Week of March 2nd, 2019
Linking technology news with Dangerous Goods compliance
Technology is helping improve supply chain performance and deliver greater business value. But not every aspect of the supply chain is getting the attention (and investment) it deserves.
To help companies keep a pulse on technology trends impacting business and the movement of dangerous goods throughout the supply chain, Labelmaster has launched “Supply Chain Moves,” a weekly report linking the latest technology news to dangerous goods compliance.
Let’s examine the recent supply chain technology and industry news.
- What Keeps Supply Chain Execs Up at Night? Lots of Things: From mitigating risk to deploying new technology, supply chain leadership is a hands-on job. Here’s how four execs keep their perspective.
- Circular Supply Chain Investments Must Focus on Reverse Logistics: According to a Gartner survey, companies are investing in technology to achieve supply chain circularity, but a lack of attention to reverse logistics could hamper progress.
- What’s Next: Digital Transformation: Industrial enterprises increasingly seek end-to-end vendors to implement digital transformation initiatives to solve industry challenges.
- How Automation Will Impact the Global Packaging Landscape: With demand for consumer products witnessing a profound upsurge in recent years, efficient and robust packaging solutions are the need of the hour.
- Ready, Set—Delay!: It’s easy for a software implementation to end up taking longer than originally anticipated. Here are ways to avoid the common pitfalls associated with selecting and installing a warehouse management system.
- Achieving Your TMS Investment Goals Means Leaving the “Happy Path”: If correctly selected and implemented, a TMS can deliver 5% to 10% a year in savings. The challenge is deciding how to develop and implement such a system.
- 3Gtms Acquires Pacejet: Companies combine their strengths in transportation management solutions and shipping execution software to expand solutions base and reach new customers.
Technology & Dangerous Goods Compliance
According to a Gartner survey, 70% of supply chain leaders are planning to invest in the circular economy in the next 18 months in order to reduce the impact on the environment and have a positive financial impact on their organizations.
Gartner defines the circular economy as an economic model that separates the ability to achieve economic growth from the consumption of natural resources. This business model encourages continuous reuse of materials to minimize waste and the demand for additional natural resource consumption.
Sarah Watt, senior director analyst with the Gartner Supply Chain practice, notes, “The difference in emphasis between delivery and reverse logistics is intriguing. On the one hand, we observe organizations using technology such as analytics and alternative vehicles to optimize their routes and reduce emissions … [but] reclaiming materials at the end of life requires reverse logistics for pickup and return to either the organization or a third party.”
The inability to handle reverse logistics is also a key challenge for DG shippers. According to Labelmaster’s 2019 DG Confidence Outlook Survey, 13% of DG pros feel their company’s reverse logistics processes for DG are “not adequate” to meet current needs, and only 20% feel they can support future requirements.
The continued growth of e-commerce has brought with it an increase in reverse logistics activity – both consumers returning to stores and stores returning to manufacturers and distributors. With almost one in 10 U.S. retail purchases get returned, any retailer that sells electronics, nail polish, auto parts or one of the thousands of other items classified as “hazardous” must be prepared to handle reverse logistics and must comply with the same hazmat rules, restrictions and provisions that apply to shipping these items to consumers in the first place.
Need help with your reverse logistics? Check out Labelmaster’s 6-step recipe for success.
Labelmaster’s Dangerous Goods Information System (DGIS) is the leading SaaS solution to help companies more efficiently and accurately manage their Dangerous Goods shipments. DGIS validates your Dangerous Goods shipment data against the latest regulations, ensuring a more efficient supply chain and reducing friction found in Dangerous Goods shipments. DGIS is a certified partner/validation solution with ERP, transportation and warehouse management systems.