Education Series & Terminology

UPDATE warehouse equipment list: Material handling quick and safe

11/28/2023
15 Views

Worldcraft Logistics updates the list of warehouse equipment you should own to OPTIMIZE your transportation and order fulfillment work. The article has a lot of good content, don't miss it.

What is a SKU number? How to create and use SKU codes effectively

11/21/2023
270 Views

What is a SKU number? An SKU, or "stock keeping unit," is a distinct code that retailers use to identify and manage products, with each of its 8 to 12 characters signifying a specific product attribute.

What is consignment inventory? Benefits and effective ways

11/21/2023
380 Views

In consignment inventory, the supplier retains ownership of goods until they are sold by the retailer, reducing the retailer's upfront costs and risks for unsold products. This model benefits retailers with limited cash flow and uncertain customer demand, while giving suppliers control over product placement and pricing.

Supply Chain Metrics & KPIs parameters, performance measurement guide

11/19/2023
40 Views

Supply chain metrics & KPIs such as Inventory Turnover, Order Accuracy, Cycle Time, On-Time Delivery... optimize operations and customer satisfaction. This article by Worldcraft Logistics will update you with enough information.

What is 4PL and the difference between 3PL and 4PL?

11/16/2023
39 Views

The providers of 3PL and 4PL are your means of creating a supply chain that is both streamlined and effective. However, how would one decide between the two? 

What is domestic shipping? Benefits, pricing and efficient planning

11/13/2023
57 Views

Domestic shipping plays a vital role in modern commerce, and selecting the right service is key to business success and meeting customer needs. See Worldcraft Logistics' article now

What is Cross-Docking? Benefits, effective service for businesses

11/09/2023
43 Views

What is Cross-Docking? Cross-docking involves unloading products from incoming delivery vehicles and then loading them directly onto outgoing vehicles. It have benefits & effective service for businesses

What is Lean Supply Chain Management? Benefits & How to Reduce Cost

11/07/2023
36 Views

What is Lean Supply Chain Management? Benefits & How to Reduce Cost. It is only logical that supply chain strategies need to support this too.

Awaiting Fulfillment Meaning & Why Is It Important in Ecommerce?

11/05/2023
61 Views

What does awaiting fulfillment meaning? The term awaiting shipment signifies that the products have already been processed (picked and packed) and are now in a state of readiness for the shipping process.

Unlocking B2B Fulfillment Excellence: Strategies and Solutions for Customers

11/02/2023
81 Views

Explore top-notch B2B fulfillment solutions designed to boost your business efficiency. From inventory management to order fulfillment, we provide the tools and expertise you need to thrive in the world of B2B commerce.

EXW and FOB meaning in Incoterms: KEY difference and the BEST choice

10/31/2023
88 Views

Ex Works (EXW) and Free On Board (FOB) are two Incoterms used to standardize and facilitate international freight transport. See Worldcraft Logistics' analysis now

Supply Chain Management vs. Logistics: What’s the difference between them?

10/30/2023
404 Views

Although supply chain management (SCM) and logistics share many characteristics, there are also significant variations between the two disciplines. Companies may develop a competitive advantage by optimizing operations, enhancing customer service, and better understanding the roles that each plays.

Deciphering FCL and LCL: Choosing the Right Shipping Method

10/30/2023
88 Views

What is the main difference between FCL and LCL shipments? Which cargo storage option should you choose that suits your needs and the status of your goods? To help you understand the definitions, benefits, and clear direction of these options, Worldcraft Logistics will provide a comprehensive overview in the following article.

What is cargo insurance? Should I buy insurance in import and export

10/29/2023
343 Views

Cargo insurance provides compensation based on the commercial value in case of transit mishaps, covering liability for cargo damage or loss due to events like collision, fire, or load striking.

What is Bulk Cargo? Discover the Essentials of Bulk Cargo Shipping

10/26/2023
78 Views

Explore the definition and significance of 'what is bulk cargo' in shipping and logistics. Learn about the key aspects of bulk cargo transportation. Find answers here!

Mastering inventory management in supply chain knowledge to Success

10/26/2023
79 Views

Optimize your inventory with precision and ease. Streamline operations, reduce costs, and boost productivity with Worldcraft Logistics Inventory Management solutions.

What is a Bill of Lading in Logistics? Information from A - Z for newbies

10/12/2023
731 Views

The bill of lading (BOL) is a required document to move a freight shipment. The bill of lading is legally binding and provides the driver and the carrier.

What is a supplier? Key roles and guidance for supplier connection management

10/11/2023
123 Views

A supplier is a company or individual that provides goods or services to another company. In business, a supplier is typically an organization that supplies ...

What is FIFO in SCM? Definition and EFFECTIVE USE for businesses

10/09/2023
88 Views

FIFO or First-In-First-Out, is a warehouse management term referring to the practice of handling inventory based on the order of arrival. Read now article of Worldcraft Logistics

What Is Break Bulk? All You Need To Know

10/08/2023
115 Views

Breakbulk cargo is material that is shipped in smaller packing, such as drums, crates, bags, straps, pallets, and bags. WorldCraft Logistics will give you detailed answers.

Bullwhip effect in supply chain: Meaning, Example, Impact and Control

10/06/2023
85 Views

The bullwhip effect is a phenomenon that occurs when minor variations in consumer demand lead to amplified fluctuations in demand at the wholesale, distributor, and manufacturer levels within the supply chain management process.

What is supply chain management? Global HOT industry trends 2023

10/03/2023
109 Views

What is supply chain management (SCM)? It is about managing the flow of goods, data and finances related to a product or service. Worldcraft Logistics answers the definition, process, and effective management in this article.

A Guide to Shipping Large Items: Tips and Best Practices

03/20/2023
153 Views

Ever wondered how to ship those LARGE and HEAVY items without breaking the bank or causing damage? Discover how to master the art of shipping oversized items with our comprehensive guide! From damage prevention and packaging to choosing the right shipping method, we've got you covered.

Common LTL Shipping Mistakes and How to Avoid Them

03/20/2023
157 Views

Are you making these common LTL shipping mistakes? Find out how to save time, money, and ensure a smooth freight experience! Discover the most frequent errors made in LTL shipping and tips to avoid them. Say goodbye to incorrect measurements, improper packaging, and missed carrier options. Don't let additional services or tracking slip through the cracks. Ready to transform your LTL shipping game?

Understanding the Key Differences Between Telex Release and Express Release in Logistics

03/16/2023
349 Views

Confused about Telex Release and Express Release in the logistics world? Don't worry, we've got you covered! Our latest article demystifies these often misunderstood terms, explaining their key differences and applications in the industry. Learn how they impact bills of lading, when to use each type of release, and how they can influence the shipping process. Empower yourself with this essential economic knowledge to make more informed decisions in logistics.

Mastering the Art of Packaging and Preparing Items for Less-than-Truckload Transport

03/16/2023
171 Views

Master the art of packaging and preparing items for LTL shipping! Learn how accurate dimensions, proper documentation, efficient packaging, and labeling can make a world of difference. Protect your goods, reduce costs, and avoid delays.

Understanding FCL and LCL: A Comparison

03/15/2023
243 Views

Struggling to decide between FCL and LCL shipping for your international trade needs? Our latest article breaks down the differences between Full Container Load and Less Container Load shipping methods, helping you make the best choice based on your cargo's volume, weight, and quantity. Discover the pros and cons of each option, waiting periods, and various container types to maximize efficiency in your shipping process

Cost-effective Strategies for Transporting Bulky and Heavy Goods

03/15/2023
169 Views

Did you know there are cost-effective ways to ship bulky and heavy goods? Learn how LTL shipping, comparing carriers, and smart packaging can save you money on your next big shipment!

Understanding the Distinctions Between Demurrage and Detention in Shipping

03/15/2023
235 Views

Curious about the differences between demurrage and detention in shipping, and how to avoid extra charges? Demurrage fees apply when you fail to pick up a full container from the port within the free days, while detention fees apply when the container isn't returned within the allotted free time. Proper planning and knowing the free days at your port can save you money!

Understanding the Distinction between CY/CY and CFS/CFS Terms on a Bill of Lading in Ocean Freight

03/14/2023
277 Views

The Bill of Lading (B/L) is crucial in ocean freight, containing information about the shipper, consignee, cargo, and ports. It includes terms like CY (Container Yard) and CFS (Container Freight Station), which are essential for understanding shipment types. CY is used for full container load (FCL) shipments, while CFS is for less than container load (LCL) shipments. Shipments can be CY/CY, CFS/CFS, CFS/CY, or CY/CFS, depending on the origin and destination. All deliveries are port-to-port, with the shipper or consignee responsible for cargo arrangements. In consolidation services, a CY/CY B/L is issued to the freight forwarder, who provides a House B/L to the shipper.

Choosing the Right Ocean Freight Rate: Spot vs. Contract Rates

03/14/2023
242 Views

Spot and contractual freight rates have arisen due to demand-supply imbalances in the global freight industry. Spot rates are one-time, volatile rates based on market conditions, while contractual rates are negotiated for a specific period and offer more stability. The choice between the two depends on the predictability of your supply chain. Shippers often use both rates, depending on contract terms and market conditions. Regularly tracking freight movement is crucial for cost-effectiveness.

Components of a Freight Quote: What's included?

03/14/2023
196 Views

Freight costs are detailed in a freight quotation and include five components: origin haulage, origin charges, freight charges, destination charges, and destination haulage. Haulage involves moving goods between inland points and ports. Freight rates depend on various factors, such as cargo type and distance. Additional fees, like bunker adjustment factor (BAF) and currency adjustment factor (CAF), may apply. Origin charges cover customs and handling, while destination charges involve entry filing and handling. Understanding the freight quote helps avoid unexpected charges.

What Are Third-Party Logistics (3PLs) and How Do They Work?

02/16/2023
189 Views

Third-party logistics refers to the outsourcing of logistics and supply chain management functions to a specialized company. In this article, we will explore what 3PLs are and how they work. 3PLs can operate on a local, national, or global level, and they serve a variety of industries. Third-party logistics (3PLs) are experts in logistics and supply chain management. 3PLs can handle fluctuations in demand, seasonal spikes, and sudden changes in supply chain requirements. By leveraging the expertise of a 3PL, companies can focus on their core competencies and leave logistics to the experts.

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