In the current international business environment, heightened customer expectations impact every part of the supply chain. At the same time, next-generation delivery and logistics management solutions are making global supply chains smarter, faster, more customer centric, and sustainable. Here are six trends to pay attention to in the world of global supply chain management for 2020 and beyond.

1. Using green logistics to cut costs and win customers

Logistics companies are integrating sustainability efforts into their overall strategy, motivated by keeping the environment “Green” and eliminating pollution. The trend is often referred to as “Green Logistics”. This will not only help the environment, but also it will enhance corporate reputations, lower supply chain costs and most importantly increase customer loyalty.

2. Supply chain integration an increasing focus for large companies

The enhancement and improvement of technology has played a major role in changing supply chain processes. Recently, top ocean carriers have started trying to move increasing numbers of documents through online processes, with the goal of streamlining the entire supply chain.

Maersk and DAMCO are two of the world’s leaders in moving containers, and their idea is to double down on the logistics processes with higher integration of inland services. This will help shippers to route their transportation at reduced cost, as the two companies have planned to connect sea and land, beyond the port of call. Alongside that initiative, digitization plays a huge role for them as it helps them to access to real-time data and information, create more agile and efficient processes and operations and more importantly, develop a more flexible “Elastic Logistics” strategy.

3. Is TradeLens technology the tool of the future?

A lack of visibility and transparency affects end to end supply chains negatively. Professionals are now trying to minimize risk and get the results for the whole process in one go!

TradeLens is a new software powered by blockchain technology, which will support global trade as a possible single platform to track the end-to-end shipping journey, making the entire process more transparent. Carriers, major shipping lines, ports, 3PLs, freight forwarders and other shipping and logistics players would all share and use the one single portal to update their customer.

Though it’s going to help for tracking freight, continued access to and use of the information is crucial. While streamlining the inventory management and improving the asset utilization is important factor for logistics, it’s important to keep an eye out for any downsides for customers and the industry as a whole from continued adoption and usage of this tool.

4. The hidden costs of taking humans out of the equation

While many companies are moving to an increasingly digital workflow to reduce costs, in my opinion going digital is itself a big cost as investing in technology would be. While it will be beneficial at some point, investing in infrastructure and training humans will help to increase the productivity of supply chain and eliminate the additional cost of maintenance.

This lack of infrastructure and service can lead to rising costs. Several carrier charges double the money for a simple local delivery, and include high fuel rates and excessive bunker charges. All 3PL try to minimize the cost and work efficiently, but due to high amount of load and issues, even 3PL are helpless and clueless when it comes to booking the carrier for the load. They tend to charge high and here company tries to utilize its all the resources book the lowest carrier on time.

Investing in infrastructure and delivery options will ease this, and is leading to exploration of alternatives to traditional delivery. For instance, drones have started playing a huge role in the supply chain industry. This would highly impact the trucking industry, as drones could be the future for delivering goods.

5. Increasing numbers of partnerships to reduce logistics costs

The aim of any company’s logistics strategy is to minimize the freight cost and provide highly efficient service. Partnerships will often not only help to reduce the costs, but also minimize the risks associated with shipping cargo. In some cases, an effective partnership can also decrease delays in delivery and enhance customer value and satisfaction.

In international markets, companies are trying to find partners that use innovative digital solutions which will help them to seek new opportunities. Increasing forecast accuracy, reducing inventories by using JIT (just in time) system, gaining new, more accurate delivery ETA estimates and decreasing the amount of required administrative work are a few of the crucial areas businesses aim to address through partnerships.

6. Will tariffs reduce business competition?

New trade disputes are impacting operations as well. Due to Trump’s new tariff policies, B2B and B2C supply chains alike are greatly affected. Retailers are worried about the how rising tariffs will escalate prices and reduce consumer demand. In some instances, this could leave fewer businesses still able to compete and may even result in a monopoly in particular industries.

The post 6 global supply chain trends to watch in 2020 and beyond appeared first on Trade Ready.

In January’s Consumer Electronics Show in Las Vegas, we saw a considerable amount of new tech items launched and introduced to the public. While most were upgrades of existing technology and devices (smartphones, smart TVs, and other consumer electronics), there were some that really drew our attention.

Even if it’s hard to judge if a new product or piece of tech is a trailblazing idea, there were innovations that really aimed to change our perspective. We saw common products injected with internet connectivity and capability, becoming “smarter” by being able to provide additional information on top of the usual tasks they’re expected to do. Add in a certain level of automation and you get everyday items actively gathering data from their environments, and possibly adjusting their performance to match the needs of the people using them.

Improving common household items through the “Internet of Things” concept also opens up new possibilities for businesses. Small improvements such as activity and location tracking, data gathering, and automated sending all have the possibility to change the way businesses interact with and sell to their customers.

Interconnected devices and household items will work together to make your day

Now that IoT is becoming increasingly well-known, we’re exploring ways to make the most of these connected “household” things. Initially, we’re able to connect one thing to the web, and are already amazed with all the added functionalities we can get from it.

For example, by connecting your fridge to the Internet, you’re able to wirelessly check its contents, create a shopping list based on your current inventory, or even count the calories of whatever is in there. The common telephone, when connected to the Internet, improves it drastically. It paved the way for affordable global communications used by enterprises.

Amazingly, we’re already moving past that phase to a new level of IoT development. We now know that if we “inject” a bit of internet connectivity into a common household item, we’ll be able to discover new uses from it.

Now, we’re starting to string together these interconnected items and create a life-altering experience.

We’ll be able to look at things differently and see if these things can redefine some of the most mundane chores that are currently part of everyday life.

If we look at the bigger picture, this interconnectedness of common household items can prove useful for big businesses. We could see multiple devices from one maker, all working together to provide a better experience for the users.

For example, Nokia is venturing into health tech in the form of sleep tracking. Their aim is to give users insight into their nighttime habits. Their product, Nokia Sleep, is an internet-connected pad placed under the mattress to track your movement, brain activity, and other data to analyze your sleeping patterns. What they aim to learn about is the quality of sleep that you’re getting and gain insight into how they can improve it.

With all the data gathered, Nokia could introduce other products like a lamp/night light, music player, and an automatic recliner which would all be interconnected. All you need to do is sleep, and based on your sleeping patterns, these devices will all work together to provide the best quality of sleep for your specific needs, from selecting the best lighting condition and background music to optimizing your sleeping position. It could even be possible to integrate it with your phone system so that it can filter calls or alerts by importance. This information can then be used to develop or sell new products, increasing the value per customer and overall business performance.

Going back to the fridge example, perhaps grocery stores will be able to send you coupons for products your fridge realizes you’re almost out of, or recommend recipes based on ingredients in your fridge and let you know what final items you need to buy to finish the recipe.

All your household devices will be listening to you, and you’ll probably want them to

The number of smart speakers or voice assistants available in the market today is steadily rising, and this could be proof that we’re warming up to “willingly” connect our homes to the Internet. But having an always-on smart speaker listening to everything you say is just the start of the interconnected future that IoT promises.

Other items, especially the ones we use regularly, will have the capability to “listen” to their users and gather every bit of usable data. Some devices and apps are already gathering audio information to customize ads, and the ability to target and customize to your exact wants and needs will only improve with time.

One example of this is the GoBe 2 smart-life band from Healbe, a California-based maker of fitness wearables. The GoBe 2 is capable of tracking your calorie intake, detect minute changes in your bloodstream, your heart rate, and sleep quality. What makes the GoBe 2 unique is that all of the information gathered will be uploaded to the cloud, to an online portable accessible to your trainers, nutritionists, or wellness coaches.

This takes tracking to a new level, as it gathers data not only for your personal consumption, but for those providing services to you. This way, another pair of eyes will be on the lookout for your health. It also gives them more data to create customized offers or promotions, perhaps for a yoga class to help you relax or a vitamin to supplement your nutritional plan, which should benefit you as a customer as well.

If we magnify this and apply it to all businesses, this presents a massive opportunity to properly learn about your customers.

Makers of “smart” devices can gather data from their products in order to learn about specific habits of their users, which can then be re-used in many ways. Ideally, the data gathered will be used to benefit the users and not the company, though there will be countless opportunities where both will benefit.

With IoT, the world is changing before our eyes – are you ready?

The concept of IoT is slowly opening our eyes to a world of interconnectivity. It’s not just about our computers and communication devices, because even the humble toaster sitting in the kitchen can be made “smarter.”

What matters is how open-minded we are to these changes, because our willingness to use them and be tracked by them will make or break IoT. And if we look at the bigger picture, the evolving concept of IoT can also shape the way we do business, as it opens us up to new products and services and changes the ways businesses and their customers interact on an everyday basis.

How do you feel about the increasing use of IoT – are you more excited about its potential for connection and convenience, or concerned about data and information privacy issues? Let us know in the comments below.

The post How the Internet of Things (IoT) is revolutionizing the business-customer relationship appeared first on Trade Ready.

As members of this constantly growing international trade community, you’ve probably seen a lot of things happening at FITT over this past year.

We’re so grateful for your crucial role in making all of those things happen, because without you, none of it would have been possible.

It’s been exciting to see your passion and expertise shine through in so many ways, including our monthly #TradeElite Twitter chats, discussions of important trade issues on LinkedIn, Facebook, Twitter and TradeEliteClub, and as contributors on our TradeReady.ca blog.

In the spirit of reflection and celebration that the holiday season and New Year bring, we’d like to take this opportunity to give thanks for everything we’ve been able to achieve together in 2015, and give you a sneak peek of what we’re most excited about for the year ahead.

Jessica Thornhill – Coordinator, Products and Services:

One of the things I’m proudest of from the past year was the team effort that culminated with the successful launch of our new online course platform.

There are many new features and resources that will be helpful to those taking FITTskills online courses, and we’re excited to hear how our current students are enjoying the experience so far.

In the coming year I’m looking forward to working with the growing number of educational partners in countries all over the world.

We already have partners delivering our courses in Colombia, Malaysia, Romania and the UK, and recently offered a two-week training session in Indonesia.

I can’t wait to keep adding to that list in the future.

Ewan Roy – Content Marketing Specialist:

One of my favourite things from the past year has been our #TradeElite Twitter chats. It’s been a pleasure to help organize the chats and work with so many talented participants who are experts in their field.

It’s been amazing to see everything they have had to say on the various topics we’ve covered, from IP protection and freight forwarding, to market entry strategies and the TPP.

Next year, I’m looking forward to continuing to connect with our various CITP®|FIBP® designation holders to write Spotlight features of their careers and accomplishments for TradeReady.ca.

Seeing the many different ways import export professionals got started in the industry, and hearing the amazing things they’ve done during their careers, is always fun and a great way to help professionals celebrate earning their elite designation.

Caroline Tompkins – President and CEO:

We were thrilled that Global Affairs Canada (GAC) officially adopted FITTskills training as part of the career path for all Trade Commissioners in 2015, and then extended this to locally engaged staff.

This, combined with our continued long-standing strategic partnership with Export Development Canada (EDC) and our research project with Employment and Social Development Canada (ESDC), is representative of the importance the Canadian government places on building the capacity of international trade practitioners.

On a more personal note, I’ve also been very pleased with the excellent work of the entire FITT team, from our staff to our Board of Directors.

2016 will be a big year of planning for us, as we’re currently putting together plans to celebrate FITT’s 25th anniversary in 2017, and developing everything related to our strategic plan from 2017-2020.

We’ll also be focused on enhancing the awareness of the value that FITT’s CITP®|FIBP® designation holders bring to the international business community, and the importance of the designation for anyone working in import export as a whole.

Silvia Baptista – Manager, Products and Services:

Working with an increasing number of international clients has been one of the high points of 2015 for me.

The number of professionals with their elite CITP®|FIBP® designation in the U.S. and elsewhere around the world continues to rise, and we now have educational partners in four different continents.

Next year, launching our International Trade Competency Framework will be gratifying, as we feel it’s going to provide international business practitioners with a practical, relevant model to define all of the skills they need to succeed globally.

The implications for the project in education, hiring, business development, professional growth and a number of other areas are far reaching, and I’m looking forward to seeing how those develop.

Pamela Hyatt – Content Marketing Specialist:

Launching our new website, FITTforTrade.com, was a true highlight for all of us at FITT. It allowed us to bring the website into the future with a dynamic new design, easier navigation and new resources.

We hope you’ve all had the chance to discover the new look and features, and we’re always happy to hear feedback and suggestions.

In 2016, I’m looking forward to bringing even more exciting new people and content into FITT’s community through our blog, TradeReady.ca, as well as on social media at tradeeliteclub.com, and the monthly #TradeElite Twitter chats.

We’re working on some fun new ideas right now, and we’re always thrilled to collaborate with talented international trade professionals like yourselves.

If you’re interested in contributing an article or collaborating with us in any way, we want to hear from you!

Joan Desautels – Finance Manager:

I’m very pleased with the progress we’ve made on our technical integration project over the past year, with our new website and CRM, CMS and LMS systems, and with the energy and enthusiasm that our FITT team brings to the table.

In 2016, I am looking forward to all of the new opportunities and challenges that come with the continued growth and innovation of the FITT organization.

Connie Brigham – Coordinator, Products and Services:

It was wonderful to play an important role in organizing our International Competency Standards focus groups and validation sessions, as well as to personally attend the focus group in Vancouver, and validation session in Ottawa.

I got to meet several of our CITP®|FIBP®s, and many of those relationships are ongoing as we continue to collaborate with the Content Advisory Panel.

Being out in the field and understanding the details of what our international trade experts do, and how proud they are to contribute to the project was a great experience, as was witnessing the discussion and seeing the ideas unfold.

We’re very excited about the progress being made on the 7th edition of FITTskills over the next year.

Along with our new course platform, I think it’s going to create a fantastic client experience that’s very user-friendly and helpful for achieving career goals.

Alex Barankevych – Digital Marketing Specialist:

I’m a brand new member of the FITT team, taking on the role of Digital Marketing Specialist on December 7. I’m proud to have joined this company and am enjoying getting started in my new position.

I’ve got a lot of new ideas for FITT that I’m working on right now, and 2016 will give me the opportunity to start putting those into place and measure their success.

Creating more content geared towards answering the specific questions and needs for professionals in the import export industry is a major goal for the upcoming year. I’m looking forward to working together with the FITT team to provide content that will be helpful and practical in your everyday work.

Thank you for being an important member of the FITT community, and we wish you all the very best for a Happy Holiday and a prosperous New Year.

Cheers from all of us at FITT!

The post FITT’s launching into an exciting 2016, but first, let’s celebrate you! appeared first on Trade Ready.