Read about the latest innovations in the in the world of logistics.
Reverse logistics refer to circling back products from the consumer back to the merchant. It is done to complete the cycle of a product for capturing value or properly disposing of them. The supply chain process deals with collecting goods from different consumer locations and then gathering the goods at one location. From there, the products are then transported to the manufacturers or other facilities for disposal, refurbishing, reuse, or recycled.
When it comes to extensive inventories, warehouses can be very hectic to manage. Whether you own your warehouse or hire a third-party logistics partner to do your warehousing for you, a Warehouse Management System will help keep things well organized and tidy. There are so many aspects that need to be controlled inside a warehouse which has ripple effects that impact the end customer and the business itself in so many ways.
Supply Chain Management is the process that is at the heart of the business. It is the flow of goods, finances, and data that make a business of products or services possible. It is the entire chain of events that leads to an end customer's needs being satisfied. A lot of people confuse supply chains with logistics. Logistics happens to be just one part of many in a supply chain. It also involves processes like warehousing, inventory, staff management, etc.
Customer-centricity is one of the most important aspects of the business. A famous saying is that you shouldn’t find customers for your products, but instead, make products for your customers. Businesses that focus on fulfilling their customer’s needs are the businesses that thrive. A well-managed supply chain is a key to happy customers. After all, fulfillment of offerings on time and efficiently is all a customer wants! Add to that great post-sales support, options for reverse logistics, and transparency, and you have happy customers.
The world of business can get complicated and cut-throat competitive. Having an edge over your competition requires you to be ahead of your game in every aspect, and managers need to learn the requirement of balanced inventory management. If you’re in the business of moving any kind of product, there are several processes like sourcing raw materials, manufacturing products, and storing them before they are sold. If your business is bigger in size and has multiple locations, you also have to think about the movement of products to different warehouses and different retailers.
Big data is the term given to analyze and extract information from large sets of data that are important to big industries. It is called big data because the complexities that come with such a large set of variables and numbers can only be dealt with unique processes and not regular data-processing application software. Out of all the industries it is so vitally placed in, big data plays a very significant part in the Logistics Industry and the Supply chain aspect of businesses.
The automotive industry is not only competent but thriving. It is one of the significant influences on a country's economy wherever there is an established industry. However, maintaining a supply chain for something technically complex and has 100s of different moving parts can be a little hectic. So naturally, a task such as this comes with its share of challenges.
All logistics businesses in the world know the value of last-mile delivery. It is a term initially coined by the telecommunications companies referred to last-mile as the connection from ISP to the user’s location. Nowadays, it is exclusively used in the logistics business. It refers to the last phase of a delivery where the product is sent from the warehouse to the end customer.
With the rising popularity of e-commerce business models globally, the need for proper inventory management is now more than ever. Whether your business has a B2B model or a B2C model, inventory management is of the utmost importance. Even if you have been doing this for several years before, you’d be surprised at how much more you can gain by tweaking a few things in your inventory management practices. Regardless of whether you operate a retail store or an e-commerce business, you can get some valuable information from this article.
Supply Chain Management is the practice of organizing the secure flow of goods and services. Depending on the industry this can vary from the product offered by the specific industry. The process includes and considers the entire conversion of raw material into finished products, and then reaching the hands of the end customer.
Businesses of all styles, whether retail, wholesale or even services-based, rely in some way or the other on supply chains. These supply chains are the essence of modern businesses. A supply chain is the entire channel where the industry is supplied with raw materials, delivers finished products to the end customer, and everything in between.
Technology has helped industries take big leaps and modernize how their operations are handled. Warehousing and shipping are the life’s blood of the economy, and current customer trends have made it very important to pay special attention to increase the efficiency of these industries. With the rising popularity and growth of E-commerce in the global trade world, it is getting harder and harder to fulfill the ever-growing high standards and expectations of the modern customer.
Supply Chain Management (SCM) is the system that connects and integrates the links of logistics management, sourcing, procurement, and conversion of any business.
Generations of Hollywood movies have given us a very different (but cooler) idea of what to expect when we hear the words Artificial Intelligence. But instead of robot friends, we have to settle for automated software and voice assistants that can play the song we ask it to.
The logistics industry is what drives the economy of every country in the world. It is also why the world is a smaller place today, and global trade has been made possible. The transportation and Logistics industry aids most major industries and, in essence, is the backbone of operations and development. These industries include everything from Agriculture, medicine, and manufacturing to essential services and e-commerce.
When someone thinks of Supply Chain Management, big industries and B2B models come to mind. It sounds like something sophisticated, which involves a large setup of people and a group of staff at every level, working in harmony to make a large chain like this work. But what most people don’t know, supply chains are equally important and significant for retailers too!
Global trade has been made so much easier in the modern era, owing to the rapid rate at which industrialization has evolved. We can now buy and sell anything anywhere because the right resources are readily available at our disposal. The business climate in the current world makes it possible for trade to take place quickly. With the proper marketing, you can have a customer base anywhere in the world. But how do your products actually reach these customers?
The Internet of Things is the revolution that has brought technology and man closer than ever. IoT is networking objects and things in everyday life to a network where you can monitor and control all of it. A great example to understand how this works is the modern intelligent home setups like Amazon’s Alexa or Google Home. These setups can connect to appliances in your home like fridges, washing machines, TVs, ceiling fans; basically, anything that can be toggled on and off and has settings to toggle through can be controlled through your smartphone or even your voice commands!
Warehousing for E-commerce businesses is not anything like regular warehousing. Most industries that sell any kind of product are shifting to an E-commerce model because that is in demand. The competitive nature of the market has driven most companies into switching to this model, or at least branch into it. People expect their orders to be delivered at home and want the delivery to be swift, quick, and with features like real-time tracking and options for last-minute modifications.
As technology grows, so do business practices. The future of all business is automation and the computer doing most of the work. This is not an innovation we are waiting for anymore; it is called machine learning in the modern world. Machine learning works by studying computer algorithms and patterns and improving processes over time using data and experience. Artificial intelligence has many applications in everyday life, but this technology is beneficial in a multitude of businesses, most importantly, supply chain management.
Supply chain management is an essential aspect of most businesses today. It is the movement of everything from raw material to finished product from point A to point B. It is a complex web of organizations, companies, suppliers, and of course, the end customers.
Returns have been the thorn in the side of E-Commerce businesses across the globe. Many reasons factor into why this happens, but careful packaging and implementing a few tips can eliminate the rate of damaged deliveries and lower the return rates.
Logistics is a world of jargon and complicated terms. Forward and reverse logistics are two sides of the same coin that often seems to trouble the uninitiated. Reverse logistics has become an important aspect of the E-commerce trend to maximize customer satisfaction and also, at the same time, promote recycling.
Last-mile delivery is the part of the delivery process where the customer finally gets their product. It requires a fleet of small vehicles to individually deliver the products to residencies. The last-mile delivery has always been the costliest part of the process, but it has been even more difficult since the covid-19 pandemic struck the world. E-commerce has constantly been rising in stature and evolving as the customer demands keep getting higher. Customers these days require everything at the comfort of their home with the option of their product being replaced, and they want it all to happen as fast as possible.
Businesses across the globe rely on the quality management of their supply chains. Supply chain management is the process of transition and movement of goods from raw materials to finished products through different cycles of their life until they're in the end consumer's hands or disposed of safely back at the manufacturer.
Blockchain has been doing the rounds of a famous new technological system to keep track of transactions. Everybody seems to be interested in the technology, especially because of the hype of cryptocurrencies like bitcoin. Blockchain technology essentially gives you a transparent chain of transactions that are impossible to change or edit. It basically works like adding new entries into a ledger, but only that the access can never be changed again.
A supply chain is the cycle of production which contains all aspects of the process, from raw material to finished product, from storage to delivery of the product to the end customer, and everything in between. The bigger the business, the harder it is to control this chain and ensure the operation runs smoothly. This is where the practices of Supply Chain Management, commonly abbreviated as SCM, originate from.
The entire concept of supply chain management is based on creating more efficiency and productivity across the chain so that business is done better and the end customer and company are brought closer together. It means more profits for the business and quicker and higher quality product acquirement and experience for the customer. Regardless of a B2B or B2C design, supply chains ought to be as efficient as possible. Even when a business is a customer themselves, pleasing them is of the utmost importance, as it is for an individual. A supply chain is a summation of many elements. This involves dealers, suppliers, delivery professionals, warehouse managers, etc.
Several small players have long dominated logistics in India. But now, tech startups are transforming this conventionally-run Industry with their disruptive concepts and approaches.
To get any warehouse started back and operational at the near-full functioning capacity post the easing of lockdown regulations has been no easy feat. There are a variety of precautions and measures that need to be taken for a myriad of employees. And all these precautions vary from one set of job roles to the next.
As COVID 19 continues to have an impact on all aspects of society, the pandemic has hit particularly hard on the food supply chain. In India the rigorous lockdown has seen a huge effect on an already slowing economy, resulting in an economic stimulus from the government. But the government’s challenges are two-fold.
With the entire nation under lockdown since 25 March, it has been over 50 days since the citizens were forced to take drastic measures to fight the ongoing pandemic. We are all experiencing just how difficult and disruptive the actions have been. And while all aspects of life have been hit, many learnings can be gleaned from the lockdown as well.
The huge impacts that the ongoing COVID 19 pandemic has had on logistics if self-evident and cannot be understated. There are massive fallouts from the strict but necessary lockdown implemented by the government. It has also resulted in a massive challenge for logistics, with regulations varying from state to state and a lack of universal policies.
With the advent of the ongoing pandemic prolonging and fears regarding a second wave of the virus in the fall, there is a lot of uncertainty about what the future might look like. Some anticipate that the supply chain management methods and practices that had become standardized in the global economy may have changed forever.
With things in an uncertain place because of the ongoing pandemic, the time is ripe for a Digital Transformation. While most of the previous discussions in the supply chain system have revolved around a timeline of 3-5 years before the digitization transition even begins, circumstances have fast-tracked that discussion and thrust the onus onto the systems to fully embrace the digital transformation.
When you consider the impact of logistics in the economy, the scale is so massive that it is hard to quantify all at once. You have to delve deep into the various sectors that are heavily dependent on logistics. In the truest sense, logistics truly does drive the economy. The effective movement of goods creates larger trade and economic growth opportunities in an economy.
A big share of the market today is online, be it in the retail industry or even the service industry. There is no running away from it; the digital transformation of businesses is well and truly underway. So what are your options as a supplier who is part of the ecosystem? Well, intelligent capture of information and utilizing data for one. As the Indian consumer becomes more aware and savvy about online delivery, the demand is growing dramatically.
Sustainability and going green are buzzwords in plenty of business sectors nowadays. So is it any surprise that the concept has found its way to the supply chain management sector? When a traditional supply chain system is infused with sustainable and environmentally-friendly processes, it is called Green Supply Chain Management (GSCM). Any part of the process can be eco-friendly - from material sourcing to product design, from production to end-of-life management.
When it comes to disasters or Acts of God such as a pandemic, they expose a wide variety of flaws in a plethora of systems. You could be part of the transportation ecosystem, or the water supply ecosystem or even the retail system. The fact of the matter is that when an unforeseen disaster strikes, it forces entire economies to revisit and evaluate the obvious and overriding flaws of the system. Sometimes these systems have deep-rooted problems that require large-scale overhauls and sometimes it is about making minor adjustments that will help in adapting to the current situational needs.
If you think back to a few years ago, most people’s understanding of the term packaging was very limited. The image of a packet that contained food products or simply a carton was usually the norm. But the fact of the matter is, the packaging industry as a whole has come a long way since those days.
Anything data that can be made sense of or interpreted in a meaningful way is information. This means that the data’s purpose and source have to make sense. To make an Information System, there has to be a specific purpose. This means that an Information System must make sense to someone like a system analyst.
The simplest way to understand Pick and Pack is to think of an e-commerce business. Pick and pack is the process that helps an e-commerce business fulfill its orders. The process is not limited to just e-commerce, of course, but it helps get a good understanding if we take it as an example.
With growing demand and new emerging markets for perishable goods, the need for temperature-controlled packaging and cold chain logistics is on the rise. This in part due to the increase in demand for things like fresh foods, flowers, temperature-sensitive pharmaceuticals and several other perishable goods.
Pleasing a customer and keeping them pleased is the hardest part of being in a business in this modern age. E-commerce has done a lot of great things for the world, but it has also spoiled the consumer for choices. This has resulted in all-time low brand loyalty by customers. Businesses now have to scrap for every bit of validation and acceptance from customers and make their quality experience their top priority.
Global trade has evolved so that any kind of product is available to buy regardless of geographic location. The interesting thing is that this includes perishable items like meat, medicines, and even flowers. How do you suppose imported meat gets delivered worldwide? The answer is through cold chain logistics.
Efficient warehousing is the need of the hour for a lot of businesses. The movement of a product and the speed at which it is done is all that matters when it comes to customer retention in the modern world. All of your competitors strive to give the fastest delivery options possible, and your customers only care about being served the quickest.
Supply chain management is a vital process for any industry to run efficiently. Hospitals and healthcare sectors have been working hard to curb the coronavirus threat in the last two years. They must also adapt to the latest, most sophisticated technology available to work with. The use of technology and supplies in hospitals is at an all-time high. In such a scenario, every healthcare institute must be fully modernized in terms of supply chain management practices.