Logistics Industry

Contract The Right Logistics Firm For Efficient Management Of Your Logistics Requirements

Posted by on Jun 25, 2018 in Logistics Industry | Comments Off on Contract The Right Logistics Firm For Efficient Management Of Your Logistics Requirements

Contract The Right Logistics Firm For Efficient Management Of Your Logistics Requirements

Logistics management involves a number of technicalities and most of the businesses require the services of a specialist logistics firms for efficient management of their supply and delivery networks. There are a number of logistics firms specializing in different products to provide the best logistics services for the clients. Choosing the right logistic firm that suits your business needs is a difficult process which involves a lot of time and effort.

Follow these simple tips to select the right firm providing specialist logistics services that suit your business needs.

  1. Core Competency

Core competency is the area of specialization. Not all logistics firms are good at handling specialist products. You should select a company, which provides specialist logistics services to suit your business. You can know about the expertise of the company by analysing their history and previous work assignments. Use internet to research about different companies, read reviews, testimonials and feedback of previous clients and ask for references. Ask important questions like, how long the company has been in business? What products the company specializes in? Where is the Warehouse facility? What systems are in place for effective management? And how the company manages contingencies? All these factors will help you to determine the core competency and expertise of the logistics company.

  1. Reliability

The logistics firm should be able to offer reliable and efficient specialist logistics services that suit your business requirements. The logistics company should have efficient warehouse management systems and transportation systems for proper management of your products. They should have trained team to deal with emergencies. The logistics company should be able to offer emergency services to take care of unexpected contingencies.

  1. Technology

Another important factor to consider before contracting a logistics firm is the use of technology. The company should be willing to use technological advancements to provide up-to-date services to the clients. Proper use of automation and technology improves the efficiency of logistics firms and also reduces wastage.

  1. Flexibility

The logistics company should be willing to provide the right solutions to suit your requirements. Talk to the company and know about the specialist logistics services, they are willing to offer and how they are going to customize their services to suit your requirements.

Read More

Bitcoin Progresses Into The Logistics Industry

Posted by on Jan 31, 2018 in Logistics Industry, Service, Tech, Tips | Comments Off on Bitcoin Progresses Into The Logistics Industry

Bitcoin Progresses Into The Logistics Industry

The freight industry reached a milestone after it saw its first transaction that was dealt with using cryptocurrrency. This is big news for transport companies in Perth that are yet to accept digital currencies as form of payments.

According to Bloomberg, the parties involved in the transaction are Turkey and a leading wheat shipper from Russia. The digital payment used for the transaction was the cryptocurrency bitcoin. This was included in the pilot testing of the payment system based on blockchain technology. The developer responsible is Prime Shipping Foundation. The transaction will make it possible for logistic companies as well as members of the freight industry to handle payments and convert them from cryptocurrency to monetary value and vice versa.

Ivan Vikulov, the chief executive officer of the company which is the outcome of a partnership that occurred between Interchart and Quorum Capital. According to reports, Prime Shipping Foundation is also planning to create a digital currency under their company.

Vikulov said that they are on the process of creating a payment system capable of cross-border which is easier and faster compared to what is in existence. In terms of their knowledge, this is the very deal in the freight industry done using cryptocurrency.

The transaction was prompted by the desire of the industry to text the capacity of the blockchain technology and the impact of cryptocurrency in making transactions efficient. Data sharing will also be made easier between partners and other sectors of the supply chains.

The company is also waiting to have a banking license in order to operate in Gibraltar where they can manage the transactions utilizing the cyrptocurencies issued by the government. In addition, the company is planning to generate funds within this year.

Other industries have also tried using cryptocurrency in their transactions. One example is Louis Dreyfus, a big name in the food trading industry. They used blockchain technology to process the import of soybeans between Shandong Bohi Industry Co in China and United States.

Blockchain technology is believed by experts to be the start of a new era. It will not be surprising if transport companies in Perth will follow suit.

Read More