New Name Marks Continued Growth and Evolution for Global Trade Management Leader
Management Dynamics, a leading provider of Global Trade Management solutions, today announced that it has changed its name to Amber Road. The name change comes during a year of rapid expansion, marked by a 40% growth in employees, a 325% increase in European bookings, and the opening of a flagship office in Tysons Corner, Virginia. This breakout year is anchored by a 33% compound annual growth rate (CAGR) in overall revenue for the past decade.
“Today, our SaaS-based solutions span fourteen software products that include global transportation management, import/export compliance, supplier management, supply chain visibility and a content knowledgebase covering trade regulations and tariffs for more than 120 countries, “ said Jim Preuninger, CEO.
A recent article in Supply Chain Digest (June 23, 2011) discussed results from a Gartner study that are interesting from the perspective of global trade management. According to Dan Gilmore, SC Digest editor, of the 300 respondents “34% say they consider supply chain the leading source of their company’s competitive advantage, 40% identify SCM as one of several sources, and 26% see it as largely a commodity function.”
Further, according to the survey results, improving supply chain productivity and efficiency topped “cost reduction” as the number 1 supply chain priority, while cost reduction was number 2. As shown in the table, improving efficiency is expected to dominate in 2012 as well.
Source: Results from Annual Gartner-SCDigest Supply Chain Study
One sure way to improve productivity and increase efficiency is to think beyond the domestic sphere and optimize your supply chain for cross-border transactions. With the increasing complexity of trade regulations, variable ocean freight rates and fluctuating assessorials, manual processes become a drag on productivity and can negatively affect competitive advantage on a global scale.
Poor visibility into shipment status, insufficient knowledge of trade regulations and incomplete forms can have a real impact on the flow of goods if shipments are delayed at sea, improperly licensed or held up in Customs. Technologies that automate carrier selection, perform restricted party screening and enable correct product classifications are going to make a significant contribution to both increasing productivity and reducing costs.
Organizations looking for that edge in competitive advantage should look to global trade management as a way to get it. Any company that depends on parts or goods sourced from outside their home country can dramatically cut costs and improve efficiency with automated trade processes.
Global Trade Management Leader Honored as Top Innovator Partner in the Apparel Industry
Management Dynamics, a leading provider of Global Trade Management (GTM) solutions, announces that Apparel Magazine has named its customer Perry Ellis as a 2011 “Top Innovator,” and Management Dynamics as a “Top Innovator Partner.”
“Perry Ellis was chosen as a Top Innovator because they recognize the significant role innovative technology plays in a company’s competitive strategy,” said Apparel editor Jordan Speer. “By partnering with a solution that can scale as they grow, Perry Ellis is raising the fashion industry standard for a more efficient global supply chain.”
In response to increasing transportation volumes, Perry Ellis began a cost-cutting initiative in 2006 that was designed to identify and eliminate carrier freight overages. The company implemented Management Dynamics’ International Transportation Management (ITM) solution to calculate bottom-line shipment costs and compare multiple routing and service options for service contracts. As a result of the implementation, Perry Ellis identified and recouped $220,000 in freight overages in the first year.
“At Management Dynamics, we’re focused on driving supply chain performance improvements that result in hard dollar savings and competitive advantage,” said Jim Preuninger, CEO of Management Dynamics. “We are thrilled that our solutions have driven significant savings to Perry Ellis and we’re happy to see them recognized as a supply chain leader.”
Apparel Magazine’s fourth annual Top Innovators Award honors companies in the apparel industry for demonstrating innovation and exceptionality through technology, new products or other outstanding executed business strategy. Apparel’s special “Innovators” issue profiles each individual winner and highlights the Innovator Partner who has played a role in the honoree’s success. To view the online issue, visit: http://bit.ly/kc116a.
Management Dynamics’ CEO, Jim Preuninger, was featured as an IT Thought Leader in last month’s issue of Inbound Logistics. In the feature, Mr. Preuninger discusses trending topics such as the role of technology in the optimization of global supply chains, and steps to simplify the import or export process.
These [global trade management software] tools provide an immediate and visible return on investment, enabling companies to reduce costs, improve operations, shrink manual data entry errors, facilitate cross-border movements, and improve customer service. In addition, reducing cycle times, eliminating bottlenecks, improving distribution networks, lowering out-of-stocks, and determining the best way to ship freight can also lower emissions, an ecological goal for many companies.
He also offers some sound advise for companies who may be looking to take the next step toward globalization:
Companies no longer have to take on all facets of international trading at once. And with the advent of cloud computing, otherwise known as Software as a Service (SaaS), companies can collaborate with trading partners around the globe with minimal start-up costs and headaches using a pay-as-you-go model.
We have added a brand new video to our Youtube Channel! Heidi Lindemann, an Ocean Procurement Manager at SDV, spoke with the Journal of Commerce at the March 2011 Trans-Pacific Maritime Conference in Long Beach, CA. She discusses how SDV uses Management Dynamics’ International Transportation Management solution for Logistics Providers for quoting and building sales proposals.
SDV has seen key benefits since implementing the solution, including:
Expedient response times to customers with competitive quotes
Visibility to contracts across 40,000 rates
Visibility to transportation costs on a global scale
The recent earthquake, tsunami, and nuclear meltdown that rocked Japan have aversely affected just about every aspect of life and business on the powerful island nation. Unfortunately, the shipping industry was not the exception, and Japanese air and ocean transporters are facing a multitude of complications in the aftermath of the unprecedented disaster.
Thirteen Japanese ports were severely damaged by the natural disasters, including Sendai. Reconstruction has already begun at most of these ports, which only handle less than 2% of Japan’s total container volumes, and government officials hope operations will resume soon. The reconstruction could not come sooner, and at least nine vessels carrying grain bound for Japan (the world’s number one importer of grain) are unable to discharge cargoes due to problems at the country’s ports.
However, the ports’ conditions are not the main issue, as threats of nuclear radiation have caused many global vessel operators, such as Maersk Line, to avoid Japanese ports altogether.
Other shippers are shifting their from ocean to air, braving higher rates and limited capacities to send critical cargoes to Japan. This strategic shift may just be temporary however, as the earthquake destroyed key fuel facilities and has caused a major shortage across the nation. An International Air Transport Association (IATA) spokesman said “Most Japanese airports have fuel supplies for the next 10 days”, and the IATA is currently deploying its resources to aid in several critical areas, including the procurement of jet fuel.
In case shortages grow worse, the IATA has briefed airlines on agreed rationing strategies.
A third group of shippers have cautiously continued shipping in and out of Japan. Larry Wilson, a spokesman for Boeing’s supplier management division stated that “We have not made any changes in shipping, and are continuing to monitor the situation.”
Due to the ambiguity of the situation, there is no telling how long the shipping industry will be severely limited. The one thing that is known, though, is that each day ocean carriers avoid Japanese ports and air carriers stay grounded, the world’s third largest economy will continue to lose ground.
What: Free Webinar: Best Practices for Managing Free Trade Agreement Management Processes When: Tuesday, April 19 at 2pm EST Where: Online
Given the advantages of NAFTA and other free trade agreements, exporters and importers seek to widen the advantages of reduced duty impact by participating in trade agreements. After surveying import and export compliance managers from 200 firms, Customs & Trade Solutions Inc. and Management Dynamics have uncovered key trends in managing the complex Free Trade Management process.
The insights provided in this webinar will open the door to understanding how firms operate NAFTA qualifying programs, where the expertise exists within their firms and the savings and struggles associated with maintaining the program from year to year.
The presenters will address key findings from this industry benchmark study and discuss best practices for implementing and optimizing NAFTA while divulging key statistics, such as:
86% of all firms used a manual process to manage their NAFTA data
Only 34.3% of all companies were confident of the information they shared with Customs and their Customers through the NAFTA certificate
32% of respondents have had their customs group audited in the last 3 years
Presenters will include:
Suzanne Richer, President, Customs & Trade Solutions, Inc. Suzanne M. Richer is a licensed Customs Broker with over twenty five years in international supply chain management. Ms. Richer has counseled corporations involved in the importation of Pharmaceuticals, Automotive Vehicles and Parts, Electronics, Wearing Apparel and Machinery. She has worked with clients during their closing audits with U.S. Customs, assisted companies in participating in cargo security programs such as C-TPAT at Tier 3 levels, and counseled corporations on international trade law issues.
Scott Byrnes, Vice President of Marketing, Management Dynamics Inc. Scott Byrnes is Vice President of Marketing for Management Dynamics, a leading provider of global trade management software and services. He has spent the past 20 years in various sales and marketing roles at global software companies and professional services firms.
Scott began his career with Andersen Consulting (Accenture), where he focused on supply chain process improvement for several large consumer packaged goods companies. He then joined Manugistics, a supply chain management software provider. During his five years at Manugistics, Scott held a variety of leadership positions in both services and sales. From Manugistics, Scott moved to Vastera, a provider of global trade management solutions. During his four years at Vastera, Scott transitioned from sales into marketing, and helped guide the company through a successful IPO.
Scott has a strong understanding of both supply chain and global trade management issues.
Moderator: Lara Sowinski, Managing Editor of World Trade Magazine
Posted
on February 28, 2011, 4:38 pm,
by Emily,
under TMS For Shippers.
There are a handful of shipping lanes in the world as vital as the Suez Canal, which serves as a linchpin for East and West trade. The next shortest route for shippers traveling from Asia to Europe or vice-versa is around Cape Horn at the bottom of Africa, adding a week of time and costs to shipments.
The Journal of Commerce’s cover story this week, Shipping Chokepoint Risks, explores the volatility of shipping ‘chokepoints’ such as the Suez Canal, which runs through the recently revolutionized Egypt. Although no critical disruption has yet to occur due to the unrest in Egypt and other Middle Eastern countries, the events that took place earlier this year highlighted the risks and costs associated with a potential closing or delay in the shipping lane which received 3,031 container ship transits during the canal authority’s fiscal year ending last Sept. 30, 24% of the total for seagoing vessels.
The article brings to light the Arab-Israeli War, which shut down the Suez canal from 1967 to 1975. This resulted in a shortage in shipping tonnage and a spike in tanker rates for goods such as oil. If a similar event were to happen today, with the growing demand and dependence on Middle Eastern oil, the results would be much more severe and would bruise the global economy.
Closure of the Suez or Panama canals would be a supply chain disaster. Shippers’ costs would rise and retailers and manufacturers would face interruptions in deliveries of products and components over the short term and longer lead times over the long term. West Coast ports offer U.S. importers and exporters a landbridge alternative to the Panama Canal, but there’s no similar backup in case of a Suez shutdown. …
“There’s no Plan B in terms of ability to handle the volume, other than to go around the Cape of Good Hope. Even that would be a stretch, because of the number of vessels you would need,” [said Philip Damas, Director of Liner Shipping and Supply Chains at Drewry Supply Chain Consultants].
While shippers are usually prepared for supply chain disruptions related to internal business processes, or things they can somewhat control, it is also imperative that companies looking to avoid major losses due to unexpected closings or delays must formulate alternative emergency plans before they happen. For instance:
“Many shippers have a policy of not putting more than X number of containers on a single ship, particularly during the holiday season,” he said. “If something happens to that ship, they want to have limited exposure.”
Some companies have hedged risks on Asian suppliers by allocating a small share of their production to countries closer to markets. Apparel retailers are signing supplementary sourcing contracts with manufacturers in Central America or Mexico to serve the U.S. market, or in eastern Europe to ensure European store shelves remain stocked.
Don’t miss Advances in Supply Chain Software and Technologypresented by Supply Chain Virtual Events, the free virtual conference taking place online this Thursday, February 24, 2011 (11:00am – 4:00pm ET).
And, while you’re at the virtual conference, please check out the GTM Webinar at 1:00pm EST: How Global Trade Management (GTM) is Meeting the Compliance Challenge. In this webinar, speakers Susan Waskow of The Global Trade Academy and Suzanne Richer of Customs & Trade Solutions Inc. will discuss the latest news on global Customs initiatives; how applying GTM has benefited global shippers; and new GTM functionality delivery and functionality enhancements.
American Shipper has released a new report, based on research gathered by a survey of nearly 300 transportation managers on their international and cross-border transportation management systems, best practices, and processes. ITMS Benchmark Study: Technology Meets the Challenge of an Unanticipated Freight Volume Rebound takes a look at how successful firms are managing international transportation, and looks for emerging trends that will develop in the near future.
Key focus areas in the study include:
The number – or “patchwork” – of systems leading firms are using to manage ITMS
The business benefits of connecting the procure-to-pay cycle
The increased volumes ITMS users were able to handle in 2010
Management Dynamics, a leading provider of Global Trade Management solutions, today announced that it has changed its name to Amber Road. The name change comes during a year of rapid expansion, marked by a 40% growth in employees, a 325% increase in European bookings, and the opening of a flagship office in Tysons Corner, Virginia. This breakout year is anchored by a 33% compound annual growth rate (CAGR) in overall revenue for the past decade. ![[Facebook]](http://www.internationaltms.com/wp-content/plugins/bookmarkify/facebook.png)
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