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.
October 2023 product roundup: Comments on Live Boards, Doc Manager, warehouse ETAs and more…
Supply chain collaboration is at worst broken and at best, highly inefficient.
While processes built around carrier portals, emails, spreadsheets and shared drives may look modern in comparison to faxes, phone calls and filing cabinets, the reality is they aren’t scalable and fail to capitalise on the technologies that are shaping modern ways of working.
The introduction of comments on Live Boards and Doc Manager, our new document storage and sharing feature, mark the next steps in our journey to help supply chain and logistics teams modernise how they collaborate. Additionally, the release of air freight reporting and warehouse ETAs mark a step forward in making sure that every actor in your supply chain has the information they need to make data-driven decisions and keep goods moving.
Comment and chat on Live Boards
Communicating with partners to respond to disruptions and keep goods moving shouldn’t require the endless email chains that have come to characterise supply chain collaboration. Not only is this kind of collaboration inefficient, but when you share static data you can never be sure everyone is dealing with the same set of facts.
The solution to this problem lies in bringing together communication and real-time data sharing in one place. Building on last month's release of live boards - our solution for sharing real-time tracking information - we’re introducing comments and turning live boards into a central hub for supply chain collaboration.
Comments reduce the time needed to respond to disruptions by allowing you to communicate and coordinate responses with your stakeholders directly alongside the latest tracking updates.
Upload and share documents with Doc Manager
Between commercial invoices, purchase orders, packing lists, bills of lading, customs documents, dangerous goods certificates, certificates of origin and arrival notices, paperwork is an integral part of getting goods from A to B.
These documents are used to pass information between supply chain actors, and also play an important role in compliance and accounting. Unfortunately for most organisations, these important documents tend to be scattered across email inboxes and poorly organised shared folders. Oftentimes, this means that when compliance or finance teams are auditing a shipment or resolving an accounting discrepancy, you’re forced to chase down vendors for documents relating to past shipments.
With the launch of Doc Manager, you’ll never have to go hunting for a document again. Users can easily link documents with shipments in their Beacon dashboard – simply search for the relevant shipment and click the paperclip icon to upload documents. Once uploaded, documents immediately become shared with other users of your Beacon account.
Doc Manager supports the following file types, max 100MB per file: pdf, doc, docx, xls, xlsx, xlsm, csv, jpg, jpeg, png, tiff, dat, log, bmp, ods, rtf, tex, txt and wpd.
Warehouse ETAs
Different stakeholders have different definitions of ETA. While logistics teams might be most interested in knowing when a shipment is arriving at port, warehouse, merchandising and customer teams are likely more interested in knowing when the goods are arriving at the warehouse or final destination.
With the introduction of warehouse ETAs, we’ve extended visibility from the POL all the way to your warehouse loading docks.
After a one-time set up of delivery locations and expected transit times from POD, users will be able to specify the delivery destination for shipments and see warehouse ETAs alongside POD ETAs in your Beacon dashboard.
Air reporting and ocean ETA reliability insights
This month has also seen the launch of several improvements to the Beacon analytics and reporting suite.
To complement the existing ocean freight reports, users now have access to air freight volumes and transit times by route, time period, airline and forwarder.
Additionally, improvements to ocean freight reporting allow you to measure the accuracy of carrier provided ETAs by comparing carrier reported ETAs from one week prior to arrival against ATAs.
Book your no-commitment discovery call to learn how Beacon can help you improve supply chain visibility and transform how you collaborate with your stakeholders.