What are the major Supply Chain Trends to consider in today’s market?
In today’s market, several supply chain trends are shaping the industry. Here are some major trends to consider: Digital Transformation: The adoption of digital technologies such as artificial intelligence, big data analytics, blockchain, Internet of Things (IoT), and automation is transforming supply chain operations. These technologies enhance visibility, optimize processes, enable real-time tracking, improve decision-making, […]
What do you think is the most important skill for a logistics officer to have?
Logistics officers are responsible for managing complex operations involving the movement of goods, coordinating with suppliers, monitoring inventory levels, and ensuring timely deliveries. Having excellent organizational and planning skills is essential to effectively handle multiple tasks, prioritize activities, and create efficient logistics strategies. This includes being able to anticipate potential issues, develop contingency plans, and […]
What are the major Supply Chain Trends to consider in today’s market?
The global supply chain is developing quickly, and keeping up with the current era’s rapid technological breakthroughs. Although it can be challenging for supply chain managers and business executives to keep up with these developments, doing so is essential to maintaine the resilience of your supply chain and boosting the success of the organisation. Staying […]
What is third party logistics (3PL)
Third-Party Logistics (3PL) is a form of outsourcing in which a company (the “shipper”) contracts with one or more third-party logistics providers to handle some or all of its logistics operations, such as transportation, warehousing, and distribution. 3PL providers typically specialize in one or more logistics services and can offer shippers access to a wider […]
How Do I Evaluate a Fulfillment Company?
Following the identification of your fulfillment requirements, you can assess the compliance of your current and/or prospective fulfillment partners by looking at factors like Inventory Tracking, Multiple Shipping Options, Data, Customer Intelligence, and Analytics, Customer Support, Location and Network.
What is the difference between 1PL,2PL,3PL,4PL services?
There’s some debate out there and it depends who you ask. To me 4PL is when a company takes over completely the responsibility for managing their client’s logistics. The 4PL typically communicates through all channels (air, sea, warehousing) and often may select the partners the client is using for their transportation. This website does a […]
What is third party logistics (3PL)
A company that takes care of your warehousing and fulfillment, leaving you time to work on what you know best, building your business.
Which tax planning strategies are most pertinent to logistics companies?
Logistics companies have a lot of the same opportunities for tax planning that any other company would have (such as creating qualified retirement plans, choosing the right method of accounting [cash basis or accrual], taking 100% bonus depreciation, etc.) but there are a few tax moves that logistics companies should pay special attention to. The […]
What should I be looking for in a bookkeeper/accountant if I operate trucking depot in multiple states?
The central issue you’re trying to solve for when you operate in more than one state is making sure that your books accurately account for the state in which revenue is earned. This is the starting point to make sure that you allocate the correct income figures in each state that you operate in, and […]
How can I negotiate best contract with FedEx and UPS?
The reason the carriers have so much power at the negotiation table is due to a lack of transparency. Knowledge is power at the table. So if you can obtain comparables to benchmark your pricing against you can leverage that intel to negotiate the best pricing. If you don’t have access to other similar size […]