Global freight management made easy
SPECIAL ADVERTISING SECTION
TECHNOLOGY : PLANNING AND PROCUREMENT
Accurate data comes from automation , Dunsmore added , noting that automating data input reduces the chances of human error significantly .
Machine learning is proving transformational in the planning and procurement space . For instance , when a data error occurs , machine learning can automatically identify and correct it , always learning from past patterns to prevent similar errors in the future .
“ It ’ s a continuous process ,” Dunsmore said . “ That ’ s the power of AI , and there ’ s little expense associated with doing it . Once it ’ s done once , it just keeps learning . AI learns more than just what you ’ re asking it to learn .”
Looking ahead , shippers must prepare for several regulatory and market trends , including stricter sourcing compliance requirements , potential labor disputes and the probability of additional US tariffs on imports .
Historically , shippers negotiated long-term contracts with transportation providers across all modes — whether parcel , air , ocean , truckload or less than truckload . The COVID-19 pandemic , however , caused enduring capacity volatility and led carriers to favor shorter agreements , often lasting only three months instead of the once-common multiyear terms .
To help navigate this unpredictable business environment , nVision Global has launched an auction platform where shippers can issue tenders on which their approved carriers can bid , be it ocean , air or road transport .
For ocean freight , the lead time might be about 10 days . For air freight , it could be 24 hours or less . For truck shipments , same-day service is possible .
“ You can launch an auction in the morning , award the load to a carrier and have them pick it up in the afternoon ,” Dunsmore said .
Managing foreign currency fluctuations is another ongoing challenge for shippers involved in cross-border trade . While international offices may operate in local currencies , corporate headquarters often need financial data converted to US dollars for consistent reporting . A sophisticated transportation management system helps manage these fluctuations , providing a more accurate financial overview .
In an increasingly complex supply chain landscape , businesses must provide tools and technologies that empower shippers to address challenges and drive growth .
“ The speed to implementation of machine learning creates opportunities ,” Dunsmore said . “ The ability to apply these learned processes to new products and supply chain initiatives can be quite strategic .”
By embracing advanced planning and procurement technologies , shippers can achieve substantial process improvements , enhance collaboration , uphold high data quality standards , maximize automation benefits and navigate evolving regulatory landscapes — all of which are vital to thrive in today ’ s ultracompetitive market .
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Global freight management made easy
As a leading provider of global freight management solutions and services for all modes of transportation in the logistics and supply chain industry , nVision Global has established itself as a trusted partner for businesses seeking to optimize their global transportation operations and improve overall efficiency . nVision Global specializes in freight audit and payment , order management , supplier management , visibility , TMS , and freight spend analytics . This comprehensive suite of solutions enables businesses to gain visibility into their logistics processes , reduce costs , mitigate risks and make data-driven decisions .
One of nVision Global ’ s core offerings is its freight audit and payment services . By leveraging advanced technology and industry expertise , the company ensures accurate and timely auditing of freight invoices , identifies billing errors or discrepancies , and helps businesses recover overcharges . This service not only saves companies significant time and effort but also enhances financial control and improves cash flow .
In addition to freight audit and payment , nVision Global ’ s transportation management system , Impact TMS , provides end-toend visibility and control over the entire transportation life cycle . Their TMS solutions streamline operations , automate processes , optimize routing and carrier selection , and provide real-time tracking and reporting capabilities . This enables businesses to optimize their logistics operations , improve service levels and enhance customer satisfaction . nVision Global ’ s business intelligence solutions offer powerful analytics and reporting tools that enable businesses to transform raw transportation data into actionable insights . By consolidating and analyzing vast amounts of data , clients can identify trends , measure performance and make informed decisions to drive operational improvements and cost savings .
With a customer-centric approach , nVision Global has built a strong reputation for delivering innovative solutions that address the complex challenges of the logistics industry . The company ’ s commitment to technology , expertise and customer satisfaction has positioned it as a leading global partner for businesses seeking to optimize their supply chain and transportation operations . n
44 Journal of Commerce | December 2 , 2024 www . joc . com