Every shipping organization today is exploring a better approach to managing trade execution. Digital transformation is no longer just a nice-to-have but table stakes – moreso given the G7 mandate to digitize. This guide helps your team navigate long-standing debate of whether to build software in-house versus buying software for trade execution.
Updating technology will be critical for managing trade execution successfully in the future. As you evaluate systems, here are 4 critical categories for benchmarking technologies, followed by a list of minimum functionalities to increase efficiency and effectiveness.
In a survey conducted with top local, regional and national trucking organizations, HTA and TradeLanes uncovered that costs and disruption arising from detention & demurrage (D&D) are threatening the nation’s intermodal carriers with more than half reporting critical negative effects on their business.
The key to effective trade execution is delivering to all of your business goals - including minimizing risk, increasing quality, managing COGS, accelerating transactions, and optimizing customer satisfaction, among other goals. Executing all of the contract terms flawlessly is an essential step.
Global trade is multi-variate, complex, and every changing. Producers, merchants, and traders that want to compete effectively in the future will need to rely on technology - to overcome the complexities of trade execution that are holding them back - and for agility, decision making support, and speed. TradeLanes outlines a new approach for how companies can use technology to win – one that is driven by data and machine intelligence and centered on getting cargo delivered faster and at higher margin, even in the face of disruption.
In a survey conducted with hundreds of the top US agricultural exporters, we uncovered that ERD changes are wreaking havoc on logistics teams and hitting the bottom line of agricultural exporters across the US hard. In fact, 92% of respondents want to jointly pursue industry action to redress this issue.