Being a freight broker requires a lot of focus. There’s so much to do to be successful that compliance with regulations and rules can easily slip out of view.
Forwarders play an important role in obtaining space on airplanes or ocean vessels at the best rate possible for shippers. Long known as a relationship business, much of the forwarders' business traditionally was done by phone, fax machine or in person. Real-time tracking and management of shipments was non-existent, transparent invoices did not exist and neither did electronic document submission. Until now – today thanks to technology and start-ups, the freight forwarding market is changing. -Cathy Morrow Roberson, Founder/Head Analyst, Logistics Trends & Insights LLC
Blockchain, the technology underlying bitcoin, has some challenges to overcome. But the potential applications are so compelling, supply chain managers should quickly learn more about it and begin to conceptualize how it can be applied to their businesses.
Managing complexity has become a priority for modern-day logistics and supply chain leaders. For many enterprises, however, reliance on cumbersome legacy systems keeps them chained to the costly ways of the past.
Overall, 2017 was a good year for the ocean shipping industry. Operating margins for most carriers improved, driven by robust demand, positive inventory developments and higher rate levels.
