However, with the global pandemic, the freight industry has been badly hit from border closures and freight limitations such as flights cancellation, leading to supply shortages.
Inventory Management
As frantic customers storm through the shelves of supermarkets, raid the supplies of toilet rolls and other household essentials, suppliers saw a great opportunity to widen their production and maximize profits. This led to a bullwhip effect when suppliers over-oversupplied in the later stages due to missed production scheduling and resulted in companies having excess inventory buildup, and unable to sell their goods at previously inflated price, leading to a lost in revenue.
While this is an unprecedented challenge, inventory management can be improved using visibility tools and software systems for greater accountability on stocks at hand and for more accurate modelling of inventories.
With the leverage on data, companies can have greater inspection on the company’s inventory, capacity, supplies and finances in a spectrum.
Borders Closure
With many countries shutting down its operations, it is inevitable that many supply chain companies have cut off communications from neighbouring countries that does in-house off-shoring of raw materials as part of its supply chain management.
94% of global companies have reported supply chain disruptions while another 75% of them acknowledged negative impacts on their businesses. Partnerships across borders are hard to come by with the closure of sea ports. Sea freight which once covered 90% of global trade volume has now seen ships being docked and removed from the market.
With drivers shortages and cross-borders restrictions, freight capacity shrank, leading to massive delays and the lack of accountability. Supply chain and operations have become more costly while many customers’ expectations are unmet.
Fragmented Communication
Ordering products from overseas has now become a hassle as it takes months instead of weeks for the parcels to arrive. With the pandemic here to stay as we enter a new normal, we empower you to utilise our effective communication and visibility software system integrated with new breakthrough technology to help you track your parcel and to follow your voyage today! With our cargo tracker, you can be more accountable in managing your warehouse management systems, and access the location of your cargo when it is out at sea. We provide you with details such as the cargo schedule on a 24/7 basis, an estimation of delivery time and a digital map which shows the location of the container in the ocean.
So what are you waiting for? Sign up and experience the new age of technological tracking and follow your voyage today! Simply follow our website at www.tracking-cargo.com or contact now for support.
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BOM SOFTWARE JOINT STOCK COMPANY
Address: # 202, ITP Information Technology Park, Linh Trung Ward, Thu Duc District, HCMC
Email: info@bom-software.com
Phone: +84 287 3044 777 (Office hours)
Hotline: +84 905 11 18 11 – Mr. Duc Do.