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Warehouse layout optimization tips to increase production

Labor costs, on an average, constitute more than 65% of the expenses for a warehouse. It is a best practice to review the operation of your warehouse before implementing automation, but it also has a significant impact on production and operational efficiency. The processes in a disarrayed warehouse cannot easily be automated as automation heavily relies on warehouse layout optimization, as well as standardized processes and procedures.

Spotlight

Union Maritime Ltd.

Union Maritime Limited is a UK based owner and operator of chemical tankers. The company runs a fleet of tankers focusing on the clean petroleum products (CPP) trade in West Africa (WAF), as well as a number of tankers trading in the international markets. We provide our clients with secure, efficient, cost effective and flexible transportation of refined petroleum products. Ranging in size from general purpose tankers to medium range tankers, our fleet provides the primary means of distribution for oil corporations and trading houses.

OTHER ARTICLES
Supply Chain

Reducing Risk in Your Global Supply Chain

Article | August 17, 2023

The complex, hyper-connected nature of global supply chains makes them extremely vulnerable to a range of risk factors. In 2019, corporations experienced new levels of volatility in commodity and energy pricing, interest and exchange rates, and general international trading conditions. In 2020, things are likely to remain rocky. Research shows that many businesses, despite being forewarned about these risks, are still tending to be reactive rather than proactive in their approach.

Read More
Warehousing and Distribution

Optimize B2B Supply Chain: Maximizing Efficiency from Planning to Delivery

Article | June 16, 2023

Efficiency is crucial for B2B supply chain success. Effective supply chain management techniques can streamline operations, reduce costs, and enhance customer satisfaction from planning to delivery. Contents 1. Strategic Planning to Enhance Supply Chain Optimization 1.1 Roadmap for Developing Supply Chain Optimization 1.2 Integrating Supply Chain Strategy with Business Strategy for ROI Growth 2. Effective Procurement Strategies to Maximise ROI in Supply Chain 2.1 Supplier Relationship Management 2.2 Cost-effective Procurement Processes 2.3 Continuous Improvement and Innovation 2.4 Risk Management and Mitigation 3. Optimizing Supply Chain with Effective Demand Forecasting Techniques 3.1 Anticipate Future Demand 3.2 Overstocking and Understocking Risk Management 3.3 Integrated Forecasting approach between Supply Chain Stakeholders 4. Emerging Technologies for Supply Chain Optimization Leveraged by Enterprises 4.1 AI and ML 4.2 Blockchain Technology 4.3 IoT 4.4 Augmented Reality and Virtual Reality 5. Leading Solution Providers for B2B 6. Conclusion Optimizing the B2B logistics and supply chain management has become a crucial business strategy to increase efficiency, cut costs, and boost customer satisfaction in the fiercely competitive business environment. With the increasing customer demand, supply chain managers now emphasize on faster, more precise, and unique ways to fulfill orders with enhanced logistics management techniques. “Companies that optimize their supply chain operations experience a 2.3 times greater EBITDA (earnings before interest, taxes, depreciation, and amortization) than their competitors.” (Source - A survey by Deloitte in 2020) Despite the significance of supply chain optimization, it is challenging to keep up with the latest industry trends and best practices due to the dynamic nature of the logistics industry. Learning the value of optimizing the B2B supply chain and how it can assist businesses in keeping up with the ever-growing demands of their customers through planning, strategizing and leveraging technologies helps businesses maintain a competitive advantage and achieve sustainable growth. 1. Strategic Planning to Enhance Supply Chain Optimization To achieve optimal results, businesses must develop a comprehensive plan outlining their supply chain improvement goals, objectives, and strategies. 1.1 Roadmap for Developing Supply Chain Optimization Developing a roadmap for supply chain optimization includes reviewing current operations that help in identifying the strengths and weakness of the supply chain management and assist in recognizing the opportunities for improvement, establishing SMART goals and objectives, defining strategies to meet these goals, involve streamlining processes, investing in technology, improving supplier relationships, and engaging customers and actions, as well as ensuring market adaptability to accommodate changing market conditions and evolving customer needs through assessment and adjusting the roadmap. 1.2 Integrating Supply Chain Strategy with Business Strategy for ROI Growth Integration of the supply chain involves aligning the supply chain objectives with the overall business goals, such as revenue growth, cost reduction, and customer satisfaction. The integration ensures the supply chain operations support the business goals, like cost reduction, customer satisfaction and revenue growth. "Companies that successfully integrate their supply chain and business strategies can reduce operating costs by 10-15% and increase efficiency by 20-30%.” (Source - A study by Accenture in 2020) The alignment further helps track KPIs and data-driven decision-making and continuously improves the supply chain operations to achieve objectives. Furthermore, it assists in better planning, coordination, and execution of supply chain activities, resulting in faster and more accurate fulfillment of customer orders. 2. Effective Procurement Strategies to Maximize ROI in Supply Chain Procurement strategies can raise productivity in the fast-paced logistics management and supply chain industry by optimizing the supply chain, boosting efficiency, and giving a competitive edge. 2.1 Supplier Relationship Management Effective supplier relationship management (SRM) can result in more competitive pricing, enhanced product quality, and increased dependability. To accomplish SRM, businesses must identify key suppliers, develop partnerships, communicate effectively to ensure clear expectations and mutual understanding, share information and collaborate to foster innovation and continuous improvement. 2.2 Cost-effective Procurement Processes Implementing cost-effective procurement procedures can help businesses reduce expenses and enhance productivity. To achieve cost-effectiveness, businesses should streamline operations to save time and money, leverage technology to automate processes and improve accuracy and negotiate with suppliers for better pricing and terms. 2.3 Continuous Improvement and Innovation Continuous improvement and innovation are necessary for logistics and the supply chain to remain competitive. This involves regularly reviewing and updating procurement processes, supporting supplier innovation, and keeping up with procurement and supply chain management technology trends and developments. 2.4 Risk Management and Mitigation Effective risk management and mitigation strategies are essential to prevent disruptions in the supply chain. To achieve this, businesses should focus on identifying potential risks and developing mitigation strategies, incorporating redundancy into the supply chain to minimize the impact of disruptions, and establishing transparent emergency communication and escalation procedures. 3. Optimizing Supply Chain with Effective Demand Forecasting Techniques 3.1 Anticipate Future Demand Accurate demand forecasting is crucial for supply chain optimizing done by analyzing real-time supply chain data to identify trends. For demand forecasting, businesses can utilize historical sales data, market trends, and customer feedback. To make accurate forecasts, companies must consider various factors influencing demand, such as seasonality, economic conditions, and shifting customer preferences. 3.2 Overstocking and Understocking Risk Management Demand forecasting errors can lead to overstocking and understocking in supply chain management. Using demand forecasting rightly can determine the optimal inventory level at any given time to avoid overstocking and understocking. Businesses can predict demand and adjust inventory by analyzing sales data, market trends, and other factors. 3.3 Integrated Forecasting approach between Supply Chain Stakeholders The integrated forecasting approach entails coordinating data sharing and communication between all supply chain stakeholders, from suppliers to customers. Stakeholder participation in demand forecasting improves accuracy. In addition, each stakeholder has unique knowledge and perspective that can help identify trends and patterns. 4. Emerging Technologies for Supply Chain Optimization Leveraged by Enterprises 4.1 AI and ML Leading SCM providers do offer regression modeling and causal analysis for demand forecasting. Using AI and ML, the functionality is embedded within the DP module. If a more rigorous and sophisticated approach is desired, it is possible to forecast demand numbers outside the SCM system using sophisticated modeling and then upload them back into the SCM system. 4.2 Blockchain Technology Blockchain enables secure, transparent, and decentralized transactions. It can be utilized in the supply chain to track the movement of goods, reduce the risk of fraud, and increase supply chain visibility by maintaining an immutable record of every transaction. 4.3 IoT To monitor humidity, temperature control, and other environmental factors that affect the quality of products while in transit. IoT helps businesses enhance supply chain visibility, reduce product spoilage risk, and enhance customer satisfaction using modern temperature control technology. 4.4 Augmented Reality and Virtual Reality AR and VR technologies are transforming the supply chain by improving the accuracy of inventory management, reducing errors, and enhancing the training of employees. In addition, its tools can be used to create digital representations of warehouses, products, and equipment, allowing employees to visualize the supply chain and identify areas for improvement. 5. Leading Solution Providers for B2B Several leading B2B companies have been identified based on research for supply chain optimization. To optimize supply chains, these companies have demonstrated a commitment to strategic planning, effective procurement strategies, and demand forecasting techniques. The solution providers also recognize the significance of managing risks associated with overstocking and understocking and have implemented integrated forecasting approaches with their supply chain partners and customers. In addition, these companies use emerging technologies such as augmented reality, virtual reality, cloud technology, machine learning and AI, blockchain technology, and the IoT to improve their supply chain operations. By prioritizing supply chain optimization, the following B2B companies gain a competitive advantage within logistics and supply chain industries and provide exceptional customer experiences. Coupa Software The supply management solutions offered by Coupa Software are hosted in the cloud and make use of machine learning and artificial intelligence to provide businesses with insights that can be used for data-driven decision-making.It assists businesses in tracking the performance of their supply chains compared to key performance indicators, identifying areas in which advancements can be made, and taking action to optimize their supply chain operations. Stord Stord a platform provider, offers a suite of software solutions that improve supply chain management for businesses. Its warehousing, transport, and inventory management solutions are integrated into a single platform. As a result, Stord offers companies greater visibility and control over their supply chains, allowing them to make more informed decisions and optimize operations by combining these functions into a single platform. Roambee Roambee is an artificial intelligence (AI)-powered platform that provides improved supply chain and visibility solutions for real-time, on-demand, and end-to-end data. Using cloud data analytics and automation, it assists in monitoring shipments, inventories, and returnable assets to provide dependable and responsive monitoring solutions. The result is a return on investment (ROI) of 4X or more on the supply chain assets by optimizing inventory levels and utilization. FlowSpace FlowSpace offers cloud-based supply chain solutions. With an internet connection, businesses can access real-time inventory, orders, and shipments from anywhere. Its solutions optimize inventory and demand fulfillment with machine learning and predictive analytics. In addition, IoT sensors and beacons provide accurate warehouse operations data for the company. FlowSpace uses cutting-edge technology to provide efficient and effective supply chain solutions. OPTEL Group OPTEL Group's cutting-edge traceability solutions help businesses optimize their supply chain. These solutions permit businesses to track their products and materials throughout the supply chain, from production to distribution. It's traceability solutions provide businesses with real-time visibility into their supply chain operations by utilizing advanced data capture technologies such as barcode scanning, RFID, and serialization. This allows them to identify potential bottlenecks, optimize workflows, and decrease waste and inefficiency. Blue Ridge Blue Ridge,a provider of cloud-based supply chain solutions, has developed a suite of solutions that make use of machine learning and artificial intelligence to improve the accuracy of forecasts, reduce the costs associated with inventory, and increase company's profitability. It does this by providing businesses with flexible and scalable solutions, as well as ones that can be adapted to meet the particular requirements of each business. GMDH Streamline GMDH Streamline makes use of complex algorithms to perform data analysis and provide insights that, when implemented in B2B logistics operations, can lead to increased efficiency and a reduction in costs. This software can analyze past sales data and make predictions about future demand patterns, which helps to ensure that the right products are always available for purchase. Because of this, there will be less of a need for excessive stockpiling, which can prevent the free flow of capital and raise the risk of stock obsolescence. Netstock Netstock's cloud-based solutions provide businesses the agility and responsiveness they need to stay competitive in the ever-changing business landscape. With its seamless integration with industry-leading ERPs, Netstock unlocks valuable ERP data and enables businesses to make informed decisions based on enhanced analytics. In addition, by leveraging Netstock's solutions, businesses can respond swiftly to supply and demand fluctuations, resulting in optimized logistics and efficient supply chain management. Solvoyo With Solvoyo's platform, businesses can optimize their supply chain performance, reduce inefficiencies, and achieve cost savings. In addition, the platform offers advanced scenario modeling and real-time analytics to help companies to make informed decisions and quickly adapt to changing market conditions. By leveraging Solvoyo's capabilities, businesses can achieve a competitive advantage and drive growth in the dynamic world of supply chain management. American Software, Inc. American Software provides logistics and supply chain companies with supply chain management software solutions. Its solutions including supply chain planning, warehouse management, transportation management, global trade management, and vendor inventory management are intended to assist businesses in optimizing their B2B logistics operations, increasing their efficiency, and lowering their expenses. In addition, it provides modern temperature control technology to ensure safe and efficient transport of temperature-sensitive goods in the supply chain. 6. Conclusion “The global supply chain management market size is expected to reach USD 37.4 billion at a CAGR of 11.3% by 2027." (Source - Grand View Research) The anticipated growth of the global supply chain management market presents businesses with opportunities to enhance their supply chain operations by implementing innovative technologies and strategies. The increase in market size indicates a growing demand for efficient supply chain management solutions that reduce costs, optimize efficiency, and improve customer satisfaction. Businesses can use AI, blockchain, and augmented reality to analyze real-time data, forecast demand, and streamline procurement. These technologies and strategies can give logistics and supply chain management businesses an edge in the increasingly competitive marketplace.

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Warehousing and Distribution

Boosting Efficiency with Carrier Management

Article | July 11, 2023

Carrier management systems have undergone much evolution thanks to the exponential development in shipping and logistics technology. Although its primary mission was to assign, control, and track shippers and carriers, the industry's post-pandemic trends have reflected a variety of new best practices. Traditionally, many carrier management systems were manually operated and made extensive use of paper processes that didn’t provide perks like real-time data, reporting functionalities, or the visibility to make informed decisions. Today’s carrier management systems comprise these features and go even further. They offer tangible improvements and advantages that impact the bottom line. Here are three things you should look for in a carrier management solution to make sure your digital transformation goes as well as possible. Support for a Diverse Range of Carriers To effectively manage your carriers, it’s essential to be able to keep up with technologies used by everything from small to large carriers. The ability to support modern technologies and EDI that are routinely used by larger carriers while also offering online portals and mobile-readiness is integral. A platform that supports a diverse range of carrier sizes helps streamline processes and eliminate friction between operational groups. It also offers all carriers on the system the ability to stay in the loop and access the same data for load and freight boards to keep the freight moving. Performance Mapping Capabilities The ability to track performance and keep an eye on crucial metrics is an important consideration for a carrier management system. Real-time data bolsters carrier relationships and equips you with the ability to control and manage factors like load capacity, location of your fuel and fleet, and intimate teams on issues like inventory, sourcing, forecasting, and dispatching in real-time. Not only does this positively impact shippers, but carriers as well. With an overview into their own performance, carriers are empowered to course-correct and respond to sudden hurdles in time. Shippers must be able to get access to the following metrics in order to have the upper hand in rate negotiations with carriers: On-time performance Data accuracy Compliance Status update timelines Collaboration-Friendly Platforms A flexible solution that allows shippers to work collaboratively ensures strategic flexibility. Monitoring the performance across different modes including truckload, intermodal, and LTL as well as parcel consolidators and shippers. Today, carrier management systems and other digital solutions are able to integrate these modes and offer superior capabilities when it comes to receiving updates from all modes in real-time. When combined with cloud-based solutions, carrier management can take efficiency to a whole new level. To Conclude The success of your supply chain and company depends on your partnerships with your carriers, which can also have a significant impact on your ROI, particularly as the market continues to transform further towards third party partnerships. In order to foster carrier performance, carrier management should be a significant part of your strategy.

Read More

For information on our commitment and Tomorrow Rising fund to helping communities recover from the Covid-19 crisis

Article | June 27, 2020

With half a million people benefited in 60+ countries, the Tomorrow Rising Fund is now focusing on education and professional training programs to secure the best future for young people and their communities affected by COVID-19. Two months after launching the Tomorrow Rising fund to support Covid-19 emergency relief in April 2020, Schneider Electric’s Foundation moves forward to support recovery and resiliency through education and training programs. The Tomorrow Rising Fund was launched to support emergency and longer-term reconstruction related to Covid-19 in all the countries where Schneider Electric operates. The Schneider Electric Foundation appealed to its leaders and employees to get involved and all their donations have been matched by the Group. Other external stakeholders and partners have also contributed.

Read More
Supply Chain

Inventory Management Best Practices for Supply Chain Distribution

Article | August 17, 2023

The complex, hyper-connected nature of global supply chains makes them extremely vulnerable to a range of risk factors. In 2019, corporations experienced new levels of volatility in commodity and energy pricing, interest and exchange rates, and general international trading conditions. In 2020, things are likely to remain rocky. Research shows that many businesses, despite being forewarned about these risks, are still tending to be reactive rather than proactive in their approach.

Read More
Warehousing and Distribution

Drive Insights from Upcoming Warehousing Conferences and Events

Article | June 16, 2023

Efficiency is crucial for B2B supply chain success. Effective supply chain management techniques can streamline operations, reduce costs, and enhance customer satisfaction from planning to delivery. Contents 1. Strategic Planning to Enhance Supply Chain Optimization 1.1 Roadmap for Developing Supply Chain Optimization 1.2 Integrating Supply Chain Strategy with Business Strategy for ROI Growth 2. Effective Procurement Strategies to Maximise ROI in Supply Chain 2.1 Supplier Relationship Management 2.2 Cost-effective Procurement Processes 2.3 Continuous Improvement and Innovation 2.4 Risk Management and Mitigation 3. Optimizing Supply Chain with Effective Demand Forecasting Techniques 3.1 Anticipate Future Demand 3.2 Overstocking and Understocking Risk Management 3.3 Integrated Forecasting approach between Supply Chain Stakeholders 4. Emerging Technologies for Supply Chain Optimization Leveraged by Enterprises 4.1 AI and ML 4.2 Blockchain Technology 4.3 IoT 4.4 Augmented Reality and Virtual Reality 5. Leading Solution Providers for B2B 6. Conclusion Optimizing the B2B logistics and supply chain management has become a crucial business strategy to increase efficiency, cut costs, and boost customer satisfaction in the fiercely competitive business environment. With the increasing customer demand, supply chain managers now emphasize on faster, more precise, and unique ways to fulfill orders with enhanced logistics management techniques. “Companies that optimize their supply chain operations experience a 2.3 times greater EBITDA (earnings before interest, taxes, depreciation, and amortization) than their competitors.” (Source - A survey by Deloitte in 2020) Despite the significance of supply chain optimization, it is challenging to keep up with the latest industry trends and best practices due to the dynamic nature of the logistics industry. Learning the value of optimizing the B2B supply chain and how it can assist businesses in keeping up with the ever-growing demands of their customers through planning, strategizing and leveraging technologies helps businesses maintain a competitive advantage and achieve sustainable growth. 1. Strategic Planning to Enhance Supply Chain Optimization To achieve optimal results, businesses must develop a comprehensive plan outlining their supply chain improvement goals, objectives, and strategies. 1.1 Roadmap for Developing Supply Chain Optimization Developing a roadmap for supply chain optimization includes reviewing current operations that help in identifying the strengths and weakness of the supply chain management and assist in recognizing the opportunities for improvement, establishing SMART goals and objectives, defining strategies to meet these goals, involve streamlining processes, investing in technology, improving supplier relationships, and engaging customers and actions, as well as ensuring market adaptability to accommodate changing market conditions and evolving customer needs through assessment and adjusting the roadmap. 1.2 Integrating Supply Chain Strategy with Business Strategy for ROI Growth Integration of the supply chain involves aligning the supply chain objectives with the overall business goals, such as revenue growth, cost reduction, and customer satisfaction. The integration ensures the supply chain operations support the business goals, like cost reduction, customer satisfaction and revenue growth. "Companies that successfully integrate their supply chain and business strategies can reduce operating costs by 10-15% and increase efficiency by 20-30%.” (Source - A study by Accenture in 2020) The alignment further helps track KPIs and data-driven decision-making and continuously improves the supply chain operations to achieve objectives. Furthermore, it assists in better planning, coordination, and execution of supply chain activities, resulting in faster and more accurate fulfillment of customer orders. 2. Effective Procurement Strategies to Maximize ROI in Supply Chain Procurement strategies can raise productivity in the fast-paced logistics management and supply chain industry by optimizing the supply chain, boosting efficiency, and giving a competitive edge. 2.1 Supplier Relationship Management Effective supplier relationship management (SRM) can result in more competitive pricing, enhanced product quality, and increased dependability. To accomplish SRM, businesses must identify key suppliers, develop partnerships, communicate effectively to ensure clear expectations and mutual understanding, share information and collaborate to foster innovation and continuous improvement. 2.2 Cost-effective Procurement Processes Implementing cost-effective procurement procedures can help businesses reduce expenses and enhance productivity. To achieve cost-effectiveness, businesses should streamline operations to save time and money, leverage technology to automate processes and improve accuracy and negotiate with suppliers for better pricing and terms. 2.3 Continuous Improvement and Innovation Continuous improvement and innovation are necessary for logistics and the supply chain to remain competitive. This involves regularly reviewing and updating procurement processes, supporting supplier innovation, and keeping up with procurement and supply chain management technology trends and developments. 2.4 Risk Management and Mitigation Effective risk management and mitigation strategies are essential to prevent disruptions in the supply chain. To achieve this, businesses should focus on identifying potential risks and developing mitigation strategies, incorporating redundancy into the supply chain to minimize the impact of disruptions, and establishing transparent emergency communication and escalation procedures. 3. Optimizing Supply Chain with Effective Demand Forecasting Techniques 3.1 Anticipate Future Demand Accurate demand forecasting is crucial for supply chain optimizing done by analyzing real-time supply chain data to identify trends. For demand forecasting, businesses can utilize historical sales data, market trends, and customer feedback. To make accurate forecasts, companies must consider various factors influencing demand, such as seasonality, economic conditions, and shifting customer preferences. 3.2 Overstocking and Understocking Risk Management Demand forecasting errors can lead to overstocking and understocking in supply chain management. Using demand forecasting rightly can determine the optimal inventory level at any given time to avoid overstocking and understocking. Businesses can predict demand and adjust inventory by analyzing sales data, market trends, and other factors. 3.3 Integrated Forecasting approach between Supply Chain Stakeholders The integrated forecasting approach entails coordinating data sharing and communication between all supply chain stakeholders, from suppliers to customers. Stakeholder participation in demand forecasting improves accuracy. In addition, each stakeholder has unique knowledge and perspective that can help identify trends and patterns. 4. Emerging Technologies for Supply Chain Optimization Leveraged by Enterprises 4.1 AI and ML Leading SCM providers do offer regression modeling and causal analysis for demand forecasting. Using AI and ML, the functionality is embedded within the DP module. If a more rigorous and sophisticated approach is desired, it is possible to forecast demand numbers outside the SCM system using sophisticated modeling and then upload them back into the SCM system. 4.2 Blockchain Technology Blockchain enables secure, transparent, and decentralized transactions. It can be utilized in the supply chain to track the movement of goods, reduce the risk of fraud, and increase supply chain visibility by maintaining an immutable record of every transaction. 4.3 IoT To monitor humidity, temperature control, and other environmental factors that affect the quality of products while in transit. IoT helps businesses enhance supply chain visibility, reduce product spoilage risk, and enhance customer satisfaction using modern temperature control technology. 4.4 Augmented Reality and Virtual Reality AR and VR technologies are transforming the supply chain by improving the accuracy of inventory management, reducing errors, and enhancing the training of employees. In addition, its tools can be used to create digital representations of warehouses, products, and equipment, allowing employees to visualize the supply chain and identify areas for improvement. 5. Leading Solution Providers for B2B Several leading B2B companies have been identified based on research for supply chain optimization. To optimize supply chains, these companies have demonstrated a commitment to strategic planning, effective procurement strategies, and demand forecasting techniques. The solution providers also recognize the significance of managing risks associated with overstocking and understocking and have implemented integrated forecasting approaches with their supply chain partners and customers. In addition, these companies use emerging technologies such as augmented reality, virtual reality, cloud technology, machine learning and AI, blockchain technology, and the IoT to improve their supply chain operations. By prioritizing supply chain optimization, the following B2B companies gain a competitive advantage within logistics and supply chain industries and provide exceptional customer experiences. Coupa Software The supply management solutions offered by Coupa Software are hosted in the cloud and make use of machine learning and artificial intelligence to provide businesses with insights that can be used for data-driven decision-making.It assists businesses in tracking the performance of their supply chains compared to key performance indicators, identifying areas in which advancements can be made, and taking action to optimize their supply chain operations. Stord Stord a platform provider, offers a suite of software solutions that improve supply chain management for businesses. Its warehousing, transport, and inventory management solutions are integrated into a single platform. As a result, Stord offers companies greater visibility and control over their supply chains, allowing them to make more informed decisions and optimize operations by combining these functions into a single platform. Roambee Roambee is an artificial intelligence (AI)-powered platform that provides improved supply chain and visibility solutions for real-time, on-demand, and end-to-end data. Using cloud data analytics and automation, it assists in monitoring shipments, inventories, and returnable assets to provide dependable and responsive monitoring solutions. The result is a return on investment (ROI) of 4X or more on the supply chain assets by optimizing inventory levels and utilization. FlowSpace FlowSpace offers cloud-based supply chain solutions. With an internet connection, businesses can access real-time inventory, orders, and shipments from anywhere. Its solutions optimize inventory and demand fulfillment with machine learning and predictive analytics. In addition, IoT sensors and beacons provide accurate warehouse operations data for the company. FlowSpace uses cutting-edge technology to provide efficient and effective supply chain solutions. OPTEL Group OPTEL Group's cutting-edge traceability solutions help businesses optimize their supply chain. These solutions permit businesses to track their products and materials throughout the supply chain, from production to distribution. It's traceability solutions provide businesses with real-time visibility into their supply chain operations by utilizing advanced data capture technologies such as barcode scanning, RFID, and serialization. This allows them to identify potential bottlenecks, optimize workflows, and decrease waste and inefficiency. Blue Ridge Blue Ridge,a provider of cloud-based supply chain solutions, has developed a suite of solutions that make use of machine learning and artificial intelligence to improve the accuracy of forecasts, reduce the costs associated with inventory, and increase company's profitability. It does this by providing businesses with flexible and scalable solutions, as well as ones that can be adapted to meet the particular requirements of each business. GMDH Streamline GMDH Streamline makes use of complex algorithms to perform data analysis and provide insights that, when implemented in B2B logistics operations, can lead to increased efficiency and a reduction in costs. This software can analyze past sales data and make predictions about future demand patterns, which helps to ensure that the right products are always available for purchase. Because of this, there will be less of a need for excessive stockpiling, which can prevent the free flow of capital and raise the risk of stock obsolescence. Netstock Netstock's cloud-based solutions provide businesses the agility and responsiveness they need to stay competitive in the ever-changing business landscape. With its seamless integration with industry-leading ERPs, Netstock unlocks valuable ERP data and enables businesses to make informed decisions based on enhanced analytics. In addition, by leveraging Netstock's solutions, businesses can respond swiftly to supply and demand fluctuations, resulting in optimized logistics and efficient supply chain management. Solvoyo With Solvoyo's platform, businesses can optimize their supply chain performance, reduce inefficiencies, and achieve cost savings. In addition, the platform offers advanced scenario modeling and real-time analytics to help companies to make informed decisions and quickly adapt to changing market conditions. By leveraging Solvoyo's capabilities, businesses can achieve a competitive advantage and drive growth in the dynamic world of supply chain management. American Software, Inc. American Software provides logistics and supply chain companies with supply chain management software solutions. Its solutions including supply chain planning, warehouse management, transportation management, global trade management, and vendor inventory management are intended to assist businesses in optimizing their B2B logistics operations, increasing their efficiency, and lowering their expenses. In addition, it provides modern temperature control technology to ensure safe and efficient transport of temperature-sensitive goods in the supply chain. 6. Conclusion “The global supply chain management market size is expected to reach USD 37.4 billion at a CAGR of 11.3% by 2027." (Source - Grand View Research) The anticipated growth of the global supply chain management market presents businesses with opportunities to enhance their supply chain operations by implementing innovative technologies and strategies. The increase in market size indicates a growing demand for efficient supply chain management solutions that reduce costs, optimize efficiency, and improve customer satisfaction. Businesses can use AI, blockchain, and augmented reality to analyze real-time data, forecast demand, and streamline procurement. These technologies and strategies can give logistics and supply chain management businesses an edge in the increasingly competitive marketplace.

Read More
Warehousing and Distribution

Top 10 Warehouse Automation Tools to Optimize Supply Chain Performance

Article | July 11, 2023

Carrier management systems have undergone much evolution thanks to the exponential development in shipping and logistics technology. Although its primary mission was to assign, control, and track shippers and carriers, the industry's post-pandemic trends have reflected a variety of new best practices. Traditionally, many carrier management systems were manually operated and made extensive use of paper processes that didn’t provide perks like real-time data, reporting functionalities, or the visibility to make informed decisions. Today’s carrier management systems comprise these features and go even further. They offer tangible improvements and advantages that impact the bottom line. Here are three things you should look for in a carrier management solution to make sure your digital transformation goes as well as possible. Support for a Diverse Range of Carriers To effectively manage your carriers, it’s essential to be able to keep up with technologies used by everything from small to large carriers. The ability to support modern technologies and EDI that are routinely used by larger carriers while also offering online portals and mobile-readiness is integral. A platform that supports a diverse range of carrier sizes helps streamline processes and eliminate friction between operational groups. It also offers all carriers on the system the ability to stay in the loop and access the same data for load and freight boards to keep the freight moving. Performance Mapping Capabilities The ability to track performance and keep an eye on crucial metrics is an important consideration for a carrier management system. Real-time data bolsters carrier relationships and equips you with the ability to control and manage factors like load capacity, location of your fuel and fleet, and intimate teams on issues like inventory, sourcing, forecasting, and dispatching in real-time. Not only does this positively impact shippers, but carriers as well. With an overview into their own performance, carriers are empowered to course-correct and respond to sudden hurdles in time. Shippers must be able to get access to the following metrics in order to have the upper hand in rate negotiations with carriers: On-time performance Data accuracy Compliance Status update timelines Collaboration-Friendly Platforms A flexible solution that allows shippers to work collaboratively ensures strategic flexibility. Monitoring the performance across different modes including truckload, intermodal, and LTL as well as parcel consolidators and shippers. Today, carrier management systems and other digital solutions are able to integrate these modes and offer superior capabilities when it comes to receiving updates from all modes in real-time. When combined with cloud-based solutions, carrier management can take efficiency to a whole new level. To Conclude The success of your supply chain and company depends on your partnerships with your carriers, which can also have a significant impact on your ROI, particularly as the market continues to transform further towards third party partnerships. In order to foster carrier performance, carrier management should be a significant part of your strategy.

Read More

For information on our commitment and Tomorrow Rising fund to helping communities recover from the Covid-19 crisis

Article | June 27, 2020

With half a million people benefited in 60+ countries, the Tomorrow Rising Fund is now focusing on education and professional training programs to secure the best future for young people and their communities affected by COVID-19. Two months after launching the Tomorrow Rising fund to support Covid-19 emergency relief in April 2020, Schneider Electric’s Foundation moves forward to support recovery and resiliency through education and training programs. The Tomorrow Rising Fund was launched to support emergency and longer-term reconstruction related to Covid-19 in all the countries where Schneider Electric operates. The Schneider Electric Foundation appealed to its leaders and employees to get involved and all their donations have been matched by the Group. Other external stakeholders and partners have also contributed.

Read More
MORE ARTICLES

Spotlight

Union Maritime Ltd.

Union Maritime Limited is a UK based owner and operator of chemical tankers. The company runs a fleet of tankers focusing on the clean petroleum products (CPP) trade in West Africa (WAF), as well as a number of tankers trading in the international markets. We provide our clients with secure, efficient, cost effective and flexible transportation of refined petroleum products. Ranging in size from general purpose tankers to medium range tankers, our fleet provides the primary means of distribution for oil corporations and trading houses.

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Ferguson and Trimble Team Up to Digitalize Construction Supply Chain

Trimble Inc | November 08, 2023

Ferguson joins Trimble Supplier Xchange, streamlining the construction supply chain. Trimble's Supplier Xchange handles 10,000+ digital connections, 18B in monthly quotes. This integration automates pricing info to purchase orders, reducing errors and streamlining workflows. Trimble, a leading technology, software, and services solutions provider for the architecture, engineering, and construction (AEC) industry, and Ferguson have recently announced a significant development in the construction supply chain. Ferguson locations nationwide have officially joined the Trimble Supplier Xchange digital pricing and procurement network. This development marks a pivotal step and further digitalizes and streamlines construction supply chain operations, benefiting both mechanical and commercial customers. Furthermore, it enhances efficiency between construction teams and their most crucial business partners. Trimble's Supplier Xchange network currently facilitates over 10,000 digital connections between specialty subcontractors and their preferred suppliers. It handles an impressive average of 130,000 quote requests every month, with an average total value of USD 18 billion per month. The integration between Ferguson and Supplier Xchange enables contractors to access up-to-date, contracted pricing information and seamlessly convert it into a purchase order (PO). This PO flows directly into the contractor's Enterprise Resource Planning (ERP) system, ensuring that the order is placed and financially accounted for in the ERP system without delay. This streamlined process significantly reduces the time required and minimizes errors typically associated with manual data entry, thanks to the automatic synchronization of the purchase order. By becoming a part of the Supplier Xchange network, Ferguson, a prominent commercial mechanical distributor in the United States, is proactively addressing the common pain points faced by contractors in their day-to-day workflows. Tom Sullivan, Commercial Construction Services and Technology Director at Ferguson highlighted that prioritizing digital connections with their customers was of utmost importance. He explained that as their customers are increasingly looking for ways to cut costs and enhance efficiency, accuracy, and timeliness, Supplier Xchange would empower them to offer real-time customer-specific information. This would effectively reduce the manual processes and time needed in the workflows related to estimating, Virtual Design and Construction (VDC), purchasing, project management, and accounting. The official announcement took place at Trimble Dimensions 2023, where both Ferguson and Trimble are showcasing the Supplier Xchange network. Trimble Construction Management Solutions' Vice President and General Manager Lawrence Smith emphasized that it had never been more crucial to integrate technology solutions to enhance the speed, accuracy, and seamlessness of information sharing across the construction supply chain. He stated that the data collaboration between Ferguson and Trimble was delivering increased efficiency, precision, and swiftness in their customers' workflows, encompassing estimating, procurement, purchasing, accounting, and project management.

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Transportation

ACERTUS Unveils New Transportation Management System for Auto Shippers

ACERTUS | November 07, 2023

ACERTUS, a leading automotive logistics-as-a-service platform, has unveiled its new Transportation Management System (TMS). This cutting-edge system grants vehicle shippers unparalleled visibility into their operations, featuring real-time GPS tracking, advanced digital inspection data, automated reporting, and customized data visualization. By harnessing the power of machine learning and seamless connectivity with ACERTUS' digitally-enabled transport network, this platform successfully addresses a long-standing challenge within the vehicle shipping process—namely, the lack of transparency regarding asset location as it traverses the supply chain. Trent Broberg, the Chief Executive Officer at ACERTUS, remarked that modern-day technology has made it extremely easy to track products ordered online during the delivery process. However, there still existed substantial blind spots when it came to shipping cars. In this context, he explained that their new Transportation Management System is driving the industry forward by providing shippers with real-time vehicle visibility, modernizing the process, and eliminating guesswork. The TMS connects shippers with the largest multimodal transport network of carriers and drive-away drivers in North America. It simplifies and streamlines auto shipping, offering instant quotes, single and multi-VIN ordering, standard and expedited shipping rates, and API connectivity for seamless integration with existing operating systems. This release represents ACERTUS' ongoing commitment to delivering advanced, proprietary products that enhance automotive supply chain management. About ACERTUS ACERTUS is a leading omnichannel automotive logistics as a service platform that provides integrated end-to-end solutions for vehicle lifecycle management. By placing a strong emphasis on technology and innovation, ACERTUS offers a comprehensive suite of services, including vehicle storage, transport, maintenance, registration, title, care & maintenance, repossession, freight transport and compliance services, among others. The company consolidates these services under one roof, thereby significantly enhancing efficiency and reliability for its customers throughout the entire vehicle journey.

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Supply Chain

Imperial Dade Advances Growth with Acquisition of Advance Shipping Supplies

Imperial Dade | November 06, 2023

Imperial Dade acquires Advance Shipping Supplies, Inc. as its 75th acquisition. Imperial Dade maintains its 15-year growth strategy, combining organic initiatives and acquisitions. Dave Waite, President of Advance Shipping Supplies, emphasizes the company's legacy and commitment to customer service as it joins Imperial Dade. Imperial Dade, a prominent distributor specializing in food service packaging, printing papers, and janitorial supplies, has recently announced its acquisition of Advance Shipping Supplies, Inc. This transaction marks the 75th acquisition made by Imperial Dade under the leadership of Robert and Jason Tillis, who serve as the Chairman and CEO of the company, respectively. The specific financial details of this private transaction have not been disclosed. Imperial Dade maintains its unwavering commitment to the strategic direction established over 15 years ago. This direction involves sustained growth through a combination of organic initiatives and a carefully managed acquisition process. Advance Shipping Supplies Inc., established in 1985, has a remarkable 38-year track record as a leading distributor of industrial supplies, packaging materials, and janitorial products. Under the guidance of its founder, Dave Waite, Advance continues to be a critical supplier in the Ontario market, delivering essential products to its clientele. The company places a strong emphasis on customer service and is strategically positioned to ensure prompt and accurate deliveries. By leveraging the extensive capabilities of Imperial Dade Canada's top-tier platform, Advance's customers can look forward to receiving the same exceptional customized service, now complemented by an even broader range of products and solutions. Jason Tillis, the CEO of Imperial Dade, expressed his warm welcome to the Advance family. He noted that Advance possessed a dedicated customer base and a strong commitment to delivering an exceptional customer experience, which, in his view, made it a valuable addition to their expanding North American platform. Stephane Lapointe, the President of Imperial Dade Canada, added that partnering with Advance marked another significant stride in their objective of becoming the leading national specialty distributor of industrial, food service, and janitorial products. He also mentioned Imperial Dade's eagerness to build upon its existing success and to continually explore ways to enhance its service to both customers and vendor partners. Dave Waite, the President of Advance Shipping Supplies, Inc., stated that the legacy created by Advance over the past approximately 40 years would serve as a strong foundation for Imperial Dade's future growth. He expressed that, under the guidance of Imperial Dade, they would maintain their commitment to delivering exceptional customer service while also expediting the growth they had witnessed in recent years.

Read More

Supply Chain

Ferguson and Trimble Team Up to Digitalize Construction Supply Chain

Trimble Inc | November 08, 2023

Ferguson joins Trimble Supplier Xchange, streamlining the construction supply chain. Trimble's Supplier Xchange handles 10,000+ digital connections, 18B in monthly quotes. This integration automates pricing info to purchase orders, reducing errors and streamlining workflows. Trimble, a leading technology, software, and services solutions provider for the architecture, engineering, and construction (AEC) industry, and Ferguson have recently announced a significant development in the construction supply chain. Ferguson locations nationwide have officially joined the Trimble Supplier Xchange digital pricing and procurement network. This development marks a pivotal step and further digitalizes and streamlines construction supply chain operations, benefiting both mechanical and commercial customers. Furthermore, it enhances efficiency between construction teams and their most crucial business partners. Trimble's Supplier Xchange network currently facilitates over 10,000 digital connections between specialty subcontractors and their preferred suppliers. It handles an impressive average of 130,000 quote requests every month, with an average total value of USD 18 billion per month. The integration between Ferguson and Supplier Xchange enables contractors to access up-to-date, contracted pricing information and seamlessly convert it into a purchase order (PO). This PO flows directly into the contractor's Enterprise Resource Planning (ERP) system, ensuring that the order is placed and financially accounted for in the ERP system without delay. This streamlined process significantly reduces the time required and minimizes errors typically associated with manual data entry, thanks to the automatic synchronization of the purchase order. By becoming a part of the Supplier Xchange network, Ferguson, a prominent commercial mechanical distributor in the United States, is proactively addressing the common pain points faced by contractors in their day-to-day workflows. Tom Sullivan, Commercial Construction Services and Technology Director at Ferguson highlighted that prioritizing digital connections with their customers was of utmost importance. He explained that as their customers are increasingly looking for ways to cut costs and enhance efficiency, accuracy, and timeliness, Supplier Xchange would empower them to offer real-time customer-specific information. This would effectively reduce the manual processes and time needed in the workflows related to estimating, Virtual Design and Construction (VDC), purchasing, project management, and accounting. The official announcement took place at Trimble Dimensions 2023, where both Ferguson and Trimble are showcasing the Supplier Xchange network. Trimble Construction Management Solutions' Vice President and General Manager Lawrence Smith emphasized that it had never been more crucial to integrate technology solutions to enhance the speed, accuracy, and seamlessness of information sharing across the construction supply chain. He stated that the data collaboration between Ferguson and Trimble was delivering increased efficiency, precision, and swiftness in their customers' workflows, encompassing estimating, procurement, purchasing, accounting, and project management.

Read More

Transportation

ACERTUS Unveils New Transportation Management System for Auto Shippers

ACERTUS | November 07, 2023

ACERTUS, a leading automotive logistics-as-a-service platform, has unveiled its new Transportation Management System (TMS). This cutting-edge system grants vehicle shippers unparalleled visibility into their operations, featuring real-time GPS tracking, advanced digital inspection data, automated reporting, and customized data visualization. By harnessing the power of machine learning and seamless connectivity with ACERTUS' digitally-enabled transport network, this platform successfully addresses a long-standing challenge within the vehicle shipping process—namely, the lack of transparency regarding asset location as it traverses the supply chain. Trent Broberg, the Chief Executive Officer at ACERTUS, remarked that modern-day technology has made it extremely easy to track products ordered online during the delivery process. However, there still existed substantial blind spots when it came to shipping cars. In this context, he explained that their new Transportation Management System is driving the industry forward by providing shippers with real-time vehicle visibility, modernizing the process, and eliminating guesswork. The TMS connects shippers with the largest multimodal transport network of carriers and drive-away drivers in North America. It simplifies and streamlines auto shipping, offering instant quotes, single and multi-VIN ordering, standard and expedited shipping rates, and API connectivity for seamless integration with existing operating systems. This release represents ACERTUS' ongoing commitment to delivering advanced, proprietary products that enhance automotive supply chain management. About ACERTUS ACERTUS is a leading omnichannel automotive logistics as a service platform that provides integrated end-to-end solutions for vehicle lifecycle management. By placing a strong emphasis on technology and innovation, ACERTUS offers a comprehensive suite of services, including vehicle storage, transport, maintenance, registration, title, care & maintenance, repossession, freight transport and compliance services, among others. The company consolidates these services under one roof, thereby significantly enhancing efficiency and reliability for its customers throughout the entire vehicle journey.

Read More

Supply Chain

Imperial Dade Advances Growth with Acquisition of Advance Shipping Supplies

Imperial Dade | November 06, 2023

Imperial Dade acquires Advance Shipping Supplies, Inc. as its 75th acquisition. Imperial Dade maintains its 15-year growth strategy, combining organic initiatives and acquisitions. Dave Waite, President of Advance Shipping Supplies, emphasizes the company's legacy and commitment to customer service as it joins Imperial Dade. Imperial Dade, a prominent distributor specializing in food service packaging, printing papers, and janitorial supplies, has recently announced its acquisition of Advance Shipping Supplies, Inc. This transaction marks the 75th acquisition made by Imperial Dade under the leadership of Robert and Jason Tillis, who serve as the Chairman and CEO of the company, respectively. The specific financial details of this private transaction have not been disclosed. Imperial Dade maintains its unwavering commitment to the strategic direction established over 15 years ago. This direction involves sustained growth through a combination of organic initiatives and a carefully managed acquisition process. Advance Shipping Supplies Inc., established in 1985, has a remarkable 38-year track record as a leading distributor of industrial supplies, packaging materials, and janitorial products. Under the guidance of its founder, Dave Waite, Advance continues to be a critical supplier in the Ontario market, delivering essential products to its clientele. The company places a strong emphasis on customer service and is strategically positioned to ensure prompt and accurate deliveries. By leveraging the extensive capabilities of Imperial Dade Canada's top-tier platform, Advance's customers can look forward to receiving the same exceptional customized service, now complemented by an even broader range of products and solutions. Jason Tillis, the CEO of Imperial Dade, expressed his warm welcome to the Advance family. He noted that Advance possessed a dedicated customer base and a strong commitment to delivering an exceptional customer experience, which, in his view, made it a valuable addition to their expanding North American platform. Stephane Lapointe, the President of Imperial Dade Canada, added that partnering with Advance marked another significant stride in their objective of becoming the leading national specialty distributor of industrial, food service, and janitorial products. He also mentioned Imperial Dade's eagerness to build upon its existing success and to continually explore ways to enhance its service to both customers and vendor partners. Dave Waite, the President of Advance Shipping Supplies, Inc., stated that the legacy created by Advance over the past approximately 40 years would serve as a strong foundation for Imperial Dade's future growth. He expressed that, under the guidance of Imperial Dade, they would maintain their commitment to delivering exceptional customer service while also expediting the growth they had witnessed in recent years.

Read More

Events