How a pain point in Egypt spurred the timber industry towards efficiency and cooperation

Opinion Piece

A dramatic increase in the prevalence of supply chain pain points has presented an opportunity for innovation and collaboration, whilst underscoring the importance of digital solutions in the timber logistics sector.

Timber companies used the term “pain point” to refer to an inefficient port or a particularly cumbersome customs authority.

These pain points stood out because they were isolated pockets of inefficiency, delaying an otherwise well-functioning network that carried everything from raw materials to finished goods from one corner of the world to the other.

Over the last year, that has all changed. Pain points became endemic.

Go to full article >>>

Product Review : Centersource Platform

pr

Timber is one of the most common and popular forestry products shipped around the world, in various forms, using general-purpose ships, specialised log carriers, and also in containers..

The global export value of just Sawn Timber Softwoods (one of many different types of timber and forest products) is reported to be around $22 billion out of a total forest product export value of around $270 billion..

Due to the nature of the commodity, timber is usually moved in large quantities across various trade lanes and there are several processes to be followed for the shipment..

Right from order placements, creating the required documentation, transferring the same, booking the cargo with the lines, monitoring the movement of the same and ensuring the supply timelines are met, there are many intricate processes involved..

Many of these processes are still done manually, which results in inefficiencies in the business..

As per industry research, people spend a lot of their daily time on below points

  • 40% of their time trying to calculate CIF prices for the product
  • 25% sending offers
  • 65% drafting documents
  • 40% sharing information and trying to stay up to date
  • 20% tracking and tracing their shipments
  • 80% of those interviewed said they use Excel or Shared Folders to organise their shipment deals and files
  • 100% said they communicate using phones and email
  • 100% rely on free-tools (not always the most reliable) to track shipments
  • 64% of the respondents said sharing or collecting market updates is their largest problem

What if there is a platform that says you can do all of the above seamlessly and more efficiently..

As per Centersource, their Timber Exchange platform can do all of the above and even save you money while doing it.. Here is my review of their platform..

Go to full article >>>

Product Review : Ocean Insights’ ocean freight visibility platform

Product Review by Shipping and Freight Resource

Global sea trade has been trading blind for centuries because once the ship left the port of load with the goods, there was very little visibility on the whereabouts of the ship or the condition of the cargo till it arrived at the destination..

Historically, the shipping and freight industry has been slow to adopt new technologies and standards, unlike its airborne cousin which is highly standardized and regulated internationally..

The advent of containerisation and intermodalism, made ascertaining the whereabouts of a container all the more difficult because containers move to remote locations with relative ease using a combination of rail and road options..

With the exponential increase in the movement of container volumes around the world, it would be impossible to meet all the requirements of the customer using manual processes..

There has been a noticeable acceleration in the digitalisation of the industry in the last decade and this digital evolution is set to shape the future of the industry..

As much as the industry needs to embrace the digital evolution and the competitive advantage it can provide, there are several challenges as well.. It is more than just about getting together the required hardware and software and converting a paper based model to a systems based model..

It requires innovation.. Innovation is not a product but rather a culture that needs the right people following the right methodology using the right tools with the right thinking..

One company that presents innovation as being at the heart of its service offering is Ocean Insights – Innovators in Container Tracking..

Here is my review of Ocean Insights’ container freight visibility platform and what the industry can expect from this platform..

Go to full article >>>

Product Review : Haven Inc’s TMS for global shippers

pr

In any sea freight transaction which covers the above processes, there are challenges that BCOs and/or Freight Forwarders face in terms of managing Rates, Bookings, Documents and Visibility..

As per market studies, 25-30% of all freight invoices issued are erroneous and that businesses have been overpaying service providers for years due to incorrect invoices.. In a $350 billion ocean freight market, this accrued revenue loss can be quite significant..

Now Haven Inc, a solutions-focused TMS provider is aiming to simplify the processes for the customers through their easy to use and intuitive app-based TMS platform specifically aimed at international shippers..

The platform is said to have proven successes with some of the largest companies in shipping including Top 5 CPG, and Top 5 US Exporter using it..

Here is my review of Haven Inc’s TMS platform..

Go to full article >>>

Product Review : CargoX Platform – secure, trusted, instant transfer for trade documents

Product Review by Shipping and Freight Resource

The world of shipping involves several commercial, documentary, operational and financial processes..

While there have been many developments in the industry, a lot of the documentary processes in shipping and freight has stayed much the same for many decades..

Delays in document transmissions which could take anywhere between 5-10 days with the added risk of loss or delay of documents have severe consequences such as demurrage, detention and/or port storage, possible loss or cargo damage due to non-clearance and abandoned cargo..

CarogX Platform, a neutral, public blockchain-based platform is offering to provide a solution which will help to digitalize the trade documentation process using BDT (Blockchain Document Transfer) and reduce document transmission time to 20 seconds..!!

I took the platform for a test drive to see how it works and if it can assist the industry in saving costs and making the process of document transfer simpler, easier, economical and more importantly, secure and safer..

Go to full article >>>

Product Review : CargoX’s Blockchain based Smart Bill of Lading

CargoX Smart Bill of Lading - Shipping and Freight Resource

Blockchain based Smart Bill of Lading by CargoX

Smart Computers, Smart Phones, Smart Cars and now Smart Bill of lading..!!!!

Shipping documentation in its current form has been around for many decades and has been working quite well..

There are several factors that are involved in the preparation, checking, transmission, hand over, payment and many of the intrinsic activities involved in the process of a bill of lading..

When I first heard of the Blockchain based Smart Bill of Lading by CargoX, I was a bit unsure as to how this new technology will replace all of the above as there are several such products trying to break into the shipping and freight industry in the name of innovation, digitisation, IoT, SaaS etc..

So, when CargoX asked me to have a look at how this blockchain based bill of lading system and process actually works, I proceeded to have a look with a tad bit of skepticism..

But before I share the details of my review, experience, impression and opinion, let’s take a quick look at what is a bill of lading, what is a blockchain and how these work together and fit in the process of a shipment..

Go to full article >>>

Share