What is Multimodal Shipping?

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StrategyDriven Tactical Execution Article |Multimodal Shipping|What is Multimodal Shipping?When you ship items from your warehouse, you likely place them on a truck and send them on their way. Not all shipments stay on the ground the whole time, though. An increasing number of transportation providers are implementing multimodal transport to improve the efficiency of their operations and get shipments to their destinations at a lower cost.

In the simplest terms, multimodal transport or multimodal shipping means that a single carrier uses a combination of round, air, sea, or rail transportation to move goods from one location to another. Opting for this type of shipping offers a variety of benefits to both the shipper and their clients alike, and preserves the supply chain in the face of challenges brought on by major businesses like Walmart and Amazon, as well as disruptions like those created by the COVID-19 pandemic.

Multimodal vs. Intermodal Transport

Before getting into the benefits of multimodal transport, it’s worth discussing the difference between multimodal and intermodal transport.

Although both types of shipping use at least two forms of transport (for example, land and air), the primary difference is that intermodal shipping uses multiple carriers. In other words, one carrier manages the ground portion of the shipment, and then hands off the shipment to another carrier for the air transport, or vice versa. The shipper pays each carrier separately, and your reports, receipts, and tracking details will come from each carrier individually, and only deal with their portion of the journey.

Intermodal can help speed up shipments, but it can be complex to manage. That’s why many shippers are turning to multimodal shipments instead.

How Multimodal Shipping Benefits Businesses

Opting for multimodal shipping can benefit your business in a number of ways.

Reduced Costs

Although you may receive competitive rates from an intermodal shipping company, opting for multimodal can be a more cost-effective option. Transport providers often provide more competitive rates when you allow them to handle the entire shipment, and offer priority status. Multimodal shipping can also result in tax incentives for shippers. Because these arrangements typically involve making infrastructure investments, companies that opt for multimodal transport enjoy certain incentives that would not otherwise be available. Multimodal transport also reduces carbon offset costs, further reducing expenditures.

Improved Communication

In contrast to intermodal shipping, multimodal shipping only requires communicating with a single operator. The central provider manages all of the communication with the actual transportation providers, ensuring you have a single point of contact in the event there is an issue. For instance, if you receive data from an impact recorder indicating rough handling or excessive vibration, you can work with the multimodal provider to solve the problem.

Faster Delivery Times

There are times when intermodal transport may be the faster option, but multimodal transport is often the faster option. Federal regulations govern how long a single carrier can move freight in one trip under the Electronic Logging Devices (ELD) Mandate. Essentially, this only allows freight to be in motion for a certain amount of time before the operator must rest. It’s mostly applicable to trucking, but it does add time to truck transport.

When a driver can transfer a load to another form of transport, like a train, though, the shipment is able to keep moving despite those limitations. Instead of sitting idle for 24 hours or more while the truck driver rests, the shipment reaches its destination more quickly. Using multiple modes of transportation can also cut shipping time for shipments traveling long distance. For example, shipping partially by air cuts a significant amount of time, even when the last leg is handled by truck or train.

Getting the Most from Multimodal Shipping

Using multimodal shipping can be beneficial to your company, but it does require proper management. That begins with evaluating all of the modes before selecting one for your shipments. Not all shipments are well suited for all modes, and what works for other companies may not be ideal for yours.

It’s also important to connect your transportation management system with the carrier, so you can effectively monitor your shipments at every stage. All of your freight processes should be data-driven and based on real-time, contextual data collected at every step of the shipment process. Armed with this information, you can implement efficient, cost-effective shipping policies and procedures that align with your company’s strategic goals and budget.

Three Pieces of Shipping Equipment Your Business Should Consider Investing In

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StrategyDriven Tactical Execution Article | Three Pieces of Shipping Equipment Your Business Should Consider Investing InFor many businesses, shipping equipment is an afterthought. They are more concerned with their actual product, that they do not spend a lot of time thinking about the products they use to wrap up, ship up, or transport their items in. As a business owner, there are a variety of different types of shipping equipment and products that can make your life easier and help to ensure your products arrive at the destination in pristine condition. Here are a few of the pieces of shipping equipment that your business should consider investing in and how they can help to improve your business.

Custom Pallets and Skids

Pallets and skids are a base or foundation that you can stack your products on as you prepare to ship a mass load to a business or location. While pallets and skids are pretty standard, not every pallet or skid works for every product. Your products may be extremely heavy, and a traditional pallet cannot support the weight of the items you are placing on top of it. Your items may also be awkward shaped, and you may need something longer or wider than a traditional pallet or skid. Having custom pallets or skids created helps to ensure that you can properly stack your products to preparing them for shipping, without having the pallet break or run the risk of awkwardly sized items tumbling off the pallet during shipping.

Vapor Barriers

Another piece of shipping equipment that your company should consider investing in is vapor barriers. Some items are more susceptible to weather elements, including temperature changes and humidity. The humidity can get in your packaging and cause an item to rust or eat away at the finish. A vapor barrier can be custom made to fully protect your products so that they remain safe during the shipping and transportation process, no matter what type of weather elements the drive runs into.

Custom Packaging Material

The final type of custom shipping equipment that your business should consider investing in is custom packaging material. This includes boxing and foam to properly protect your items during the transportation process. Items that are not properly packaged can bounce around during transport. Your customers may get broken items. Buying custom packaging materials helps to ensure that your item is protected inside the box and the box properly fits the item being shipped or transported, to dramatically decrease the chances of damage occurring during the shipping or transport process.

There are many different types of shipping equipment that can help to make your life easier when you are shipping out the items you make and/or that can ensure that your items arrive at your buyers’ location without being damaged. If you are ready to learn more about the various types of shipping equipment that are available or you are ready to place an order for items that may be beneficial to your business, located a trusted shipping company that can help get you started.

The Use Of Ceramic Filters In Industry Today

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StrategyDriven Tactical Execution Article | The Use Of Ceramic Filters In Industry TodayThe ceramic filter is a clever and innovative technology that is widely utilized across various industries today. It provides practical functioning advantages as well as competitiveness in a commercial sense due to the pollution reduction applications. This is concerning industries and companies who utilize processes whereby there are gases involved of a heightened temperature – especially those that are subject to strict emission limits.

Filtration at high temperatures is something that is needed and thus applied in many processes. For example, in advanced coal-fired power plants it is used to stop the gas turbines from becoming damaged. Another example is the cleaning of synthesis gas from biomass. As well as this there are companies needing to meet stringent environmental demands too.

Ceramic filters are well established and popular for hot gas filtration for the reason that they possess outstanding thermal and chemical constancy. In addition to this, another reason ceramic filters are preferred is because of their high filtration effectuality and their long-term strength and sturdiness. When using ceramic filter elements there is definitely the possibility for filtration at extremely high temperatures and pressures. Not only is this possible, but filtration under chemical aggressive conditions is achievable too.

The reduction of emissions is something that is particularly important. When it comes to companies using hot air gases there are very stringent limits in place. Not only this, but with the heightened media attention given to pollution in the modern day, companies need to do their part if their reputation is to stay intact. Thankfully, a hot gas ceramic filter provides the perfect solution. They actually have the capacity to get rid of submicron particulates that are as minute as a nanogram. Not only is this advantageous, but so too is their ability to remain stagnant when in operation. Because they do not flex this eliminates the issue of potential submicron particles entering the substrate.

The good news is that there are several companies throughout the country who offer ceramic filters. You can learn more here about the different parts that make up this equipment. When determining what company to go for this is a decision you need to make carefully. There are lots of different hot gas ceramic filters available for you to choose from. Of course, the benefits in general have been assessed in this article. Nevertheless, some ceramic filters are more effective and efficient in comparison to others.

What should you be looking for? You need to assess how compact the system is in order to be ensured that it will fit into your site. In addition to this, what is the highest temperature of filtration possible? Furthermore, you should read up on the average amounts of particle reduction. Aside from this, other points worth bearing in mind are maintenance and ease of installation too.

There is no denying the effectiveness and efficiency of the ceramic filter. Filtration is deemed a necessity in an array of industries that utilize hot gases, and through reading this article you should be able to see why ceramic filters have achieved a status as the most popular method.

What Is Yield Management and Why Is it So Important?

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StrategyDriven Tactical Execution Article |Yield Management|What Is Yield Management and Why Is it So Important?A service remains useful for as long as it is in use

In business, most pertinent is to sell off goods and effectively market services as quickly as they are available on the market.

Some services and businesses offer perishable goods that can expire on the shelves. However, it’s different for the hospitality industry. While it is almost as though the services that hospitality businesses offer can never expire, this simply isn’t true.

There are periods where the usefulness of a service runs out as long as it remains unused. In the hospitality industry, services and products are only useful when utilized and, of course, paid for. Plane tickets, train tickets, hotel rooms, etc., are only useful if people pay for and use them.
However, these services’ market demand is not fixed and can go for long periods with minimal requests. The fixed prices of these services do not allow the business to make up for the losses incurred on days where demand is deficient.

To remedy this situation in the hospitality industry, a new pricing strategy was developed; the Yield Management strategy.

StrategyDriven Tactical Execution Article |Yield Management|What Is Yield Management and Why Is it So Important?What is yield management?

What is yield management and how does it affect your business?

A simple answer will be that Yield Management is a pricing strategy developed for the hospitality, air travel, tourism, and related industries that helps to produce maximum returns from their services. However, that may be an answer that barely scratches the surface.

So, really, what is yield management?

Yield management runs mostly on the tilt of the supply and demand of the market. When the demand exceeds supply, the prices increase, and when the supply exceeds the demand, it drops. It first began from the air travel industry.

Have you ever tried to book a flight at the last minute and found that the price of the ticket is now jaw-droppingly higher than it was a few days ago when you procrastinated on concluding your booking? You most likely have been affected by yield management.

Many passengers aboard the same plane are most likely not paying the exact fare for the flight. Many took advantage of some unique early-bird discounts and other special pricing plans offered to passengers for booking early.

Unfortunately, a few people would still have to pay higher than those who booked early flights.
Yield management involves strategically editing prices of goods and services in the hospitality industry to match with the right customer in varying instances of demand and supply.

This works in such a way that businesses can balance their lost revenue by tweaking their prices when demand is less than supply and vice versa.

Factors that may help to influence yield management

Numerous factors are responsible for the change in demand and supply in business
Services in this industry that have benefitted from yield management include car rental services, railroad services, tourist services, cruise lines, hotels, and airlines. Many factors can influence the need to change prices in business.

One factor that influences yield management is the weather. For example, you would find that Uber prices get spiked when it’s raining because everybody is looking to be dry and safe in a vehicle and still get to their destinations.

Paying a little bit extra for this service that would ease their inconvenience at that moment would seem insignificant. The time of the year is also another critical decision-influencer when it comes to the prices of many services in the hospitality industry.

During Christmas, passengers are willing to pay exorbitant prices as long as it guarantees that they would get home to celebrate festivities with their families. Another one is the level of demand.
Tell people that only two available planes are willing to take them out of a virus-ridden town and watch flight tickets get sold out in minutes, no matter the price cap.

Competitors can also create a distortion in the level of demand for a product or service. Is there a new company on the block offering similar services like yours? Depending on the glitz and affordability attached to that new company, yours might suffer a drop.

With yield management, you can rectify the situation and show the new kid on the block who’s the boss. In a nutshell, yield management offers different clients different prices for the same product at different times based on varying factors to maximize business returns.

How do you implement yield management in hospitality businesses?

Find an equilibrium price zone where you can maximize your revenue
Yield Management has a very streamlined focus and approach to profit-making in business. It ensures that you get the best possible revenue or returns by critically analyzing your volume of sales and selling price.

In the hospitality industry, businesses use this demand-forecasting technique to determine how to offer prices to their customers and still make the highest profit possible. Many companies offer the highest prices to customers and examine how many clients are still able to book for their services despite that high price.

If they find that the demand for the service drops below the supply, they modify the price again to accommodate more customers who can afford the new, reduced price.
To be a great yield manager, finding an equilibrium price zone where you can maximize your revenue is key. Once you’re able to get this equilibrium price, your business is already working at its max capacity.

The best way to do demand-forecasting is not by guesstimating but doing thorough research from existing data and trends gathered from customer behavior and purchase patterns. Using historical data to calculate how much price should vary to accommodate fluctuating demand should be your go-to strategy.
It helps to effectively predict and make demand-forecasts so that you can strike a balance between the availability of your product/service and the price.

Why is yield management so important?

Yield management boosts revenue significantly

For hotel managers, cab hire services, tourist agencies, etc., being able to manage your yield effectively can not be overemphasized. It has so many benefits for your business that boosts revenue significantly.

Let’s examine a few of them below:

1. Flexibility of pricing

Yield management boasts of a flexible nature, and this affects both customers and the business positively. Suppose there’s a drop in demand for any product or service, with accurate yield management, the company can modify its rates to an equilibrium price to accommodate more bookings or orders.

This way, you can serve more clients and bring in revenue at the same time. Offering discounted rates or double-service in one package at a slightly reduced price can be an effective way to entice your customers back.

While you may not make as much as you would during a busy period, you’re able to make some revenue, unlike when there are no bookings at all. You also manage to satisfy your clients who may feel like they got a great package at lesser rates. It’s a win for both ends.

2. Improved seasonal pricing

This is also an offshoot of the flexibility of this concept.

Because customers are willing to do anything for some particular services in some peculiar seasons, a hike in price during these periods will not affect demand, such as high costs of flight tickets and hotel rates during the rush-hour Christmas season.

In this period, where the business is in high demand, you can make more revenue than when there was lesser demand for the service. Customers can also receive the services they need, howbeit that they have to pay slightly higher for it.

3. Enhanced forecasting skills

WIth accurate historical data analysis and customer purchasing patterns, your business is able to accurately demand-forecast. This way, you learn to know how to better prepare for times where business may not function at a high.

By using automatic forecasting strategies and techniques to keep track of the different parameters or factors that affect demand, you are able to make more accurate predictions. Tracking these parameters by hand may lead to errors or inaccurate data.

You would find useful cloud solution software like Bedvine.com to help you monitor a wide range of these factors simultaneously for the best results.

4. Enhanced coordination among sales channels and the customer relations team

With accurate yield management, there becomes uniformity across board, from the front desk to the prices on the different sales channels. There’s no case of one price from the customer relations team and a different one at the website or on the travel advisory.

You’re also able to make planned and coordinated responses about prices when guests or clients call to place reservations or inquire about bookings. It helps to plan ahead to determine when there will be discounted prices or not and how much discounts to take off the prices.

Conclusion

It’s easy to make losses in the hospitality industry, and it’s also easy to make gains. When you realize that it’s impossible to run at the same demand level throughout the year, the need for a middle ground becomes essential.

Yield management serves as an in-between for customers and businesses where you try to create a balance between demand and supply.

The goal is to make a maximum profit in business while also satisfying your customers by offering a reasonable price in exchange for your services as the market demands.

Five Advantages Of Cloud Computing For SMEs

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StrategyDriven Tactical Execution Article |Cloud Computing|Five Advantages Of Cloud Computing For SMEsThe importance of cloud computing is overlooked by many businesses, it is vital for small and medium businesses to function at their best.

Why is cloud computing so important for SMEs? The idea of the cloud is that it is a network of remote servers that will allow you to access shared applications, storage, and other computing resources via an internet-based facility. The cloud replaces the need to have to install additional hardware of your own. The cloud is all around you, operating in your day to day life.

Everything is moving into the cloud. This is because there are a lot of cloud computing use cases that will make life a lot easier for users and businesses alike. It can improve cash flow, increase efficiency, and offers a lot of other advantages.

Flexibility

When you own a business, have the needed flexibility is essential. This is where cloud computing for SMEs can come in to help you. When you’re on the go, you know that you can rely on the cloud to give you access to modify and save the files you need from any device wherever you happen to be.

If you want to access virtual resources like protected storage, web applications, or redundant firewalls for example, then you can do this by using any device that is connected to the cloud via the internet. Activity like this can give any small business the upper hand on the competition.

Portability – Remote IT Infrastructure

As part of the advantage of flexibility, the cloud offers near limitless computer resources to its users regardless of their location.

The ability to allocate an entire server farm’s equivalent of computer power for your project or the task you need to do with just a few clicks is very appealing. Every major player in business uses a platform like this to give its users and internal employees access to secured data.

Data Security

Storing files and your important data via the cloud is often safer than more traditional storage on a phone or a computer. There are often many laters that are put into cloud computing security so the best cloud service providers can offer infrastructure will protect all your data.

Software Updates

Automatic software updates are another bonus that you can get from moving across to a cloud computing system. A key thing that can damage the productivity of a business is running out of data software. A lot of owners neglect this step, so it’s a common issue. With the cloud, it’s the job of the cloud service provider to manage any needed maintenance and software updates without you having to worry about it.

Environmentally Friendly

Cloud computing can easily be scaled to match your business needs. Before the cloud, you had to buy physical machines yourself, pay to power the whole server room, and pay employees to handle maintenance. Now, you only need to pay for the resources that you actually need. This helps the environment by reducing your carbon footprint.