If transporting cargo is a crucial factor to the success of your business, it is essential to have proper cargo insurance coverage. Many companies have made the mistake of not having enough coverage or even overlooking the details of their cargo insurance contracts. Either of these situations can be tragic to your profitability and long-term existence.
Logistics as it is known refers to process of moving goods from one point to another in a smooth operation. Logistics is needed in a myriad of sectors that form part of the economy. Logistics is also considered to be the heart of the supply chain process in most businesses as it is responsible for getting the goods to the consumers from the manufacturers.
Import and export is the most favourable mode of entering into cross-border and international trade. Documentation is at the heart of import and export; without documentation such trade cannot take place. No contract, no payment and no transportation will be available. . This documentation that is drawn up and dispatched with the goods ensures that the goods reach their destination safely and also assist in facilitating payments and trust between traders.
Logistics as we know it is a process of planning and executing the efficient transportation and storage of goods from their initial point to the designated point. The smooth running and success of this process is guided by the planning that goes into it. The planning of logistics also minimizes risks and aid companies to anticipate risk and to deal with such instances accordingly as they arise.
Partnering with a third-party logistics (3PL) company can make fulfilling certain supply chain elements much easier and more efficient for both growing and established businesses. The range of services that third-party logistics partners offer can save manufacturers or retailers a lot of effort, making their business more cost- and time-efficient.
Freight transport is the backbone of almost all economic activities based on the provision of physical goods. Supplies of retail goods, agricultural products, and raw material for manufacturing are all depending on freight transport. In South Africa and globally, the main modes of freight transport are maritime, rail, road, and air, with pipeline freight transport forming a growing part of global gas and petrochemical freight worldwide.
Logistics is a globalised process that involves many stakeholders and participants — drivers, captains, stevedores, packers, warehouse staff, road crews, insurers, supply chain specialists, management executives and analysts all form part of the logistics industry.
Logistics is a global business — the worldwide network that supplies every industry, business and households with goods relies on logistics to get physical items from their points of origin to their destinations.
In its simplest form, a third-party logistics provider, or otherwise known as 3PL, “is an outsourced provider that manages all or a significant part of an organization’s logistics requirements and performs transportation, locating and sometimes product consolidation activities.”