How Fleet Management Can Reduce Your Carbon Footprint

Of the nearly 7 billion metric tons of greenhouse gases the U.S. emits every year, 27 percent of those emissions come from the transportation sector. Driving a personal car for private use contributes to this pollution. However, if you manage a fleet of vehicles, the negative environmental impact is even higher…

Spotlight

TOTE Inc.

TOTE owns and oversees a portfolio of independently managed companies specializing in Maritime, Ship Management and Shipholdings. TOTE is comprised of four operating companies: TOTE Maritime Alaska, TOTE Maritime Puerto Rico, TOTE Services, and TOTE Shipholdings.

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Warehousing and Distribution

Enhancing Supply Chain Optimization with Emerging Technologies

Article | July 17, 2023

Leveraging technology and resources within a network is key to supply chain optimization. While supply chains are inherently complex, this complexity can lead to significant technological benefits. Contents 1 Overview and Importance of Emerging Technologies in Optimizing Supply Chain 2 Advantages of Incorporating Emerging Technologies in Enhancing Optimization 2.1 Autonomous Delivery 2.2 Cognitive Automation 2.3 Blockchain-enabled Traceability 2.4 Predictive Maintenance 3 Key Challenges in Adopting Emerging Technologies 3.1 Cost and Budget Constraints 3.2 Skills Gap in Talent 3.3 Privacy and Data Security Concerns 4 Overcoming Challenges 4.1 Adopting Technologies for Managing Budget and Cost 4.2 Developing Talent Pipeline 4.3 Implementing a Zero Trust Security Model 5 Future Outlook Supply chain optimization involves maximizing the utilization of technology and resources within a supply network. Although supply chains are inherently complex, this complexity can yield significant technological advantages, particularly when leveraging the combination of blockchain, artificial intelligence (AI), and Internet of Things (IoT) technologies. 1 Overview and Importance of Emerging Technologies in Optimizing Supply Chain Emerging technologies have transformed the supply chain industry and revolutionized business operations. AI, IoT, blockchain, and robotics are getting prominence with the ability to streamline supply chain processes, reduce costs, increase efficiency, and ultimately boost customer satisfaction. Implementing these technologies can give businesses real-time supply chain visibility, reducing waste and enhancing inventory management. Understanding the potential benefits of these emerging digital supply chain technologies and how they can be implemented within the supply chain is essential for any business that intends to stay in a competitive and rapidly evolving market. 2 Advantages of Incorporating Emerging Technologies in Enhancing Optimization Blending operations with emerging supply chain technologies can significantly improve the speed and accuracy of information flow, minimize manual intervention, and reduce lead times. Additionally, these technologies can provide enhanced visibility into supply chain operations, enable effective risk management, and facilitate proactive decision-making. 2.1 Autonomous Delivery Incorporating autonomous delivery that comes with self-driving vehicles benefits businesses beyond faster delivery times, lowers costs and reduces human error. It offers increased safety, greater flexibility, and improved resource management. It benefits industries like e-commerce and logistics, where quick and efficient delivery is crucial. 2.2 Cognitive Automation Businesses face significant challenges due to unpredictable fluctuations in supply and demand, which can strain their existing technology. To mitigate these risks, executives have increased their investments in risk management. Cognitive automation offers three key benefits in supply chain management: identifying challenges and opportunities, gathering demand signals, and utilizing data for decision-making. Cognitive automation makes balancing supply and demands more efficient and effective, allowing businesses to act faster. 2.3 Blockchain-enabled Traceability Blockchain technology, a distributed ledger system, enables secure, transparent, and traceable record-keeping across a supply chain network. By providing a tamper-proof record of product movement and quality, blockchain technology can enable businesses to verify the authenticity and integrity of their products at each stage of the supply chain. In addition, blockchain technology allows businesses to quickly trace product origins and identify affected batches during recalls. 2.4 Predictive Maintenance Predictive maintenance is a technology that uses machine learning algorithms and Internet of Things sensors to predict impending equipment failures. By analyzing equipment performance data, predictive analytics enables businesses to reduce equipment downtime, lower maintenance costs, and increase reliability. With predictive maintenance, businesses can transition from reactive to proactive maintenance, preventing equipment failures and extending equipment lifecycles. 3 3 Key Challenges in Adopting Emerging Technologies 3.1 Cost and Budget Constraints The executives in the supply chain industry face a significant challenge when adopting emerging supply chain technologies due to the associated costs and budget constraints. While these smart supply chain technologies offer long-term benefits, the upfront investment can deter businesses. Businesses need to consider the total cost of ownership, including implementation, training, ongoing maintenance costs, and the potential return on investment. 3.2 Skills Gap in Talent Incorporating emerging technologies and trends in supply chain operations management is a complex and costly investment that demands a highly skilled workforce to implement and operate such supply chain technologies successfully. A significant skills gap while adopting technology in the supply chain industry poses a challenge for businesses in finding and training competent personnel with technical, analytical, and business skills required to handle emerging technologies. 3.3 Privacy and Data Security Concerns As supply chain operations adopt cutting-edge technologies, companies must address privacy and data security issues. The use of technology requires the collection and dissemination of sensitive data across multiple parties, which raises security and privacy concerns that can be exploited by cybercriminals or unauthorized personnel. Failure to adequately address these issues may result in reputational harm, legal and financial penalties, and a loss of customer confidence. 4 Overcoming the Challenges 4.1 Adopting Technologies for Managing Budget and Cost To overcome the challenge of budget and cost constraints in adopting technology in the supply chain, businesses can leverage innovative tools, such as cost management software and advanced analytics tools, which can provide real-time visibility into cost drivers and enable better decision-making to optimize resource utilization. With the top three technologies in supply chain such as AI, IoT and blockchain, businesses can reduce costs, boost supply chain performance, and maintain market competitiveness. AI predicts demand, maximizes inventory and improves transportation; RPA automates manual tasks, reduces labor costs, and cloud computing provides a flexible and scalable IT infrastructure with reduced upfront investments. 4.2 Developing Talent Pipeline Businesses must invest in building a talent pipeline to ensure a steady supply of skilled employees to narrow the skills gap in the supply chain industry. Collaboration with educational institutions, in-house training programs, and managed service providers from the technology industry can all be part of the answer. The organization's competitiveness and success can be increased by creating a talent pipeline to fill the skills gap between the current workforce and the needs of emerging technologies. Businesses can keep their workforce current and ready to adopt new technologies in supply chain by investing in a talent pipeline. 4.3 Implementing a Zero Trust Security Model As businesses adopt emerging technologies for supply chain operations, privacy, and data security, concerns have become a formidable obstacle. The implementation of a zero-trust security model can aid in addressing this difficulty. Before gaining access to any data or system, all users and devices in this model must be authenticated as potential threats, per this model. This strategy protects data and systems from unauthorized access and enables businesses to comply with regulations such as the GDPR and CCPA. In addition, it can provide supply chain visibility and control over data access in real-time, making it more effortless to detect and respond to security threats. 5 Future Outlook Supply chain leaders view emerging supply chain technology as a competitive advantage and as a means to address digital transformation. In addition, there is a focus on supply chain technologies that improve human decision-making and manage assets at the edge. Organizations should unify their technology portfolio and update legacy systems for greater efficiency. As supply chain complexity increases, we can expect even more advanced technology solutions leveraging big data, machine learning, and robotics to create agile, flexible, and sustainable supply chains.

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Warehousing and Distribution

Complexities in Integrating Supply Chain Analytics from Data to Action

Article | July 11, 2023

Data volume in supply chains is usually enormous. Analytics applied to the supply chain help make sense of the pile of information by identifying patterns and drawing conclusions. Contents 1 Importance of B2B Supply Chain Analytics 2 Obstacles in Supply Chain Analytics Integration 2.1 Barriers in Collecting and Processing Data 2.2 Insufficient Technical Skills 2.3 Issues in Managing and Integrating Data 2.4 Inadequate Analytics and Insights Generation 3 Addressing Supply Chain Analytics Complexities for Better Decision-Making 3.1 Leveraging External Expertise 3.2 Enhancing Collaboration and Communication 3.3 Improving Data Quality and Governance 3.4 Developing Analytics Capabilities 4 Power of Successful Supply Chain Analytics Integration in Transforming Businesses 5 Conclusion 1 Importance of B2B Supply Chain Analytics Supply chain analytics has become a pillar of contemporary business strategy, enabling organizations to leverage data insights and enhance vital supply chain processes. By utilizing real-time data analytics, businesses can streamline their supply chain operations, boost productivity, and increase customer satisfaction. With unparalleled visibility into key performance indicators, B2B supply chain analytics provide the opportunity to identify inefficiencies, reduce costs, and react swiftly to ever-changing market dynamics, streamlining the process for supply chain business analysts who manage supply data. Leveraging the power of supply chain analytics tools is important for the success of modern businesses in the age of data-driven decision making. With the ability to optimize inventory levels, manage lead times, and reduce transportation costs, supply chain data analytics provides a competitive advantage that can increase the efficiency, productivity, and profitability of businesses of all sizes and in all industries. 2 Obstacles in Supply Chain Analytics Integration Supply chain analytics integration has become increasingly critical for companies seeking to optimize their supply chain operations. However, several obstacles hindering successful implementation often complicate the integration process; hence, understanding and knowing them in advance is vital for smooth operations. 2.1 Barriers in Collecting and Processing Data Effective data collection and processing are critical in generating accurate insights to drive supply chain analytics decision-making. However, it comes with challenges; the most critical obstacle is data silos, where data is stored in isolated systems or departments, leading to difficulties in accessing and integrating it. It gets more complex when different departments or partners use varied data formats or standards. Additionally, cleaning and processing data is also challenging, as it involves identifying and eliminating duplicates, inconsistencies, and errors that can negatively impact analytics accuracy. 2.2 Insufficient Technical Skills Successful supply chain analytics integration depends heavily on technical skills and knowledge. Insufficient technical talent and expertise are significant barriers to successful integration. The integration process requires specialized technical expertise and the supply of skilled professionals with expertise in ETL, statistical analysis, knowledge of ML, IoT, SQL, and more in managing supply chain analytics Talent lacking technical skills cannot accurately interpret data, leading to ineffective decision-making. Preliminary data analysis, processing, and visualization due to a lack of technical expertise results in suboptimal decision-making, which can be costly for businesses. 2.3 Issues in Managing and Integrating Data Data integration combines data from various sources and formats to create a unified view. However, businesses face data governance, quality, and standardization issues, resulting in incomplete or inconsistent data. Lack of accurate information reduces the efficiency of supply chain analytics and impacts decision-making. Additionally, data management is complex, and business face difficulties creating effective data management processes, resulting in problems related to storing, retrieving, and updating data. 2.4 Inadequate Analytics and Insights Generation Obtaining valuable insights from enormous data collected during the supply chain process requires advanced analytics tools and technologies. Many businesses, however, continue to rely on traditional reporting methods, which limit the range and complexity of insights generated. The lack of expertise in data analysis and visualization can lead to poor interpretation and use of data, resulting in suboptimal decision-making. In addition, businesses experience difficulty identifying relevant data sources or may struggle to establish the necessary data governance frameworks to ensure data quality and accuracy. 3 Addressing Supply Chain Analytics Complexities for Better Decision-Making Supply chain analytics can provide valuable insights, but the complexities involved in analyzing and interpreting data can be a significant hurdle. Learning the strategies for addressing these complexities to improve decision-making in supply chain management has become essential. 3.1 Leveraging External Expertise Leveraging external expertise can be a powerful strategy for addressing supply chain analytics complexities related to collecting and processing supply chain data during integration. External experts bring specialized skills, experience, and knowledge that may not be available in-house, enabling organizations to overcome talent shortages and expand their capabilities. Furthermore, consultants, data scientists, or technology providers provide an objective viewpoint on the organization's data and processes, identifying areas for improvement and optimizing performance. By collaborating with external experts, organizations can access the latest tools, technologies, and best practices, ensuring that their supply chain analytics are up-to-date and relevant. 3.2 Enhancing Collaboration and Communication Enhancing collaboration and communication can effectively address the challenge of insufficient technical skills in thriving supply chain analytics integration. By promoting cooperation and cross-functional communication, organizations can leverage the skills and expertise of team members from various departments to fill gaps in technical knowledge. This approach can also help to break down data silos and improve data sharing and integration. In addition, collaboration and communication can facilitate knowledge transfer, enabling team members to learn from one another and develop a more comprehensive understanding of the supply chain analytics process. Ultimately, this can lead to improved decision-making, as a more skilled and knowledgeable team can generate more accurate and insightful analytics. 3.3 Improving Data Quality and Governance Businesses ensure accuracy, completion, and up-to-date data by establishing standardized processes and protocols for collecting, storing, and analyzing data. Data quality checks, including data cleansing and normalization, can help eliminate errors, redundancies, and inconsistencies that can negatively impact the accuracy and usefulness of analytics. In addition, effective data governance, including establishing data ownership, security, and privacy policies, helps ensure that data is managed and shared appropriately across the organization. As a result, it reduces the risk of data breaches, compliance violations, and other data-related issues, ensuring that organizations have access to reliable data for better decision-making. 3.4 Developing Analytics Capabilities Developing capabilities significantly help organizations overcome inadequate analytics and insights generation challenges in analytics integration. Investing in advanced analytics tools and platforms like technical skills, data infrastructure, and advanced supply chain analytics techniques help businesses generate real-time, accurate, and actionable insights from collected data. Developing analytics capabilities requires creating a culture that values data and analytics, establishing robust data governance frameworks, upskilling the workforce and creating cross-functional teams collaborating on data-related projects. In addition, it helps businesses gain a competitive advantage. 4 Power of Successful Supply Chain Analytics Integration in Transforming Businesses Effective supply chain analytics integration is revolutionizing business operations. Real-time and supply chain predictive analytics have helped businesses gain unmatched transparency in their supply chains, enhance critical processes, improve operational efficiency and customer satisfaction, and experience revenue growth and profitability. The ability to identify inefficiencies and supply chain optimization opportunities enables businesses to effectively allocate resources and reduce expenses. In addition, successful supply chain analytics integration enables businesses to respond quickly to changing market dynamics, optimize inventory management, and strengthen the resilience of their supply chains. Businesses are leveraging the power of big data analytics to disrupt and transform supply chain at all levels. The concept of data, which was once a fundamental component of digital supply chain transformation, is now revolutionary. Therefore, it is essential to achieve advancements in supply chain analytics integration and management. 5 Conclusion With technological and data analytics advancements, businesses can utilize real-time data insights to make data-driven decisions, optimize supply chain processes, and improve customer experiences. Integration of supply chain analytics is crucial for supply chain businesses of all sizes. Utilizing supply chain analytics software can further streamline integration as well as enhance data analytics and supply chain management.

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Warehousing and Distribution

Reducing Risk in Your Global Supply Chain

Article | June 27, 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.

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Emerging Trends in Supply Chain Management

Article | May 31, 2021

Supply chain is the backbone of any business. Since there is a supply chain in existence, you can buy whatever product you want. The supply chain is evolving since the Industrial Revolution, and it is still changing, and the evolution journey is fascinating. Before moving forward with the article, first, let's understand supply chain and supply chain management. What is a Supply Chain? A supply chain is an entire process of producing and selling commercial goods, beginning with the procurement of raw materials and ending with the distribution and sale of the goods. The supply chain ensures that a product is available in the right place, at the right time, and the lowest possible cost while ensuring the product quality. The supply chain aims to provide the maximum value to the customer at the minimum likely costs. The supply chain is the single most significant expense for businesses, and it provides them with a tremendous opportunity to improve and increase savings and profit margins. The price of most products is competitive in the market, but the supply chain determines the product's profit margin. The demand for products and services fluctuates for various reasons, and meeting this fluctuating demand with a higher degree of quality requires knowledge of supply chain management. Effective supply chain management is essential for any business to compete in the market. What is Supply Chain Management? Supply chain management is an essential factor in a business's long-term success. The management of how goods and services evolve from raw materials to products sold to consumers is known as supply chain management. It includes the processes of transporting and storing raw materials, storing finished goods until they sell, and tracking where sold goods go so that you can use the data to boost future sales. Supply Chain Management includes all aspects of business activities, including logistics, purchasing, and information technology. Materials, finances, suppliers, manufacturing plants, wholesalers, retailers, and consumers are all combined into a single system. A business with a well-managed supply chain can significantly reduce all operating costs associated with that chain, resulting in higher profits. The main goal of effective supply chain management is to increase profitability by improving customer satisfaction and reducing business costs. Profits improve as expenses are in control and reduced when possible. When the costs of purchasing raw materials and manufacturing goods drop, the operating costs also decrease. Challenges in Supply Chain Management There are many challenges related to supply chain management. In this section, we will focus on some of the most significant supply chain management challenges. • Visibility: It is a significant issue in supply chain management. Businesses are unable to track all international cargo. The majority of data on the ocean or air shipments is often unavailable. Between 2008 and 2016, an average of 600 containers lost at sea (it does not include catastrophic incidents). These figures are concerning because the amount of cargo shipped over time is rapidly rising. • Uncertainty: Uncertainty has been difficult in supply chain management. Demand planning is essential because many businesses have massive amounts of leftovers. If it is perishable, it is thrown away. There is a lot of waste, and it's all because of bad planning. In addition, initial raw materials may be unreliable, or lead time may be unpredictable. It isn't easy to be confident of any part of the supply chain, mainly because it is an extensive system. • Customer Service: Supply chain management is all about getting the right product to the correct location at the right time. It seems easy at first, but it can quickly become complicated. • Cost Management: Increasing energy/fuel and freight costs, a more significant number of global customers, technology, rising labor wages, new regulations, and rising commodity prices all strain operating costs. • Planning and Risk Management: Annual reviews and redesigns are needed to be efficient and effective. These changes are in reaction to market changes, such as new product releases, global sourcing, credit availability, and the need to protect intellectual property. To monitor and minimize these threats, they must be identified and quantified. • Supplier/Partner Relationship Management: It is crucial to create, understand, and follow mutually agreed standards to understand current performance and areas for improvement better. Using two separate approaches to measure and communicate performance results is a waste of time and resources. Trusting the system that was in place to ensure consistency and better supplier/partner relationships is necessary. Emerging Trends in Supply Chain The supply chain process is continuously evolving. The emerging supply chain and logistics trends prioritize intelligent, tech-driven management to minimize operational costs and enhance efficiency. The logistics and supply chain aspect is vital for any business in supplying high-quality raw materials, ensuring an efficient manufacturing process, and tracking, shipping, and storing finished goods. Companies that implement well-designed supply chain practices can satisfy customer needs more quickly and efficiently. This improves customer relationships and loyalty, resulting in increased revenue and the acquisition of new customers through positive word of mouth. Let's look at some significant emerging trends that are expected to shape and develop supply chain operations in the future. Digitization of Supply Chains Digitization is the process of reinventing logistics operations by combining the latest technology with other physical and digital assets. Digitization allows us to better adapt to the fast-paced, highly competitive, omnichannel business environment. Digitization increases the speed, dynamics, and resiliency of supply chain operations, resulting in improved customer responsiveness and, ultimately, increased revenue. Companies that embrace digitalization can gain genuine value, improved revenue, and market valuation. Companies should significantly redesign their supply chain strategy to gain the full benefits of digitization. It is not enough to decorate it with digital technology. The Internet of Things (IoT) occupies a significant position in digitalization as a highly transformational technology solution in the logistics sphere. The Internet of Things (IoT) is a network of interconnected computing devices that allows data to be sent over networks without human input. It assists businesses in monitoring inventory, managing warehouse stock, optimizing fleet routes, and reducing dead miles. Artificial Intelligence Advanced Artificial Intelligence solutions have several uses in the supply chain, particularly in the warehousing area. The procurement process involves using gesture recognition solutions instead of keyboard and mouse. It also includes self-driving vehicles, which are designed to navigate without human assistance. In the supply chain, the concept of robotics and automation is widely implemented. The new generation of robots is easier to program, more flexible, and more affordable. Their job is to help employees with repetitive and physically challenging tasks. Enhanced Supply Chain Visibility Proper supply chain data analysis can significantly boost business forecasting and decision-making. It can also optimize the use of inventory management, storage, and transportation resources. Supply chain visibility provides information on what is happening at each stage of the supply chain. It is crucial for the overall efficiency of the supply chain process, which includes sourcing, manufacturing, transportation, and delivery. Real-time inventory management is one of the advantages of enhanced chain visibility. It uses mobile point-of-sale systems and sensors, and it elevates inventory management to a whole new level. For example, instead of paying for purchased goods at a store, customers can take the desired products and have the products immediately charged to their credit and debit cards. Furthermore, real-time inventory management allows for the replacement of goods as they are consumed. Circular Supply Chain The term "linear supply chain" refers to the traditional concept where goods travel in a straight line (from raw material to finished product). Modern logistics techniques are focused on the circular supply chain idea, which involves reusing previously, used products as raw materials. Reusing products and materials is referred to as reverse logistics, and it is a novel and innovative technique. It assists businesses in reducing administrative and transportation expenses, increasing sustainability, improving customer service and loyalty, creating value, and conserving resources. Used products can be kept in circulation if businesses work together with their suppliers and customers. More focus on Risk Management and Supply Chain Resiliency Without a doubt, companies must seriously consider supply chain risk management as a means to prepare for unfavorable circumstances. The increasing use of outsourcing, offshoring, product versatility, supply chain security, and significant interdependence across the supply chain highlights the need to deal with risks in the supply chain. However, no matter how solid the plan is, it cannot prevent errors from happening. Here's where supply chain resilience comes into play. It is an accurate indicator of a company's ability to survive disruptive circumstances. Visibility throughout the supply chain is necessary to detect disruptions, close collaboration with suppliers and distributors so that alternative supply routes can be found, and a good incident response plan to provide a course of action when disruption occurs are all steps that are important to make the supply chain more flexible and resilient. Use of SaaS in the Supply Chain The software-as-a-service (SaaS) Sapproach is growing in popularity in supply chain technology and logistics management and the growth of cloud computing. This is primarily due to SaaS's security and safety and the convenience of paying for precisely the services you require. Companies can avoid the high fixed costs of system maintenance, upgrades, and infrastructure-related expenditures by using SaaS. Supply chains are continuously evolving technology, and the diversity of employee skill sets is playing an essential role in this evolution. Organizations are becoming more conscious of changes in their market competition and continuously updating or even reinventing their market offering to maintain and develop their market positioning. Many companies are already turning to technology to improve their supply chain operations; however, before new systems are implemented and employees are upskilled to adapt to new ways of working, existing processes must be reviewed to eliminate waste activities from the supply chain, and data must be cleansed. To meet consumer demands, supply chains must be constantly checked for efficiency improvements and aligned with corporate strategy. At present, many organizations are reviewing the length of their supply chains, intending to minimize the overall size and bring supply chains closer to the organization or the end consumer, reduce risk exposure, eliminate waste, and align with corporate strategy. FAQ’s • What are the three foundations of supply chain? The three foundations of a supply chain are strategy, service, and cost. Aligning the strategy, service and cost is essential to support your company’s overall business growth and objectives. A good strategy along with good service and reduced costs helps in increasing profitability and customer satisfaction. • What are the pillars of supply chain? Plan, Source, Make, Deliver and Return are the pillars of supply chain. Planning involves strategies and methods to be planned, Sourcing means procuring raw materials and other services, Making means manufacturing, Deliver means ensuring that the products reach the customers on time and Return means post delivery customer support that is associated with all kinds of returned products. • Why supply chain management is important? The management of how goods and services evolve from raw materials to products sold to consumers is known as supply chain management. It includes the processes of transporting and storing raw materials, storing finished goods until they sell, and tracking where sold goods go so that you can use the data to boost future sales. A business with a well-managed supply chain can significantly reduce all operating costs associated with that chain, resulting in higher profits. The main goal of effective supply chain management is to increase profitability by improving customer satisfaction and reducing business costs. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the three foundations of supply chain?", "acceptedAnswer": { "@type": "Answer", "text": "The three foundations of a supply chain are strategy, service, and cost. Aligning the strategy, service and cost is essential to support your company’s overall business growth and objectives. A good strategy along with good service and reduced costs helps in increasing profitability and customer satisfaction." } },{ "@type": "Question", "name": "What are the pillars of supply chain?", "acceptedAnswer": { "@type": "Answer", "text": "Plan, Source, Make, Deliver and Return are the pillars of supply chain. Planning involves strategies and methods to be planned, Sourcing means procuring raw materials and other services, Making means manufacturing, Deliver means ensuring that the products reach the customers on time and Return means post delivery customer support that is associated with all kinds of returned products." } },{ "@type": "Question", "name": "Why supply chain management is important?", "acceptedAnswer": { "@type": "Answer", "text": "The management of how goods and services evolve from raw materials to products sold to consumers is known as supply chain management. It includes the processes of transporting and storing raw materials, storing finished goods until they sell, and tracking where sold goods go so that you can use the data to boost future sales. A business with a well-managed supply chain can significantly reduce all operating costs associated with that chain, resulting in higher profits. The main goal of effective supply chain management is to increase profitability by improving customer satisfaction and reducing business costs." } }] }

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Spotlight

TOTE Inc.

TOTE owns and oversees a portfolio of independently managed companies specializing in Maritime, Ship Management and Shipholdings. TOTE is comprised of four operating companies: TOTE Maritime Alaska, TOTE Maritime Puerto Rico, TOTE Services, and TOTE Shipholdings.

Related News

Software and Technology, Sustainability, Supply Chain

GoBolt & Instock Team Up To Power Warehouse Efficiency & Drive Toward Self-Service Automation

PR Newswire | January 09, 2024

GoBolt, a technology company building the world's largest sustainable supply chain network, today announces it has partnered with Instock on a technology-driven warehouse initiative. GoBolt is already at the forefront of innovation in the logistics industry with its sustainable fleet and proprietary technology and now, by working with Instock, the company continues to blaze a trail in terms of advancing and simplifying logistics. Instock and GoBolt, united by their shared commitment to technology-driven efficiency and innovation, are partnering to integrate Instock's Automated Storage and Retrieval Solution (ASRS) into GoBolt's fulfillment centers. This collaboration, launching in January 2024, will enhance logistics operations by automating routine tasks, allowing warehouse associates to focus on more complex responsibilities. "GoBolt is committed to driving innovation in the traditional logistics sector through the development and adoption of groundbreaking technology. That's why our team is thrilled to partner with Instock on this exciting automation project," said Mark Ang, Co-founder and Chief Executive Officer of GoBolt. "In addition to advancing automation and improving efficiency for our brand partners, Instock allows our employees to dedicate their efforts to increasingly complex tasks. This is not only a win for warehouse productivity and safety, but also for employee satisfaction." Founded in 2020, Instock is a team grounded in deep experience in both engineering and operating technology for retailers in the U.S. and abroad. Their desire for more flexible and agile automation led them to embark on a mission to radically improve goods-to-person robotics with a simplified, soup to nuts rebuild. The result is their Robotics-as-a-Service (RaaS) offering, which delivers high-density goods-to-person automation with a flexible range of throughput rates. "We're inspired by what GoBolt is achieving for brands and retailers," said Yegor Anchyshkin, Instock's Co-founder and Chief Executive Officer. "Just as impressively, the company is eager to explore and embrace new technologies, like automation, instead of waiting in the wings. When it comes to partnerships, ours with GoBolt is as natural and synergistic as it gets." Through this partnership, the two dynamic companies will redefine storage density and volume throughput boundaries within defined footprints, and lay the groundwork toward self-service in warehouse automation.

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Transportation

Descartes' Route Optimization Solution Enhances Topps Tiles' Fleet Delivery

Descartes | January 24, 2023

On January 23, 2023, Descartes Systems Group, which provides solutions for logistics-intensive businesses, announced that Topps Tiles, a UK-based tile retailer, is using Descartes' cloud-based route optimization and planning solution to boost fleet delivery capabilities. Topps Tiles is reducing the average kilometers driven per delivery route by 2% through its collaboration with Descartes. The solution also helps Topps Tiles identify the potential impact of delivery strategy changes. Descartes' route planning and optimization solution is an aspect of its Routing, Mobile, and Telematics suite. It assists in lowering costs with more efficient and agile routing, enhancing fleet resource management by generating increased delivery capacity, and growing sustainability by reducing their CO2 footprint and paper use across the route network. Companies can use strategic route modeling to understand and refine their customer service and delivery strategies before implementing them. Descartes' mobile application aids drivers in completing their daily routes, keeps managers informed of progress, and provides an accurate estimated time of arrival (ETA) to alert customers of their deliveries. In addition, real-time mobile communication allows proof of delivery (POD) functionality support that facilitates excellent customer service and order accuracy. Pól Sweeney, VP of Fleet Sales in Europe at Descartes, said, "Topps Tiles' long-term success is based upon its ability to continually provide customers with a superior shopping experience while offering cost competitive pricing." He added, "We're delighted to help Topps Tiles minimize its operational costs today through our route planning and optimisation solution and in the future with our strategic route modelling capabilities." (Source – GlobeNewswire) About Descartes Systems Group Based in Waterloo (Ontario), Descartes offers software-as-a-service solutions that improve the productivity, security, and performance of logistics-intensive businesses. Customers work with one of the world's largest, collaborative multimodal logistics community to carry out various tasks, including routing, scheduling, tracking, and measuring delivery resources; planning, allocating, and executing shipments; rating, auditing, and paying transportation invoices; and completing many other logistics processes. As a result, the company helps safely and securely get assets, information, inventory, and people where and when needed.

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Software and Technology

Gatik and Cummins Integrate Gatik’s Autonomous Driving Technology with Cummins’ Advanced Powertrain in Next-Generation Autonomous Fleet

Gatik and Cummins | August 25, 2022

Gatik announced that it will collaborate with Cummins Inc. to facilitate the integration of Gatik's autonomous driving system with Cummins’ advanced powertrain solution in Gatik’s fleet of medium-duty trucks. Cummins delivers powertrain solutions that provide leading performance and fuel economy through the integration of hardware and software. Gatik is the market leader in autonomous middle mile logistics, and in 2021 launched the world’s first fully driverless commercial delivery service with Walmart.Under the collaboration, Cummins will utilize its suite of advanced software features to integrate its powertrain solution to enable Drive-by-wire (DbW) for Gatik’s industry-first medium-duty (class 6) Isuzu FTR fleet with the Cummins B6.7 engine. The integration of Gatik’s commercial-grade autonomous technology with Cummins’ powertrain increases functional safety and enhances reliability of the autonomous system, while improving fuel efficiency and offering superior vehicle performance on Gatik’s short-haul, B2B delivery routes. Cummins will work closely with Gatik’s engineering team to provide additional technical expertise. As we commercialize our product offerings at scale across North America, ensuring that we integrate our technology with the world’s leading Tier 1 companies is critical to meeting intensifying demand for our solution safely and quickly,” said Arjun Narang, CTO and co-founder, Gatik. “Cummins’ technological leadership in developing the world’s leading powertrains for over 100 years, and deep commitment to developing customer-centric solutions for the future of logistics mean the tangible benefits of our work together will be felt immediately across our customer base. “Cummins is excited to integrate its powertrain solution with Gatik’s automated driving system,Cummins powers nearly every type of application globally, so integrating our powertrain with automated driving systems like Gatik’s will allow our customers to choose the newest technologies to meet their needs.” -Michael Taylor, General Manager Global Powertrain Integration, Cummins Inc. This announcement comes on the heels of rapid commercial and technical progress at Gatik. Gatik has one of the largest commercially deployed autonomous fleets in North America, operating for Fortune 500 customers across multiple markets including Texas, Arkansas, Louisiana and Ontario, Canada. In the past 12 months, Gatik announced its industry-first partnership with Isuzu to implement OEM-grade redundancies for medium-duty trucks, collaboration with Goodyear to equip its fleet with tire intelligence technology to improve stopping distances and monitor tire pressure in real time for enhanced safety, and a strategic partnership with Ryder to leverage Ryder’s national leasing, servicing and fleet maintenance expertise. Gatik’s collaboration with Cummins represents a key component of Gatik’s platform-agnostic commercialization strategy, enabling Gatik to seamlessly integrate its autonomous driving system with multiple OEMs, and across a range of vehicle platforms powered by Cummins, further refining a safe, unique, and efficient autonomous solution for the commercial middle mile market. About Gatik Gatik, the leader in autonomous middle mile logistics, delivers goods safely and efficiently using its fleet of light and medium duty trucks. The company focuses on short-haul, B2B logistics for Fortune 500 retailers such as Walmart, Loblaw, KBX and Georgia-Pacific, and in 2021 became the first company worldwide to operate fully driverless commercial deliveries on the middle mile. Gatik’s Class 3-6 autonomous box trucks are commercially deployed in multiple markets including Ontario, Texas, Arkansas, and Louisiana. Gatik is backed by Koch Disruptive Technologies, Wittington Ventures, Innovation Endeavors and others, and partners with industry leaders including Ryder, Goodyear, Isuzu and Cummins. Founded in 2017 by veterans of the autonomous technology industry, the company has offices in Toronto, Ontario and Mountain View, California. In 2022, Gatik was named to Forbes’ list of America’s Best Startup Employers and by Fast Company as a World Changing Idea. In 2021, Gatik was recognized on the Forbes AI 50 list and as a World Economic Forum Technology Pioneer.

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Software and Technology, Sustainability, Supply Chain

GoBolt & Instock Team Up To Power Warehouse Efficiency & Drive Toward Self-Service Automation

PR Newswire | January 09, 2024

GoBolt, a technology company building the world's largest sustainable supply chain network, today announces it has partnered with Instock on a technology-driven warehouse initiative. GoBolt is already at the forefront of innovation in the logistics industry with its sustainable fleet and proprietary technology and now, by working with Instock, the company continues to blaze a trail in terms of advancing and simplifying logistics. Instock and GoBolt, united by their shared commitment to technology-driven efficiency and innovation, are partnering to integrate Instock's Automated Storage and Retrieval Solution (ASRS) into GoBolt's fulfillment centers. This collaboration, launching in January 2024, will enhance logistics operations by automating routine tasks, allowing warehouse associates to focus on more complex responsibilities. "GoBolt is committed to driving innovation in the traditional logistics sector through the development and adoption of groundbreaking technology. That's why our team is thrilled to partner with Instock on this exciting automation project," said Mark Ang, Co-founder and Chief Executive Officer of GoBolt. "In addition to advancing automation and improving efficiency for our brand partners, Instock allows our employees to dedicate their efforts to increasingly complex tasks. This is not only a win for warehouse productivity and safety, but also for employee satisfaction." Founded in 2020, Instock is a team grounded in deep experience in both engineering and operating technology for retailers in the U.S. and abroad. Their desire for more flexible and agile automation led them to embark on a mission to radically improve goods-to-person robotics with a simplified, soup to nuts rebuild. The result is their Robotics-as-a-Service (RaaS) offering, which delivers high-density goods-to-person automation with a flexible range of throughput rates. "We're inspired by what GoBolt is achieving for brands and retailers," said Yegor Anchyshkin, Instock's Co-founder and Chief Executive Officer. "Just as impressively, the company is eager to explore and embrace new technologies, like automation, instead of waiting in the wings. When it comes to partnerships, ours with GoBolt is as natural and synergistic as it gets." Through this partnership, the two dynamic companies will redefine storage density and volume throughput boundaries within defined footprints, and lay the groundwork toward self-service in warehouse automation.

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Transportation

Descartes' Route Optimization Solution Enhances Topps Tiles' Fleet Delivery

Descartes | January 24, 2023

On January 23, 2023, Descartes Systems Group, which provides solutions for logistics-intensive businesses, announced that Topps Tiles, a UK-based tile retailer, is using Descartes' cloud-based route optimization and planning solution to boost fleet delivery capabilities. Topps Tiles is reducing the average kilometers driven per delivery route by 2% through its collaboration with Descartes. The solution also helps Topps Tiles identify the potential impact of delivery strategy changes. Descartes' route planning and optimization solution is an aspect of its Routing, Mobile, and Telematics suite. It assists in lowering costs with more efficient and agile routing, enhancing fleet resource management by generating increased delivery capacity, and growing sustainability by reducing their CO2 footprint and paper use across the route network. Companies can use strategic route modeling to understand and refine their customer service and delivery strategies before implementing them. Descartes' mobile application aids drivers in completing their daily routes, keeps managers informed of progress, and provides an accurate estimated time of arrival (ETA) to alert customers of their deliveries. In addition, real-time mobile communication allows proof of delivery (POD) functionality support that facilitates excellent customer service and order accuracy. Pól Sweeney, VP of Fleet Sales in Europe at Descartes, said, "Topps Tiles' long-term success is based upon its ability to continually provide customers with a superior shopping experience while offering cost competitive pricing." He added, "We're delighted to help Topps Tiles minimize its operational costs today through our route planning and optimisation solution and in the future with our strategic route modelling capabilities." (Source – GlobeNewswire) About Descartes Systems Group Based in Waterloo (Ontario), Descartes offers software-as-a-service solutions that improve the productivity, security, and performance of logistics-intensive businesses. Customers work with one of the world's largest, collaborative multimodal logistics community to carry out various tasks, including routing, scheduling, tracking, and measuring delivery resources; planning, allocating, and executing shipments; rating, auditing, and paying transportation invoices; and completing many other logistics processes. As a result, the company helps safely and securely get assets, information, inventory, and people where and when needed.

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Software and Technology

Gatik and Cummins Integrate Gatik’s Autonomous Driving Technology with Cummins’ Advanced Powertrain in Next-Generation Autonomous Fleet

Gatik and Cummins | August 25, 2022

Gatik announced that it will collaborate with Cummins Inc. to facilitate the integration of Gatik's autonomous driving system with Cummins’ advanced powertrain solution in Gatik’s fleet of medium-duty trucks. Cummins delivers powertrain solutions that provide leading performance and fuel economy through the integration of hardware and software. Gatik is the market leader in autonomous middle mile logistics, and in 2021 launched the world’s first fully driverless commercial delivery service with Walmart.Under the collaboration, Cummins will utilize its suite of advanced software features to integrate its powertrain solution to enable Drive-by-wire (DbW) for Gatik’s industry-first medium-duty (class 6) Isuzu FTR fleet with the Cummins B6.7 engine. The integration of Gatik’s commercial-grade autonomous technology with Cummins’ powertrain increases functional safety and enhances reliability of the autonomous system, while improving fuel efficiency and offering superior vehicle performance on Gatik’s short-haul, B2B delivery routes. Cummins will work closely with Gatik’s engineering team to provide additional technical expertise. As we commercialize our product offerings at scale across North America, ensuring that we integrate our technology with the world’s leading Tier 1 companies is critical to meeting intensifying demand for our solution safely and quickly,” said Arjun Narang, CTO and co-founder, Gatik. “Cummins’ technological leadership in developing the world’s leading powertrains for over 100 years, and deep commitment to developing customer-centric solutions for the future of logistics mean the tangible benefits of our work together will be felt immediately across our customer base. “Cummins is excited to integrate its powertrain solution with Gatik’s automated driving system,Cummins powers nearly every type of application globally, so integrating our powertrain with automated driving systems like Gatik’s will allow our customers to choose the newest technologies to meet their needs.” -Michael Taylor, General Manager Global Powertrain Integration, Cummins Inc. This announcement comes on the heels of rapid commercial and technical progress at Gatik. Gatik has one of the largest commercially deployed autonomous fleets in North America, operating for Fortune 500 customers across multiple markets including Texas, Arkansas, Louisiana and Ontario, Canada. In the past 12 months, Gatik announced its industry-first partnership with Isuzu to implement OEM-grade redundancies for medium-duty trucks, collaboration with Goodyear to equip its fleet with tire intelligence technology to improve stopping distances and monitor tire pressure in real time for enhanced safety, and a strategic partnership with Ryder to leverage Ryder’s national leasing, servicing and fleet maintenance expertise. Gatik’s collaboration with Cummins represents a key component of Gatik’s platform-agnostic commercialization strategy, enabling Gatik to seamlessly integrate its autonomous driving system with multiple OEMs, and across a range of vehicle platforms powered by Cummins, further refining a safe, unique, and efficient autonomous solution for the commercial middle mile market. About Gatik Gatik, the leader in autonomous middle mile logistics, delivers goods safely and efficiently using its fleet of light and medium duty trucks. The company focuses on short-haul, B2B logistics for Fortune 500 retailers such as Walmart, Loblaw, KBX and Georgia-Pacific, and in 2021 became the first company worldwide to operate fully driverless commercial deliveries on the middle mile. Gatik’s Class 3-6 autonomous box trucks are commercially deployed in multiple markets including Ontario, Texas, Arkansas, and Louisiana. Gatik is backed by Koch Disruptive Technologies, Wittington Ventures, Innovation Endeavors and others, and partners with industry leaders including Ryder, Goodyear, Isuzu and Cummins. Founded in 2017 by veterans of the autonomous technology industry, the company has offices in Toronto, Ontario and Mountain View, California. In 2022, Gatik was named to Forbes’ list of America’s Best Startup Employers and by Fast Company as a World Changing Idea. In 2021, Gatik was recognized on the Forbes AI 50 list and as a World Economic Forum Technology Pioneer.

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