.

Facilitate Communication

The most apparent benefit of translation services in logistics is that they facilitate communication between businesses and their partners, suppliers, and customers who speak different languages. With translation services, companies can communicate effectively with their partners and customers, regardless of location or language.

This is particularly important in the logistics industry, where timely and accurate communication is critical. In logistics, delays or errors in communication can result in high costs and disruptions to supply chains. Translation services ensure that everyone communicates effectively, minimizing the risk of errors or misunderstandings.

Improve Efficiency

Effective communication leads to improved efficiency in logistics. This results in increased cost savings and improved overall efficiency of the logistics operation. For example, with translation services, businesses can quickly and easily communicate with their partners and suppliers to obtain quotes, negotiate contracts, and manage the shipment of goods.

Increase Customer Satisfaction

Translation services can also help businesses improve customer satisfaction in logistics. Communicating effectively with customers in their language allows companies to build trust and confidence with their customers. This can increase customer loyalty, repeat business, and positive word-of-mouth recommendations.

In logistics, customer satisfaction is critical. Customers expect their shipments to arrive on time and without errors. By providing accurate and timely information in their language, businesses can meet their customer’s expectations and enhance their reputation in the market. Rather than wasting useful time trying to communicate in different languages, translation services make it easy for businesses to keep their customers happy.

Ensure Compliance

In addition to improving communication, efficiency, and customer satisfaction, translation services can help businesses ensure compliance with local regulations in global trade. Many countries have strict rules around the labeling, packaging, and documentation of goods, and these regulations often require translations into the local language.

Bridge Cultural Differences

Finally, translation services can help bridge cultural differences in logistics. In global trade, businesses often work with partners and customers from different cultural backgrounds, and these cultural differences can pose challenges to communication and understanding.

Translation services can help businesses navigate these cultural differences by providing accurate translations that consider cultural nuances and differences. Bridging the gap between cultural differences allows companies to build stronger relationships with partners and customers, leading to more successful and profitable logistics operations.

Translation services are essential in logistics, particularly in global trade, including businesses that require automotive translation. By facilitating communication, improving efficiency, increasing customer satisfaction, ensuring compliance, and bridging cultural differences, translation services help businesses overcome language barriers and succeed in the global marketplace. As companies grow and start operating globally, the demand for translation services in logistics will likely continue to grow, making it an essential component of any successful logistics operation.

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Archives, Global Logistics, Global Trade Daily

How to Build Stronger Logistics Relationships for Successful Export Operations

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To help your export operations thrive, you must have strong partnerships to help you along the way. Companies that fail to build strong logistics relationships may struggle to send and receive their shipments on time. 

Not having a correct logistical operations process can have a ripple effect on a company. To ensure the success of your company, there are a few steps that you should take to build and maintain strong relationships for your logistics practices.

Identify Key Logistics Partners

The success of your logistical operations will be based on your successful relationships with your logistical partners. It is critically important that you can identify and work with reliable and reputable partners. You will need to select partners that can provide the services you need to get your products out to customers in good condition and at a good time. When making your selection of logistic partners, keep the following points in mind: 

  • Experience: Ensure your potential partner has experience shipping the products you want to export. Ask for references from other companies they have worked with.
  • Capacity: Can they handle the volume of shipments you need? Do they have the resources (staff, vehicles, storage space, etc.) to meet your needs?
  • Flexibility: Your shipping needs may change over time. Make sure your partner can adapt their services to meet your changing needs.
  • Reputation: You want to ensure you’re working with a company with a good reputation for quality service. Check online reviews and talk to other companies in your industry to get their thoughts on potential partners.

Having the right team in your corner can make a big difference in crafting successful export operations.

Understand the Needs of Key Logistics Partners

You must understand the needs of your logistics providers. Your goal should be to work together to meet those needs to create a smooth, successful export operation. While working to build a stronger relationship with your logistic providers, there are a few things to keep in mind.

First, you must thoroughly understand their business model and how they operate. Identify key strengths and weaknesses. This will help you better understand what they are capable of and what limitations may impact your export operations. This knowledge can also help you determine the practices you have to offer that will help to ensure seamless functionality in your partnership. 

You must also communicate your needs and expectations with your partners. You will want to provide them with all the information needed to service your export account properly.

Remain reliable and keep your promises to your partners. Trust between you and your partners will ensure you can rely on each other and provide trusted services in the long run. If you say you will do something, you should do it. This, in itself, will go a long way in establishing a relationship that is built on trust.

Be open to feedback and eager to make any necessary changes. It is crucial to understand that no one is perfect. Things will change over time. Both partners must be able to keep up with changing times. If your logistics provider offers suggestions on improving your operation, be open to hearing them and making changes if needed.

Finally, show appreciation for a job well done. Acknowledging can go a long way to maintaining a strong relationship with your logistics provider.

Offer Incentives

To incentivize your logistics providers to go above and beyond in supporting your export operations, you should develop a system of rewards. This could include financial incentives for meeting or exceeding agreed-upon metrics, such as bonuses or commission payments. 

You could also offer non-financial rewards, such as glass awards that offer public recognition. Whatever form the rewards take, they should be meaningful to the logistics providers and encourage them to continue providing high levels of support.

Attend Industry Events

If you want to build stronger relationships with logistics partners, one way to do so is by attending industry events. You can attend many events, from trade shows and conferences to networking events and educational seminars.

No matter what event you attend, you must research ahead of time to know who will be in attendance. Researching can also help you better understand the event and what you and others in attendance can bring to further your export operations. This will help you make the most of your time at the event and ensure that you meet people and potential partners.

You should use industry events to network with as many potential partners as possible. Bring business cards with you that you can exchange and be sure to follow up with new contacts after the event. If you make a good first impression, you will be more likely to build strong relationships with potential logistics partners that can help bolster your company’s mission and improve your processes.

Leverage Technology

Utilizing technology in your export operations can be extremely beneficial, especially when maintaining strong relationships with others. By leveraging technology, you can improve communication and collaboration with your logistics providers and ultimately improve the efficiency and effectiveness of your export operations.

Technology can be used in several ways to improve communication and collaboration with logistics providers. For example, online tools can track shipments, share information, and coordinate schedules. In addition, technology can be used to automate repetitive tasks and processes, freeing up time for more important tasks.

Companies can successfully manage their export operations by understanding the importance of logistics relationships and taking proactive steps to build them. Exporters must ensure that their logistics partners are reliable and capable of meeting their needs. This makes it essential for exporters to strive to develop long-term partnerships with a diverse range of freight providers to meet the demands of today’s global market.

Mike Szczesny is the owner and vice president of EDCO Awards & Specialties, a dedicated supplier of employee recognition products, branded merchandise, and athletic and glass awards. Szczesny takes pride in EDCO’s ability to help companies go the extra mile in expressing gratitude and appreciation to their employees. He resides in Fort Lauderdale, Florida. 

 

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Archives, Education, Global Logistics, Global Trade Daily

Streamline Your Delivery Process with These 11 Tips

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Revamp your logistics game with 11 tips to maximize delivery efficiency and create a competitive edge in the market. From live answering services to investing in digital tools, these strategies will streamline your processes, foster customer trust, and enhance your business’s reputation.

Your success in logistics hinges on delivery efficiency. Taking orders is only the first step in a much larger process; after that, it is up to you to get your products and services delivered on time and in proper condition. For this reason, investing heavily in the delivery process is crucial to staying competitive. This includes everything from choosing the right equipment and software to training employees.

A live answering service is one of the most effective ways to increase delivery efficiency. This strategy enhances customer communication, fosters trust, manages expectations, and prevents costly mistakes. Take advantage of this opportunity to optimize your logistics operations. To help you maximize delivery efficiency, here are 11 tips to streamline the process.

  1. Automation

These days, you can leverage automation to improve your core processes, drastically cut costs, improve customer satisfaction, and streamline every aspect of your operations. Whether you use robotic process automation (RPA) or artificial intelligence (AI), automation can improve your warehouse management and inventory tracking, picking, packing, and shipping processes. 

Automation can also help optimize routes, reduce delivery times, and track progress. For example, route optimization software can help plan each delivery quickly and accurately, converting addresses into GPS coordinates so drivers can take the most efficient routes possible. With up-to-date traffic information, route optimization eliminates unnecessary stops and saves time and fuel costs.

  1. Data Analysis and Utilization

Data analysis enables your organization to better understand customer trends, supply chain processes, and other components of your operations that may hamper your ability to deliver on time. By analyzing data, you can identify areas for improvement and create strategies for making it happen. For instance, you can track how long an item spends in the warehouse and compare this to your average order processing time. You can also determine how often orders are delayed or damaged during shipping, which can help identify bottlenecks. Once these issues have been identified, you can change, improve efficiency and reduce frustration.

  1. Effective Planning and Process Streamlining

In logistics, everything comes down to proper planning. Create detailed plans for each delivery, including the route and expected delivery time. Include contingencies and alternative delivery methods in these plans if unexpected delays or incidents happen. Consider using predictive analytics to expect potential delays or issues so that you can adjust your plans accordingly.

  1. Adoption of Technological Solutions

Technology is key to improving communication, tracking, and customer service and always looking for ways to upgrade your current tools. For example, consider using mobile applications to track shipments and provide real-time updates to customers and employ technologies such as the Internet of Things to help with asset tracking and warehouse management. Consider investing in state-of-the-art vehicle tracking systems, improved packaging materials, or automated pick-and-pack solutions that further streamline your operations.

  1. Strategic Partnership Development

Consider partnering with third-party logistics providers to take advantage of their expertise and resources. Partnerships can help cut costs, optimize routes, and get products to customers faster. Explore different fulfillment methods, such as drop shipping or third-party warehousing services, to reduce costs associated with running your warehouse facilities.

  1. Streamlining Delivery Operations

In today’s competitive landscape, every element of your logistic chain needs to be managed carefully to ensure maximum delivery efficiency. By implementing strategies that streamline processes, like using automated systems or leveraging AI technologies, you can reduce costs while improving the speed and accuracy of your deliveries. Start looking for ways to streamline processes, from order management and fulfillment to shipping and customer service, which should help reduce costs and improve customer satisfaction.

  1. Selection of Appropriate Delivery Equipment

Your choice of delivery equipment will significantly impact how efficient your deliveries are. Choose materials that are light, easy to maintain, and have better ergonomics to make it easier for your employees to carry and move things.

  1. Quality Control Implementation

Quality control helps ensure that your orders are delivered on time and in the right condition. This means that your products and services need to be checked and tested regularly, using methods like visual or functional inspections, sampling, and statistical process control to ensure they meet the high standards your customers expect.

  1. Upgrading the Delivery Fleet

Consider investing in vehicles with better fuel efficiency and improved safety features or switching to alternative vehicles, such as electric or hybrid ones, to reduce emissions and fuel costs. Although this can represent a big initial expense, it can save your business money on fuel and increase delivery efficiency in the long run.

  1. Integration of Live Answering and Customer Service Centers

A live answering service or order entry center enables your customers to place orders quickly while providing helpful, friendly advice and responding to inquiries. Instead of waiting on hold, your customers will get personalized support, satisfied that you are taking their concerns seriously. They can also help automate follow-up tasks such as shipping notifications or product replacements. This combination of automation and personalized service speeds up the delivery process and reduces overall costs.

  1. Employee Training and Development

Ensure that your staff, including rivers, warehouse staff, and customer service representatives, have been adequately trained on the latest technologies and processes. Offer them ongoing education to keep them up-to-date on current industry trends and developments. With the proper training and education, your team will be better equipped to efficiently manage orders, anticipate issues, and quickly resolve problems.

Customers should know that when they place an order with you, they can trust you to deliver. Ensuring that all orders are delivered on time and in good condition is key to strengthening your business’s reputation. Look at your current processes, and strive to understand what works and doesn’t. Work to develop strategies to enhance every aspect of the delivery process, from investing in digital tools and technology to streamlining processes, providing training for employees, and finding innovative solutions for last-mile delivery. By following these tips, you can maximize delivery efficiency, save time and money, and create a competitive edge in the market. Remember, a well-optimized delivery process is good for business and builds long-term relationships with customers.

Author Bio

Jo-Ann Fussell is the CFO and owner/operator of Voice Link, a virtual receptionist company providing the highest quality live answering service, order entry, and customer service center services. Fussel has 31 years’ experience in finance and information technology and is a Magna Cum Laude graduate of Columbus State University, licensed CPA, Certified Key Performance Indicator Professional, and a mother of two Eagle Scouts.

 

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Archives, Education, Global Logistics, Global Trade Daily

6 Things to Look for in a Materials Supplier

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Finding a materials supplier for your business can be challenging, especially if you run a manufacturing business. Plagued with soaring prices, diminishing raw materials, prolonged inflation, pandemic-induced broken supply chains, shortages, and global political unrest, choosing the right supplier for your business is the key. You want to choose one that provides efficiency, speed, and the highest quality.

Materials suppliers are important to your business’ success. They play a role in every stage of production — from sourcing raw materials to ramping up production to fulfilling your business orders. The relationship between suppliers and businesses is crucial.

Follow this ultimate guide when choosing a materials supplier to ensure you end up with a vendor you can trust.

Know What Your Business Needs

First, it’s important to start with the basics and determine your business needs. Whether it’s wood to build homes or award plaques to gift employees at an event, consult with your teams to know what is needed and take an inventory of what you already have. Starting with a good understanding of what you have and what you need will also help you cut costs in the long-run, preventing you from ordering too much or too little.

Next, talk with your accountant, chief financial officer, or whoever oversees funds, about what is attainable and within budget. Determine if you prefer a wholesaler or third-party logistics provider.

Note: It’s important to think long-term. Ideally, you choose a materials supplier and work with them for an extended period. You’ve heard it before: relationships are important in business. When you have a long-term relationship with a supplier, it becomes easier to fulfill and place orders. And they can help your business achieve more goals, such as expanding globally.

Here’s how to determine whether or not your materials supplier will be in it for the long haul.

What to Look for in a Materials Supplier

It is essential to have dependable and high-quality materials suppliers when running a successful business. These tips will help you find the best supplier to meet your needs, whether you’re a small startup or a large corporation.

  1. Reliability

When selecting a materials supplier, reliability is an important factor to consider. This refers to the supplier’s ability to consistently deliver high-quality materials on time and in the quantities required. A dependable supplier will allow for the smooth and timely completion of all projects. A supplier who delivers broken or faulty supplies or arrives late with the materials you need simply cannot be trusted to keep your business afloat. Reliability is key with materials suppliers.

2. Trust

When choosing a materials supplier, trust is essential. Building trust with a supplier takes time and effort, which is critical to developing a good working relationship. When evaluating potential suppliers, consider their reputation, willingness to provide references, and the transparency of their business practices. You must ask yourself: Can I trust this person or company? Your strategic sourcing significantly impacts your projects’ success, so choosing a supplier you can trust is important.

3. Quality

 

High-quality business starts with your suppliers. After all, poor service or quality is associated with your company — not the suppliers behind the scenes. Ensure top-quality materials to ensure top-quality business and avoid letting your customers down.

4. Financial Security

However, high quality does not always require paying the highest price. It will take some time and strategy to find the balance of quality and price that works best for your business, but it is possible.

Suppliers’ pricing also accounts for timeliness. You want to pay for a supplier that offers speedy results. And on the flip side, you want to ensure your supplier is financially secure. You don’t want your supplier going bankrupt and leaving your company high and dry.

5. Speed

A supplier that provides results in a timely fashion is key. Find suppliers who can quickly respond to customer and business demands, including emergencies. This involves a level of proactiveness and organization as well.

6. Clear communication

You need to find suppliers who will notify you of a problem quickly and give you frequent updates on shipments. Honest and open communication keeps the business running. That available line for regular communication also allows them to understand your future needs and how you can improve the operations.

So now that you know what you should look for in a supplier, let’s talk about how to find one!

How to Find a Supplier

To find the best materials supplier, start with a shortlist of possibilities. After you have determined what you need to buy, create a shortlist. Ask your friends and business partners for recommendations, consult with a trade association, look to your business advisors for advice, or attend exhibitions.

Next, approach those materials suppliers. Be able to communicate your needs and requirements upfront. Then ask them if they can supply it and meet your needs. Compare the responses to determine which material supplier is best for your business.

Next Steps

Now that you have determined which suppliers to work with, it is time to negotiate your terms.

Set clear goals and communicate boundaries. Think through things such as payment schedule, price, delivery schedule, and frequency. The supplier will do the same. Hash out any differences or concerns early on. Use your bargaining power to get the best deal for your business.

Once an agreement is reached, it’s time to draft the service-level agreement. These agreements are part of supplier contracts and typically outline the following:

  • Payment conditions
  • Standards of service
  • Delivery schedule
  • Responsibilities
  • Performance review terms
  • Any confidentiality or non-disclosure agreements
  • Conditions for termination

Some suppliers will have standard service level agreements for all business relationships. Ensure your needs are being addressed.

Knowing how to find the right materials supplier for your business is essential and doing your due diligence upfront will always pay off in the end.

Mike Szczesny is the owner and vice president of EDCO Awards & Specialties, a dedicated supplier of employee recognition products, branded merchandise, athletic awards and award plaques. Szczesny takes pride in EDCO’s ability to help companies go the extra mile in expressing gratitude and appreciation to their employees. He resides in Fort Lauderdale, Florida.

 

How to Submit ISF Filing to Customs and Border Protection
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How to Submit ISF Filing to Customs and Border Protection

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All importers are required to submit ISF filing for cargo bound for U.S. ports. ISF, or Import Security Filing, is a documentation system that ensures all cargo passing through U.S. ports is legal and safe. ISF can sound complicated at first, but it comes down to a single form that gets submitted electronically. This guide will cover all of the details of how ISF works, what data is required, and how to submit ISF filings.

What Is Import Security Filing?

Import Security Filing and Additional Requirements is a rule established by U.S. Customs and Border Protection (CBP). Also known as ISF or 10+2, this rule requires importers and agents shipping cargo to the U.S. over ocean or sea transportation to file information on their cargo with CBP. Complying with ISF allows CBP to ensure that no illegal cargo is passing through U.S. ports.

ISF only applies to cargo shipped via ocean or sea – it does not apply to cargo imported by air. However, ISF does apply to Foreign Cargo Remaining On Board (FROB), Immediate Exportation (IE), and Transport & Exportation (T&E) shipments. The data needed for these types of shipments differ slightly from the requirements for standard inbound cargo.

ISF Importer Responsibilities

The importer for a cargo shipment destined for the U.S. is responsible for completing an ISF filing for the shipment. Importers are generally the owner, purchaser, or agent responsible for the goods being shipped. The requirements are fairly straightforward, but there are two different versions of ISF for different cargo types.

Regardless of the cargo type, importers are required to submit their ISF filing at least 24 hours before the shipment departs for its journey to a U.S. port.

ISF 10+2 vs. ISF 5

U.S. Customs and Border Protection has two versions of ISF: ISF 10+2 and ISF 5. ISF 10+2 is the most common, applying to standard inbound cargo. ISF 5 requires fewer data to be submitted and applies only to transit cargo, including FROB, IE, and T&E shipments. Any importer who is unsure which category their cargo falls under should contact U.S. Customs and Border Protection.

ISF 10+2 applies to all cargo, including goods that are entering the U.S. or being shipped to a Foreign Trade Zone. The ISF 10+2 form requires 10 data elements related to the shipment: Seller, buyer, importer of record number or FTZ applicant ID number, consignee number, manufacturer or supplier, ship to party, country of origin, and Commodity Harmonized Tariff Schedule number. The ocean line must provide two additional data elements: The vessel stow plan and container status messages.

ISF 5 is similar but doesn’t require as much data. This shorter form applies only to transit cargo. ISF 5 requires five data elements related to the shipment: Booking party, foreign port of unlading, place of delivery, ship to party, and Harmonized Tariff Schedule number.

All of this information should be readily available to the importer. However, if the importer is unable to find their Commodity Harmonized Tariff Schedule number, they can refer to the U.S. International Trade Commission database for the schedule and more information. Any other missing information will need to be obtained from the other parties responsible for the goods being shipped. If this person is not the agent completing the ISF filing, the importer will need to contact the cargo’s owner and purchaser.

Consequences of Failing to Comply With ISF

Failing to properly submit ISF filings can result in fines of $5,000 or more, as well as potential penalties on the cargo itself. U.S. Customs and Border Protection may withhold the release of cargo that does not have an ISF filing submitted. Additionally, cargo that arrives at U.S. ports without its ISF filing may be refused an unlading permit and may even be seized by CBP officials.

How to Prepare and Submit ISF Filings

Preparing your ISF filing is a straightforward process that should take importers only a short time to complete. Make sure to get started well before the shipment is scheduled to depart, just in case any data is missing or difficult to track down. Have contact information on hand for everyone connected to the shipment, particularly the owner and purchaser.

1. Gather All Necessary Information as Soon as Possible

The first step to submitting an ISF filing is to gather all of the necessary information for either ISF 10+2 or ISF 5 as soon as possible. Refer to the section above for the complete list of data needed for either ISF format. Most of this should be readily available, but be prepared to contact the shipment’s owner or purchaser. Don’t wait until the last minute to gather ISF data.

2. Choose a Filing Method

Once all of the necessary information is organized, it is time to choose a filing method. Submitting an ISF filing is similar to submitting a tax return; importers can do it themselves or they can hire a third-party agent to submit their form for them.

There are several third-party services available for this purpose, but U.S. Customs and Border Protection also operates a secure online portal where importers can submit ISF filings themselves. Either way, ISF data must be submitted electronically – there is no paper submission option.

3. Submit ISF Filing

Once the importer has selected a filing method, they can go ahead and submit their ISF filing. Remember to double-check all of the data before either submitting or giving the data to an agent or third party to submit. If the data is found to be inaccurate, it could result in fines or penalties from CBP.

4. Tracking ISF Status

Importers can use the CBP portal mentioned above to track the status of their ISF filing. CBP typically does not update the tracking status every step of the way. Importers are simply notified once the ISF data is either accepted or rejected.

Import Security Filing Common Questions

The ISF submission process is usually easy and straightforward with the right information on hand. However, it is common to still have a few questions afterward.

What If ISF Data Changes After Submission?

ISF data can change in the event of last-minute shipping changes or alterations to the goods being shipped, or simply if more accurate data become available. Incidents like this are especially common today due to ongoing supply chain disruptions and delays. Emerging supply chain technologies like IoT can help importers maintain accurate, live status information on their shipments, which may reduce the need for last-minute ISF changes.

If the ISF info does need to be updated, importers have some flexibility to do so. U.S. Customs and Border Protection allows importers or agents to update their ISF data up to 24 hours before the cargo arrives at a U.S. port.

Is There a Fee to Submit an ISF Filing?

Yes, there are fees to submit an ISF filing. Importers have to pay an ISF bond as well as a filing fee. The exact amounts for these fees vary slightly, but the total amount is typically up to $120.

Stay Safe by Submitting Your ISF Filing

Importers protect their cargo, their business, and their customers when they submit ISF filings. U.S. Customs and Border Protection designed the ISF filing system to ensure only legitimate cargo passes through U.S. ports. Submitting the necessary data does not take long and maintains safe and legal shipping standards for importers, port employees, and American customers.

 

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Drive Efficiency and Savings with your Supply Chain and Freight Bill Audit Solution

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The chaos and uncertainty of the global supply chain throughout the past two years has brought the importance of an optimized logistics operation into sharp focus. As transportation costs soared, many executives paid close attention to the effects of the supply chain on their bottom line.

To gain end-to-end visibility into your supply chain, you need a freight audit and payment provider that takes all the data from your freight bills and standardizes it – ingests, cleanses, normalizes, and connects it from disparate systems – to provide you with centralized intelligence and visibility for total transportation spend management.

Supply Chain and Freight Bill Audit Costs

Enterprise leaders need business intelligence to make informed decisions. Without a freight audit process, you have no visibility into which parts of your supply chain need optimization, which parts regularly accrue unnecessary accessorial charges, where you are being charged with incorrect rates, where you could use better route planning, and other crucial KPIs.

A freight audit and payment solution that automates the process of pulling data from every freight invoice across your global transportation network and compiling it into usable data is the best way to gain end-to-end control and visibility into your supply chain.

Freight Audits and the Transportation Industry

In 1980, the transportation industry was deregulated. Before that, freight payment terms were cohesive across the board, and each freight invoice had to be paid in a matter of days.

This changed the way logistics services were paid, and shippers and carriers could negotiate the terms of their freight bills. The freight payment process became more complex, and as technology has advanced over the past few decades, the need for a comprehensive freight audit has increased.

Freight Bill Errors

Accurate and timely accounting, reporting, and freight payment is nearly impossible – up to 25% of freight invoices are estimated to contain errors. With freight bill audit software, your organization can uncover improperly charged fees, avoid double paying invoices, and ensure carriers are paid correctly and on time.

The freight audit process provides your enterprise with more accurate carrier invoices. With accurate invoicing comes accurate data. With accurate data comes insightful analytics on the state of your transportation spend, allowing stakeholders to make informed decisions and track KPIs and other essential business analytics.

Freight Bill Auditing Challenges

Manual freight auditing necessitates a special skill set. Audit staff will need specific training and attention to detail, and they will need to have access to all original bills of lading and carrier contracts to crosscheck any rates, freight weights, and any errors.

When you partner with a freight audit and payment (FAP) provider, auditing becomes an automated process, improving your freight payment and total transportation spend data quality and efficiency.

New Shipper/Carrier Relationships

With recent global supply chain turmoil, shippers are currently experiencing difficult times. The shipper/carrier dynamic has shifted. For the first time in recent memory, the market favors the carrier. Carriers have more options and more power than ever in recent history.

Shippers are in a unique position, grappling with rising fuel prices, changing tariffs, capacity restraints, and unpredictable service. These factors can result in delivery delays, expensive spot transactions, and unhappy customers due to empty shelves and backorders. Further, shippers don’t have much leverage.

These aspects of the current market add up to shippers facing the challenge of keeping carriers happy. On-time freight bill payments to carriers are the best way to do so. Carriers are spoiled for choice, and if they are going to be paid late, they will prioritize other shippers without much thought, regardless of negotiated contracts.

Increasingly, carriers are demanding shorter payment terms, and shippers are having difficulty retaining capacity commitments from suppliers. This impacts shipper days payable outstanding (DPO) and working capital objectives, creating more financial risk.

Bottom line?

On-time carrier payments are imperative.

Freight Audit and Payment Software

Freight auditing software analyzes freight invoices for inaccuracies, ensuring you pay carriers on time, while ensuring you pay only what you were quoted in contract negotiations. You gain better visibility and control over the entire billing process and other aspects of business that affect your bottom line — cost allocation and timely accruals, for example.

When powered by a credible platform, freight audit and payment software gives you visibility into freight costs across your entire business operations, which can reveal smarter ways to maximize trade routing (also decreasing your carbon emissions and supporting your organization’s ESG goals) and predict future transportation costs.

 Auditing, Freight, and the Future of Supply Chain

Complete Freight Audit software, powered by Transportation Spend Management, empowers global enterprises with the predictive tools needed to future-proof transportation operations.

 Chris Cassidy is the chief revenue officer for Trax Technologies, the global leader in Transportation Spend Management (TSM) solutions. Trax elevates traditional Freight Audit and Payment (FAP) with a combination of industry leading cloud-based technology solutions and expert services to help enterprises with the world’s more complex supply chains better manage and control their global transportation costs and drive enterprise-wide efficiency and value. For more information, visit www.traxtech.com.

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Top Strategies for Coping with the Capacity Crunch

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In spite of the recent improvements concerning shipping container shortages and similar, the capacity crunch is still a real concern. In fact, it is likely to remain one indefinitely. So, coming up with viable solutions to the problems is one of the foremost tasks for any business involved in the shipping and transporting of goods. To contribute, we have prepared a guide on the top strategies for coping with the capacity crunch!

Work on your efficiency

The first way of coping with the capacity crunch is to make it easier for carriers and logistics companies to work with you. Since the capacity crunch makes it necessary for them to be slightly pickier with their partners, choosing someone who helps them do their work quickly and effectively will always be a priority. Meaning they likely won’t choose to work with you if your handover of goods is not optimally organized. Besides, some effort to optimize your distribution center will also help your own business, as well. It is only better to invest time and resources into such a project.

Form long-term cooperative agreements

If you want a guarantee that you’ll be able to ship your goods consistently, the best thing to do is form long-term cooperative agreements. If you know you can rely on your partners for shipping space; you won’t need to worry about a capacity crunch. They will also feel more motivated to provide you with enough space for all your shipping needs. In addition, working more closely together gives you the benefit of knowing your goods are being handled well. And that they will arrive safely at their destination without any damage. Which is not something you can absolutely guarantee when working with new carriers.

Improve your routes

If you rely on your own truck fleet or other transportation methods, one way of coping with the capacity crunch is to optimize your delivery routes. As logistics experts like to point out, working on the improvement of your everyday traveling routes can shave off a lot of time from your schedule. This would, in turn, free up your trucks faster and allow you to make more rounds. It may not be an obvious thing when just paying attention to short-term boosts to your delivery efficiency. However, over weeks and months, it will slowly add up to a significant improvement well worth all the effort to achieve it!

Ship more frequently

Yet another method of coping with the capacity crunch is making more yet smaller shipments. This somewhat synergizes with our previous piece of advice. Of course, there is a serious downside to this, especially if you are doing it yourself. Frequent smaller shipments still use up fuel, which would increase your operating costs. Still, if your goal is to get your goods to the destination as quickly and reliably as possible, this is likely one of your best options. The downside is somewhat minimized, too, if you are working with logistics companies or carriers. The price of their service is, after all, primarily based on the amount of inventory you have them transport. Especially if they are picking up your goods while running their own pre-set routes. In this scenario, you should definitely prioritize making this your preferred mode of operation.

Organize your shipping dates better

If the idea of shipping more frequently does not appeal to you, then there is a decent alternative. Namely, you can simply try to put the dates forward a little. If you ship your goods earlier than the stipulated deadlines, you will have the time required to deal with any delays or issues that pop up. Now, this does cause problems of its own. Namely, it causes potential inventory and warehousing issues. If the goods are delivered too early, the recipient may not have enough space to store them. Or the delivery may overlap with another and cause a delay in unloading the goods. This is why, if you opt for this particular solution, make sure to properly communicate the changes with your partners or customers. This way, they will have an opportunity to fix things on their end, and problems can be largely avoided.

Cooperate with multiple logistics companies

Whether you are doing shipments yourself or have a set partner, another potential solution for capacity crunch is simply working with multiple carriers instead. After all, if a single company cannot properly account for all your needs, then several will. Naturally, this does mean you need to carefully pick and choose whom you want to work with. You would also need to go through the process of fine-tuning your cooperation with them once again. But, if you consider the current state of global logistics, this is not a bad idea at all. If any of your partners run into serious issues, you still have the option to fall back on. As such, working with multiple companies would not only solve your capacity crunch problems but provide you with a sense of security as well.

Invest in your own expansion

The final way of coping with the capacity crunch is to expand your own shipping capacities. Now, this is both the most expensive and most viable solution. Obviously, it requires a considerable short-term investment. And even an increase in your everyday expenses as you work to ensure the maintenance of your trucks. But, consider this: you would have your own solution, which you can have absolute confidence in, and would not be required to deal with agreements, partnerships, or schedule syncing. In other words, you would have complete control over the shipment of your goods. This is by no means a small boon for any company! Especially since you could fine-tune all the deliveries and the expenses associated with them.

Final comment

We hope that the top strategies for coping with the capacity crunch we have prepared will be helpful to you! Of course, whatever solution you settle on, know it will take some time to properly integrate them into your business. So, make long-term plans rather than temporary fixes!

Author Bio

Jacob Fabre is a logistics expert associated with Movers Not Shakers and has over two decades of experience in the field. He draws on this knowledge to produce quality texts and articles on various subjects related to his field of work.

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SEO Marketing Strategies for Logistics and Transportation Companies

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Getting your transportation website to the top of Google search results is difficult. However, it is essential to ensure that your company gets more customers. SEO helps manage your content to attract the awareness of web crawlers.

Search engine optimization (SEO) is a set of operations designed to increase your company’s visibility on search engine results pages. Keywords and other SEO methods for logistics help search engines recognize the website as a credible source, thus maintaining its position at the top of search results.

A solid online presence and high Google organic search ranking can create a thousand differences, particularly in logistics and transportation.

In this blog, let’s find out why SEO is important for logistics and transportation companies. Let us also understand a few strategies for your company’s SEO to start getting more customers and increasing revenue.

What is SEO?

SEO is a crucial part of digital marketing. It increases the quality and quantity of website traffic by raising its visibility to online search engine users. SEO also improves unpaid results and removes sponsored traffic and advertising placement.

SEO is based on how search engine’s function, or their algorithms, which determine the ranking of web pages on the SERP. The major goal is to evaluate the data collected to determine the target audience’s chosen search engines and popular keywords and then build the website to acquire a higher ranking in SERPs since a higher rank means more quality and quantity of visitors.

Why Is SEO Important for Transportation and Logistics Companies?

Since no one has the time to examine every one of these companies, they have to limit their choices to the most significant ones in the industry. Since search is increasingly changing into the most effective element for researching companies, the websites that rank higher receive the most attention.

Here are the following significant factors for your organization:

 Increase the visibility of your business

The company website’s organic rating on every search engine is due to SEO. Using a user-friendly approach can help you attract leads. There is a strong correlation between your website’s search engine ranking and its potential to generate significant traffic volumes.

Credibility

A well-managed SEO allows you to establish credibility with prospective customers. To keep your site visitors focused, you should provide them with a good user experience and high-quality presentations of your products and services.

When a visitor has a positive experience while browsing your website, there is a possible chance that they will come back to see your website in the future.

The generation of traffic to your website

By increasing your site’s organic search engine ranks based on its high-quality, engaging content, an efficient SEO helps to bring in targeted visitors. To turn these qualified leads into paying customers, you must ensure they have a positive experience while on your website.

How Do SEO Help Transportation and Logistics Companies?

Most people use Google or other search engines to find a transportation and logistics provider.

Increasing competition in the industry increases the importance of attracting visitors to your website. Or else potential customers will go with your competitors.

Hence, this makes it more challenging to separate yourself from the competition. It might appear not easy to reach a high-ranking spot-on Google’s first page, mainly if you are a start-up.

Here are the best strategies to benefit your company and how SEO can help logistics and transportation companies. 

SEO Strategies for Transportation and Logistics Companies

Websites are ranked by search engines based on various variables, and it may take several weeks for your plan to start having a result. 

Therefore, plan development will take time, but if you are committed to your strategy, your rankings and company performance may benefit.

Website optimization

When you plan for SEO, you need to make sure that your site is set up to support the SEO keywords or research you have. It might indicate a few modifications to how things are set up, or it could mean a complete redesign of your site to make the most of what you have. 

Long-form web pages with well-informed, relevant material and search term content that visitors will refer to based on their searches. They’re broad and handle significant topics in depth. It also enables hyper-specific blog entries that connect back to the pillar page. 

Establishing a web on your site improves SEO keywords; instead of producing regular posts with keywords packed into the body. 

Keywords optimization

Use the selected keywords and phrases in the site’s title and header. It’s also a good idea to create a list of your services, with a different page for each.

With this feature, users of search engines can skip over unnecessary content and get directly to the page that contains the data they need. Using more narrowly focused keywords increases the likelihood of attracting qualified leads.

Select your keywords by first establishing your objective and your business strategy. Create further ideas by:

  • Google’s autocompleting feature
  • Searching through the list of similar queries
  • Checking your competitors’ websites and analyzing the keywords on various pages
  • Using an SEO tool to create keywords

Being active on social media 

Social media is an external ranking component. An active social media profile may increase site rankings and allow you to reach new audiences. Therefore, your business should develop and maintain accounts on sites where prospective consumers hang out.

Keep your readers updated with daily posts that provide relevant links to new content and news updates. If you follow your customers and promote their content, they might follow you and share yours in return. 

Joining in debates on industry-related groups is another excellent way to establish yourself as an expert in your field and boost your online reputation, which bring more visitors to your website.

Increase links

High-quality links (or backlinks) are also another critical factor in ranking higher in search results. Compelling a logistics site may take some time, but your results may increase significantly with good keyword implementation.

The worst thing that might happen is that website owners decline your request to add a link. Therefore, start by looking for current references. Contact business associates who might provide a connection and nearby companies and websites. It is crucial to look at these sites’ domain authority and traffic to ensure they are high quality and will significantly boost your site.

Creating high-quality content

Producing high-quality content helps search engines like Google and Bing recognize your website as a credible resource. Maintaining a high ranking in search results needs regular updates of quality content to a blog. Every word on your website is “read” by search engines.

Writing blog entries improves the number of keywords on your site while keeping its quality.

Blogging is an excellent method to regularly bring new content to your site, but you should also explore content in other forms such as infographics, videos, and white papers. This material can be developed about nearly anything in your sector, such as typical transportation concerns or difficulties.

Identifying your competitors

Keep your business and keyword competitors in mind when developing an SEO marketing plan for your logistics and transportation company. Business competitors are other transportation businesses constantly on your radar, and you need to keep an eye on them. Keyword competitors might exist in the SEO field as well. 

Businesses seeking the exact keywords as you are considered “keyword competitors,” even though they don’t necessarily compete with you for customers.

With the help of a good marketing agency and SEO software, you can find out which keywords drive the most traffic to your competitor’s websites. If the keyword fits your business, you can also try to rank for it. Therefore, you will steal their website traffic and suddenly get more leads. 

Build relationships

Relationships are crucial to the success of any logistics plan. Therefore, getting out into the community should be a must. Use LinkedIn and Facebook groups dedicated to the transportation, supply chain, and logistics sectors to interact with other businesses. Build these connections by posting regularly.

Another marketing possibility is trade events. Anyone can network with other logistics service providers, exchange business cards, and meet potential customers. With these in-person interactions, visitors can see your personality and get a more profound sense of your business. 

However, trade events are not always accessible, so you must have a few additional techniques.

Promote your content on search engines and directories

Creating blog articles and content with SEO may increase your search engine rating. Your website will rank better in search results when particular keywords are entered. You may purc½hase advertising on Google and Bing to boost your exposure. 

By applying to logistics directories, you can improve the number of visitors to your website. Using these tools may increase the number of backlinks pointing to your website from lawful businesses. Logistics List and Nolo are two large-scale indexes.

Final Thoughts

Developing a strategy for search engine optimization (SEO) may initially seem intimidating, but it’s another tool you can use to promote awareness of your business.

Search engines have transitioned from being a customer resource to a robust marketing tool, and they can be an incredibly effective way to connect with new customers. However, for your business to profit, it must be in the top results, and the only way to do this is through SEO. 

 

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Universities with Supply Chain Management Degrees

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When someone hears the phrase supply chain, they might automatically think about products in a warehouse. While the products do eventually get stored into a warehouse, supply chain management focuses on every aspect relating to its production. It is also one of the most lucrative career choices available. With so many job opportunities and high salaries all around, you may be tempted to go back to school to obtain your degree. Here is everything you need to better understand this business sector, what universities are best suited for this degree and how you can pay for it.

What is Supply Chain Management?

Supply chain management is when you keep tabs on the production process of a certain product or service. This can be broken down into five very distinct categories; planning, sourcing, manufacturing, delivery and return. With the appropriate measures taken, you can dramatically cut the costs and save a lot of time.

Degree Timeline

A degree in supply chain management can be utilized in several ways. In addition to overseeing the life cycle of products, there are a variety of other positions you can hold. But prior to that, you need to earn the right type of degree. While some people choose to only earn a bachelor’s degree, others opt to further their education and earn a master’s or even Ph.D. The time you spend earning your degree will depend on the degree itself. The higher your degree level, the better job opportunities you’ll have at your disposal. In fact, here is a small list of the type of jobs you can expect to see when applying:

-Operations Manager

-Materials Supervisor

-Logistics Analyst

-Supply Chain Analyst

-Demand Forecaster

-Supply Chain Consultant

There are many jobs to choose from with this degree, but these are the ones that people usually apply for. The cost of a bachelor’s in this program depends on how far you’re willing to go. At most, you can pay up to about $65,000 for tuition. The average cost of this degree, however, can range from $34,000 to roughly $40,000.

Top Universities for Supply Chain

You can get a degree in supply chain from any university that offers it. However, there are a select few colleges that are better to get the degree from. Below are four of the most recommended universities to acquire your degree in supply chain management. But before we talk about some of the best schools to earn your degree, we need to discuss finances. If you’re already paying student loans and are concerned about debt, you may want to consider refinancing. When you consolidate your debt, you can focus more on your studies and less on your financial status. You can also use a calculator for repayment options to get a better idea of your monthly payment.

Portland State University

Since supply chain is a fast-growing business, Portland State University can ensure you’ll receive a rich education in a short amount of time. In fact, this college in particular has been certified by the Institute for Supply Management (ISM) themselves. One of the reasons for this official certification is because their program allows their students to experience what’s in store in supply management first hand. Having actual experience gives many applicants a much-needed advantage when applying for a job.

Colorado State University

Colorado State University’s SCM program is incredibly thorough. From learning how to do customer service to known trade compliance works, Colorado State University is one of the better choices if you decide to pursue a master’s degree. Just remember that a master’s costs more per credit than a bachelor’s degree.

Texas A&M International University

Founded in 1876, Texas A&M International University is in the top 100 best universities to attend. The cost of the in-state tuition is about $12,500 while out-of-state tuition is around $39,400. As for the program itself, it will teach you how to effectively coordinate any team efforts. It’s also going to help you develop the necessary leadership, business and technical skills that are required in this line of work.

University of Nebraska Kearney

At this university, you have several options for earning your degree. They offer undergraduate programs, graduate programs and MBA specializations. Depending on your occupational goals, you may even want to consider getting a Ph.D. The overall cost also depends on the course of study. Currently, if you’re attending out-of-state, the cost is around $26,000. In-state tuition typically costs about $18,300. This fall, however, the out-of-state tuition is being altered to the same as if you were attending in-state. If you wait until fall, you’ll be saving almost $8,000. Whether you’re looking to switch careers or be eligible for a promotion, returning to school can make that happen. Use the above as a guide when deciding on a school and whether supply chain management is right for you.

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INDUSTRY INVESTS IN SUPPLY CHAIN MANAGEMENT STUDIES … AND ITS FUTURE

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To get an idea of how important a supply chain management education has become to the industry, remember the words of “Deep Throat” to Bob Woodward, the then-young Washington Post reporter investigating the Watergate break-in.

“Follow the money.”

Let’s start with the $25,000 pledge that Gebrüder Weiss USA, a global freight forwarder with a core business of overland transport, air, and sea freight and logistics, made in November to Rutgers University Foundation to encourage diversity and ease financial burdens for students studying supply chain management (SCM). 

The gift supports the creation of the Gebrüder Weiss Supply Chain Leadership Scholarship for five years, through the academic year of 2024-2025. Full-time undergraduate students enrolled at Rutgers Business School, which is part of Rutgers University, the State University of New Jersey, may apply for the scholarship by submitting the university-approved financial aid form.

Each year through 2024, two students studying supply chain will be selected as recipients of the scholarship, which aims to increase diversity by assisting underrepresented-minority students who are in the Rutgers School of Business. Based on the availability of funds, awards may be renewed for up to three years (or four years if the student is enrolled in a five-year program) at the discretion of the dean of the Rutgers Business School.

“This scholarship money will help make it possible for underrepresented students to attend Rutgers Business School, to study the field of supply chain management, and to consider many possible career paths,” says Lei Lei, dean of the Rutgers Business School. “We strive to promote diversity and inclusion across all of the academic programs within Rutgers Business School. The ability of companies like Gebrüder Weiss to create scholarships for underrepresented students helps us to achieve that and strengthens our efforts to cultivate professionals and leaders for the future business world.”

“At Gebrüder Weiss, we believe our words are only as strong as our actions,” explains Mark McCullough, CEO of Gebrüder Weiss USA, which is a division of the family owned Austrian company that is the oldest logistics and transportation company in the world. “As our leadership team in the U.S. contemplated what we could do to create meaningful change in the racial landscape of the supply chain and logistics industry in America, we knew education was one of the answers. 

“We’ve had a great relationship with Rutgers for many years. They welcomed the idea of creating a new Supply Chain Leadership Scholarship in the Business School to support our diversity initiative. We are thrilled to provide scholarship funds for undergraduate students studying supply chain management at Rutgers and hope our investment supports the growth of a more dynamic and diverse workforce in the future.”

Another Supply Chain Giant Steps Up

North American rail giant CN announced on Dec. 1 it would give $500,000 (Canadian) to renew its commitment to support research and education programs at the Centre for Supply Chain Management in the Lazaridis School of Business and Economics at Wilfrid Laurier University. 

CN donated the same amount to the school in Waterloo, Ontario, Canada, in 2015, and over the past years the rail company has worked closely with the Centre for Supply Chain Management to support student internships and a cooperative education program that has undergraduates putting their education into practice as “CN Fellows.” 

Events of the past year made extending the relationship with the school more important than ever, says Keith Reardon, CN’s senior vice president, Consumer Product Supply Chain. 

“The COVID-19 pandemic has brought the subject of strong and reliable supply chains to the forefront of public interest and discussion,” he explains. “As a critical part in many of the supply chains that North Americans rely on, CN is committed to developing Canada’s expertise in the increasingly important field of supply chain management by deepening our great partnership with Wilfrid Laurier University.”

“It’s a privilege to partner with CN, a strong Canadian company whose commitment has strengthened our supply chain management activities,” says Micheál Kelly, dean of the Lazaridis School. “This generous donation will allow us to continue to enhance our research, outreach and education, ensuring our graduates hit the ground running with the skills needed for today’s complex environment that requires adaptable, resilient and flexible supply chains.”

Programs for Those Already in the Workforce, Too

Every year, CN, Laurier University and the Milton Chamber of Commerce present the World Class Supply Chain Conference, which targets students as well as professionals already in the field with industry experts and speakers from all over the world. 

Milton, which is about halfway between Waterloo and Toronto, “has become a center for supply chain and logistics,” says Scott McCammon, president and CEO of the Milton Chamber of Commerce. “The summit is an important forum for learning how opportunities in the field can be leveraged, and challenges overcome.”

The fifth annual summit, with the theme “Vision 2030: SCM for a New Decade,” was canceled due to COVID-19, so a virtual event is now scheduled for May 5.

The global pandemic is also on the mind of Yossi Sheffi, the Elisha Gray II Professor of Engineering Systems at the Massachusetts Institute of Technology and Director of MIT’s Center for Transportation & Logistics, a world leader in supply chain management education and research.

A recipient of the Council of Supply Chain Management Professionals’ Distinguished Service Award, Sheffi is scheduled to present a Jan. 21 webinar on supply chains in a post-pandemic world. Hosted by the Coalition of New England Companies for Trade (CONECT), the webinar is based on Sheffi’s most-recent book, The New (Ab)Normal: Reshaping Business and Supply Chain Strategy Beyond Covid-19. An audience Q&A is part of the presentation. (Go to www.conect.org/event/sheffiwebinar for more details.)

Supply chain management students and professionals from the pharma side should also check out webinar recordings from Pharma Logistics IQ:

-The Pharma Supply Chain After COVID-19 

-Mapping Data Utilization to Transform Global Supply Chains 

-Reducing Waste and Eliminating Temperature Excursions in Your Supply Chain.

Go to pharmalogisticsiq.com for more details.