Posts

6 Best Practices to Tackle Supply Chain Security Threats

-
Image
How do you combat these concerns? Let’s consider six measures you can use. Supply Chain Security Strategy Assessments The first step to addressing supply chain security issues is to take a look at the strategy you’re already using. When judging your supply chain security, consider these factors: 1. Industry standards and government rules 2. Your business’s security risk qualification 3. Current and future programs 4. The quality of your education and training. In the end, regular assessments are crucial to help you improve how your group manages problems. Vulnerability Mitigation and Penetration Testing You can catch low-level security vulnerabilities early through penetration testing and scans. Also, you can use the outcome of your tests to fix issues, such as: a) Repairing vulnerable database configurations b) Updating poor password policies c) Securing networks and endpoints. These quick wins will reduce your risk exposure without making your work less productive or adding downtime.
Read more

5 Global Supply Chain Security Concerns in 2021

-
Image
Faced with the new world of remote systems and greater reliance on cloud computing, companies must think carefully about their business processes. Remote systems impact many core aspects of their existing supply chain security management, including: Data protection Data locality Fraud prevention Data governance Third-party risk. Data Protection for Supply Chain Security It can be hard to do two things at once. You need to keep your data connected because you need data workflows to run a successful business. At the same time, protecting your data from breaches and attacks is an ongoing challenge. Data protection is vital in finance and health care, and it’s under increasing threat in the growing e-commerce industry due to the rapid growth in the past year. Global e-commerce sales will reach $4.5 trillion this year and top $969 billion in the U.S. alone by 2023. With so much on the line, attackers and bad actors have plenty of incentive to launch attacks. Local Rules for Data Supply ch
Read more

The Beirut port explosion. What went wrong?

-
Image
Recently, a massive explosion took place at the Port of Beirut, Lebanon that caused the death of almost 200 people and more than 5000 people were injured. The port explosion had also rocked the entire City of Beirut to as far as 9 kilometers in distance. The explosion in the port had came from the port warehouse where about 2750 tonnes of ammonium nitrate were found to have been stored there since 2014, when a Russian vessel, MV Rhosus destined to Mozambique stopped at the port due to financial constraint of the vessel's owner which had resulted to a mutiny among the crews onboard. The vessel was then detained by the port authorities for operation violation, unpaid port fees and many complaints by the Russian and Ukrainian crews over their unpaid salaries and shortage of supplies. The sailing to its original destination was never resume since.  As the result, the cargos on the vessel, including that of the 2750 tonnes of ammonium nitrate which was considered a Dangerous Cargo (DG)
Read more

Outbound Cargo Rates Soar as Covid-19 Slashes Airfreight Capacity

-
Image
This article first appeared in the Business Times on 2 March 2020. Outbound freight rates are skyrocketing on the back of weeks-long labour shortage and disruptions to logistics links that continue to dog operations in China, although there is still international air and ocean capacity, albeit much reduced from before, according to industry players. This is set to catch on in airfreight sectors elsewhere too as the coronavirus spreads through Europe and potentially Latin America and the African subcontinent, warned Raymon Krishnan, president of The Logistics and Supply Chain Management Society. Reduced airfreight capacities have resulted in rates “going through the roof” with rates doubling or tripling for flights leaving China, said Dr Krishnan. “I also just heard that some are paying up to six times the regular rates.” The situation is also worsened by the cancellation of thousands of passenger flights to and from mainland China, resulting in the reduction in belly capacity for ca
Read more

Top Warehouse KPIs to Succeed in 2020

-
Image
Key performance indicators (KPIs) provide an invaluable way to judge the efficacy of operations, determine opportunities for improvement, improve customer experiences , and better manage supply chain functions, including warehouse management.  Supply chain leaders that wish to remain proactive to risks of disruption and improve operations through 2020 and beyond need to understand the top warehouse KPIs and how they can mean the difference between success and failure. This blog is the first in a two-part series where Veridian, a supply chain technology implementation company, will share the top 19 warehouse KPIs that track performance in the following areas: 1. Internal Operations 2. Staffing 3. Suppliers 4. Customers Let’s cover the top 10 warehouse KPIs for supply chain leaders and warehouse managers to succeed in 2020. (1) Internal Operations—Shrinkage of Inventory: Inventory shrinkage refers to the amount of inventory listed in the accounting records, but such inventory is
Read more

Why logistics is a perfect industry for millennials?

-
Image
With the millennial generation increasingly joining the workforce, industries are tailoring their businesses to the young, technology-driven generation. At least one area employer would like to present the logistics industry for millennials' consideration. “The demographics have been changing in the workforce, from the statistics I've seen,” said Jim Handoush, CEO of Network FOB, a third-party logistics firm . “By 2030, the majority of the workforce will be 18 to 30 years old. It's an entrepreneurial business, and millennials want to be entrepreneurs.” Somewhat abstractly, the way logistics companies operate can be appealing to younger generations, Handoush said. Logistics provides not only day-to-day variety but also variety throughout the day. Because there's the characterization that the younger generation needs instant gratification, logistics can be ideal. “While working in the operations environment, you're moving a shipment from A to B,” he said. “A lot of
Read more

How the Logistics Industry Can Conquer the Generation Gap

-
Image
How do you solve a problem like Maria (or Mike) the millennial? There’s no need to elaborate here on the well-publicized complaints about employees from Generation Y, the term commonly used to refer to those born between 1984 and 1996. A quick explore on Google will uncover a treasure trove of generation-gap-inspired bellyaching. Generation Z (born after 1997), just beginning to enter the workforce, is now facing its own list of complaints. More worthy of discussion is what are the potential consequences of failing to solve the problems associated with hiring, training and retaining Gen Xers and Zers, and how we actually go about fixing those problems, especially in the logistics industry. Overall unemployment in the U.S. currently stands at 3.9 percent, and the Bureau of Labor Statistics typically records an even lower rate in the transportation and warehousing sector. Every day brings more news of the truck driver shortage, as well as short-handedness in the warehouse. Worse, ther
Read more