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.
March 2024 product roundup: Custom notifications, sailing schedules and simplified sharing
This month, we're excited to introduce a host of new features and improvements. From customizable notifications, to point-to-point sailing schedules, and an enhanced API that supports seamless integration with your systems, we've got you covered. Plus, we've made Live Board sharing easier and provided improved transparency into your tracking credits.
Keep reading for the full rundown of what’s new in Beacon…
Custom notifications
Custom ETA change and shipment milestone notifications give you the flexibility to define the conditions under which you want to receive alerts, helping to improve exception management in the process.
Instead of receiving daily updates for all shipments being tracked in your Beacon account, you can now subscribe to alerts for shipments associated with a specific Live Board. This enables different users to subscribe to different notifications depending on their needs.
For example, a warehouse manager may subscribe to receive arrival and ETA change notifications for inbound shipments to their warehouse. A customer service manager, on the other hand, can subscribe to alerts for their specific customers’ shipments and a logistics manager can choose to receive alerts for any shipments with ETA changes in the last 24 hours or where days on quay exceed 3 days.
Point to point sailing schedules
The latest addition to our suite of supply chain planning tools is point to point sailing schedules.
Accessible via the ‘Plan’ section in your Beacon dashboard, point to point schedules show you upcoming sailing options and expected transit times on your highest volume ocean routes.
You’ll first be presented with a list of your highest volume ocean routes, how many sailing options are available in the next two weeks, the number of carriers servicing that route and the average transit time.
Clicking into a particular route will show you all the possible options over the next two weeks along with the associated ETD, ETA, carrier, vessel, number of transshipments and transit time.
This feature is available to customers on Business or Pro plans.
Improved Live Board sharing
Sharing a Live Board with your collaborators just got easier. In addition to generating a shareable link, you can now invite others to join your Live Board directly within the sharing pop-up by entering their email address. Invitees will then receive an automated email from Beacon.
API enhancements
The Beacon API has been upgraded to improve interoperability with your other systems and simplify workflow automation.
The improvements allow Beacon customers to pass custom fields, destination warehouse and carrier code properties into Beacon (along with shipment numbers) to enrich the freight tracking experience.
Additionally, the Beacon API also now returns more information to our customers. You can now access additional data points for tracked shipments, including:
- Gated in Empty date (ocean containers only)
- Warehouse ETA date
- Associated purchase order numbers
- Associated destination warehouse name
- Associated custom fields
View and manage tracking credits
Your Beacon subscription includes a set number of tracking credits. To provide better insights into credit usage, you can now view your credit consumption in the new ‘Credit activity’ section of the Settings page.
Start your free trial today
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