Trax Expands Leadership Team With CRO Hire

Trax Technologies, a global innovator specializing in harnessing logistics data and insights to improve supply chain performance, announced today the company has expanded its’ leadership team with the appointment of Christopher Rajiah as the Chief Revenue Officer. Rajiah is responsible for setting and executing the company’s go-to-market strategy in order to scale the organization and solidify its position as the market leader for freight audit & payment and supply chain data management.

The executive appointment follows the additions of Elizabeth Hart as CAO and Benjamin Morens as COO in 2016. The expansion of the leadership team comes as Trax Technologies experiences significant product adoption as it transforms the freight audit and payment process to improve supply chain performance. Trax provides freight audit and payment services as a cornerstone of its cloud-based logistics performance management solution combining leading controls, supply chain data management, financial classification, and business analytics to deliver accurate, meaningful and actionable intelligence to its global customers.

“Chris’s extensive experience in successfully driving and executing global sales initiatives and growing strategic partnerships will be incredibly valuable as we continue to innovate, develop new capabilities, and extend Trax’s industry leadership,” said Don Baptiste, Trax Technologies CEO. “I’m excited to have him on our team.”

Rajiah joins from Equinix, where he served as VP of Worldwide Channel Partners and Alliances. Prior to Equinix, Chris was SVP Sales & Marketing at ViaWest, as well as the Vice President of Worldwide Partner Sales at Rackspace Hosting. Chris also spent 9 years at Extreme Networks, where he started his career, and, eventually, led their North American channel and worldwide strategic alliance teams.

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2017 Parcel Express Roundtable: Paying for peak performance

It can be hard to believe that very much happens in a year, but that theory is put to the test when it comes to the parcel express market.

In fact, over the past 12 months we’ve seen major changes in pricing from the parcel duopoly of FedEx and UPS; the accelerated emergence of regional parcel players; and don’t forget we’re all watching the increasing power and reach of e-commerce giant Amazon as it grows its own delivery capabilities globally.

These developments require parcel shippers to do whatever it takes to stay on top of their parcel game from both a financial and operational perspective. To help them along, Logistics Management has gathered Jerry Hempstead, president of Hempstead Consulting, a parcel advisory firm; David Ross, transportation and logistics director at investment firm Stifel; and Rob Martinez, president and CEO at Shipware, an audit and parcel consulting services company.

Over the next few pages, our experts offer their insight into what’s driving parcel market trends and offers some practical advice for how shippers need to re-adjust to ever-changing market conditions.

Logistics Management (LM): How would you describe today’s parcel marketplace?

Jerry Hempstead: All of the parcel carriers are doing well in volume and earnings—even the USPS is making money if you back out the Congressional mandates. And it’s clear that e-commerce is driving the volumes. To top it off, service levels this year are at record levels and are predictable and consistent.

My observation is that there’s no statistical difference between the service performance offered by FedEx and UPS across a year’s worth of activity, although FedEx offers a faster delivery on ground to about 25% more city pairs than UPS. This pressure on speeding up the promise and refining the networks to make the magic happen will only improve the consumer experience in parcel services.

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The Future Of Performance Management Is Not One-Size-Fits-All

In 2013, CEB research found that 86% of organizations had recently made significant changes to their performance management system, or were planning to. In 2014, a Deloitte survey found that 58% percent of companies surveyed did not think performance management was an effective use of time, and many media outlets jumped on the opportunity to air their grievances.

Finally, the rising wave of discontent seemed to crash in 2015, as a slew of large organizations like GE, Accenture, Netflix, and Adobe all scrapped their age-old annual performance management processes in favor of more continuous feedback systems. And many others followed suit.

But, was it the right move for everyone?

Last summer, I wrote an article on this topic myself, urging business leaders to really consider the implications of following these organizations. The issue, in my opinion, is not that these organizations did something wrong. Rather, the risk is that many leaders misinterpreted these stories to mean that they should abandon performance management altogether.

One thing is clear: the future of performance management in the American workplace is still very much in question.

For more insight into this important topic, I recently sat down with a handful of thought leaders in the performance management space, including Rob Ollander-Krane, Senior Director of Organizational Performance Effectiveness at Gap, Inc., Nigel Adams, Global Chief Talent Officer at Razorfish Global, and Amy Herrbold, Senior Director of Organizational Development at Kellogg. Together, we discussed the future of performance management to understand, from their perspective, why changes to this process are long overdue.

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Accelerating Corporate Performance Management – Partnering Finance & Supply Chain

Corporate Performance Management (CPM) activities time-consuming and labour-intensive, usually because they rely on spreadsheets, old data and outdated manual processes. With financial controls growing increasingly tighter, CPM must be performed effectively. Recently there has been talk of needing Finance and Supply Chain integration to achieve increased corporate performance with them now being key business partners.

The Corporate Performance Management Summit will take place on January 27 & 28, in Miami. Over the two days, the summit will gather over 120+ Finance & Supply Chain professionals to discuss the challenges related to internal performance management and external decision-making. There will be 25+ industry expert keynote speakers, interactive workshops with industry pioneers and over 8 hours of networking opportunities to take advantage of.

Ever considered how to execute performance management initiatives? How to manage external factors in performance management? Or even the role of the CFO in corporate strategy? The summit will explore hot topics such as these, as well as explicitly covering how CFOs can drive strategic performance through acquisitions and harness data to drive decision making. A key component to this summit will also be face-to-face communication and the opportunity to learn from your peers in a truly open environment. ‘The creation of a thought-sharing and interactive setting was always a key aspect for me when creating this summit,’ said Aaron Fraser, International Events Director. ‘I wanted to cultivate a forum for cross-pollination of ideas and advice for those involved in corporate performance management”.

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How visibility can drive supply chain performance

How visibility can drive supply chain performance

At its heart, supply chain management requires a balancing of operational efficiency, customer satisfaction and quality. Managing the true cost to serve each and every order is the aspiration to allow better negotiation and value creation across the supply chain. Customer and consumer centricity helps anticipate product and service requirements. But supply chains are becoming more extended and complex with a consequent increase in risk and the need for resilience. There are multiple data sources making it difficult to manage and measure end-to-end processes and metrics. Aligning priorities through integrated planning remains pivotal but there is an explosion of data available that needs to be incorporated and the value extracted to understand how supply-demand issues impact profit and revenue targets.

Organisations are looking to enable better and more consistent decision-making across complex processes with diverse systems and data. Many are leveraging business intelligence (BI) platforms to give them the capability to make decisions across the organisation, including environments where mobility and access to decision-critical information on the go is crucial. Putting the information in the hands of the people on the front line – those managing supply chain processes – is key to enabling decision making at the point of decision. But this requires synchronising an enormous amount of data that comes from many systems and sources in a way that it can be easily consumed by people who need to act on the insights.

Read more at How visibility can drive supply chain performance

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Supply Chain Impact on Shareholder Value: A Performance Paradigm?

If you ask a supply chain leader how they impact their company’s performance, the response is almost muscle memory, ‘reduce cost and inventory while improving service.’ If you ask the same leader how they impact shareholder value, there is often a long pause.

To shed some light on the subject, the APICS Supply Chain Council conducted a live poll during its jointly hosted Best of the Best S&OP Conference in June. Two poll questions were developed to examine attendee perception regarding shareholder value. Almost two-thirds of the respondents reported that they had some form of supply chain scorecard. Conversely, only three-percent reported that they linked supply chain performance to shareholder metrics.

This dialogue with supply chain leaders has sparked a number of research questions, especially in light of the fact that supply chain executives share a seat in the C-suite, including:

1. What are the key shareholder metrics that matter?

For a publicly traded company the ultimate measure is earnings per share or stock price. For privately held companies, the focus tends to be on the attributes that relate to earnings per share: growth, profit, and return.

2. What are the supply chain performance levers that intentionally add to shareholder value?

The Growth attribute is the conundrum that keeps supply chain leaders up at night. Traditionally, the assumption was that great service level, including both lead-time and reliability, didn’t lose sales and potentially helped grow share of customer’s ‘shelf space’ by having predictable availability.

3. How does that affect your supply chain strategy?

The correlation between supply chain excellence and earnings per share certainly is intuitive, but there is data to suggest that even the best supply chain companies still are not maximizing potential shareholder value.

Read more at Supply Chain Impact on Shareholder Value: A Performance Paradigm?

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External Insights Critical to Effective Supply Chain Performance

Traditional forecasting models that leverage historical data to predict future performance are the tools used by most supply chain executives to plan critical functions, yet these predictions are frequently inaccurate. In fact, research from KPMG International, in cooperation with the Economist Intelligence Unit, shows that most quarterly forecasts are off by 13 percent—meaning that supply chain managers are basing their decisions for ordering materials and scheduling distribution on erroneous projections. The result can mean surpluses or shortages, potentially costing companies millions either way.

There is a better way to anticipate supply chain demands—one that can vastly improve projections, and decrease the discrepancies between forecasting and reality, therefore helping supply chain executives perform their jobs more effectively. Few companies take into account macroeconomic factors, global manufacturing activity, consumer behavior, online traffic, weather data, etc. when making business projections. Yet companies that do identify leading performance indicators using such external data earn more than a 5 percent higher return on equity than those that use only internal metrics. Leveraging external factors, in addition to internal performance measures, is proven to result in more accurate, effective forecasts. Not to mention that improving forecast accuracy can represent huge bottom-line benefits. For a billion dollar manufacturing company, for example, improving forecast accuracy and overall return on equity even 1 percent can equal a $3 million increase in net income.

Forecasting accuracy, improved through external factors, benefits multiple business functions—from financial operations (shareholder value) to human resources (adequate staffing) to marketing (product innovation)—but is especially impactful on the supply chain management function.

Improves Inventory Management

Improved forecast accuracy using external drivers equates to reduced inventory management costs, ultimately improving bottom-line profit. By accounting for external factors, companies can see a 10 to 15 percent improvement in forecast accuracy, significantly decreasing the cost of excess inventory. By ordering raw materials based on correct projections, supply chain managers no longer have to worry about discounts necessary to move excess inventory or the cost of warehousing excess materials because they are ordering accurately from the start.

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Why Supply Chain Visibility Tools are a Good Investment

Global supply and demand networks introduce distance, cultural and time-zone challenges, creating a need for greater visibility. Moreover, businesses are under constant pressure to cut supply chain costs and improve cycle times while meeting customer expectations. Ongoing mergers and acquisitions create even more complexity as each new division finds itself operating in silos and unable to leverage economies across the organization.

According to a recent report by Lora Cecere, founder and CEO of Supply Chain Insights LLC, two of the top global supply chain business pains for companies are increasing regulations and compliance and decreased clarity on decision-making across global and regional teams. Other major pain points included the ability to effectively use data; product quality and supplier reliability; availability of skilled people to do the job; and risk management.

To manage the opportunities and risks requires three supply chain visibility capabilities: quick access to global supply chain information; proactive supply chain alerts and the ability to manage by exception; and efficient collaboration with global trading partners. This type of visibility is more than tracking and tracing on the transportation leg. It’s following a product concept and subsequent purchase or sales order from design to final delivery, with all the compliance and finance steps along the way.

With easy access to real-time information, a company can monitor performance across the commercialization and purchase order lifecycles, including sourcing, logistics and import and export operations. With this insight, a company can improve its understanding of the impacts of decisions across its supply chain and respond quicker to potential issues. Similarly, supply chain visibility tools can help identify key metrics and create alerts to manage safety stock levels and minimum/maximum inventory levels, for example.

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Tapping into the ‘big data’ that can help Greek supply chains to be more agile

Supply chain platform provider GT Nexus has begun tapping into the big data that has accumulated in its system to help shippers, carriers and forwarders provide “assurance of supply”.

In an interview prompted by the possibility of a Greek exit from the Eurozone, GT Nexus’s EMEA director of marketing, Boris Felgendreher, said the Greek crisis bore all the hallmarks of major disruption – the sort that shows the limitations of supply chain planning.

“This sort of situation puts a premium on being agile, in respect of companies being able to move from one sourcing location to another, and that is always difficult. This particular disruption has an added element in that it is financial,” he said, alluding to the fears of a ‘Grexit’ and the problems Greek companies have with making and receiving payments.

And although Greece itself has accepted the terms of its bailout, a number of Eurozone countries have still to ratify the deal, meaning the threat of a Greek exit persists.

However, Mr Felgendreher explained that a recent development by GT Nexus could offer firms a way to circumvent these issues through a “fusion of the physical and financial supply chains”, following an agreement between the platform developer and trade finance solutions provider SeaburyTFX.

SeaburyTFX has developed a funding programme that leverages big data on the GT Nexus platform to deliver suppliers access to low-cost capital. The programme opens the flow of capital into the supply chain to reduce costs and risk by basing funding decisions on the trading partners’ performance history, instead of the buyer’s or supplier’s credit.

Read more at Tapping into the ‘big data’ that can help Greek supply chains to be more agile

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Visibility Is Key when Driving Supply Chain Performance

At its heart, supply chain management requires a balancing of operational efficiency, customer satisfaction and quality. Managing the true cost to serve for each and every order is the aspiration to allow better negotiation and value creation across the supply chain. Customer- and consumer-centricity helps anticipate product and service requirements. Supply chains are becoming more extended and complex with a consequent increase in risk and the need for resilience. There are multiple data sources making it difficult to manage and measure end-to-end processes and metrics. Aligning priorities through integrated planning remains pivotal, but there is an explosion of data available that needs to be incorporated and the value extracted to understand how supply and demand issues impact profit and revenue targets.

New technology provides greater supply chain transparency. Strategic supplier engagement continues to be important as a way of reducing costs and mitigating risk. Effective supply chain management can be either a compelling competitive differentiator or, conversely, a source of risk, cost and poor customer service.

Organizations are looking to enable better and more consistent decision-making across complex processes with diverse systems and data. Many are leveraging business intelligence (BI) platforms to give them the capability to make decisions across the organization, including environments in which mobility and access to decision-critical information on the go is crucial. Putting the information in the hands of the people on the front line—those managing supply chain processes—is key to enabling decision-making at the point of decision. But this requires synchronizing an enormous amount of data that comes from many systems and sources in a way that it can be easily consumed by people who need to act on the insights.

Read more at Visibility Is Key when Driving Supply Chain Performance

What do you think is important in Supply Chain Performance Management? Share your opinions with us in the comment box.

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