1. Eliminate supply-chain bottlenecks. Inbound congestion at warehouses, distribution and fulfillment centers and manufacturing facilities will wreak havoc on logistics. Analyze your complete supply chain with a focus on inbound carrier scheduling, correct and complete documentation and full regulatory compliance.
2. Price out your logistics choices. Are you shipping by air when you could ship by ocean? Moving goods and shipping boxes by truck when they could get there by rail intermodal? Look into your transportation modes and request at least three quotes from competing carriers representing different modes when obtaining spot quotes.
3. Create shipping alliances. If you typically ship LCL, that is Less than Container Load, out of or to a particular country, you might be able to identify an importer or exporter who also ships LCL from and to those same ports. A partnership between you and a third party logistics services company can secure more cost-effective terms by combining your individual shipments into FCL, or Full Container Load, shipments. Similarly, you can partner with other companies to create trucking alliances that qualify for full truckload shipment discounts.
4. Consolidate service providers. Analyze your in- and outbound shipping patterns and identify where you’re paying multiple transportation, logistics and carrier onboarding providers to perform the same services in the same geographic areas. Consolidate as many of these fulfillment services providers as you can to gain significant economies for both enhanced service as well as reduced costs.
5. Cut back on redundant insurance coverage. Many companies routinely pay extra to insure their shipments with the carrier’s insurance programs even though their own corporate insurance policies cover loss and damage claims.
6. Audit your freight bills regularly and carefully. Freight bills routinely contain errors in up to 5% or 6% of invoices issued, which almost always favor the carrier. A thorough audit can uncover substantial hidden costs, as well as potentially lost profits.
7. Continually upgrade your software systems. If you’re using software that is over 5 years old, you may be missing out on improvements and expanded functionalities. Install the upgrades. Take the tutorials and make the most of the new bells and whistles.
Pass these suggestions along to your transportation manager and look to lower logistics costs significantly before end of year.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
