Shekhar Aanchal - FORWARDING: A BALANCED APPROACH Aanchal...

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FORWARDING: A BALANCED APPROACH T he idea of collaborative planning processes is to directly connect the resources and exchange relevant data in order to create a common and mutually agreed upon plan. The collaboration process itself assumes reaching goals that cannot be achieved acting singly. In each collaboration process not only overall coalition profit should improve but first of all a preservation of interests for each single partner, contained in profit sharing model, should be maintained. Freight forwards are those logistics solution providers (LSP) who take care of end to end freight operations from booking, freight operations and documentation to final billing of end customers. The solution is multimodal and caters all modes of shipments including sea, air and land shipments. In the present scenario, freight forwarding sector is experiencing an intense competitive market globally and in order to sustain themselves and incur profits and revenues, they have opted for sophisticated ERP packages. This enables them to integrate their activities such as Shipment Processing, Shipment Tracking, Supply Chain Management, Customer Relationship Management, and Business Process Management. Basically, such packages secure lower cost of ownership and quick return on investment. There is a well defined process that a logistics solution provider should consider. Eventually, these are the stepping stones which ultimately lead them to profit maximization and revenue generation. They are as follows:- 1. Revenue generation through new businesses: Winning new business and meeting the needs of the prospects should be the number one priority in the business . Customers are looking beyond cutting bill of lading or arranging for freight and towards value added services that can provide greater visibility, on-time delivery. The forwarders offer a software solution for improving efficiency and productivity of the shipper. Benefits are associated with it are: improved revenues, strong ROI, tighter link between the company and its customers. Forwards are working on value addition by offering such services in order to drive higher revenues and maximization of profit. 2.
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Shekhar Aanchal - FORWARDING: A BALANCED APPROACH Aanchal...

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