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January 24, 2022 by Logistics

How do I reduce the risk and cost of my supply chain but improve my service?

There are three immediate issues that you should focus on in 2022.

  1. Risk – can your supply chain withstand network disruptions
  2. Cost – what kind of cost pressures will manifest themselves during 2022
  3. Service – Can you provide/receive a reasonable level of service through your supply chain

Let’s look at each of these issues one by one and parse them into components that need attention over the next 12 months. Now is the time to be looking at, developing plans for, and executing a sound supply chain strategy in 2022.

SUPPLY CHAIN RISK

How breakable is the supply chain you employ to get product, raw materials, componentry, finished goods, from your vendor community? Do you have safeguards in place to remedy breakdowns in the “supply” chain? For example, if your supply chain has products that originate outside the domestic US, will you be able to get them either in the quantity needed, when needed, or at all for that matter? Do you have multiple supplier sources lined up to allow you to switch from one supplier to another seamlessly or are all your eggs in one basket for key product sources? There have been, up to this point, numerous embargoes, shutdowns, slowdowns, etc., that have impacted sources of supply. Covid-19 was a huge factor, and still is, in sourcing decisions. Put yourself in a position that allows you to flex with the network, not suffer from it. Have multiple sources of supply in multiple locations.

COST

According to the FMC (the “Fed”) inflation was initially thought to be transitory. If you have been sourcing either products or services (such as transportation) you know that inflation is here to stay in 2022. Specifically, freight rates on all modes have been going up steadily, some at double digit rates. Although we know that this is not sustainable in the long term, it is a fact-of-life in 2022. Motor carrier rates have skyrocketed. Labor shortages, weather, input costs such as fuel, all have had a huge impact on and cause for increased rates. So, what can you do about it in 2022? Our advice is to get into long term contracts of a year or longer. Lock-in now at the best rates you can and keep them in place for as long as you can. Once again, variety will help you. Leveraging volume with few logistics suppliers is not a recommended strategy in today’s market. Keep your modal options as well as your individual relationships open to as many carriers as you can manage effectively.

SERVICE LEVELS

Everyone seems to have gotten over the initial shock of having goods take much longer to get from point A to B these days. The recommended strategy for service going forward is two-pronged. Set realistic expectations with your customers. Make them aware of the challenges in the logistics network and let them know what you are doing to help mitigate the issues. One clear point is that you must have multiple options to move product because many logistics suppliers are simply under water. There is less capacity for more demand. This causes the network to go out of balance which in turn takes a long time to heal. The second prong of the strategy involves  looking at options that you haven’t considered before. Dedicated capacity, Private carriage, Multiple-stop truckload vs LTL. Anything that allows you the ability to circumvent supplier issues is relevant in today’s marketplace. The more options the better. A third-party logistics company (3PL) can help provide more solutions.

Riverside Logistics. a twenty-five-year-old, third-party logistics company based in Richmond, Virginia, that prides itself on being able to handle logistics a myriad of challenges confronting its clientele. They have close to 1MM square feet of useable warehousing and participate in local, dedicated, and long-haul transportation markets. They also do Logistics Management Consulting with clients to improve the execution of their Logistics networks.  We know that we can provide solutions that are both cost and service effective in today’s marketplace. Give us a call and we’ll be happy to try and help you.

About the author

Jim Durfee
Vice President Business Transformation
Headquarters: Riverside Logistics, Inc. , 5160 Commerce Road, Richmond, VA 23234
Riverside Logistics is a full-service third-party logistics company (3PL), delivering world-class supply chain management solutions.

If you would like more information or have questions about this article,  please call Jim at 804- 474-7700 Option #4.

Filed Under: News & Events, Supply Chain, Third-Party Logistics (3PL) Tagged With: Cost, How much does my supply chain cost?, Richmond, Riverside Logistics, Services in Supply Chain, Supply Chain Risk, VA, Virginia, Virginia Ports, Warehouse near the Ports

August 27, 2020 by Logistics

Are your freight costs going up?

If so,  you are not alone. The recent disruption in supply chain due to Covid-19 has been challenging and well documented.  Being able to ship product on demand is a basic business need. The challenge in today’s environment is lack of predictability.  As Covid-19 cases increased, demand for food to restock grocery stores rose dramatically, while demand for food from restaurants and hotels slowed drastically. This shift is just one example of an extraordinary change in freight demand. As demand goes up, prices go up. As demand goes down, prices go down. When both are happening at the same time…it can be very challenging. 

A third-party logistics company can help relieve some of this stress because of the volume of freight they handle and their close monitoring of truck capacity. This volume means they have strong relationships within the transportation industry and warehouse space at their disposal to help provide solutions that many transportation companies cannot offer. A strong 3PL team is dedicated to finding solutions for their customers often in unexpected ways. A 3PL can help “flatten the curve” of your freight cost and reduce the heartburn that comes with high price volatility. Below are a few specific ways a 3PL can help when your freight costs are going up and your demand for freight is changing rapidly. 

  • Local Delivery – 3PL’s have trucks running every day within a 150-mile radius of their location to serve multiple customers. By putting multiple clients product on one truck the cost is reduced for all. As a matter of fact, when more clients that have different products going to the same locations (Example: hospitals) everyone saves money and reliability increases. 
  • Dedicated Lanes – If a 3PL has a truck shipping freight from point A to point B for one client and finds another client who needs product shipped from point B to point A, then the 3PL can “match” the driver and truck with the loads. Everyone benefits from this relationship. More predictability, lower cost, and a knowledgeable and reliable driver who knows what you need and when you need it.
  • Drayage – International shipments, whether exports or imports, can be difficult to time with respect to labor.  A 3PL can help by not only picking up TEU’s (containers) from the port but they can either transport directly to your warehouse or client, or they can cross-dock the product (usually less than a week) at their warehouse to allow more time to find the lowest freight cost available. The Virginia Ports and the Richmond Marine Terminal are very attractive options because of their locations on the East Coast.
  • Change in Mode – Another example of how freight costs have shifted dramatically is in the airlines. The cost of using passenger airlines to ship freight internationally has increased because the number of passenger flights has dropped substantially .  Before, freight was added  to flights that were frequent and reliable so capacity was available at a reasonable cost. Now, with so few flights, there is a  significant decrease in freight capacity.  Shipping internationally may require dedicated freight flights often with an expedited focus which comes  at a much higher cost. How is  this problem solved? Maybe  with a shift in mode of transportation! Instead of Air freight maybe the shipment travels internationally by ship, or domestically by rail or truck. Obviously, timing can be a factor that needs to be taken into consideration. Low Air Freight may be a long way in the future but a 3PL company  can help.
  • Flexibility – A 3PL has many solutions to choose from to help lower your freight costs and offer cost savings from unexpected places. As you navigate the uncertain future cost of freight, it only makes sense to develop a partnership that focuses on reducing costs to help you navigate the challenges ahead.

————–

Riverside Logistics is a third-party logistics and supply chain management company providing a full complement of third-party logistics, transportation and warehousing solutions.

Riverside Logistics serves the Medical, Food, Chemical, Paper and other mission critical industry sectors.  Riverside Logistics has owner operator’s and dedicated lanes, with routes throughout Virginia, the Mid-Atlantic and the Southeast. Riverside Logistics offers pooled distribution and consolidated delivery services throughout the 48 states that can save you money. They are headquartered in Richmond, Virginia. To contact Riverside Logistics for a quote call 1-804-474-7700 Option 4 or click here.


Filed Under: Transportation News Tagged With: Change in Mode of Shipping, Drayage, How can a Third-Party Logistics Company Help (3PL), How do lower Freight Cost, How to ship LTL, Less than Truckload LTL, Local Delivery Options, Norfolk Ports, Richmond Marine Terminal, Richmond Virginia, Small Package shipping, Truck Brokerage Firm, Truckload, VA, Virginia Ports

August 20, 2019 by Logistics

What Transportation Services Does Riverside Logistics Offer?

Riverside-Logistics-New-Trailers
Third Party Freight Management
 – It can take hours of valuable time to search for the best combination of mode, equipment, schedule, price and availability. Even then, you may not be sure that you’ve selected the right carrier for the job. When you have Riverside Logistics manage your shipments, whether for a project or your entire supply chain, we tap into our vast contracted and insured network of quality, reputable carriers to find the best solution. We have access to all modes of transportation, including small package, LTL, full load /consolidations, refrigerated, dry, and flat bed.

Riverside offers dedicated trucking resources to serve the Middle Atlantic and Southeastern states along the I-95 corridor. Our experience is both broad and deep, including work in a variety of industries such as medical products (including sterile surgical products), food and beverages, building materials, retail and industrial packaging, metals, chemicals, fertilizer and minerals, automotive supply, timber and paper products and a wide variety of consumer products including, non-durables and durables. We are a proud member of The Transportation Intermediaries Association (TIA) as well as the Council of Supply Chain Management Professionals, leading trade associations of third party logistics companies.

Services

  • Truck Brokerage
  • Core Carrier Program
  • Carrier Quoting – RFP, RFQ, Analysis, Negotiation, and Contracting
  • Shipment Consolidation and Mode Selection
  • Carrier Optimization and Selection
  • Freight Bill Audit and Payment
  • Freight Claims & Prevention Strategies
  • Yard Management
  • Trailer Pools

Transportation Modes

  • Air freight (small package and heavyweight)
  • Small parcel
  • LTL (Standard and Volume Quote)
  • Drayage
  • Truckload (Dry Van, Flatbed, Refrigerated)
  • Intermodal
  • Dedicated
  • Ocean Freight (Container or Roll On Roll Off)
  • Hot Shot, Time Definite, Guaranteed Delivery

Filed Under: News & Events, Transportation News Tagged With: Core Carrier Programs, Dedicated Lanes for Shipping, Drayage, Freight Services near the Virginia Ports, Healthcare Freight, Henrico County, Hot Shot, Intermodal, Less than Truckload LTL, Medical Device Sterilization, Medical Distribution, Near the Richmond Marine Terminal, Near the Virginia Ports, Ocean Freight, Richmond, Shippers with Assets, Small Package, Third Party Freight Management, Transportation Services, Truck Brokerage, Virginia, Virginia Ports

January 17, 2018 by Logistics

Trends in Transportation + New Driver Requirements (Electronic Logging)

Riverside Logistics International BusinessVIRGINIA INTERNATIONAL BUSINESS COUNCIL, INC.

Enabling International Trade Success Since 1948™

Join us at our Monthly Luncheon Program on Jan. 24th for:

Trends in Transportation + New Driver Requirements (Electronic Logging)

Featured Speakers: Rick Holden + Jim Durfee, Riverside Logistics

Presentation will include presentation on phases of international transportation. Discussion about recent legislation requiring truckers to replace current paper logbooks with electronic logging devices (ELD) and its impact on freight rates, delivery times, and driver hours of service.  There will be time for questions following the presentation.

Details:  Wednesday, January 24, 2018

11:45am – 12:00pm:   Registration & networking

12:00pm – 1:30pm:     Luncheon meeting and program

Venue for this Luncheon Meeting: Omni Hotel, 100 S. 12th Street, Richmond, VA

Cost:   Early registration [by January 18, 2018]:

$25 for VAIBC members

$35 for non-members

Registration after January 18th:  $35 members, $45 non-members

Register online:  www.vaibc.org

About the speakers:

Jim Durfee – Vice President Business Transformation, Riverside Logistics – Jim is tasked with driving the strategic planning and infrastructure improvements necessary to help Riverside achieve its long term growth targets.  Jim has 33 years of Logistics experience across Manufacturing, Retail and 3PL settings. Most recently running the centralized global logistics operations at Meadwestvaco Corporation. This operation controlled over 400 million in logistics spend and handled shipments across 6 continents.  Mr. Durfee has worked on a variety of TMS platforms using both in-sourced and out-sourced logistics resources. He taught Logistics as an adjunct Professor at the University of Richmond for a number of years and is a licensed ICC Practitioner, a Licensed U.S. Customs Broker, a certified Six Sigma Black Belt, a TIA Certified Transportation Broker, and a Certified Member of AST&L (now APICS). He is also a former President of the Central Virginia CSCMP roundtable and holds a BS in Business Logistics from Penn State and a MBA in Management from Loyola University.

Rick Holden – Vice President of Business Development and Corporate officer for Riverside Logistics. Having joined Riverside in 1998 he has over 22 years of diverse, multi-disciplinary, and multi-industry experience in areas of supply chain management, 3PL Sales, logistics, transportation, warehousing, and contracts management and negotiations in industries including medical surgical supply, pharmaceutical, food, manufacturing, chemical and controlled substances, and various consumer products. Rick Holden is currently responsible for all business development and consultative sales activities for Riverside Logistics. Having started the warehousing operations and previously managing the transportation functions at Riverside, he has worked in almost all of the operational facets of the company.

Mr. Holden holds a BS in Operations Management from Virginia Commonwealth University, with advanced graduate studies in Logistics Management at University of Richmond. He is also certified in ISO 2000 procedures, and is a past president of the Council of Logistics Management, Central Virginia Roundtable (now the Council of Supply Chain Management Professionals)

Filed Under: News & Events Tagged With: 3pl, Certified Food warehouse and Distribution Facilities, East Coast Ports, Henrico, Inc., International Distribution, International Trade, Jim Durfee, Norfolk Ports, Richmond, Rick Holden, Riverside Logistics, Supply Chain Manangement, Third Party Logistics, Trade in the U.S., Virginia, Virginia International Business Council, Virginia Ports, Warehouse

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