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Forward20 blog 10-8-20

October 8, 2020

Sneak Peek: Harnessing Supply Chain Data with Trade Technology


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This year is marked, more than ever, by the need for agility. The spread of Covid-19 obliterated most supply chain forecasts with stalled shipments, constricted capacity, and rocky rates. Companies that have withstood the challenges have adapted by pivoting to ecommerce, storing sufficient inventory, diversifying suppliers, or selecting premium services for shipments. Yet others have joined the ranks of businesses that have succumbed to the so-called ‘retail apocalypse.’

This intensifying complexity is matched by a need for identifying tools and solutions that can bring much-needed agility. And that’s exactly what attendees will hear more about in the upcoming digital summit, Forward20 by Flexport. Read on for some previews of what will be discussed.

Streamlining Data

Across a large supply chain, hiccups can result in delays, fees, fines, and missed sales opportunities. It’s essential that stakeholders can find the information they need when they need it.

The daily grind of supply chain management doesn’t allow much time for hunting down the critical information necessary to keep things on track. And even when logistics managers are technology enabled, as data sets grow larger, users can find themselves searching for a single piece of information—when they could be solving for upcoming business challenges.

That’s where the power of personalization comes in. With self-designed dashboards, drag-and-drop widgets, exception flagging, and other customizable elements, users can operate swifter and more effectively.

A Return to Strategy

Since current orders can form a new baseline for business moving forward, it’s crucial that lifecycle data is easy to access and analyze. But placing new orders and tracking shipments isn’t enough to rebuild business.

Technology-powered order management can help companies figure out how to recoup losses from earlier in the year, while boosting planning efforts for 2021. And when combined with exceptional reporting capabilities, new performance indicators may develop, helping leaders forge ahead with strategic plans backed by data.

Customs Compliance

A long-running series of trade agreement tiffs have also complicated the supply chain for some. Tariffs have increased costs or driven companies to try transshipment or relocate manufacturing. All of this requires extra attention to customs compliance.

At Forward20, experts in customs and trade advisory will discuss how technology can address these risks with country-specific compliance data at the product level, along with harmonized tariff codes and duty rates.

By automating the complexities of the supply chain, this otherwise arduous process frees shippers to spend time on more strategic operations that can further drive value in their organizations.

Don’t miss this opportunity to learn how to make the most of trends shaping trade technology now and through 2021. Register for Forward20 by Flexport, taking place Wednesday, October 14.

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