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Economic Indicators Give Reason For Optimism

Posted by Land Link Traffic Systems on May 6, 2021 7:15:06 AM

The U.S. economy is improving after the destruction caused by the COVID-19 pandemic. This cautiously positive outlook is based on experts' reviews of the key economic indicators, including gross domestic product (GDP), unemployment, and inflation. Analysts also have taken a hard look at interest rates, oil and gas prices, jobs, and the impact of climate change.

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Topics: Third Party Logistics, Freight Bill Auditing, Logistics News

Emerging Warehouse Technologies To Improve Efficiency

Posted by Land Link Traffic Systems on Apr 29, 2021 7:48:07 PM

Warehouse technologies can directly impact one of the most critical strategic goals and differentiators for logistics organizations; warehouse efficiency. If warehouse operations run inefficiently , the business is forced to increase its workforce and overhead to maintain high service levels. 

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Topics: Freight Bill Auditing, Intermodal Freight, Transportation News, Logistics News

The Digital Supply Chain. Doing Away With The Paper Trail

Posted by Land Link Traffic Systems on Apr 13, 2021 10:44:34 AM

We have written about the emerging technologies affecting worldwide business and financial transactions for years now. Increasing technology innovations are making big waves across industries. Logistics and the supply chain may be one of the most impacted sectors. Notorious for its heavy use of manual processes and large amounts of data stored in different ways and in different places, the logistics industry has perhaps the most to gain from implementing new technologies and following the most innovative Supply Chain and Logistics technology trends. Enter the digital supply chain.

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Topics: Third Party Logistics, Freight Bill Auditing, Logistics News

Logistics Trends Post Covid

Posted by Land Link Traffic Systems on Mar 3, 2021 8:48:35 AM

Things are slowing opening back up.  Hopefully, the trend continues with no significant spikes in infection rates.  That being said let’s look at some industry trends we should all be aware of in 2021.  

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Topics: Freight Bill Auditing, Maximizing Routing Efficiencies, Logistics News

Supply Chain Recovery Strategies Post Covid-19

Posted by Land Link Traffic Systems on Feb 4, 2021 10:45:00 AM

The effects of the Covid-19 virus are yet to be accurately measured in terms of human life and global economic impact.  Hospitalizations have begun to level out in parts of the country with the vaccine rollout. It is the universal expectation that the U.S. economy and the world will slowly recover from this pandemic.  Perhaps as early as Mid-2021. Now is the time to formulate your organizations recovery plan. 

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Topics: Supply Chain Management, Freight Bill Auditing, Transportation News, Logistics News

What To Expect From Our 2021 Economy

Posted by Land Link Traffic Systems on Jan 27, 2021 5:34:22 AM

Given the turmoil of 2020, with the pandemic, the tense election cycle and public protests, we are all clamoring for a surer sense of what is to come. The real issue is not whether the economy will be strong, but rather how strong. We’re all cautiously optimistic that things are going to return to some semblance of normal some time In 2021. We may be wearing masks and social distancing for some time to come but the American economy is resilient. We will find a way to adapt and prosper in our new environment.

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Topics: Supply Chain Management, Third Party Logistics, Freight Bill Auditing, Transportation News, Logistics News

Analytics Are More Relevant Than Ever

Posted by Land Link Traffic Systems on Jan 20, 2021 10:09:19 AM

In today’s Logistics business time and performance are key to success. Now more than ever analytics, metrics and key performance indicators are critical components in planning and execution protocols. Today’s logistics market is more demanding than it’s ever been. Businesses across the supply chain are now expected to easily adjust to shipment patterns, predict customers’ buying behaviors, provide on-time deliveries through the most efficient routes possible, and reduce the risks of cargo inventory errors and miscalculations. Predictive analysis allows for advanced planning for future demand based upon historical data. This movement towards anticipatory logistics is already widely accepted among industry decision-makers: A study by the Council of Supply Chain Management Professionals revealed that 93% of shippers and 98% of third-party logistics firms feel like data-driven decision-making is crucial to supply chain activities, and 71% of them believe that big data improves quality and performance. 

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Topics: Third Party Logistics, Freight Bill Auditing, Transportation News, Reducing Freight Rates, Logistics News, Industry Trends

Some Supply Chain Issues To Be Aware Of In 2021

Posted by Land Link Traffic Systems on Jan 13, 2021 11:38:33 AM

As we struggle to combat Covid-19 and other mutant strains of the virus, through this year and beyond, logistics planners may want to keep their eye on some key factors affecting the supply chain. You may find some of these topics affecting your logistics planning in the coming years.

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Topics: Third Party Logistics, Freight Bill Auditing, Transportation News, Reducing Freight Rates, Maximizing Routing Efficiencies, Logistics News

The Origin of Christmas

Posted by Land Link Traffic Systems on Dec 17, 2020 9:51:03 AM

Christmas, is the Christian festival celebrating the birth of Jesus. The English term Christmas (“mass on Christ’s day”) is of fairly recent origin. The earlier term Yule may have derived from the Germanic jōl or the Anglo-Saxon geōl, which referred to the feast of the winter solstice. The corresponding terms in other languages—Navidad in Spanish, Natale in Italian, Noël in French—all probably denote nativity. The German word Weihnachten denotes “hallowed night.” Since the early 20th century, Christmas has also been a secular family holiday, observed by Christians and non-Christians alike, devoid of Christian elements, and marked by an increasingly elaborate exchange of gifts. In this secular Christmas celebration, a mythical figure named Santa Claus plays the pivotal role. Christmas is celebrated on Friday, December 25, 2020.

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Topics: Freight Bill Auditing, Logistics News

Year End Supply Chain Planning and Review

Posted by Land Link Traffic Systems on Dec 9, 2020 10:15:10 AM

As the challenging year of 2020 draws to a close it may be useful to review some of your freight payment protocols. A good place to start is a year-end freight bill review. Things are a little quieter this time of year and there is plenty of recent data to review. Typically, this is a no cost exercise provided by your 3PL so there is every reason to have the review done. If for no other reason than knowing your fright payment protocols are working.

What is a Freight Invoice Audit?

Rising freight costs is an emerging area of concern as seen in recent years. The cost of freight has been rising due to the increase in oil prices and all freight cost is highly dependent on the cost of transportation which relates directly to fuel prices and market demand. With high fluctuations of fuel costs, low visibility of the future freight costs and high complexity of the freight quotes, freight cost verification are vulnerable to human and process errors and this requires proper auditing to ensure that the organization does not overpay for services it did not incur.  As a concept, freight invoice auditing is not overly complicated to understand but is a playground for mistakes and inefficiencies due to the volume of transactions. The potential financial leak is significant. The idea is to make sure you only pay the shipping charges you should, and nothing more. In most cases, software does the hard work. However, in some cases more focused auditing may be necessary to identify overcharges or inefficiencies.  An organization is daunted with the task of calculating the freight rates manually and this task can be challenging when the customer has hundreds of shipments shipped each month. Most organizations do not have the manpower to calculate all the freight invoices issued to them and, at best, they perform random sampling to check if the sample invoice is billed correctly.  It is simply a sound business practice to do an annual freight bill audit.

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Topics: Third Party Logistics, Freight Bill Auditing, Logistics News