The EU’s health ministers will have gained more a few gray hairs as the vaccine shortage fallout got worse in recent weeks. Shippers, freight forwarders and logistics managers have most likely given up counting the gray hairs caused by a very different shortage. For months now, the ubiquitous box that carries most shipborne trade has been in short supply – with far-reaching consequences for supply chains, freight rates and, ultimately, consumer prices.
The expansion of the global market and the rise of e-commerce has led to some interesting challenges for international shippers. As logic would denote, the further away you’re shipping your freight, the more complicated the process becomes. To help simplify that, at least in part, international commercial laws have been established over the past few decades to help standardize the rules and regulations surrounding the shipment and transportation of goods.
From AQL to XML, the shipping world is filled with both abbreviations and acronyms. As we’re bombarded on a daily basis with these shorthand terms, it can be easy to feel a little lost. However, there are many acronyms that are vital shippers, not because they save time when speaking or typing, but because they can change the level on which a company operates.
Global freight is an ever-growing and dynamic domain. With transportation intrinsic for the smooth functioning of supply chains, the freight management system market has immense potential. The freight management system market is expected to grow at an estimated CAGR of 10.1% by 2023. The growth also opens new avenues for advanced technological innovations and adoptions. One of the most popular trends in the industry is the evident proliferation of SaaS (Software as a Service) over the past few years.
The year 2020 has been a year of supply chain disruptions worldwide that have significantly accelerated the adoption of emerging and advanced technologies across the industry. How to future-proof your business against disruptions and make supply chains resilient have remained the focus of companies this year.
COVID-19 exposed the vulnerabilities humankind faces, not just in the case of health but also in terms of trade, as the global supply chain almost ground to a halt at the peak of the pandemic. Starting from the world’s factory, China, country after country implemented lockdowns on businesses, trade, schools, shops, and transport.
We are proud to announce that we here at Ocean Insights were recently invited to participate in a webinar with CargoNow, for a fireside chat with some brilliant minds in supply chain management from Japan. For those that missed the original broadcast, we wanted to share some highlights of the webinar and detail the importance of real-time and predictive data.