Various macro forces are redrawing the global trade map, and one of them is China’s revival of the ancient Silk Road trade route.
For shippers large and small, the multi-billion-dollar infrastructural project could bring huge opportunities for improving the efficiency of global supply chains—providing they do their homework first. Here’s an overview of the global trade possibilities and potential for the “new Silk Road.”
Keeping pace with constantly changing multichannel models can be a formidable supply chain challenge. Increased competition and the quest for growth are driving the need to react quickly to changing market demands, all while maintaining high service standards and meeting consumers’ rising expectations. TMS technology can play a key role in helping companies develop new multichannel capabilities and improve existing ones.
Managed services solutions offer transportation management system (TMS) software and third-party provider expertise in one package. It’s an attractive combination for shippers that want to outsource the day-to-day management of their freight networks while retaining full control of key decisions.
Over recent years, the supply chain profession has expanded to take in a wider range of disciplines—and functional titles. Nowhere is this trend more apparent than in the service provider space.
In the industry’s alphabet soup of provider titles, it can be difficult to figure out the differences between acronyms such as 3PL and 4PL, or LLP and LSP. Maybe you’re wondering whether there’s such a thing as a 5PL.
Does it matter if you know the exact differences between these acronyms? Well, misnaming a service provider probably won’t throw the efficiency of your freight network into a nosedive. And if you’re confused, there is no need to rush out and recruit a director of semantics.
Still, confusion over the functional identity of a service provider can reflect muddled thinking on the type of services you actually need. Also, a provider that calls itself one thing, but in reality fulfills another role, should raise some red flags.
An Expanded Panama Canal Takes Logistics into Uncharted Waters.Connect
Editor’s note: This post originally ran in February. Since the Panama Canal opened this past Sunday, we wanted to share it with you again.
In December, the Port of Los Angeles handled the largest container ship ever to call at a North American port. The arrival of the Benjamin Franklin offers a glimpse of a major change in supply chain management in 2016.