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Bolloré Logistics Enhances Supply Chain Visibility with Winddle Collaboration

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Global Logistics, Global Trade Daily, News

Bolloré Logistics Enhances Supply Chain Visibility with Winddle Collaboration

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Bolloré Logistics, a key player in logistics and international transport, has joined forces with Winddle, a collaborative platform for supply chain management, to elevate its purchase order (PO) management services. The partnership aims to optimize transport operations through integrated management of product orders and enhanced collaboration with suppliers.

In the overseas transport sector, end-to-end visibility is crucial to ensure seamless operations. Winddle’s collaborative platform facilitates the coordination of inbound operations and provides comprehensive visibility at both the purchase/sales order and product/SKU levels. This collaborative approach allows shippers, suppliers, and carriers to work on a common basis, streamlining data entry and centralizing documents. By gaining visibility over goods delivery forecasts submitted by suppliers, Bolloré Logistics can anticipate transport flows more effectively and enhance overall coordination.

Nathalie Léger, Global VP for the Beauty and Luxury Goods sectors at Bolloré Logistics, highlights Winddle’s flexibility in integrating with Bolloré Logistics’ Transport Management Systems (TMS) and responding to various customer Standard Operating Procedures (SOPs).

The integration of PO management with transport visibility enhances Bolloré Logistics’ ability to understand the overall performance of its supply chain. Winddle provides indicators at the product, purchase order, or sales order level, offering insights into forecasts, monitoring dates, costs, and environmental impact. The collaboration enables better prioritization of product flows during transport capacity constraints and facilitates quick and effective communication in case of transport delays.

Bolloré Logistics has successfully implemented Winddle’s solution for a French luxury cosmetics brand, replacing a PO management system based on shared files. The platform, onboarded in just three months, has over 80 users monitoring thousands of shipments per year collaboratively. The project has streamlined daily collaboration between the cosmetics brand and Bolloré Logistics, offering a reliable tool for coordinating supplier and transport performance.

Building on the success of the initial deployment, Bolloré Logistics plans to integrate Winddle modules for automated, predictive calculation of unit approach costs, transport costs, and invoice reconciliation. This strategic move opens up exciting prospects for ongoing optimization of transport operations.

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Global Logistics, Global Trade Daily

Packaging in Supply Chain Management Market: Future Scope, Demands and Projected Industry Growths to 2032

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At one-point, numerous businesses perceived packaging to fulfil two fundamental roles within supply chain management.

Packaging is vital in protecting products during transportation, ensuring that items reach their destination safely and without damage. This function is crucial in maintaining product quality and reducing potential losses or returns due to transportation mishaps.

Another essential function of packaging within supply chain management is optimizing space utilization on delivery vehicles. By efficiently arranging products within the packaging, companies can ensure that the correct quantity of items is shipped to distribution centers, fulfillment centers, retailers, and customers. This optimization helps reduce wasted space, leading to more efficient transportation and ultimately saving fuel and transportation costs. Businesses can enhance their logistical operations and improve overall supply chain efficiency by maximizing available space.

In the rapidly evolving landscape of modern business, cutting-edge technologies and innovative solutions have revolutionized packaging options across diverse industries such as aerospace, food, beverage, pet care, and paints & coatings. As a result, companies have gained valuable insights into the immense opportunities presented by packaging materials. 

The significance of packaging in the supply chain has transcended its traditional purpose, now encompassing critical aspects like environmental protection, product traceability, seamless item handling, efficient distribution, and the potential to boost marketing campaigns. These multifaceted factors can be classified into three primary packaging functions: flow optimization, marketing, and environmental sustainability.

Ensuring customers remember your product long after the purchase is of utmost significance to businesses striving to attract new customers and cultivate unwavering loyalty throughout their company’s lifespan. While marketing efforts towards existing customers, such as email campaigns and newsletters, are essential, packaging emerges as a potent tool for captivating and retaining customers, ultimately bolstering sales. The lasting impact of well-crafted packaging can leave a lasting impression on consumers, reinforcing brand recognition and fostering a positive perception of the product, thus encouraging repeat purchases and word-of-mouth recommendations. As a result, businesses must recognize the strategic value of packaging as a vital component in their customer engagement and retention strategies, enhancing the overall customer experience and ensuring sustained success in the market.

Optimization Trends: Redefining Packaging Procurement’s Supply Chain

In response to the post-COVID-19 complexities, disruptions, and evolving regulations, businesses have adopted a proactive approach to enhancing their supply chain management. This entails end-to-end oversight, encompassing sourcing, storage, manufacturing, and shipping raw materials or goods. Supply chain management now involves a holistic view, including product design, engineering, sourcing, logistics, and robust tracking mechanisms. An essential component of this optimization is the strategic procurement of packaging materials. This section will provide valuable insights into the progressive trends shaping supply chain and packaging procurement, showcasing the positive developments in these vital business aspects.


1. Circular Economy Strategies

As environmental awareness continues to surge, businesses are investing significantly in circularity – a sustainable approach to supply chain management to minimize resource consumption, waste generation, and CO2 emissions. Circular practices involve maximizing the reuse of seemingly wasteful materials, returns, and byproducts. As the demand for environmentally conscious products grows, businesses are expected to adopt more eco-friendly supply chain processes, contributing to a greener and more sustainable future.

Sustainable packaging presents a significant opportunity for e-retailers to optimize their supply chains, attract customers, and foster customer loyalty. Numerous studies have demonstrated that consumers increasingly prioritize sustainability in their purchasing decisions. According to the CGS 2019 US Consumer Sustainability Survey, 71% of respondents identified sustainability as a crucial factor, and 46% of them were willing to pay a premium of up to 26% for products that are deemed sustainable. Embracing eco-friendly packaging solutions can be a powerful differentiator for e-retailers, catering to the growing demand for environmentally conscious products and driving customer engagement and satisfaction.

  • Instance, PVH, the parent company of the renowned brand Calvin Klein, has pioneered by becoming the first apparel retailer to join the How2Recycle Initiative. Demonstrating its dedication to environmental stewardship, PVH has set ambitious goals to ensure that all its packaging comprises 100% sustainable and ethically sourced materials by 2025. PVH has already made substantial progress, with 75% of their packaging being recyclable. This achievement has resulted in significant positive impacts, notably saving over 200 tons of plastic from being used annually. By aligning with the How2Recycle Initiative and pursuing sustainable packaging practices, PVH is making significant strides toward reducing its environmental footprint, setting a noteworthy example for the fashion industry, and contributing to a more sustainable future.
  • Instance, Vela Bags, created by Seaman Paper, represent a breakthrough in sustainable packaging solutions for the apparel industry. These transparent biodegradable paper bags offer an eco-friendly alternative to single-use plastic poly bags, addressing the pressing concern of plastic waste pollution.
  • Instance, Ombraz, a prominent eyewear brand, sets itself apart by demonstrating a strong commitment to sustainability. They not only provide their sunglasses in recyclable packaging, but they have also forged a meaningful partnership with Eden Reforestation Projects. For each pair of sunglasses they sell, Ombraz takes the initiative to plant an impressive 20 mangrove trees. This environmentally conscious approach showcases their dedication to offsetting their ecological footprint and contributing positively to the environment. Combining stylish eyewear with impactful reforestation efforts, Ombraz has positioned itself as a socially responsible leader in the eyewear industry.
  1. Supply Chain Customization Trends

The global business landscape is undergoing significant complexity due to rapid technological advancements. Many supply chains need to be more active and contribute effectively to an organization’s profitability or performance. Consequently, companies are actively seeking innovative approaches to optimize this critical aspect of their operations.

  1. Centralized Packaging Distribution for Efficiency

Last-mile delivery is a critical challenge in supply chain management, encompassing the final stretch of a product’s journey from the distribution center to the customer’s doorstep. Among the various supply chain models, centralized distribution is a popular approach familiar to most businesses. In this model, operations are centralized at a single location, and for multiple delivery locations, hubs may be strategically placed to handle different time zones or specific product lines. 

  1. The Benefits of Outsourced Packaging Procurement

Outsourcing packaging procurement is a strategic move that enables companies to build resilient supply chains. The choice of packaging materials directly impacts brand value, profitability, and customer experience for businesses. Multiple factors, including material type, printing and design, and logistics requirements influence packaging costs. By entrusting packaging procurement to external experts, companies can accelerate their time-to-market and reduce operational expenses while maintaining high-quality standards.

Sustainable Packaging Strategies: Enhancing Environmental Responsibility in the Supply Chain

Undoubtedly, embracing even minor changes in packaging design towards sustainability can yield substantial and far-reaching benefits for businesses and the environment. By adopting eco-friendly practices and materials, companies can effectively contribute to resource conservation and alleviate the environmental impact.

In the world of packaging, there is no definitive end point where we can claim perfection. The key lies in acknowledging that change is an inherent part of the process. As a responsible business owner, it becomes essential to consistently evaluate and improve packaging efforts. Embracing smart packaging entails constantly assessing consumer trends and adapting to the prevailing conditions in supply chain management. This proactive approach ensures your packaging stays relevant and aligned with evolving market demands. By remaining open to innovation and being receptive to new opportunities, businesses can stay ahead of the curve and maintain a competitive edge in the dynamic world of packaging solutions.

The following are a few strategies that can improve supply chain packaging sustainability:

Packaging Weight:

  • By implementing intelligent weight and mass reduction techniques in packaging design, businesses can achieve significant cost savings in logistics operations. Maintaining the structural integrity of the packaging while reducing its weight allows for lower fuel consumption during transportation and enables better storage space utilization. 
  • The reduced weight of the packaging materials translates to lighter shipments, leading to decreased fuel consumption for trucks, ships, or airplanes involved in the transportation process. As a result, logistics-related expenses, such as fuel costs, are effectively minimized, contributing to overall cost optimization for the supply chain.

Single-Source Materials:

  • Indeed, while a see-through plastic window may serve marketing purposes by showcasing the product, it often lacks sustainability value when concealed within an opaque container. To promote environmental consciousness, businesses should explore alternatives for mixed-material packaging, especially in consumer-packaged goods (CPG).

Minimal Packaging:

  • Adopting efficient and effective packaging practices aligns with lean manufacturing principles and positively impacts a company’s reputation as an environmentally conscious and authentic sustainability partner.
  • Efficient packaging design optimizes resources and minimizes waste, consistent with lean manufacturing principles, which aim to eliminate non-value-added activities and achieve operational efficiency. By streamlining the packaging process and using materials more judiciously, businesses can reduce costs, enhance productivity, and contribute to a leaner supply chain. 

Dissolvability:

  • Indeed, compostable and plant-based packaging represents an increasingly favourable marketing alternative. These eco-friendly packaging options, ranging from utensils made from starch to protein-based edible flexible films, offer significant value in their efficient ability to biodegrade and return to the earth. 
  • Compostable packaging materials are designed to break down into natural elements when composted, reducing waste and minimizing environmental impact. Such packaging solutions are derived from renewable plant-based sources, which makes them a sustainable and environmentally responsible choice. 
  • Using plant-based materials in packaging demonstrates a commitment to reducing reliance on non-renewable resources, lowering carbon emissions, and promoting a circular economy. Consumers increasingly recognize the importance of sustainable packaging and often prefer brands that align with their environmental values. 

Waste Controls:

  • Maintaining optimal supply chain efficiency is crucial in controlling all forms of waste. This can be achieved through streamlined physical handling and storage processes and strategic collaborations with environmentally-conscious third-party logistics (3PL) providers that adhere to green logistics practices.

Legitimacy:

  • Counterfeit products pose a significant threat, particularly in e-commerce, eroding consumer confidence and trust. Implementing a verification method, such as QR codes on labels or tamper-proof packaging, can effectively address this concern and instill a sense of security among customers.  By integrating QR codes on product labels, customers can easily authenticate the product’s legitimacy. Scanning the QR code with their smartphones provides real-time access to essential information about the product’s origin, manufacturing details, and other relevant data, reassuring buyers of its authenticity.
  • Incorporating tamper-proof packaging further reinforces consumer trust. Packaging with tamper-evident features is a visual cue that the product has not been tampered with or compromised during transit, ensuring customers of its integrity. 
    By adopting these verification methods, businesses demonstrate their commitment to protecting consumers from counterfeit products and safeguarding their brand reputation. This transparency and security give customers the confidence they need to make qualified purchases, ultimately fostering loyalty and repeat business. 

Advanced packaging technologies can enhance supply chain resilience and efficiency.

Building a more resilient supply chain necessitates strategic investments in cutting-edge technologies and seamless interconnectivity of digital tools, physical infrastructure, and their underlying data streams, enabling a shift from descriptive to predictive supply chains.

By leveraging advanced technological solutions, businesses can significantly enhance and fortify supply chain efficiency. Prominent examples of such tools include blockchain technology, which offers secure and transparent transaction tracking, and digital twins, which create virtual replicas of physical assets to optimize performance and predict maintenance needs.

  • Instance, Blockchain technology will revolutionize food packaging, enabling the packaging to serve as a gateway to comprehensive product journey information. For instance, Walmart is actively exploring innovative blockchain solutions to ensure the integrity and traceability of its food supply chain.

Advanced processes and technologies like digital twins play a crucial role in strengthening the resilience of supply chains. Digital twins offer significant benefits by simulating the manufacturing process, providing valuable insights into potential pain points and challenges.

Empowering Supply Chains through Hyperautomation: A Solution for Overcoming Challenges and Enhancing Efficiency

Indeed, hyperautomation represents a transformative approach that combines the power of artificial intelligence (AI) tools with robotic process automation (RPA) to deliver comprehensive end-to-end automation solutions. By integrating these technologies, hyperautomation takes digitalization automation to a new level, enabling businesses to automate complex and diverse business processes.

Deep learning software, a subset of AI, exhibits human-like intelligence and the ability to discern nuances such as deviation and variation in data. When applied to packaging processes, hyperautomation can bring significant advantages.

Hyperautomation presents a groundbreaking solution that can accurately predict packaging applications, encompassing human inspectors’ flexibility and judgment-based decision-making, leading to defect-free outcomes.

Sun Automation’s focus on the corrugated packaging industry demonstrates how hyperautomation can revolutionize manufacturing processes. By providing corrugated manufacturers with insights into machine performance, hyperautomation enables them to proactively manage operations, minimizing downtime and optimizing maintenance schedules. This level of automation facilitates increased profitability by ensuring optimal machine utilization and reducing costly interruptions.

Importance of Primary Packaging in the Supply Chain

A product’s primary packaging serves critical functions such as preserving the product’s quality, providing essential information, and enhancing the overall customer experience. While reducing weight and conserving materials are necessary to minimize transport costs and waste, these initiatives should not compromise the package’s durability and ease of use.

Finding the right balance between sustainability and functionality is crucial. Packaging should be designed with intentional choices regarding materials, function, and shape, ensuring it meets the specific needs of the product’s intended channels. For instance, certain products may require more protective and robust packaging for long-distance shipping, while others may benefit from a more minimalistic design suitable for retail display.

Flexible packaging offers numerous advantages, such as space-saving and extended shelf life for food products. In brick-and-mortar settings, it can reduce a product’s footprint on store shelves without compromising its visibility. The air space in flexible packaging protects the goods and enhances the product’s visual appeal, making it more attractive to consumers.

When designing primary packaging, the primary focus should always be protecting the product and maintaining its quality. Packaging must be robust enough to safeguard the product during transportation and handling.

The following are a few of the top private and public businesses in the supply chain management field:

  • Tetra Laval
  • Crown Holdings
  • Elopak

Market Segmentations

By Marketing Function

  • QR codes
  • Brand Communication

By Flow Function

  • Distributors
  • Manufacturers
  • Warehouse Managers

By Environment

  • Recycled
  • Reused

Report Source: https://www.towardspackaging.com/insights/packaging-in-supply-chain-management-market

 

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Global Logistics, Global Trade Daily, News, Ocean Ports

South Carolina Ports and Maritime Allies Launch Holiday Toy Drive for Foster Children

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In a heartwarming collaboration, SC Ports has joined forces with the International Longshoreman’s Association, Coalition 18, and the Maritime Association of South Carolina to spread joy to South Carolina foster children this holiday season. The maritime community is rallying partners, businesses, and local residents to contribute to the Maritime Toy Drive, aiming to fill an Evergreen shipping container with toys by December 15. All donations will be distributed to foster children in South Carolina by the S.C. Department of Social Services.

Barbara Melvin, President, and CEO of SC Ports, expressed the organization’s year-round commitment to connecting with local communities and emphasized the significant impact of giving back during the holidays. She expressed gratitude for the collaboration with maritime partners and urged people and businesses to participate in supporting this meaningful cause.

Juan Gordon, President of trucking organization Coalition 18, shared the success of last year’s efforts, with nearly 2,000 toys donated to fill the shipping container. He encouraged the community to surpass last year’s achievements, emphasizing that every contribution, no matter how small, makes a difference.

Yvette Flowers, the Financial Secretary Treasurer of the International Longshoremen’s Association Local 1422, echoed the sentiment of giving back to the community. She highlighted the ILA’s commitment to service and encouraged others in the Lowcountry to join them in supporting South Carolina children during the holiday season.

Taylor Jackson, President, and CEO of the Maritime Association of South Carolina, emphasized the integral role of partnership and community service within the maritime community. Jackson expressed pride in supporting such a wonderful cause and urged the broader community to come together to make a positive impact on the lives of South Carolina children during the season of giving.

To contribute to the Maritime Toy Drive, individuals can bring unwrapped toys to SC Ports headquarters or purchase toys online through wish lists at Walmart, Target, or Amazon. The wish lists make it convenient for donors to select and ship gifts directly to the designated address, ensuring a seamless and efficient donation process.

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Global Logistics, Global Trade Daily

Managing ESG risk – the New Supply Chain Challenge

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As multinationals look to diversify their supply chains to avoid a repetition of the disruption they experienced during the pandemic, they are facing a further set of challenges. Regulators and investors are putting pressure on boards to ensure that new and existing suppliers, often spread across multiple jurisdictions, conform to ESG standards. 

Once largely voluntary, compliance is becoming obligatory in many parts of the world – the US and several other countries already have supply chain due diligence legislation in place.  America last year passed the Uyghur Forced Labor Prevention Act  with the New York State Fashion Sustainability and Social Accountability Act  in the pipeline. Other authorities, notably the European Union, are planning such laws. For corporates, the reputational and financial costs of not complying will only mount.

Getting suppliers to sign codes of conduct may have been sufficient in the past.  No more. Regulators are requiring multinationals to report on the due diligence they have conducted to ensure that sourcing companies across all tiers of their entire supply chains are sustainable or, at a minimum, taking active steps to being so. 

For many boards, this will be a huge undertaking, not least because reporting will have to be carried out on a regular basis, not just at the beginning of a business relationship.   

Clearly, the investment required to facilitate continual supply chain monitoring will be substantial, but new compliance technology and, more broadly, a well-thought-out approach to due diligence will secure efficiency savings and limit vulnerability to financial penalties. Moreover, a conscientious multinational will maintain investor confidence and a competitive edge in the marketplace, where sustainability credentials increasingly determine or influence purchasing preferences.  

For corporates, maintaining high levels of scrutiny over their supply chains is necessary due to the patchy governance record of many sourcing companies in emerging markets. Multinationals withdrawing partly – or completely – from China post pandemic may reduce the risk of future disruption, yet they take on ESG risks by shifting sourcing operations to some favoured supply chain relocation destinations, such as Vietnam and Mexico.

Both countries are attractive because they are low-cost and politically and economically stable, but their corruption and human rights records are a concern. Without robust due diligence, there’s a danger that the very clear logistical benefits they offer might be undercut by sustainability shortcomings. Equally, wider geopolitical factors may raise questions about the suitability of a country as a supply chain hub.  Moscow’s allies, for instance, might face sanctions or receive goods from sanctioned entities in Russia that find their way into products exported to Western firms.  Similarly, countries close to China could be drawn into the trade war between Washington and Beijing.  

Given the emerging complexity of supply chains, the need to have a high level of visibility over them, coupled with the manpower this requires, means corporates will invariably need to prioritize compliance efforts. This will likely involve the use of technology to identity and target the highest-risk sourcing countries, where due diligence should be focused. The compliance burden will probably be eased by regional and international certification bodies to which multinationals will signal their adherence to ESG standards, with the former then delegating the latter monitoring, auditing recertification tasks.

Moreover, regulators, such as the EU, in the process of finalizing a major new corporate sustainability due diligence directive,  will take into consideration the enormous effort required to monitor the length and breadth of supply chain networks. As with similar directives, it will likely urge multinationals to report what they can at the outset, which might amount to just 10 per cent of its suppliers. Critically, though, boards will need to demonstrate progress over time which, in the regulators’ eyes, will be more important than base-level starting points. 

In terms of where companies initially concentrate their due diligence efforts, there are two possible options. They might start in low-risk jurisdictions where it is easiest to conduct checks and data is readily available, so that they learn and develop processes that equip them to proceed to more difficult territories.   Alternatively, they could begin where compliance is most important, which would be, as I suggested earlier, the highest-risk sourcing countries.  There are arguments in favor of either approach, although, I would say, it makes sense to start with the most challenging suppliers or countries.

Of course, should multinationals find weaknesses in suppliers’ ESG adherence, they would be best advised to incentivize – not pressure – them into being more compliant. Ultimately, though, corporates must ask themselves whether they are comfortable about the level of risk they have identified.  Reporting for regulators like the EU will not be about declaring there is very low, insignificant risk across your supply chain. Nobody expects that. Nor is that the goal. Rather, it’s about understanding and monitoring risk to decide whether it can be carried, or an alternative supplier needs to be considered. 

Increasingly, ESG credentials will become as, if not more important, than cost when corporates select suppliers because of the growing compliance monitoring bill and the possibility of hefty fines for non-compliance. Boards will never be able to eradicate risk in their supply chains, however a strategic approach to mitigating and managing it will enable them to stay on the right side of regulators and investors.       

Cvete Koneska is head of advisory services at the geopolitical and security intelligence service Dragonfly.

 

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Global Logistics, Global Trade Daily

The Role of Auto Logistics in Corporate Location Programs 

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The pinch from the supply chain bottleneck has been acutely felt in the logistics and transportation solutions field. As the United States has emerged from a raucous pandemic economy, corporate relocation programs have especially felt the pinch of exploding demand for services alongside unstable availability of both equipment and people. This is a reality that is expected to trend upwards for the foreseeable future, especially with inflation and the cost of doing business becoming an additional cause for anxiety. 

Shifting Demands for an Economy on the Move

The great migration of individuals during COVID has been replaced by companies packing up and moving more than ever before. As a result, business leaders continue to be mindful of cost efficiency. This has led to many companies reassessing their real estate needs, as can be seen in the form of return-to-office policies, downsizing, office decentralization and prioritizing more, smaller “satellite” headquarters, and/or relocating headquarters altogether. Also of note is that while companies are not reducing office space, they are becoming more mindful of creating more spacious work environments. 

Along with these shifts, the post-pandemic economy has jumpstarted other economies by creating new opportunities. For example, in the case of car dealerships, more business owners are meeting their private and business clients where they are at either by delivery, or even by moving into the areas that experienced significant population increases. In addition, with conferences and conventions coming back to pre-pandemic levels, more companies recognize the need for showcasing their vehicles on site; this can also include, but is not limited to, car rentals planning for increased demands in specific regions for crowd-attracting events. Simultaneously, more specialists in the trucking industry are experiencing their own “freight recession,” leading to more drivers looking for new opportunities in their sector to keep pace with current realities.

Logistics for any corporate relocation can be challenging, and it’s for that reason that more businesses are turning to auto logistics companies for the unique role they play in successful moves.

As a result, companies that specialize in moving logistics are at the center of the ripple effect of the post-pandemic economy. It is more critical than ever for company leaders to be mindful about one of the most crucial – but often overlooked – investments they can be making in relocation: their vehicles. Just as no responsible employer would hire just anyone to work for their company, no company leader tasked with relocation logistics should pick just any service for moving their cars, trucks, warehouse and utility vehicles, farm equipment, and more. 

How Auto Logistics Support Corporate Relocation

Enter logistical services that specialize in auto deliveries for corporate relocation programs. These companies are pivotal to ensuring that transitions are as seamless, timely, and cost-effective as possible, providing expertise and know-how to the unique ins and outs of freighting literal tons of equipment to new destinations and opportunities. 

Ramping Up

Before any wheels touch the ramp, logisticians prepare to support clients by asking questions related to scale: timing, how many vehicles need to be moved and if they need to be moved all at once or in sequence, size of vehicles, delivery methods, and, of course, distance and what kinds of storage will be required both during and immediately after delivery. The answers to these questions help determine cost estimates, as well as help companies plan what resources – such as freight vehicles and covers – that they will need to support their client.  

Reputable auto transport logistics companies also work with the client on pre-delivery vehicle inspections handling insurance documents to ensure accountability and quality control from start to end, as well as take care of details such as gas tank levels and protection from flying debris. These companies employ individuals with proper licensing, and who follow all traffic safety laws. 

In fact, because exhaustion is the leading cause of injury and even death on the road, and corporate standards for professional freighters meet or exceed these laws, with insurance policies to bolster these precautions. Safety on the road is yet another reason why more companies turn to auto logistics services: to prevent tragedy and liabilities due to tasking valued employees with moving duties.

Getting the Dodge Out of Dodge

Finding the most efficient route from Point A to Point B – or route optimization – is in the best interest of both client and company – and another way in which auto logistics companies play a vital role as partners in corporate relocation. Just as movers have fleets of specialized vehicles and hauling equipment, they also have a suite of tracking and information technology. 

Geolocation tools are a must both to ensure timeliness and accountability. Using modern mapping software, companies are empowered with tools that continue to map and track routes with pinpoint accuracy.

Delivery

Auto logistics drivers, in coordination with both client and coordinator, arrange for predetermined drop-off times and locations. In the event that delivery will either be early or delayed, reputable delivery companies will continue to update their client and provide options for how the client would like to proceed. 

Additionally, drivers will confirm that the car(s) are being delivered in the same condition in which they were dropped off – providing inspections and sign-off from the client. This quality assurance is another role that is delegated by company leaders tasked with relocation. 

From pragmatically moving fleet vehicles to a new location, to helping stage collectible cars for special events, business owners are investing in companies that specialize in ensuring that every vehicle is delivered in pristine condition.

Conclusion: Specialized Services for Any Business

A Sound Investment

The U.S. automotive industry is facing compounding challenges. Ironically, this comes at a time when Americans are more eager than ever to get “on the move” again, both personally and professionally. These setbacks range from notorious supply change issues during COVID, increasing international competition, increasing gas prices, more stringent regulatory demands to electrify personal and commercial vehicles, and, most recently, the “Big Three” auto workers strike grinding production to a standstill once again. All of this has continued to discourage business owners from buying new vehicles upon relocation, and rather holding onto existing equipment as transportation becomes a more efficient use of company resources. 

Furthermore, there are even more complex factors that make every relocation unique, and investors are taking note. Third-party logistics companies are on the rise, as more customers are turning to e-commerce. The rise of more customized delivery services has inadvertently driven up the need for more deliverers for the deliverers, with customization for their clients’ needs.  

No matter whether it is a move across town or across the world, no two moves are the same. It is for this reason that auto logistics companies are being sought more for their expertise in setting up more clients for success in their new locations.

Buyer Take Note: A Word of Caution

It is also worth noting that, unfortunately, there are many scams that impersonate these automotive relocation services. Fraudsters as a whole are more sophisticated than ever, and of course, they are adept at sniffing out opportunities. After all, moving is inherently stressful, whether it is personal, for a small business, or a multinational relocation, as it requires methodical planning often under a tight deadline. As a result, it is important to not fall victim to predatory scammers or services that do not have proven experience in the car logistics industry. 

 

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Global Logistics, Global Trade Daily

How E-Invoicing in Logistics Contributes to a Streamlined Supply Chain

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Efficiency is paramount in logistics and supply chain management—and accurate and timely invoicing is the glue that holds everything together.

Invoices serve as a documented record of the products and services delivered, as well as the corresponding payments due. But invoicing in logistics goes beyond financial record-keeping—it also plays a vital role in the seamless functioning of supply chains.

Any errors in invoicing can have significant consequences. Think payment disputes, strained supplier relationships, and logistical disruptions. All of which may ultimately cause supply chain delays. This not only affects the bottom line but also tarnishes your company’s reputation within the industry.

In this guide, we’ll discuss e-invoicing‘s impact on logistics—and how you can implement a reliable system to streamline your supply chain.

What Is Invoicing in Supply Chain?

Invoicing is particularly important in today’s world of global commerce and logistics, where dependability and reliability are of utmost importance. 

Imagine if there’s a mistake in an invoice—it can cause a lot of problems. For example, if you clear your invoice late, it may lead to arguments about the payment, which may upset suppliers. This causes trust to waiver, leading to cascading effects that may eventually falter the supply chain.

Here’s a quick rundown of the main advantages of accurate and prompt invoicing in the supply chain:

  • Verification of your goods and services: Invoices are tangible proof that a procurement is done. Without proper invoicing, you’ll find it harder to track and verify the exchange of goods along the supply chain, especially when operating on a large scale.
  • Keeping track of money: Invoices provide a detailed account of the cost of goods or services, payment terms, and any applicable taxes or discounts.
  • Payment processing: Buyers use invoices to initiate payments for invoices requested by suppliers. This results in seamless payment processing, ensuring timely payments, and positive supplier relationships.
  • Solving disputes: In case of disagreements or discrepancies in the supply chain, invoices can serve as a reference point to reconcile differences and come to a mutual agreement.

What Is E-Invoicing & How Does It Work in Logistics?

E-invoicing or electronic invoicing is the process of sending digital invoices, aimed at replacing paper-based invoicing or even email attachments. It involves creating, transmitting, receiving, and processing invoices through digital means, often using a specialized software or platform.

E-invoicing provides a structured format to transfer a digital invoice, also called an e-invoice, from supplier to customer electronically—and since both the sending and receiving systems use the same standardized format, they can easily share and recognize data.

E-invoicing vs. Traditional invoicing

Traditional invoicing is a time-consuming process, involving several manual steps like invoice creation, printing, sending, reviewing, approving, and archiving. This makes it prone to potential errors, bad data management, and cash flow delays and incurs additional associated costs such as printing, postage, and filing.

In contrast, e-invoicing is more streamlined, reducing the average processing time to a few days, thanks to electronic transfers and automation. Sending invoices digitally also results in substantial cost savings, eliminating most of the additional costs. 

Moreover, traditional invoicing is prone to security issues, including billing scams, fake invoices, and fraud. This is because the document formats are easily alterable, and invoices can be intercepted or sent fraudulently. On the other hand, e-invoicing uses the secure Peppol network, which requires certified access points for secure sending and receiving. Every invoice has an unchangeable format, improving security and audit trails. 

The Impact of E-Invoicing on Logistics

Looking ahead, 54% of senior supply chain and procurement executives agree that organizations should be ready to make significant changes to successfully manage supply chain destructions over the next years. 

Introducing e-invoicing can be a positive step in this direction—and we don’t say this lightly. 

On-Time Payments

E-invoicing significantly contributes to on-time payments within the supply chain and logistics. Automated payment systems provide flexibility, allowing for early payments to benefit from supplier discounts or strategically timed payments to ensure operational capital availability. This punctuality not only enhances cash flow but also strengthens relationships with suppliers, fostering trust and collaboration.

Real-Time Visibility

Real-time visibility is another advantage of e-invoicing, offering precise insights into cash flow and data-driven decision-making. This empowers businesses to meet demands, scale their supply chain efficiently, and preemptively address potential issues, ultimately enhancing fulfillment and customer satisfaction. 

In contrast, manual invoicing lacks this 24/7 visibility, making it challenging to gauge workflow status accurately. Plus, since humans handle the process, there’s far more potential for errors, especially in multi-stakeholder processes. 

Error Reduction and Process Efficiency

E-invoicing streamlines the invoicing process, reducing the manual effort required in data entry and invoice processing. This not only ensures timely payments but also enhances overall operational efficiency by minimizing administrative overheads, leading to greater cost savings and freeing up resources for strategic tasks.

How To Implement a Reliable Commercial E-Invoicing System

Implementing a reliable commercial e-invoicing system in the logistics sector is a transformative step, but you need to plan and execute it carefully. Failure to do so may result in challenges such as ineffective data storage and complications with ERP systems.

To successfully navigate this transition, consider the following steps:

1) Assess Your Organization’s E-Invoicing Readiness:

Is your organization prepared to transition to e-invoicing?

Create a checklist to understand if e-invoicing makes sense for your company. Find out if your current ERP system can integrate with the e-invoice schema and if your software vendor supports invoicing integration. Then you need to ensure your employees are properly trained to handle the e-invoicing process and accordingly inform stakeholders about the requirements to gain their support.

Step 2: Understand the E-Invoice Schema

One of the biggest problems of traditional invoicing is format variances. Invoicing introduces a standardized format to accommodate international and industry standards. This includes the e-invoice schema, masters, and invoice templates.

You have to familiarize your employees with this new format, particularly the data fields. Understanding this process, along with the invoice issuance, e-way bill generation, and return filing will pave the way for smoother implementation.

Step 3: Select a Vendor for ERP Alignment

Choosing the right vendor is important for realigning your ERP systems with e-invoicing standards.

Ideally, your vendor should have experience and expertise in e-invoicing and taxation laws in your country. If your company is already familiar with its ERP system, there’s no need to purchase a new one. But if you do, your chosen software solution should offer dynamic updates and ongoing (prompt) support during the transition.

Alternatively, you can find a vendor to reconfigure your existing ERP system according to the new scheme, as well as to provide regular updates and staff training.

Step 4: Integrate E-Invoicing Standards with Your Systems

Generally, your software vendor will start integrating invoicing standards into your ERP systems in advance. If this process hasn’t started, you must take immediate action to prepare for this integration using methods like API-based or utility-based solutions.

When choosing between integration methods, you should consider your budget constraints and invoice volume. For instance, API-based solutions have longer implementation timeframes but offer real-time e-invoice generation. On the other hand, utility-based options like Excel are quicker but involve human intervention.

Step 5: Prepare for a Smooth E-Invoicing Launch

Introducing a new invoicing system can be quite a task, where you need to set up new hardware and software and make changes to how things are done. Getting accounts receivable buy-in is your key to smoothing out this transition.

To start, educate your team about the advantages of e-invoicing and get them involved. Make sure everyone knows what the goals are and update the invoice templates to include things like IR and QR codes. You can also consider creating formal expense policies to further control company spending.

Also, talk to your partners and suppliers about using e-invoicing. And during the early stages, keep an eye on how things are going. Check to see if everything is working as it should and fix any problems that pop up.

Today’s Pain is Tomorrow’s Gain

E-invoicing in supply chain makes invoicing easier, boosts efficiency, and strengthens supplier bonds. This ultimately leads to simplified logistics payments, better supplier collaborations, more predictable cash flow, and increased operational efficiency. While e-invoicing might seem a bit unfamiliar at first, the advantages it brings definitely outweigh any initial challenges.

For the latest news and tips on business trends, trust Global Trade Magazine. We’re the experts who stay on top of the latest happenings in the world of e-commerce and trade—providing you with the best advice, news, and trends.

Author Bio

Rana Bano is a one-part B2B content writer and one-part content strategist. She uses these parts to help SaaS brands tell their story, aiming to encourage user engagement and drive traffic. 

 

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Global Logistics, Global Trade Daily, News

Uganda Partners with TA-CargoX Consortium to Develop a Trade Facilitation Platform with Blockchain for Exports 

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Uganda’s Presidential Advisory Committee on Exports and Industrial Development (PACEID) signed the Memorandum of Understanding (MoU) on August 23, 2023  with the Technology Associates & CargoX consortium (TA-CargoX). The MoU aims to establish TradeXchange, a national trade facilitation platform.

PACEID’s objective with this strategic technology partnership is to support exporters, resolve trade bottlenecks, easily comply with global trade standards and buttress Uganda’s ambitious goal of doubling its exports by 2026.

Uganda TradeXchange 

The new platform will be built on CargoX’s Blockchain Document Transfer (BDT) solution for simple, efficient and secure global electronic trade document transfer.

The TradeXchange will be a blockchain-based collaboration platform that streamlines processes and enhances information flow among farmers, producers, traders and government bodies. It helps government offer more efficient regulation on accreditation, quality and produce traceability in a secure manner, promoting trust between participants, preventing fraud, and minimising disputes. It will unify Uganda’s trade practices with global standards, boosting production, packaging, quality control and eventually multiplying export growth.

According to Igor Jakomin, Deputy CEO, CargoX “the CargoX Platform for Blockchain Document Transfer (BDT) is used by more than 115,000 companies worldwide, and has processed more than 5,3+ million electronic trade documents to date, without noticeable downtimes or operation failures.”

In pursuit of international trade standards compliance, the TA-CargoX solution actively collaborates and aligns with the world’s leading trade industry bodies and organisations, such as ICC, UNCITRAL MLETR, ITFA, DCSA, UN /CEFACT, WCO, IRU, FIATA, WEF, DTLF-EU and IGP&I. 

  • “We are pleased to work with CargoX who already do work in COMESA and many other parts of the world, to bring fresh thinking on how to gather, build and utilize data for our Exports from Uganda. Our target of USD6bn in five years would be difficult to attain without more reining our hard infrastructure as well as the soft one in digital performance” Odrek Rwabwogo, Chairman of PACEID.
  • “As PACEID expands Uganda’s market reach, enhances value addition, and doubles export revenue, the TA-CargoX Consortium will provide a robust, globally compliant digital trade platform as the surest means to integrate Uganda into the global trade network. This platform shall automate the import and export value chain, provide visibility in the trade supply chain, ensuring transparency, traceability, authenticity, and reliability in trade processes, as well as save cost directly for all participants,” – Girisch Nair, Chairman of Technology Associates.
  • “We will provide our global blockchain document transfer layer to enable the most secure electronic document exchange. With proven experience where more than 110,000 companies worldwide, use CargoX BDT to process more than 4,8+ million electronic documents to date, we are confident that this will position Uganda at the vanguard of global trading nations, demonstrating their commitment to technological innovation and business transparency. Uganda, renowned for its high-quality goods, will now set a precedent in digital trade processes for other countries to emulate.” Igor Jakomin, Deputy CEO, CargoX.

CargoX BDT is accepted and proven customs technology

The Ugandan TradeXchange platform approach is similar to the integration of the CargoX Platform in the Egyptian international trade facilitation platform NAFEZA, built by MTS, for the purpose of customs import trade processing. This helped the Egyptian government shorten cargo release times from 29 days to under 9 days, reduce import compliance cost from more than 600 USD to under 165 USD, and improve efficiency in cargo import risk assessment, tax revenue collection, and overall cargo flow transparency.

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Global Logistics, Global Trade Daily

Mitigating Supply Chain Risks in an Uncertain Global Economy

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How can businesses fortify their supply chains against the unpredictable tides of the global economy?

In an era where geopolitical upheavals, environmental changes, and shifting regulatory frameworks are the new normal, the resilience of supply chains is not just an operational necessity but a strategic imperative. This article delves into the complexities of building robust supply chains that can weather these challenges.

The global economic landscape is a mosaic of uncertainties, with each piece representing a potential risk to supply chains. From trade wars to pandemics, the factors influencing supply chain stability are numerous and varied. Here, we will explore actionable strategies that businesses can employ to not only navigate but also thrive in this ever-changing environment.

Proactive Risk Identification and Management

In the complex web of modern supply chains, the ability to identify and manage risks proactively is not just beneficial; it’s essential for survival. A thorough risk assessment process acts as the first line of defense, enabling businesses to pinpoint potential disruptions before they escalate into crises. Understanding and adjusting one’s risk tolerance is crucial in this process, as it informs the level of risk a company is willing and able to absorb.

Effective risk management begins with a comprehensive understanding of the supply chain’s vulnerabilities. This understanding includes factors such as geopolitical stability in supplier countries, potential natural disasters, market volatility, and even technological disruptions. By mapping out these areas of vulnerability, companies can develop targeted strategies to mitigate risks.

The advent of advanced analytics has revolutionized this process. Predictive analytics, powered by Artificial Intelligence (AI) and Machine Learning (ML), allow businesses to forecast potential disruptions with greater accuracy. These tools analyze vast amounts of data – from weather patterns to political news – to predict supply chain risks. For example, AI algorithms can monitor social and political developments across the globe, alerting companies to potential supply chain disruptions due to geopolitical tensions.

Moreover, these analytics tools can simulate various risk scenarios, providing companies with insights into how different disruptions might play out. This foresight enables businesses to prepare contingency plans, ranging from identifying alternative suppliers to adjusting inventory levels.

Incorporating predictive analytics into the risk management process transforms supply chain operations from reactive to proactive. It empowers businesses to anticipate challenges and act decisively, ensuring supply chain resilience in an uncertain global economy.

Enhancing Digital Capabilities for Real-time Visibility

In today’s global trading sphere, possessing instant insight into supply chain activities is a substantial edge. The key lies in integrating digital solutions and automating the gathering of data. These advancements bestow businesses with the ability to swiftly adapt to market shifts and supply chain interruptions.

The automation of data collection marks the initial step towards immediate insight. Utilizing technologies like the Internet of Things (IoT), organizations can incessantly acquire data at every juncture of the supply chain. Devices such as sensors and trackers attached to shipments yield real-time updates on their whereabouts, condition, and projected arrival times. This innovation converts the management of supply chains into a more accurate and dependable endeavor.

The next crucial step is the adoption of sophisticated digital platforms. These systems process and analyze the amassed data, transforming it into practical intelligence. For example, cloud-based applications for managing supply chains enable a unified overview of operations, allowing leaders to oversee and maneuver different elements of the supply chain via a singular interface. This consolidated method not only simplifies operations but also amplifies the efficacy and reactiveness of the supply chain.

Furthermore, the integration of technologies like AI and blockchain elevates control and transparency. AI can forecast potential delays and propose the most efficient shipping routes, while blockchain technology guarantees the authenticity and traceability of data. Collectively, these technological advancements create a supply chain that is transparent, resilient, and adaptable to the rapidly evolving global market.

In sum, by embracing digital innovation and automating the process of data collection, enterprises can secure a level of insight indispensable for proactive management of supply chains in the current fluctuating economic climate.

Supply Chain Diversification

Diversifying suppliers and logistics options is a critical strategy for companies looking to mitigate risks associated with over-reliance on single sources. This approach is vital in an era where unexpected disruptions are common, ranging from political instability to natural calamities and global health crises.

The essence of supply chain diversification lies in spreading dependencies across a wider spectrum of sources. By engaging with multiple suppliers and logistics partners, businesses can significantly reduce the risks of a complete standstill in the face of individual supplier or logistical challenges. This strategic spread is particularly crucial in the current global climate, characterized by rapid changes and unforeseen events that can disrupt traditional supply lines.

To effectively diversify, companies should undertake a comprehensive assessment of potential new partners. This evaluation includes scrutinizing their capacity to deliver, compliance with quality standards, and alignment with ethical practices. It often involves building stronger relationships with secondary suppliers or exploring new markets for additional sources.

Another aspect of diversification is the strategic stockpiling of critical materials. Keeping a reserve of essential items, particularly those with scarce sources or long production times, acts as a buffer against supply disruptions. However, this tactic should be carefully managed to balance the costs of inventory and the risk of obsolescence.

Sustainable and Compliant Supply Chain Practices

Incorporating sustainability and regulatory compliance into supply chain practices has become a critical component of modern business resilience. As businesses face increasing scrutiny from consumers, regulators, and investors, the integration of Environmental, Social, and Governance (ESG) criteria into vendor selection and operational practices has become vital for mitigating risks and ensuring long-term success.

The role of ESG criteria in enhancing supply chain resilience is multifaceted. Practices like reducing carbon emissions or ensuring ethical labor conditions align with regulatory requirements and ethical standards, helping safeguard against reputational risks and future regulatory changes. For instance, companies that prioritize suppliers with strong environmental records are less likely to encounter disruptions due to environmental regulation shifts, a factor increasingly considered in ESG-focused investments and business assessments.

Similarly, adherence to social and governance criteria in the supply chain fortifies a business’s standing in the market. Ethical sourcing and fair labor practices, for example, not only comply with increasing regulatory scrutiny but also resonate with a consumer base that is more socially conscious than ever. This alignment enhances brand loyalty and reputation, which are crucial assets in times of market volatility.

Moreover, integrating ESG criteria into supply chain management involves a comprehensive approach, from initial vendor selection to ongoing relationship management. It entails rigorous assessments of potential suppliers’ ESG performance, continuous monitoring, and collaboration to improve practices over time. This proactive approach not only minimizes the risk of non-compliance and associated penalties but also fosters a supply chain that is adaptable and robust against a backdrop of evolving sustainability standards.

Conclusion

In the face of an unpredictable global economy, the strategies outlined above are not just recommendations; they are essential components of a resilient supply chain. Proactive risk management, enhanced digital capabilities, supply chain diversification, and adherence to sustainable and compliant practices form the pillars of a robust supply chain strategy.

Each of these elements plays a unique role in fortifying supply chains against the myriad of challenges presented by today’s dynamic global marketplace. From leveraging advanced analytics for risk prediction to embracing ESG criteria, these strategies collectively ensure that businesses are prepared for the uncertainties of tomorrow.

Ultimately, the goal is clear: to build supply chains that are not only efficient and cost-effective but also resilient and adaptable to change. In doing so, businesses can navigate the complexities of the global economy with confidence, securing their place in the competitive market landscape.

 

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Global Logistics, Global Trade Daily

Revolutionizing Green Supply Chains in the Life Sciences Industry

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In the realm of global healthcare, the need to address sustainability has never been more critical. A recent McKinsey study reveals a startling fact: if the healthcare sector were a nation, it would be the fifth-largest greenhouse gas emitter, releasing a staggering two gigatons of CO2 equivalent into the atmosphere each year. The urgency of this issue cannot be overstated, and it calls for innovative solutions to mitigate the environmental impact while maintaining the industry’s commitment to patient safety and product quality.

Trax Technologies, a trailblazer in Transportation Spend Management (TSM) solutions, has taken on the challenge of helping life sciences companies optimize their supply chain’s scope 3 emissions and prepare for climate reporting. Life sciences firms, including contract manufacturers and healthcare distributors, are at the forefront of delivering life-saving medications and devices to those in need. Yet, they are increasingly recognizing the imperative to strike a balance between their vital services and the carbon emissions they generate.

While safety and quality remain paramount, there is a growing emphasis on addressing the environmental footprint of the sector. In response to these concerns, industry leaders are realizing the benefits of transforming their supply chains, fostering a culture of innovation, and crafting sustainable, industry-specific solutions that take into account the broader social and environmental impact of their operations.

Steve Beda, the Executive Vice President of Customer Success at Trax, notes that optimizing scope 3 emissions can yield immediate advantages. These include making a positive environmental impact, enhancing overall performance, and inspiring other businesses to contribute to a low-carbon economy. Furthermore, cleaning up life sciences supply chains can create a competitive edge among environmentally conscious stakeholders while improving a company’s agility and responsiveness to meet market demands. This optimization simultaneously reduces logistics costs and transportation-related emissions.

In the life sciences industry, the decisions regarding shipping cannot be solely based on cost considerations. Companies need a reliable and efficient Freight Audit and Payment (FAP) partner to navigate the complexities of their supply chains.

As a prominent FAP provider, Trax offers industry leaders data-driven tools and expert advice on supply chain sustainability. Trax’s Carbon Emissions Manager harnesses data from the $24 billion worth of transportation spend invoices the company audits annually. This data provides industry leaders with valuable insights into emissions factors, travel distances, energy combustion efficiency, and the distribution of fuel. Such information empowers businesses to take targeted action in reducing their carbon footprint and other greenhouse gas emissions.

Beda emphasizes the importance of meticulously gathering and analyzing data from all elements and suppliers within the life sciences supply chain. This data is essential for benchmarking, reporting, and establishing reduction processes. As a major consolidator of both cost and emissions data, Trax transforms this information into practical tools that help global enterprises implement environmentally friendly practices, benefitting their operations, stakeholders, and the climate.

Trax recently unveiled an eBook titled “Unlocking Environmental Sustainability in Supply Chains.” This resource delves into sustainability trends and provides an outlook for the future. It serves as a reminder that investments in sustainable ventures can have multifaceted benefits, positively impacting the environment and enhancing business revenue.

In conclusion, the healthcare industry’s environmental impact is a pressing concern, and Trax Technologies is leading the charge in transforming supply chains to minimize their carbon footprint. By optimizing scope 3 emissions and embracing sustainable practices, life sciences companies can achieve competitive advantages, improve their environmental stewardship, and secure a brighter future for both their operations and the planet.

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Global Logistics, Global Trade Daily, News

UPS Successfully Completes Acquisition of MNX Global Logistics, Enhancing Time-Critical Healthcare Services

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UPS (NYSE: UPS) has officially wrapped up its acquisition of MNX Global Logistics (MNX), a renowned global provider of time-critical logistics. The acquisition, which received all necessary regulatory approvals, was finalized on November 2, 2023.

This strategic move to bring MNX under the UPS umbrella aims to bolster the company’s capabilities in time-critical logistics, with a particular focus on serving healthcare customers across the United States, Europe, and Asia. MNX is highly regarded for its consistent and punctual delivery of critical goods, and it has a well-established reputation for transporting radiopharmaceuticals and temperature-sensitive products. This expertise will play a pivotal role in aiding UPS Healthcare and its clinical trial logistics subsidiary, Marken, in meeting the ever-growing demand for these specialized services within the healthcare sector.

With the added knowledge and proficiency from MNX, UPS is poised to maintain its position as an industry leader in delivering global services to customers who require time-critical and temperature-sensitive logistics solutions. This acquisition underscores UPS’s ongoing commitment to invest in cutting-edge technologies and capabilities, ultimately ensuring that customers receive the most dependable and efficient logistics solutions available.