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.
January 2024 product roundup: Road freight tracking and custom properties
A new year calls for a new mode!
Moving goods across the world often depends on an intricate network of partners and transportation methods. A good freight visibility solution needs to provide seamless insight into the journey of your goods – regardless of the mode being used to transport them.
That’s why we’re starting off the year with the launch of road freight tracking. Road tracking complements Beacon’s existing ocean and air cargo capabilities, and marks a major milestone in our mission to equip supply chain and logistics teams with a single source of truth for freight visibility.
Other recent updates include the introduction of custom data fields and a host of new default properties to give you improved visibility and flexibility.
Keep scrolling for a full rundown of what’s new in Beacon this month…
Road freight tracking
Beacon connects with telematics devices installed on the fleets of 158,000 global road carriers to provide live ETA and journey distance information. Tracking data is refreshed every 15 minutes.
Equipped with this real-time data, logistics teams and warehouses can better plan for the arrival of goods and you can ensure supply chain partners and customers have access to the information they need to do their jobs.
To track a road shipment in Beacon, all you need is the:
- License plate
- Pick-up address (loading station)
- Pick-up timeslot
- Drop-off address (unloading station)
- A unique shipment identifier
Pick-up and drop-off addresses are set up and stored in your address book, meaning you just have to do a one-time set-up of your common locations.
If your carrier is not currently supported, getting them set up is easy. Your Beacon Customer Success Manager will guide you through the process.
Over the coming weeks, we’ll be releasing updated email notifications and reporting to give you further insight into the movement of goods by road.
More data fields for better visibility
To help you consolidate all the information you need in one place and gain more flexibility in how you search shipments, we’ve launched custom data fields.
You can now define additional fields to best suit your needs. These can be used to keep track of information such as cargo weight, number of pallets, consignee contact information, product category or any other relevant details.
In addition to custom options, we’ve also added several new default fields including:
- Consignee (recipient of goods), for ocean, air and road shipments
- Master bill of lading (MBL), for ocean shipments
- House bill of lading (HBL), for ocean shipments
- House air waybill (HWAB), for air shipments
All new data fields will display on tracking cards, can be populated via CSV upload, and are searchable in your Beacon dashboard.
Tracking cards have also been updated to display the email of the user who uploaded a shipment to the platform and the date it was added.
Step into the future of freight tracking
Ready to discover the power of automated, real-time freight tracking with Beacon? Start your free trial to track your first 60 shipments on us.