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How to Avoid a Shipwreck.

Last year provided a glimpse into what may become the new trend in shipping, according to Nina Luu, CEO of Shippabo, a cloud based supply chain management platform company based in Los Angeles. In 2018, there was chaos and a lack of reliability in capacity and rate in a prolonged trans Pacific peak season, she said. In addition, new U.S. trucking regulations cut capacity while demand rose, reducing the ability of retailers and vendors to control pricing Tatriff changes rocked the boat even more.

"In 2019, retailers and vendors should prepare for more volatility and uncertainty by seeking more control through negotiating and signing a fixed rate contract with ocean and drayage carriers," Luu suggested. She also recommended that vendors and retailers organize, pre plan and pre book space where possible, slay updated on tariff changes and maintain records in a centralized system.--AZ

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Title Annotation:OUTLOOK 2019
Publication:HFN Home Furnishings News
Article Type:Brief article
Date:Jan 1, 2019
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