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Five Biggest Challenges of Importers and Exporters-Infographic

excelsior on March 31, 2021

The challenges of importing and exporting goods are very real. In today’s globalized economy, economies must be prepared to deal with the volatility of trading partners and unstable currencies. As a result, even the most well-planned trade transactions can become riddled with errors, which can quickly erode the gains that have been made. Importers and exporters are therefore always at risk of experiencing currency mismatches. These occur when a country’s currency moves in relation to another country.

This kind of situation occurs for a number of reasons. For example, depending on the type of product being imported or exported, the importer may have purchased their goods from a different country at a lower price than they paid for them in their own currency. In order to counteract this, exporters will usually hold back on selling a given good until a favorable rate has been achieved. By holding back on selling a particular good, they will ensure that the foreign country becomes more likely to buy their goods.

Apart from currency mismatch, here are other challenges that importers and exporters regularly face in the competitive world of commerce:

Customs Broker

  1. Finding the Right Licensed Customs Broker

There are numerous licensed customs brokerage firms that offer high-quality services to their valued customers, regardless of what type of products they sell. However, some licensed customs brokers are more skilled in handling clients of a specific industry, and choosing one that possesses vast knowledge about your products is definitely an advantage. If you are looking for ways to grow your business, finding the right licensed customs broker that can provide expert advice on how to clear your products on customs authorities is a must.

  1. Planning a Foolproof Logistics Plan

Planning your overall logistics needs for shipping products can be a recurring headache. Since it is a critical factor in any trading business, you have to be extra careful at all times. It usually consists of several processes wherein a single glitch or error could result in dire consequences, such as delays in your shipment’s arrival. Ensuring your products arrive safely on time should always be on top of your priorities.

  1. Calculating the Total Expenses

One of the most grueling financial hurdles in international trade is paying hidden charges. When shipping products abroad, you will most likely burden yourself with additional expenses, especially if you hired an unreliable licensed customs broker.

Some of these hidden charges in shipping include the following:

  • Less than Container Load (LCL) charges
  • Port fees
  • Chassis fees
  • Wait Time fee
  • Customs Exams

  1. Preventing Document Backlogs

These involve the delays that might happen during the documentation process, primarily if the importer or freight forwarder in charge provided inaccurate information about their shipment. Complying with the requirements properly will help eliminate all the unnecessary expenses you might bear in committing mistakes in documentation like penalties.

  1. Adjusting to New Rules and Regulations

Regulations in the importing or exporting country can change at any moment, and this alone can sometimes become a nightmare for international traders. A worse-case-scenario would be like transporting an item to a country that suddenly imposes a ban on that very same item. That is why having a freight forwarder, and a licensed customs broker with a wide area of connections can help a lot in detecting these possible fluctuations in rules and regulations.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Sources:

/6-biggest-frustrations-of-importers-and-exporters/

What You Need to Know About Bill of Lading

excelsior on March 29, 2021

A bill of lading, also known as BOL or waybill, is a bill issued by a carrier to acknowledge receipt of consignment for shipping. While historically associated only with ocean-borne carriage by sea, today, a bill of lading can be used for almost any kind of transport of goods. The term originally referred only to a record of consignments, but in modern times it generally refers to a bill of lading that authorizes a shipper to undertake a specific transportation activity. In order for a bill of lading to legally define a particular transaction, it usually must be signed by a notary public. This notarial act provides protection to the shipper from both fraud and a civil penalty for non-delivery.

A bill of lading should be carefully tailored to describe the specific kind of service or item for which it is intended. Unlike a bill of lading, which typically identifies a particular carrier and the parties to a shipment, the bill of lading describes the parties to a transaction and the relationship between them. For instance, when describing a long-distance load involving a tank car, the bill should specify if the vehicle is delivered on a flatbed truck, enclosed in a container, or by air freight. It should also describe the mode of transportation and how the goods are shipped. It would be absurd to allow a bill of lading to specify the method of delivery of a television when the bill is actually for satellite transmission.

As the number of international shipments continues to grow, the need for a specialized bill of lading services has increased. In today’s international trade, the bill of lading is categorized into different types based on its purpose and information that must be carried over to the chosen carrier.

Here are the different types of bill of lading based on the mode of transportation:

Ocean Bill of Lading

The most common type of bill of lading, Ocean Bill of Lading, is issued to act as evidence that a contract has been made for the carrier to ship the goods to its destination.

Ocean Bill of Lading is typically a document in the form of three originals (signed, stamped, and negotiable), together with six non-negotiable copies.

Air Bill of Lading

As the name implied, an Air Bill of Lading is used if the shipment is to be carried via air transport. This bill of lading shall be given to the consignee upon the shipment’s arrival and is non-negotiable.

Direct Bill of Lading

Direct Bill of Lading can be issued in the event that the shipper was aware that the carrier that has the cargo would bring it to its target location. This form of arrangement is optimal for saving time as it allows the exporter or importer to organize the transport of the cargo from the warehouse directly to the shipping company.

Multimodal Bill of Lading

In case a shipment is to be moved by two or more means of transport, the bill of lading that must be issued will be a Multimodal Bill of Lading. The use of such a document is situational, especially if the shipper is located in a place that cannot be easily reached inland.

Inland Bill of Lading

This bill of lading can be issued if the shipment must be carried by a vehicle in order to reach the destination inland. Often used in the form of domestic transportation, an Inland Bill of Lading is prepared by the shipper, which will be signed by the person-in-charge of the carrying vehicle.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Why Your Business Needs a Licensed customs broker?-Infographic

excelsior on February 28, 2021

In terms of importing goods into the country, one of the most important things you need to consider is hiring a licensed customs broker. The Philippine government requires its citizens to have a valid entry permit for imports and exports. Without this permit, these people are not entitled to import or export goods, and it can be a lot of hassle trying to acquire one if you don’t know what you’re doing. Hiring a licensed customs broker in the Philippines is also a great way to obtain one because they are experienced in acquiring and processing all sorts of export applications.

If you are planning to expand your target market abroad, here are the other reasons why hiring a licensed customs broker in the Philippines is beneficial for your business:

Versatile and Fast Export/Import Process

Hiring a broker in the Philippines is an excellent option because these brokers in the country are specialized in all

sorts of export-related matters. These include importing and exporting automobiles, electrical equipment, textiles, clothing, and other types of products. A broker in the Philippines can help you get things done fast, regardless of your business. You’ll have to be prepared to shell out some extra cash for their services. However, rest assured that you will get the best deal out of your money soon.

Establish Rapport with the Government

Dealing with customs requirements is not an easy task, with a bunch of documents that must be processed in order to legally transport your goods from one country to another. As the liaison between the business owner and the local authorities, a licensed customs broker’s knowledge about clearing customs requirements will help streamline your logistics needs.

More Transport Options

A licensed customs broker can also be your most essential asset in getting better deals with carrier companies. They can

even expand your choices by keeping in touch with multiple carriers via air, sea, and land. These services are often categorized by freight, sea, and truck freight services.

Opens New Opportunities

A licensed customs broker can open new opportunities for your business with a quick and efficient service by reaching new target markets. This, in turn, increases your customers, which ultimately leads to more sales.

Finding the best licensed customs broker in the Philippines

There are a few things that you need to look for when choosing a broker in the Philippines. First, ensure that they have experience in dealing with your type of goods. Most importantly, check on the firm’s background and reputation. As a client, you should be able to find out whether a company has a good reputation or not. Ask around, browse through the internet and read reviews about the various brokers in the country. It’s also a good idea to ask for a sample of the services they provide so you can really see how their services work.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Why Hiring a Reliable Licensed Customs Broker is Important?

excelsior on February 25, 2021

Licensed Customs Broker

The primary reason why people in the Philippines seek out the services of a licensed customs broker is that they do not have access to information regarding tariffs and customs duties that they may need to pay when importing or exporting goods. A customs broker in the Philippines can provide a wealth of knowledge to individuals that are either exporters themselves or are looking to expand their business into the Philippine market.

Licensed customs brokers are an invaluable asset to companies that are unsure of the requirement and regulations that they need to comply within the country. For instance, a company that is considering exporting vehicles from the Philippines needs to be aware of all the applicable laws and requirements that it will need to procure a vehicle. Without a proper understanding of these regulations, it is unlikely that the shipment will make it through the borders and into the hands of its intended destination.

However, in order to provide the best services, one essential characteristic that a licensed customs broker must have is reliability. A reliable customs broker enables any business owner to get rid of all of the worries brought by the complexities of international shipping

Below are the following reasons that make it worth the investment of hiring a licensed customs broker:

They can Ensure the Timely Arrival of Your Shipment

Time is a crucial factor when shipping products abroad. Apart from unexpected events like natural disasters (which are beyond our control), problems with the customs authorities of the receiving country might arise, resulting in unwanted delays. Licensed reliable customs brokers can help you prevent such issues as the core of their job revolves around applying their knowledge when it comes to complying with different customs regulations.

They can Lessen Your Expenses

Working on customs responsibilities typically requires some software or hardware that can automate several parts of the process. These programs might already cost a lot, especially in terms of maintenance alone. A competitive and licensed customs broker is capable of saving you the trouble of paying for these expenses as their service entitles them to use the latest technology to make your shipping more seamless and hassle-free.

They Never Hesitate to Tell You Their Specialization

Companies or agencies offering customs brokerage services often hire professionals that can do their job regardless of the type of product that must be transported. Nevertheless, asking the specialization of a customs broker can be an advantage as the licensed ones are usually endowed with enough experience and knowledge in shipping a particular type of product. Reliable customs brokers are always ready to provide an honest answer to this kind of question.

They can Accomplish Their Duties with Your Company Goals in Mind

Another sign of a reliable customs broker is that aside from clearing your shipment from customs authorities, they also have the initiative to study the goals of your business operations, as well as your company as a whole. With your company goals in mind, it is possible for the customs broker to formulate a more efficient and personalized strategy in legally shipping your products.

Jumpstart Your Shipment Needs with the Best Freight Forwarders and Customs Brokers in Manila

At Excelsior Worldwide Freight Logistic and Excelsior Customs Brokerage, we ensure that your shipments will be able to cross international borders safely and efficiently. And because we strongly believe that your time is a critical element in your business strategy, we want to offer you a customs brokerage service that is well-grounded on professionalism, integrity, and efficiency. To know more about Excelsior, visit http://www.excelsior.ph.

Five Money-Saving Tips for Importers

excelsior on January 30, 2021

Money-Saving Tips for Importers

Saving money in importation is crucial for any business that aims to provide high-quality products to its loyal customers. However, successful importing requires effective communication, and getting good deals with international traders is not an easy task.

Some economic factors directly affect the practice of buying products overseas. One example is when a country imposes certain import duties on the goods coming from another country, the importer has to shell out a lot of money to get the goods at low duty rates. This further strengthens the need to learn ways to save money when importing goods.

If you own a business and is currently having some trouble with your expenses in the importation process, here are some tips that can help you minimize the costs:

Tip #1: Talk with Local Exporters

A straightforward way of saving money in importing is through getting in touch with local exporters. Most of these local exporters may have the details you need about the duties on imported goods and ways to save money in importation (from your country’s perspective). You can contact these local exporters directly and ask for advice on saving money on importation. The knowledge, especially in how they give rates to their products, will provide you with a rough idea of how you can deal with exporters from other countries.

Tip #2: Prefer Partnering with Suppliers for Neighboring Countries

As much as possible, try to negotiate with suppliers that are close to your home country. For example, if you are based in the Philippines, it would be better to partner with businesses situated in the East and Southeast Asian regions. Nearby countries can lower transportation costs and make it easier for your chosen freight forwarder to offer you better deals in carrying services.

Tip #3: Make a Checklist of Your Expenses

For those who are new in this practice, here are some of the expenses that you will likely incur to sustain your importation needs:

  • Trucking
  • Ocean Freight
  • Duty/Tax
  • Storage/Warehouse
  • Brokerage
  • Documentation
  • Shipping Charges

Tip #4: Buy in Large Quantities

Importing a large number of products on your first import can be a gamble as you don’t have any idea if it can sell well on your local market. Once you think that importation can be a promising venture for your business, it would be better if you will purchase in bulk. Large quantities are usually easier to negotiated deals with and will likely reduce the price per unit as you order more.

Tip #5: Track Your Imports

Knowing the condition of your imports, as well as being aware of its route, can provide you with details on how to speed up your other imports in the future. Freight forwarders are professionally trained to ensure that your imports will arrive on time and increase your chances of more saving money in the process.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

What You Need to Know about the Container Imbalance and COVID19 – Infographic

excelsior on December 15, 2020

Container imbalance is one of the most serious issues that can happen in the logistics industry. Such a phenomenon can lead to a series of outcomes that negatively affect the global economy. Lack of available containers for shipping can disrupt the supply chain of many businesses, especially those that cater to products with a low shelf life to their customers overseas.

Unfortunately, due to the outbreak of the COVID-19 virus, container imbalance is currently rampant in some parts of the world. It all started in March 2020, when lockdowns were strictly implemented in many countries, including the Philippines. The government prohibited public gatherings and other outdoor activities for a long time, which severely brought the entire nation’s economy to a halt.

During these periods of lockdowns, the operations in ports became slower. Not all employees at the port are allowed to work outside, limiting the movement of the cargoes. Moreover, some factories temporarily closed their facilities, leaving massive numbers of containers stuck at the port. These problems prompted the shipping lines to avoid further loss of income by reducing the vessels they use in transportation.

China, the world’s leading exporter of goods since 2009, managed to control the infection rate of the COVID-19 earlier than most countries. Starting in the month of July, China is slowly regaining its economic activities, reopening its factories that encouraged many businesses to rely on China-made products.

The shipping lines with a limited number of vessels weren’t able to transport all the products from China, let alone carry empty containers. This sudden surge in the volume of exports created an imbalance in the current capabilities of shipping carriers in transporting products to countries that are still recuperating from the pandemic.

Another reason for container imbalance lies in decreased manpower. The containers used today for shipping purposes normally undergo a lengthy process before it can be emptied and returned to the port. Shipping containers are often loaded on a truck and sent to faraway places to deliver their contents. The loss of port employees also means that there will be a shortage of drivers, which will take the containers at least a week to be returned.

With China as the center of the world’s exports during the pandemic, the demands coming from other countries will gradually increase during the holidays. This means that the container imbalance might linger until next year or at least a few months after the pandemic finally subside.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Sources:

5 Tips before Selecting Your Shipping Carrier

excelsior on November 16, 2020

Shipping Carrier

Managing a business where you have to deal with international clients is not an easy task, especially if you sell products that are in need of some logistical aid. Ensuring that your products will successfully arrive from point A to point B is crucial to maintain a stable supply chain, high customer satisfaction, which ultimately leads to more profit despite the ongoing pandemic.

Choosing a carrier is one of the most crucial factors when it comes to shipping your products. It can be a challenging decision to make since your daily operations will have to adjust to any situation that involves the shipping carrier.

For a start, you have to pay attention to your company’s purpose and capacity to avail the service of a shipping carrier. But of course, there are other things that you can do so that it will be easier for you to find the most appropriate shipping carrier for your business as fast as possible.

Here are five things you should remember before selecting your shipping carrier:

FACTORS TO CONSIDER:

The nature of your business

You have to grasp the specifics of which particular shipping services you need. Find potential carriers that offer the services you’re looking for and see if all of them can handle your shipping needs. If there is a necessity for your products to be transported via different carriers, it could cost you more money in the long run. Try to go for a carrier that offers multiple shipping services.

The experience of the Shipping Carrier

Take some time to research your potential shipping carriers. Find out more about how long they have been in business or whether they have adequate resources to sustain their operations, such as a fleet of trucks and trailers. Owning a warehouse that is stable and reliable is another plus point.

Pricing

The outcome of most business transactions, especially when negotiating with shipping carriers, often relies on the agreed price of both parties. Have a word with any potential carrier and ask if they can provide you competitive rates that are on par with the quality of their service/s.

Discussing the Safety of their Services

Safety must also be a primary topic that you can bring up with any of your carrier prospects. It is essential not to overlook the low price only to discover that your chosen carrier has a high accident rate and rule-breaking records. It would be a wise decision to deal with a carrier that gives you a slightly higher price in exchange for the assurance that they can ensure the timely and safe arrival of your goods. If such a carrier has an excellent safety rating among its former clients, then you are good to go.

The Benefits of Partnering with a Freight Forwarder

Freight forwarders in the Philippines can be an individual or an agency that can handle some of the most time-consuming logistics tasks for your business. One of these tasks is negotiating with the right shipping carrier that can benefit your business. They can also take care of all types of documentation, clear other shipping related requirements, and track your goods as they arrive at their destination.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

Sources:

https://blog.bisontransport.com/8-tips-for-choosing-the-right-carrier

https://www.energytribune.com/the-advantages-of-hiring-a-freight-forwarder/

Things to Consider Before Engaging in International Shipping-Infographic

excelsior on October 30, 2020

So, you finally started your own business. You managed to find suppliers for your products, gain some brand awareness to attract customers, and you are sure that you are earning a considerable return on investment or ROI. You finally considered to further expand your business by reaching potential markets from other places. This is where you realized that engaging in international shipping is indeed possible.

If ever you come across such thoughts before, here are some of the things to be aware of before taking a big step into the world of international shipping:

Identifying the Countries to Ship Your Products

Finding international locations where you can sell your products can be a crucial and tricky task at the same time. The following tips will help you narrow down which countries should you ship your products to:

  • Look for countries with customer demographics that are similar to your local market.
  • Make sure that your target countries speak a language that you familiar with, and since English iswidelyconsidered as the universal language, going for countries with speakers that are conversant with the English language can be an advantage.
  • Figure whether the countries on your list have an existing demand for what products you can offer.

Familiarize Yourself with the Rules of Regulations

Shipping rules and regulations may vary from country to country, so make sure to do research.  Try to figure out the list of items that are either prohibited or restricted to a specific country where you think you can gain some customers. Knowing some information about the location of your target markets and their existing laws will increase your chances of getting better deals and a seamless shipping process.

What Products Should You Try for Shipping?

The most ideal products to be shipped in cross-country trade are:

  • Smaller and lighter items for lowering downs shipping costs
  • Popular products that can be sold on an international scale
  • Products that can be shipped for longer periods of time.
  • Products that can be easier to package.

Expect Additional Duties and Taxes

International shipping might be a tempting venture for your business, but it will require you to be ready to take new duties and some extra expenses if you wanted to be successful. Learn more about how to deal with customs authorities and taxes-related of some countries that might affect the cost of shipping your products. Another essential thing to consider is introducing new payment processes for making business transactions with international clients more convenient.

Hire a Freight Forwarding Agency

Freight forwarders can offer their services to business owners like you who are trying to enter international trade. These people are skilled in handling logistic networks so that you can have a hassle-free and cheaper shipping process. Partnering with a freight forwarder is basically the best option as they can bear most of the tasks associated with international shipping. They always ensure that your products will go from point A to point B while you focus on other important aspects of your business.

 

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

 

Sources:

https://www.storeautomator.com/prepare-your-business-for-international-shipping/

https://shippingeasy.com/resources/preparing-international-shipping-shipping-platform/

What You Need to Know When Handling Packages During the Pandemic

excelsior on September 30, 2020

The role of transportation in business has become even more evident during the spread of the pandemic. Since most people are afraid of getting infected by the COVID-19 virus, they tend to spend a lot of time indoors. While several countries like the Philippines are currently experiencing all the negative repercussions of such a crisis, there is still a high demand for different sorts of products, especially those that can be purchased online.

Making business transactions using your device and waiting for your products to arrive at your doorstep is a better idea than rushing to nearby grocery stores and malls. Surely enough, buying stuff on the internet is the safer option than exposing yourself to large crowds. However, it doesn’t eliminate the risk of you getting the virus – the packages you regularly receive have been moved and touched by several people. Now, the question remains unanswered among many consumers: what are the precautionary measures that must be applied when handling packages that they brought online?

COVID-19 from Packages

According to information from the Center for Disease and Control Prevention (CDC), the type of novel coronavirus that leads to COVID-19 can survive on surfaces of any form of materials for days. Based on an article published in Wirecutter, a study has been conducted to test the lifespan of the virus, suggesting that it can survive on cardboard for up to 24 hours.

CDC also stated that the virus has a low risk of infecting more people because packages normally undergo a long shipping process, which can take days or even weeks. The virus that’s been potentially infesting the package might have already died before it can even be brought to anyone’s home.

Handling Packages during the Pandemic

Experts in the field of virology already stressed the main reasons for how COVID-19 can be transmitted from one person to another – through respiratory droplets. There is still the possibility of contracting the virus by engaging physical contact with an infected surface, but there is little to no evidence to support this claim.

Given all the collective knowledge that we have on the virus’s behavior, CDC continues to recommend the public that the best way of preventing the spread of the disease is by washing your hands regularly and observing physical distancing with other people. There’s no harm in spraying disinfectants on your packages, but always ensure your hands are sanitized after touching the products. You can also be more cautious by taking the items you need and disposing of the parcel right away.

Keep in mind the other things you come in contact with upon touching the package, such as your doorknob, table drawers, etc. You have to consider sanitizing them as well to minimize your risks of infection further.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

 

Sources:

The Future of Supply Chain Management

excelsior on September 15, 2020

Worldwide Freight Logistics

According to investopedia.com, supply chain management refers to the practice of organizing the flow of goods and services which also involves the processes of transforming raw materials into final products. Many businesses today, especially those who wanted to streamline their profits, focus a lot on supply chain management every time they set their eyes on a new potential target market.

Supply chain management can also be helpful in gaining a competitive advantage when it comes to maximizing customer value. Despite the lack of customers and other competitors due to the pandemic, it’s also essential for enterprises to elevate their supply management strategies through the use of modern technology.

This article will provide a sneak peek on some of the popular tools that can dominate the supply chain management methods and techniques in the near future:

  1. Automation

In the past decades, keeping the stability of the supply chain had been made possible with the help of manual collection, analysis, and tracking of specific data, as well as inventory and invoices. But with the continuous integration of automation in the world of commerce, it’s most likely that every menial task that was once crucial for supply chain management will be replaced with more efficient automated systems that will make the job easier. Examples include radio-frequency identification (RFID) and transport management system (TMS).

  1. Security Systems

Privacy protection is becoming more of a big deal for businesses that rely on digitalization. Software developers are on the verge of creating new platforms and tools for tracking and managing the route of cargo without compromising other important aspects, such as the accuracy and speed of product transportation.

  1. Unmanned Aerial Vehicles or UAVs

Formerly known as a popular idea for science-fiction films and literature, unmanned aerial vehicles are now gaining more recognition as one of the future technologies that will greatly benefit many businesses. At the moment, UAVs are used to aid logisticians in managing trailer yards and warehouses, which can provide a more detailed view of its contents from above. UAVs are expected to be major mechanisms in future supply chain management solutions, especially in surveying the condition of warehouses, as well as keeping eyes on remote areas.

  1. Artificial Intelligence or AI

The rise of AI might lead to reducing the need for manual processes in the field of supply chain management. Artificial Intelligence can significantly help in providing accurate analysis of data that can lead to businesses capable of identifying flaws in their operations and coming up with a highly efficient solution in addressing most issues.

  1. Advanced Analytics

Highly correlated with the use of artificial intelligence, advanced analytics also require The Internet of Things (IoT) in streamlining supply chain management. This will make a vast amount of data produced by daily business operations more organized and structured. From customer insights to the network of carriers, businesses can have access to information that can guide them to make better decisions and become more responsive to the challenges that they regularly face.

Excelsior Worldwide Freight Logistics conducts free orientation for those who are willing to learn. It is our advocacy to share our knowledge & experience worth more than a decade in the business. Visit our website today at www.excelsior.ph to learn more about our service.

 

Sources:

https://www.universalcargo.com/5-ways-technology-will-simplify-supply-chain-management/

https://www.investopedia.com/terms/s/scm.asp

Excelsior Worldwide Logistics Corp.