Three subsystems of distribution logistics

In order to increase mission reliability and reduce the logistics footprint, considerable interest is now being focused on the implementation of prognostics.

Three subsystems of distribution logistics

Should You Put Stock in Brokers? Just as companies' physical supply chains have become more global, more complicated, and more critical to their performance, so have their financial supply chains—the transactions and information that keep materials and products moving from origination to their final destinations.

Freight costs make up a key segment of the financial supply chain. Companies that ship goods or materials can boost performance and gain a competitive edge by understanding the financial ramifications of their shipments. Among the questions companies need to address are: Who are they paying?

Three subsystems of distribution logistics

What services are they paying for? What goods and transportation modes do the bills cover? Do the invoiced terms match the contract, as well as the services delivered? Most important, where can they find opportunities for savings and efficiencies?

Providers of freight bill audit and payment FBAP services can help companies answer these questions. While auditing freight bills remains a core competency of FBAP firms, their capabilities extend much further. Many offer invoice processing, analytics and reporting, freight optimization, and other services and solutions.

If you don't manage it, it grows out of control quickly. Bankwhich offers freight audit and payment services and trade finance solutions. Both shippers and carriers need visibility to the goods that are moving, as well as the transactions that accompany them.

Shippers, for instance, want to know the status of shipments moving across all lanes and modes. Carriers want to know when to expect payment, and they want assurance that they will be paid accurately. An Evolving Industry The freight payment and audit services market has evolved and matured over the past 15 years, says Keith Snavely, senior vice president of global sales with nVision Global.

Three subsystems of distribution logistics

Based in Atlanta, nVision provides global freight audit, payment, and logistics management software and services. The passage of Sarbanes Oxley was a prime catalyst in the United States, as it forced companies to obtain a greater understanding and better control over their expenses, he adds.

As companies' supply chains have become more global, so has the freight payment and audit industry. At Cleveland-based CT Logisticsfor instance, global audits are expanding at double-digit rates, says President Allan Miner, and CT's clients are adding imports and exports to their freight bill audit and payment services.

CT Logistics provides logistics and transportation management system TMS solutions, freight invoice validation and payment, business intelligence, consulting, and other services. Its systems can accommodate international standards, such as metric weights and measures, and international tax structures and accessorial fees.

Companies take a range of approaches when working with clients whose operations span multiple countries. For example, Rochelle Park, N. As a result, it's able to handle payments in various countries, languages, and currencies. They also process invoices in countries. For instance, Europe's value-added tax VAT regulations require companies to retain many original invoices and supporting documents for 10 years.

For jurisdictions with VAT or goods-and-services GST taxes, that could mean credit memo processing for pricing exceptions. For geographies with low labor costs, companies might shift to a Software-as-a-Service SaaS solution, rather than a full cost model.Spruce Point has a Str ong Buy opinion on Henry Schein (HSIC) and sees 30% to 50% upside potential; We believe the upcoming spin-off of HSIC’s animal health distribution business will unlock substantial value for shareholders.

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