COVID-19 is probably the world’s most disliked word currently due to the rampant economic disruption it has wreaked on the world. All countries and all businesses around the world have been affected by this pandemic.
The supply chain industry is one industry that has also been affected severely. The industry has seen a massive drop in volumes, congestion both on land and at sea, job losses etc, although ironically this is one of the industries that has and is helping to fight this pandemic through its movement of essential goods like medical supplies, food and PPE.
At the end of March 2020, we set up a short survey sponsored by Ocean Insights to analyse the impact of the pandemic on the industry and its preparedness.
12,000 clicks of that survey and the analysis and a 95% engagement rate told us that in times of strife, people want to come together, understand what is going on and help each other out of this situation.
So, we got together a team of executives to discuss these issues in a webinar moderated by an equally celebrated and astute industry journalist.
The world is in the midst of the COVID-19 pandemic and the global economy has been greatly hit due to this. You may agree that during such time, it’s important more than ever to find ways for saving costs and take all measures possible to safeguard your business.
As a small or midsize business, there is no doubt that you are familiar with the stress of operating on tight margins, and you know how valuable even a small percentage of cost-savings can be to your bottom line.
However, what many small businesses don’t realize, is that their supply chain – particularly when it comes to imports – can be a significant source of cost savings!
Freight forwarders are an integral part of the supply chain and global maritime trade..
A freight forwarder serves as a conduit for global trade between importers, exporters, BCOs (Beneficial Cargo Owners) and the transportation and regulatory entities such as shipping lines, customs, port etc..
The moment a freight forwarder signs/accepts a contract with the customer, they are exposed to several unique risks and liabilities..
This article discusses the risks and liabilities of a freight forwarder..
To the uninitiated (which included me at one stage), these industries are same or similar and it might come across that there is no difference between Maritime, Shipping, Freight, Logistics and Supply Chain ..
But once you are involved in the business or know about these businesses, you will very soon understand that these are very different industries with different workings, assets, architecture, requiring very different sets of qualifications, experience, expertise, knowledge and attitudes..
In this article I unpack the difference between Maritime, Shipping, Freight, Logistics and Supply Chain and how it is all connected..
Benchmarking – is a business tool used by companies to evaluate and compare the current position and standing of the company against similar companies and organisations in the same business space in the market..
The point of benchmarking is to identify opportunities for improvement of your products and services by comparing your company’s performance, processes, costs against a bigger and better market competitor..
This could mean tweaking your company’s products/services to match the competitor’s offering in the market or by improving your scope of services..
Freight benchmarking is a benchmarking tool in the shipping and freight industry used by various role players in the industry such as BCOs, freight forwarders and shipping lines..