For manufacturers and merchants, reverse logistics is nothing new. Managing the flow of returned goods and materials has been a business practice for decades, but it is typically disregarded in order fulfilment and forward logistics. This blog will update you on all you need to know about reverse logistics, from the advantages it offers to how it can be used to generate value for your company.
A bonded warehouse is a storage location where commodities imported into a new market are stored and processed. Customs duties are not levied on goods held in bonded warehouses. Any applicable duties become payable when the items are delivered to their final destination. Bonded warehouses, which the government or private firms can own, can help create inventory and cash flow efficiencies.
Getting your supply chain costs under control is one approach to boost your company’s profits. Today, supply chains are incredibly complex and intertwined, which may sound simple in theory but is not the case.
Knowing where to seek significant savings is critical. However, there are various areas across all business sectors where supply chain cost reduction potential exists, and we will discuss each one in detail here.
Logistics management is the governance of supply chain management functions that assist organizations in planning, managing, and implementing processes for moving and storing goods. The goal is to meet customer demands while still making a profit. To maintain a competitive advantage, one must develop an effective product, price, place, and promotion strategy.
This article discusses the various functions of logistics companies and how they can reach out to their target customers and deliver their products or services to them.
Multiple business units, internal supply chain stakeholders, and external vendors are all involved in supply chain management. Supply chain management is only possible when the right people are in place, using the correct data, and following the proper framework.
The risks in these intricate supply networks can’t be eliminated, and doing so is no easy task. In this article, we’ll go over the nine most crucial supply chain management strategies. A strong supply chain management strategy is built on these nine pillars.
Technology is the driving force behind the digitization process; and it must be properly chosen and applied to avoid becoming unduly complex while enhancing productivity and adding value. Technological advancements determine the logistics industry’s trends. Read top 10 logistics industry trends and innovations in 2021.
The holiday season is a time of year where many people spend more money than they usually do. The best way to prepare for the holidays is by preparing your supply chain. This includes ensuring that you have enough inventory, the right suppliers are available and dealing with any issues before they arise. If you follow these simple steps, your company will be able to enjoy one of the most profitable times of the year without worrying about running out of goods or service interruptions due to lack of supplies.
This blog explains how the COVID-19 problem is speeding the expansion of e-commerce into new enterprises, customers, and product categories, most likely resulting in a long-term shift away from luxury goods and services and toward everyday necessities.
Understanding the strategic goals and objectives of Supply Chain Management are vital when you are seeking to improve the overall productivity and efficiency of your business. This also improves your bottom line and brings massive financial benefits to your business. So, what are the main objectives of SCM? Read on to find out.
Freight forwarding is the process of moving cargo by freight transport companies from the point of origin to a destination, whether that cargo is being carried as ocean freight, air freight or truck freight.
Stockarea offers end-to-end supply chain services such as Warehousing, Freight Forwarding, Customs Clearance, and Transportation, acting as your logistics backbone. Let us take care of your complex supply chain so that you can focus on your core business.
