How Efficient Are Your Supply Chains?
Transcript of How Efficient Are Your Supply Chains?
HOW EFFICIENT ARE YOUR SUPPLY CHAINS?
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ABOUTXENETA
At Xeneta we believe there is an untapped potential for everyone in the industry, to systematically learn from our individual and collective efforts. We hold true that "if you cannot measure it, you cannot improve it". That’s why we think actionable metrics is the key to continuously evolve for every business, and ultimately the entire industry. Rethinking global logistics is the vision of Xeneta.
With international experience from the logistics industry, we have first-hand knowledge of the challenges related to high volatility and lack of transparency in the ocean freight market. By combining logistics background and information technology expertise, we found the solution
WE ARE TRANSFORMING GLOBAL LOGISTICS
ARE YOU PAYING THE RIGHT CONTAINER
FREIGHT RATES?
DISCOVER SAVINGS POTENTIAL IN REAL
TIME.
CONTACT US.
WEBSTER'S DICTIONARY DEFINES EFFICIENT AS “PRODUCTIVE WITHOUT WASTE”. DO YOUR SUPPLY CHAINS MEET THIS DEFINITION?
IT’S A FITTING QUESTION TO BEGIN THE NEW YEAR, SO WE POSED THE
QUESTION.
“HOW EFFICIENT ARE YOUR SUPPLY CHAINS” TO OUR
COMMUNITY. HERE ARE THE RESULTS.
THE RESULTS OF OUR SURVEY INDICATED THAT OVER 71% OF
RESPONDENTS NOTED THAT THERE WAS ROOM FOR IMPROVEMENT WHILE 17.1% BELIEVED THEIR
SUPPLY CHAINS WERE OPTIMALLY CONNECTED. THE REMAINING 11.3%
WAS SPLIT BETWEEN THE RESPONSE ‘INEFFICIENT AND WE KNOW IT’ AT 8.5% AND ‘AVOID REVIEWING THE
STATUS’ AT 2.8%.
FOR THOSE FOLKS THAT NOTED THAT THEIR SUPPLY CHAINS WERE OPTIMALLY CONNECTED, CONGRATULATIONS TO YOU. IT’S A TOUGH TASK TO ENSURE ONE’S SUPPLY CHAIN IS OPERATING AT OPTIMAL LEVELS.
FOR THE REST OF THE RESPONDENTS AND FOR THAT MATTER, THE MAJORITY OF SUPPLY CHAINS IN GENERAL, EFFICIENT SUPPLY CHAINS IS THE GOAL – REDUCING COSTS, IMPROVING TIMES OF PRODUCTION AND ACCURACY AS WELL AS OPTIMIZED NETWORK DESIGNS – ARE ALL NEEDED TO COMPETE IN THE GLOBAL ENVIRONMENT.
OCEAN FREIGHT RATES ARE INCREASING. FIND OUT HOW TO STAY AHEAD OF THE MARKET.
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TECHNOLOGY HELPS IMPROVE EFFICIENCY
WE BELIEVE THAT NEW TECHNOLOGIES HAVE THE POTENTIAL TO IMPROVE WORKING CONDITIONS AND DELIVER SIGNIFICANT
PRODUCTIVITY IMPROVEMENTS, WHICH, IN TURN, SHOULD DRIVE THE DEVELOPMENT OF
NEW SERVICES AND EMPLOYMENT OPPORTUNITIES.
A DHL SPOKESMAN RECENTLY TOLD THE LOADSTAR
DHL DEMONSTRATED THIS BY TESTING SMART GLASSES AND AUGMENTED REALITY TO IMPLEMENT "VISION PICKING" IN WAREHOUSING OPERATIONS. THE FINDINGS SHOWED THAT THE USE OF SMART GLASSES AND AUGMENTED REALITY RESULTED IN 25% MORE EFFICIENCY AND WITH NO ERRORS COMPARED TO ORDER PICKERS THAT DID NOT UTILIZE THE SMART GLASSES AND AUGMENTED REALITY.
EFFICIENCY IS NOT ONLY FOUND IN WAREHOUSES, BUT THROUGHOUT
THE ENTIRE SUPPLY CHAIN. PERHAPS ONE OF THE BIGGEST BENEFITS THAT TECHNOLOGY HAS PROVIDED SUPPLY
CHAINS IS VISIBILITY.
ACCORDING TO THE NATIONAL INSTITUTE OF STANDARDS AND
TECHNOLOGY’S MANUFACTURING EXTENSION PARTNERSHIP THE GOAL OF
VISIBILITY IS TO:
REDUCE BUSINESS AND SUPPLY CHAIN RISK
WE BELIEVE THAT NEW TECHNOLOGIES HAVE THE POTENTIAL TO IMPROVE WORKING CONDITIONS AND DELIVER SIGNIFICANT
PRODUCTIVITY IMPROVEMENTS, WHICH, IN TURN, SHOULD DRIVE THE DEVELOPMENT OF
NEW SERVICES AND EMPLOYMENT OPPORTUNITIES.
A DHL SPOKESMAN RECENTLY TOLD THE LOADSTAR
IMPROVE LEAD TIMES AND PERFORMANCE
IDENTIFY SHORTAGE AND QUALITY PROBLEMS ALONG THE
SUPPLY CHAIN
RELATEDREADING:
SUPPLY CHAIN: WHAT TO EXPECT IN 2030?DIGITAL FITNESS: A PREREQUISITE
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LEARN HOW XENETA CAN HELPYOU GET INSIGHT INTO YOUR
GLOBAL OCEAN FREIGHT PRICES.
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LACK OF RATE VISIBILITY LEADS TO SCM INEFFICIENCY
THE OCEAN FREIGHT MARKET IN PARTICULAR HAS BEEN VOLATILE FOR SEVERAL YEARS WITH OVERCAPACITY ISSUES LOOMING AND SHIPPING RATES THAT REACT UPWARDS OR DOWNWARDS AT A MOMENT'S NOTICE.
SHIPPERS NEED TO ENSURE THEY ARE GETTING A COMPETITIVE RATE AND IN TURN MAKE SURE THEY ARE AHEAD OF A VERY VOLATILE MARKET TO ENSURE SUPPLY CHAIN FLOW.
SO FAR, 2017 LOOKS LIKE IT IS BECOMING A SELLER'S MARKET, HOWEVER, CHINESE NEW YEAR AND OVERCAPACITY CAN CHANGE THAT OVER NIGHT. THE OUTLOOK FOR 2017 CAN BE VERY DIFFERENT IN THE COMING QUARTERS