The post <strong>3 ways that the metaverse could transform supply chains</strong> appeared first on Sprint Logistics.
]]>The metaverse has arrived. It promises to touch every aspect of our lives, transforming how we interact with each other and how we conduct business, integrating virtual and physical reality into a seamless, immersive experience.
With 66% of supply chain management executives reporting that the metaverse will have a positive impact on their organisation, it’s more crucial than ever for businesses to understand the scope of its possible impact and benefits.
There are 3 major ways the metaverse could revolutionise supply chains:
1 – The transformation of supply and demand – The metaverse could dramatically improve visibility into facilities, processes, capacity and inventory, thereby alleviating supply restrictions. This is especially beneficial in times of significant supply chain disruption, the likes of which we faced the past few years.
The metaverse would allow for a clear and thorough understanding of customer demand, giving insights from the supply side as well as the demand side, harmonising the relationship.
For example, retailers and suppliers could meet in a virtual room to discuss sales forecasts, production projections and potential supplier limitations that could impact manufacturing capacity.
Through an immersive supply chain network map, they’d be able to identify inventory levels at various locations, take virtual walkthrough ports to locate possible shipping delays due to bottlenecks and model alternatives to keep products flowing and customers satisfied.
2 – Programmable possibilities – One of the great promises of the metaverse is that it will enable people to create their environments to work for their specific needs, thus achieving perfect integration between digital and physical navigation.
Picture a product container that through edge computing is “aware” of its inventory status and location. It could automatically generate restocking options or change prices based on customer demand, increasing efficiency, reducing your workload and boosting your margins.
3 – Perfect data – Emerging technologies such as the metaverse require unprecedented computing power to run. Thus, the realisation of this new power alone will give users access to astonishing computational capabilities in the metaverse, allowing supply chain networks to run the analysis with a currently out-of-reach level of granular data.
This will increase accuracy and resilience, reduce cost, improve customer satisfaction and make it easier to achieve sustainability objectives.
The separation between supply chain planning and execution would disappear. You would be able to seamlessly examine the whole supply chain in real-time – from suppliers to the end consumers – to keep supply and demand in perfect balance.
Take control of your supply chain with Sprint Logistics
The metaverse holds infinite potential. Once the technologies mature and become more widely available, the increase in supply chain efficiency and the benefits to logistics are limitless.
In the meantime, Sprint Logistics is here to support your business with innovative logistics solutions to take the worry out of supply chain management and keep your business growing and thriving today and tomorrow.
Sprint Logistics provides a broad range of logistics solutions, custom-built around your business’s needs. From warehousing to fulfilment to freight, we have you covered.
Get in touch with one of our experts today and find out what we can do for your business.
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]]>The post How to limit the impact of inflation on supply chains appeared first on Sprint Logistics.
]]>Notably in the Eurozone, where at the time of writing inflation has reached 8.9% and is expected to continue rising, supply instability, price inflation and logistics disruption are being driven by skyrocketing prices and demand for increasingly scarce goods and labour.
Why is inflation causing supply chain disruption?
Many factors are contributing to rising prices and inflation. Russia’s invasion of Ukraine – the “breadbasket of Europe” – has prevented the export of fuel, fertilizer and grain which, as essential goods for manufacturing and agriculture, has had a knock-on effect for food and beverage companies.
The conflict has also caused disruption in transportation and logistics services as ports are inaccessible and security is heightened, combined with global sanctions on Russia strangling trade worldwide.
The lasting impact of COVID-19, and the change in working patterns to millions of people, is also driving inflation, as shortages of goods such as microchips further delay the manufacture of electronics and new cars, for example.
Finally, “greenflation” is another contributing factor as the world electrifies vehicles, heating and wider infrastructure. This is compounded by the materials shortage as lithium and copper, essential components of batteries, are in short supply and hugely costly.
For the supply chain, the rising cost of fuel, labour shortages and conflict result in severe disruption; the cost of lorries on the road is higher, shipping is costly and experiences delays.
So how can you solve and prevent supply chain disruption due to inflation?
Increase end-to-end visibility
Visibility is key to identifying inefficiencies and issues in your supply chain before they become disruptive. Ensure you’re familiar with every step of your supply chain, including tier 1, 2 and 3 suppliers, and utilise historic data to inform forecasting.
Make short-term fixes
Rising inflation has inspired many supply chain managers to restart price indexation to assess and analyze sales and spending which should be indexed or non-indexed. Another quick fix is to identify cheaper suppliers.
Get flexible
Future-proofing your supply chain by ensuring it is flexible can protect you from future shocks. Identifying back-up suppliers and logistics networks, or even alternative product designs, can all make you more agile and responsive to changes.
Sprint Logistics: 30 years of logistics excellence
Partnering with an expert in logistics can take the hassle out of supply chain management. Sprint Logistics has weathered decades of changing economic landscapes and understands how to ensure goods are kept moving without disruption even in times of crisis.
To find out more about Sprint Logistics and how we can support your business through the current challenges of inflation and supply chain disruption, get in touch today.
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]]>The post How Warehouse Management Software is at the Heart of Logistics appeared first on Sprint Logistics.
]]>What is warehouse management software (WMS)?
A WMS captures, processes, organises and distributes your data to the correct places to ensure that your systems can work effectively and your supply chain can run smoothly. Although cinema has engrained the belief that robots and machines have a life of their own, ultimately they require instruction and maintenance so it’s important to opt for a WMS that suits your business.
On-premises
Although considered a more traditional approach to warehouse management, opting for on-premises software carries certain advantages that modern solutions don’t, including offering users direct control of their operations. This level of control allows for greater customisation of your software, meaning you can tailor it to the exact needs of your organisation. However, this comes with a higher level of responsibility including managing upgrades and integrations in-house, as well as overcoming associated challenges as and when they arise. You might require a dedicated team of IT specialists to do this, leading to additional costs and delays in fixing problems in the event of sickness, holidays or other more pressing internal issues.
Cloud-based
A cloud-based WMS is a good alternative to more traditional methods of warehouse management, with your cloud provider or “host” taking on most of the responsibility of upkeep and problem solving. You are still in charge, but this option means that the machine is doing most of the work for you. A Service License Agreement (SLA) means that you’ll be covered in the event of a malfunction, and if something does go wrong then the cloud will quickly resolve the problem, saving you time and money. This approach to warehouse management still requires IT staff but is easy to up and downscale because it relies on servers, not people, to run.
Software as a Service (SaaS)
By far the easiest option for warehouse management, software as a service, or “SaaS”, does everything for you. From hardware to maintenance to resolving any issues should they arise, your provider will take on all of the responsibilities of managing your systems. This takes the pressure off your IT department and allows you more time to focus on other issues like customer service. With this option, you can scale on demand and be safe in the knowledge that your software is up-to-date and running as efficiently as possible.
What role does automation play in a WMS?
Automation is useful in situations where there is room for human error, for example repetitive tasks, where safety is concerned, or where fast calculations are needed. Automation works best alongside an effective WMS which is why it’s so important to select the right option for your business.
Although it can be tempting to rush in and automate everything, all at once, introducing it slowly will give you time to monitor and measure its impact to ensure it complements your WMS.
Automation and SaaS go hand-in-hand with each other because they’re both standardised – in other words, they are both designed to make operations more efficient, faster and smooth-running.
How can Sprint Logistics help with warehouse management?
As an experienced and trusted logistics provider, Sprint Logistics can help you to optimise your supply chain with well-functioning and effective warehouse management software. If you’re not sure where to start, or which option is best suited to your business then we can support you in making the most of technology available.
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]]>The post The impact of climate change on global supply chains appeared first on Sprint Logistics.
]]>A recent report from the UN warned that global carbon emissions must be reduced by at least 45% between now and 2030 to avoid catastrophic global warming.
The UN scientist report of August 2021, titled Code Red for Humanity, stated that carbon emissions must be reduced by 45 percent over 2010 levels by 2030 for the world to not exceed 1.5°C warming.
Global warming and climate change will affect everyone on the planet, drastically altering how we live and work in years to come. For supply chains, climate change will impact the manufacture of consumer goods, transport between regions and vehicle usage.
To reduce carbon emissions and minimise the impact of transport on the environment, the logistics industry faces a range of challenges. The biggest challenge will be balancing environmentally-friendly logistics, such as reducing vehicle emissions and sourcing sustainable packaging materials, with growing global demand for faster, cheaper e-commerce.
At COP26, the climate summit held in Glasgow, UK in 2021, the Internantional Sustainability Standards Board (ISSB) was announced. The board’s recommendations and requirements for globally consistent climate-related processes and disclosures will be published in the second half of 2022; clearly, the time for change is now.
Bodies like the ISSB and greater awareness of the impact of global warming will enable companies to better understand their impact on climate change – and the impact of climate change on their business.
For supply chain managers, the creation of a sustainable supply chain requires analysis of factors including: waste, carbon emissions, carbon footprints, labour conditions,health and safety, and worker exploitation.
There are numerous ways to make supply chains more sustainable, the efficacy of which will vary from business to business. Here are some lesser-known ways to mitigate high carbon emissions.
Fuel consumption
Beyond electric vehicles and banning idling engines, the way vehicles are driven can have a significant impact on emissions. Safe and Fuel Efficient Driving (SAFED) combines driver behaviours – such as gear shifting – with vehicle adaptations like improved aerodynamics to deliver both cost and carbon reductions.
Dead miles
Even after you’ve reduced fuel consumption, there’s still a potentially huge issue with your haulage fleet: the return journey.
Once your fleet has transported their load to the next stage of the supply chain, they’ll need to return to base to pick up more goods to transport. But when they’re driving back to their starting point, they’re burning fuel, creating carbon emissions, and using time on merely moving from one place to another.
Instead, look into ways to make this return journey more efficient. Perhaps there are materials that they could transport back to their starting point, or perhaps you could hire out your fleet for a portion of their return journey by transporting materials for another company? This would make the return journey more efficient, and also deliver more return on your investment of fuel and time.
A sustainable supply chain
As the world warms, we all have a social and environmental responsibility to limit our impact on the ecosystem and look for more responsible and sustainable ways to operate – without having a negative effect on consumer services.
The right logistics service can adapt to your needs and the needs to your customer, offering bespoke solutions such as sustainable packaging materials, low-carbon transport options and electric last-mile delivery. Sprint Logistics builds custom logistics services around our clients, ensuring that from pick and pack to warehousing and freighting, your logistics is fast, efficient and reliable.
Find out more about our logistics services and see how the right solution could benefit your business.
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]]>The post How digitally transforming your supply chain can help future-proof your business appeared first on Sprint Logistics.
]]>The first step is to examine your current supply chain and identify which links are working and what could be improved. While doing so, it’s essential to ensure you keep in mind your business goals: what – exactly – are you trying to achieve with digitisation?
Start with data; do you collect and generate all the data you need? Are you losing information, or not storing it in a way that makes it accessible and easy to use? For that data, do you then have appropriate analytical capabilities to gain insights into your supply chain? Finally, look at your software and hardware; is it working for you? Where can improvements be made?
Once you understand the strengths and weaknesses of your existing supply chain, you can implement the most effective digitisation strategy and begin to reap the benefits from end-to-end.
Decision making: Machine-learning systems gather and analyse data, enabling supply chain managers to make better-informed decisions and deal more effectively with situations, such as managing a sudden increase in customer orders, based on previous events, average dispatch times, and more.
Automation: Streamlining the supply chain through automation frees up time for staff, so they can focus on more valuable tasks. Automating tasks such as data gathering (e.g. automated S&OP preparation and workflow management) means supply chain professionals don’t have to spend hours on administrative tasks.
Customer engagement: With improved tracking and notifications for parcel progress, keep customers in the loop and offer total transparency to boost loyalty and increase repeat purchases, whilst also giving supply chain managers more control.
Full visibility is needed from end to end on modern supply chains, as the demands of larger partner networks, encompassing warehousing, last-mile delivery and more, require advanced levels of productivity and efficiency. To achieve this, and maintain your competitive edge, digitising the supply chain is essential.
Sprint Logistics offers a range of services that support your digitisation strategy; our online stock control solution offers a personalised ordering system that enables you to monitor stock in real time, while our BOLT marketing logistics and distribution platform puts you in control.
To find out more about digitising your supply chain, contact one of our expert account managers today.
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]]>The post Why cold chain logistics is more important than ever appeared first on Sprint Logistics.
]]>As the pharmaceutical, medical and food industries around the world are increasingly reliant on the cold chain, it’s no surprise cold chain logistics is more important than ever. New technology and logistics processes are enabling faster and more efficient methods of cold chain logistics, but essentially the cold chain is made up of:
Cooling systems: These bring goods to a suitable temperature for processing, storage and transportation.
Cold storage: Whether waiting to be shipped or between processing and distribution, cold storage ensures the product won’t degrade.
Cold transport: Specialist vehicles which transport goods in a temperature- and humidity-controlled environment.
Cold processing and distribution: Expert handling of products prior to last-mile delivery ensuring items are kept sanitary and at an appropriate temperature whilst being packed into crates, pallets and boxes.
One reason why effective cold chain logistics is increasingly important is its ability to minimise waste. Food wastage, particularly in the developing world, is a result of poor food storage and distribution. Investing in an effective, efficient and expert cold chain can minimise waste and food degradation, so less is thrown away and production demand subsequently drops.
The cold chain has also found itself in the spotlight as a result of the COVID-19 global pandemic. Away from the cold transportation that a vaccine will require to reach people around the world, the “new normal” of online deliveries for food and, increasingly, pharmaceuticals, mean cold storage and transport to provide fresh groceries are increasingly in demand.
An effective cold chain relies not just on the right equipment and highly-skilled staff, but also efficient planning; even the smallest delay can have a huge impact on perishable goods. A loss of product quality, or a spoiled shipment, can be costly for both the shipper and the end user.
Sprint Logistics’ expertise in international freight, storage and last-mile delivery enables us to provide smart supply chain solutions to clients around the world. By getting to know your business needs, our expert teams provide solutions that work for you, utilising the latest technology for tracking, monitoring and managing shipments alongside our extensive network of warehouse facilities and distribution centres.
Contact us today to see how Sprint can support your supply chain and logistics processes.
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]]>The post Supply chain disruptions and the need for online stock control appeared first on Sprint Logistics.
]]>While we have got a little more used to longer waiting times for online orders, it doesn’t mean this is a good time to take your foot off the gas. On the contrary, it’s an opportunity to stand out from businesses that are struggling to deliver, develop your ability to resist shocks and enhance your services and reputation, to make sure those customers return.
With the crisis showing little sign of abating anytime soon, we’re likely to keep experiencing more localised lockdowns and therefore more product shortages. As disruptions are likely to be sudden, it’s essential for businesses to be well prepared. Now is the time to build in those contingencies; here are a few things you can do to ensure your stock levels stay on track.
A single outbreak of COVID-19 is defined as two or more cases, and these often result in the closure of an entire production plant. Businesses will therefore want to make sure that if this happens, it doesn’t cut off all supply. Making sure you have more than one source for any specific product will safeguard against this, allowing you to keep delivering at the usual levels. It’s also a good idea if the different sources are geographically distinct, in case a region is placed on localised lockdown.
While you should always have a good idea of your inventory levels, this becomes even more important when your supply chain is disrupted. Keeping track of buying behaviour allows you to also predict it. If you can, it’s a good idea to build profiles for what stock might run out in specific circumstances. With the ability to predict how consumers are buying, you can build up inventory at the first sign of a crisis.
Full visibility of your inventory is crucial, especially if you’re selling through multiple channels. Centralising your stock control will minimise the need for manual tasks, eliminating human error and preventing the overselling of stock, which could be detrimental to your reputation.
Using online stock control has many benefits, as it gives you visibility and control, while synchronising your channels. This will increase productivity and result in greater cost-savings, and free up time for you to focus on growing your business instead of spending it working on spreadsheets.
Partnering with a logistics expert who offers online stock control will give you 24/7 access to monitor stock levels, with instant stock checks and automatic re-ordering across multiple users and channels, ensuring that you never run out of product again.
Even if you take the necessary precautions, disruptions may still happen, so you should have an emergency plan in place. Over the years, businesses have optimised their supply chains, minimising costs and reducing inventories, and now find themselves without much of a buffer to absorb these sudden disruptions.
Creating a stockpile of essential supplies is therefore more timely than ever. You should have a store of goods that can see your business through an extended period of disruption, ideally several months in the worst-case scenario. Third-party logistics providers can help with warehousing solutions, so that you can have an emergency repository of finished goods, components or even raw materials in case your supply chain is temporarily cut off.
Online stock control removes uncertainty and duplication from ordering, and reduces the time you spend on administration. At Sprint Logistics, our international logistics management platform gives you full control and clarity over your stock, with automated pre-alerts to enable faster stock replenishment and a fast, reliable international logistics service.
You’ll also have an improved audit trail for cost control and compliance, and a full disaster recovery protection giving you the ability to remotely control and manage your stock in all eventualities.
Contact us today to find out more about the online stock control solutions we offer.
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]]>The post How Will Brexit Affect Logistics? appeared first on Sprint Logistics.
]]>A hard Brexit would mean the UK leaving both the EU Customs Union and the EU single market, with full control over its borders and the possibility to make free trade agreements on its own. In a soft Brexit scenario, the UK would remain close to the EU single market, with its primary concern to secure tariff-free agreements on goods.
Both scenarios would impact existing supply chains, disrupting EU-UK cross-border trade. It’s widely accepted that the issue of logistical slowdown will be the biggest risk to supply chain management: additional documentation, customs checks and border congestion will frustrate the flow of goods, leading to increased shipping times for both inbound and outbound logistics.
In an online article, SHD Logistics News comments on this potential problem: ‘Whereas before all that was required of a package was a quickfire scan to pass through customs, more time-consuming procedures will be put into effect on each delivery to authenticate them.’ As a result, most shipping lines, port operators and freight forwarders have already begun to create alternatives.
A major concern for the logistics sector is the issue of rising costs, especially that of fuel. The UK relies heavily on imported natural resources, and Brexit could influence price hikes on goods entering the UK from EU countries. Export costs would rise as a consequence and higher costs will have a ripple effect throughout the logistics industry. Logistics firms would most likely pass these increased costs on to their customers.
Another key issue is the right of residency for EU workers in the UK. This is a significant concern for the logistics industry as there is a reliance on experienced foreign workers (reports suggest that around 10% of commercial drivers in the UK are from other EU states). A Brexit deal that restricts EU nationals working in the UK could result in a substantial gap in the workforce. Avoiding a nationwide ‘talent drain’ will be a priority in preserving the ongoing health of the logistics sector.
It’s important to remember that the logistics industry is extremely resilient and has proven in the past that it can adapt to any global challenge. Many commentators highlight the positive potential of Brexit and the opportunity for the UK to establish itself as a global trading nation. The Week reported how Brexit will be ‘a catalyst for a massive change over the next few years in the way that transport works, as well as in the way that our lives will look and feel in the future’.
Uncertainty about labour, for example, has encouraged businesses to examine the potential benefits of using artificial intelligence and digitisation. Supply & Demand Chain Executive magazine suggested: ‘While Brexit represents an unravelling of the political and economic patchwork of Europe, digitisation promises to connect businesses together, reduce trade friction and fuel collaboration and commerce.’ Joining a digital business network can reduce the risks and costs of being outside the EU and the Customs Union.
It’s also important to note that, despite Brexit-related uncertainty, the logistics sector remains broadly positive, with three quarters of logistics companies confident that their businesses will grow over the next three years. Regardless of your political stance on Brexit, your business should be optimistic that the logistics industry will emerge from it strongly.
This is our key advice for minimising the impact of Brexit:
It’s imperative for organisations to have a clear, refreshed picture of inbound and outbound flows.
Companies should actively communicate with their suppliers and review their preparedness for Brexit.
Determine and evaluate the potential of utilising different routes, depots, distribution centres and ports.
Monitor key developments to understand future trade agreements and how they will affect your business.
Sprint Logistics is a global company providing worldwide supply chain, fulfilment, distribution, storage, mass mailing and ecommerce solutions. We pick, pack and ship thousands of parcels around the world every day and we’re committed to ensuring your logistics operations run smoothly, using our expert knowledge and world-class technology.
If you have any concerns over Brexit and how it will affect your company’s logistics and supply chain management, contact us now.
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]]>The post Best Supply Chain Tips appeared first on Sprint Logistics.
]]>Furthermore, there is now an added pressure of developing more sustainable supply chains, with companies looking to new technology to assist them. As Supply Chain Management Review states: ‘In 2020, we will see AI being leveraged to help predict both waste and recycled product levels that will serve as an input to new manufacturing processes.’
Optimising your supply chain is a complex, ever-changing challenge, so we’ve put together some top tips that will bring greater value to your supply chain operations.
Our first and most important tip is never stop finding ways to improve! The job isn’t done once you’ve established a stable supply chain – you need to keep evaluating all the time and looking for ways to innovate. Think about it as a regular health check: make sure performance is still meeting expectations and are within industry norms. Keep identifying cost benefits and remember that every supply chain ‘leaks’ costs somewhere, which you have to find and plug.
Of course, companies running supply chains face huge pressures every day, but it’s essential they need to put aside the time to develop staff. Conceive and implement a robust staff-development strategy that involves formal training, on-the-job coaching, mentoring and work rotation. Regularly assess your employees to make sure they not only understand how processes work, but how those processes impact business. You will be rewarded with a more efficient operation and greater staff loyalty.
Supply chains involve multiple players working on one project and it’s very easy to leave people out the loop. Keep in constant touch with your suppliers with clear communication and let them know what’s coming. Pass on information at all stages of the process – the ongoing dialogue will build loyalty and relationships will be improved dramatically. Within any pipeline of work, it’s your responsibility to ensure good communication comes through you.
As mentioned earlier, there is now increasing pressure to develop more sustainable supply chains – and rightly so. Make sure you uphold broad ethical standards for environmental sustainability and the treatment of workers throughout the supply chain. This is easier said than done as many companies don’t have a complete map of their supply chain, so make it a priority to find out if all your suppliers are educated in ethical practices and have processes for compliance. In this way, you can drive change in the supply chain and play your part in ongoing industry progress.
Relating to the last point, success absolutely depends on choosing the right partners. Cost is obviously a key factor, but don’t let that overshadow everything: pay careful attention to reputation, reliability, adherence to standards, positive testimonials and professionalism. Most organisations outsource some part of their supply chain and logistics operations, which involves a significant handing over of trust. Take the time to make the right choice and, when it comes to letting others be part of your business, never compromise on quality.
Sprint Logistics is a leading fulfilment solutions company that provides supply chain management and global warehousing for a wide variety of businesses. We manage the detail in your supply chain together with the physical shipping process to ensure that your goods are delivered perfectly, every time.
If you would like any assistance or advice in planning your supply chain strategy, please contact us.
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]]>The post The Benefits of a Digitised Supply Chain appeared first on Sprint Logistics.
]]>As PwC states: ‘The goal of the digital supply chain is ambitious: to build an altogether new kind of supply network that’s both resilient and responsive.’ What companies also end up with is a more responsive, agile and transparent model that lowers their production and operation costs.
There are many benefits of a digitised supply chain; we explore some of the main advantages below.
A digital system enables a demand-driven supply chain, allowing organisations to adjust products in the supply chain based upon demand for them using real-time sales information – accelerating production of bestsellers and cutting slow movers. In short, retailers can respond to a host of industry-wide unknown variables associated with fluctuating demand, such as inventory shortages/overages and availability of resources.
Traditional supply chains rely on the transfer of information from one siloed stage to another, which is cumbersome, error-prone and time-consuming, particularly in complex chains. A digital supply chain allows information to be available to all in real-time; such transparency boosts speed and efficiency. The data also feeds into advanced analytics, giving rise to better business insights and forecasting.
Digitising the supply chain means key players will have a greater capacity to share data, collaborate on important initiatives and work together to ensure smooth workflows. Since a digitised supply chain is partly based on the centralisation of data storage with multiple access points, people within the stream can access the information and communicate its importance in real-time.
Perhaps the most important benefit, customer-centricity is the most desired business outcome of supply chain digitisation. Today’s digital technologies enable the supply chain to become customer-driven, personalised, agile and responsive – leading to an improved customer experience and revenue growth. Smart supply chain leaders focus on the ultimate objective: satisfying the customer.
Global skills and abilities are changing. As technology continues to advance, the type of talent being developed is evolving as skills gaps become apparent. Traditional training methods will no longer be relevant and business leaders will need to seek out people who are comfortable with modern systems, deep analytics and new technologies. Forward-thinking brands can see where the talent lies in a changing world, and move to take full advantage of it.
Sprint Logistics is a worldwide logistics company providing global supply chain, fulfilment services, distribution, storage, mass-mailing and ecommerce solutions to a wide range of customers. Our vision is to be the best provider of smart, tailored supply chain solutions to clients locally, nationally and internationally.
Contact us today to discuss your requirements and we will provide a bespoke service.
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