A trade lane (or trade route) refers to a specific pathway along which goods are transported between two or more locations, typically across international borders. Trade lanes are established based on the flow of goods and the economic relationships between countries or regions. They encompass both maritime and air routes and play a crucial role in global supply chains by facilitating the movement of goods and fostering international trade.
Transit time refers to the duration it takes for goods or shipments to travel from their origin to their destination. It is a crucial metric in supply chain and logistics management, as it directly impacts delivery schedules, inventory levels, and customer satisfaction. Transit time encompasses the entire journey of a shipment, including transportation, handling, and processing at various checkpoints along the route.
Transloading refers to the process of transferring goods or cargo from one mode of transportation to another, typically from one type of truck or railcar to another, or from rail to truck and vice versa. This logistical practice is often employed to optimize transportation routes, reduce costs, and improve overall efficiency in supply chain operations.
A Transportation Management System (TMS) is a specialized software solution designed to streamline and optimize transportation and logistics operations within supply chains. It provides functionalities to effectively manage and control the movement of goods from origin to destination.
Transportation lead time refers to the duration it takes for goods to be transported from the point of origin to the final destination. It encompasses the time required for transportation activities, including loading, transit, and unloading, across various modes of transport such as road, rail, air, or sea.
A transshipment is the process of transferring goods from one transportation vehicle or vessel to another during their journey from origin to destination. It typically occurs at intermediary points along the supply chain route, where cargo is transferred between different modes of transportation, carriers or vessels.
Twenty-foot Equivalent Unit (TEU) is a standard unit of measurement used in the shipping industry to quantify the cargo-carrying capacity of container vessels. It represents the volume of a standard twenty-foot-long shipping container.
An Ultra Large Container Vessel (ULCV) is a massive container ship used on major trade routes, capable of carrying over 14,000 TEUs.
Vendor Managed Inventory (VMI) is a supply chain management strategy where the supplier or vendor takes responsibility for managing the inventory levels of their products at the customer's or retailer's location. In this arrangement, the vendor monitors the inventory levels based on agreed-upon criteria such as sales data or inventory levels, and initiates replenishment as needed.
Verified Gross Mass (VGM) is a term used in the shipping industry to refer to the total weight of a packed container, including its contents and packaging materials. It is a crucial requirement mandated by the International Maritime Organization (IMO) under the Safety of Life at Sea (SOLAS) convention to enhance safety in maritime transportation.
A floating structure with its own mode of propulsion designed for the transport of cargo and/or passengers. In the Industry Blueprint 1.0 "Vessel" is used synonymously with "Container vessel", hence a vessel with the primary function of transporting containers.
A vessel sharing agreement (VSA) is a cooperative arrangement between shipping companies that allows them to share space and resources on vessels for specific routes.
Vessel bunching refers to the situation where multiple vessels arrive at a port simultaneously or within a short period, leading to congestion and delays. This clustering of vessels can overwhelm port facilities, causing extended wait times for berthing, loading, and unloading operations.
A vessel call sign is a unique identifier assigned to a ship for radio communication purposes. It is used to distinguish the vessel from others in maritime communication systems, including VHF radios and satellite communications.
A vessel omission (sometimes called a port omission) occurs when a scheduled vessel does not call at a planned port during its voyage. This disruption means that the vessel skips the port entirely, which can impact the transportation and delivery schedules of goods.
In cargo shipping, vessel rotation is the planned sequence of port calls that a shipping vessel follows on its route to optimize cargo loading and unloading operations.
The timetable of departure and arrival times for each port call on the rotation of the vessel in question.
A journey by sea from one port or country to another one or, in case of a round trip, to the same port.
Warehouse utilization is a logistics metric that refers to the effective use of available warehouse space for storing goods and inventory.
Order for specific transportation work carried out by a third party provider on behalf of the issuing party.
Logistics yard management refers to the process of overseeing and controlling the movement of trucks, trailers, containers, and other vehicles within a yard or distribution center. This includes tasks such as scheduling, tracking, and coordinating the arrival, departure, and storage of these vehicles.
August 2023 product roundup: Air freight tracking and ocean transshipments
This month, we’ve taken a big leap towards providing a single source of truth for all your supply chain visibility data with the launch of air freight tracking and ocean transshipments, along with enhancements to labelling and reporting.
Keep reading for a full rundown on the latest additions to the Beacon platform…
Introducing air freight tracking ✈️
With the launch of air freight tracking, the Beacon platform is officially multi-modal!
The platform is now connected to over 166 airlines, enabling you to receive real-time tracking updates for air shipments in your dashboard.
Entering an air waybill is all you need to get started. For the major airlines, tracking data will be populated within a minute. For shipments with smaller carriers, initial data may take several hours to come through.
The transportation milestones reported in your dashboard will vary by airline, but typically include a combination of:
- Booking confirmation at origin
- Awaiting loading
- Loaded
- Departure at origin (estimated and actual)
- Arrival at destination (estimated and actual)
- Offloaded status
- Delivery/collection status
As with ocean shipments, air cargo tracking data will feed into a suite of analytics tools and reports designed to help you improve supply chain planning and operate more efficiently. The following reports will become avaiable for air shipments over the next couple of weeks:
- Volume: insights into the distribution of your air freight by route, time period and carrier
- Timing & Delays: compare actual and estimated travel times across routes and carriers
- Risk Concentration: understand how well you are spreading risk across routes and carriers
- Carbon Emissions: put metrics around the environmental footprint of air freight
Improved visibility into ocean transshipments 🚢
Wondering if the latest strike or weather event has affected the movement of your goods?
Transshipments are a common cause of data dark spots. A lack of visibility into which containers are making stops along their journey (and where they’re stopping) can introduce an additional element of supply chain risk that needs to be managed.
We’ve introduced support for ocean transshipments so you can have complete visibility into the movement of your containers through intermediary ports.
With transshipment support, you’re now able to:
- Filter by direct or indirect status and transshipment port
- Identify the number of transshipment ports a container is stopping at
- See when a container is arriving, waiting to be loaded and departing intermediary ports
Add labels in bulk
Labels allow you to categorise shipments based on any associated characteristic. Common uses include grouping shipments based on merchandise category, the haulier responsible for collection, the destination warehouse or the associated end customer. With our latest platform update, labels can now be added to shipments in bulk via CSV upload.
Interested in learning more about Beacon? Get in touch with one of our experts.