Monday, 30 June 2008
Mid year reviews
Many of you will be involved in some type of mid year review, which I am sure will focus on short and longer term developments. For YRCL EU our focal point will be on what is the next stage for YRCL EU, which we hope in the future will involve areas such as supply chain analyses & transportation management using i2 technology for mainland Europe, as well as concentrating on organic growth and strategic acquisitions.
We also are concentrating on exciting technology upgrades to our internet based PO management system (PowerView) which will soon to be known as WorldView as it allows full SKU visibility, SKU control and includes vendor interface. On that note, we have just completed training in Asia for over 80 vendors for a client and we are confident that WorldView will add great value to many of our clients. All great and exciting stuff!
YRCL EU shorter developments are focus on the remainder of 2008 and analysing what has worked well and what needs improving or changing. We all know about the present economic gloom, but this is a time when we can add even greater value to our clients. To deliver our 2008 goals we only need to look into our core competencies which are forwarding, brokerage and customer service and this alone will ensure we add the value to our clients that they need.
I always get personally motivated when I talk to the staff who actually make the difference to our clients. At our EU HQ they have weekly 'all staff invited' meetings which focus on our plans for 2008; I never fail to be amazed at the passion and ideas that are generated in these discussions. As leaders we should never be afraid to be open with our employees, they are resilient and they are the people that will make the difference.
We also are concentrating on exciting technology upgrades to our internet based PO management system (PowerView) which will soon to be known as WorldView as it allows full SKU visibility, SKU control and includes vendor interface. On that note, we have just completed training in Asia for over 80 vendors for a client and we are confident that WorldView will add great value to many of our clients. All great and exciting stuff!
YRCL EU shorter developments are focus on the remainder of 2008 and analysing what has worked well and what needs improving or changing. We all know about the present economic gloom, but this is a time when we can add even greater value to our clients. To deliver our 2008 goals we only need to look into our core competencies which are forwarding, brokerage and customer service and this alone will ensure we add the value to our clients that they need.
I always get personally motivated when I talk to the staff who actually make the difference to our clients. At our EU HQ they have weekly 'all staff invited' meetings which focus on our plans for 2008; I never fail to be amazed at the passion and ideas that are generated in these discussions. As leaders we should never be afraid to be open with our employees, they are resilient and they are the people that will make the difference.
Labels: Communication, Core Values
Thursday, 26 June 2008
When we are busy, we need to remember what is important.
I have had a great few days planning for the remainder of 2008 and beyond but the best work I have recently was on Monday night! One of my sons was due to sit an important examination and I didn't realise how anxious he was.
Shame on me for not spending more time with him, but seeing his reaction following us talking through this and explaining it doesn't matter, just do your best was brilliant. It made me recall the part in The Royale Family where Jim Royale sings a song about being financially broke but having a small son that calls you dad with the quote 'shake hands with a millionaire'. Priceless
Shame on me for not spending more time with him, but seeing his reaction following us talking through this and explaining it doesn't matter, just do your best was brilliant. It made me recall the part in The Royale Family where Jim Royale sings a song about being financially broke but having a small son that calls you dad with the quote 'shake hands with a millionaire'. Priceless
Monday, 23 June 2008
Overseas Visit
We had hectic week with our President and CEO, Jim Ritchie in town. As well as the normal type of agenda with review and strategy meetings, we had a late night at the IFW awards where we were finalists in People Development and Business Improvement categories.
Jim always takes time to speak too as many staff as he can and uses group meetings to share general information about the company plus encourages open questions. I am sure some companies may be reluctant to do this, but I have seen these meetings many times opening important areas of debate. As leaders this may sometimes be uncomfortable but listening to our staff is always very beneficial and it personally gives me a boost of energy.
Jim always takes time to speak too as many staff as he can and uses group meetings to share general information about the company plus encourages open questions. I am sure some companies may be reluctant to do this, but I have seen these meetings many times opening important areas of debate. As leaders this may sometimes be uncomfortable but listening to our staff is always very beneficial and it personally gives me a boost of energy.
Labels: Communication, Feedback, Staff
Monday, 16 June 2008
Technology, Does It Do What It Says On The Tin?
I firmly believe that technology is critical to assisting our clients, but more importantly I feel it is that staff must make sure that there is a need for technology and if there is, that the fit is acceptable.
After analysing the internal procedures for a prospect client, a solution was suggested to utilise our internal web based purchase order management system called PowerView, the system requires almost zero training and provides full supplier disciplines and controls as well as excellent management reporting. PowerView would be very low cost, quick to implement with minimal disruption to the clients business and would enable internal resources to be reallocated.
Unfortunately the prospect decided to select a company offering a more complicated solution which included vendor interface, optimisation as well as additional benefits similar to PowerView. 18 months later we have re visited this prospective client to be advised the system was never implemented as it was too expensive, would impact their business and was too complicated.
We are now discussing again how to transition their business to PowerView as stage one so that they can receive the benefits of using a PO Management tool and then plan towards implementing them to our newly developed system “WorldView” which will enable full vendor interface, optimisation in addition to the benefits currently provided by PowerView.
We need to ensure that we implement any recommendations to our clients in a considered way to work positively and creatively with the business model and in this example if that means that the client should use a system that does not achieve all their goals to begin with, then we should be bold enough to make this recommendation, because as happened to the current incumbent, the solution will only be a false promise and ultimately a client lost.
P.S. Have you looked at our news feed lately? it has up to date information about Seafreight Surcharges, Strikes in S. Korea as well as details onthe cheapest fuel in the areas surrounding our offices. www.yrclogistics-rss.info
After analysing the internal procedures for a prospect client, a solution was suggested to utilise our internal web based purchase order management system called PowerView, the system requires almost zero training and provides full supplier disciplines and controls as well as excellent management reporting. PowerView would be very low cost, quick to implement with minimal disruption to the clients business and would enable internal resources to be reallocated.
Unfortunately the prospect decided to select a company offering a more complicated solution which included vendor interface, optimisation as well as additional benefits similar to PowerView. 18 months later we have re visited this prospective client to be advised the system was never implemented as it was too expensive, would impact their business and was too complicated.
We are now discussing again how to transition their business to PowerView as stage one so that they can receive the benefits of using a PO Management tool and then plan towards implementing them to our newly developed system “WorldView” which will enable full vendor interface, optimisation in addition to the benefits currently provided by PowerView.
We need to ensure that we implement any recommendations to our clients in a considered way to work positively and creatively with the business model and in this example if that means that the client should use a system that does not achieve all their goals to begin with, then we should be bold enough to make this recommendation, because as happened to the current incumbent, the solution will only be a false promise and ultimately a client lost.
P.S. Have you looked at our news feed lately? it has up to date information about Seafreight Surcharges, Strikes in S. Korea as well as details onthe cheapest fuel in the areas surrounding our offices. www.yrclogistics-rss.info
Labels: Communication, Service, Technology
Saturday, 14 June 2008
Assessing Your Business
Sorry for not writing for the last couple of days but I have been very busy spending most of my time in mid year reviews with the different parts of the business, last week was the national sales meeting, this week was with the operations and financial teams. During the midyear reviews, each part of the business had prepared a SWOT analysis which allows me to see at a glance where we need to prioritise our efforts and helps us with our strategic planning.
I have already mentioned in one of my previous posts that I have total respect for those who look to start a logistics company in this day and age, so considering that it is generally accepted that around half of new businesses have packed up within the first three years, usually for reasons ranging from poor financial planning to weak market research and lack of a growth strategy.
But weaknesses such as these can be damaging to a business at any stage of its development - particularly when market conditions change and businesses need to adapt to survive. Knowing your weak points is crucial to developing a robust business. But how do you work out what they are? I believe that a SWOT analysis is perhaps the best way to identify issues you need to address systematically but remember that this is not the only tool you can use to help you and by just completing a SWOT will not ensure you have carried out an adequate job, you need to ensure you still continue to do the sensible things such as define the companies objectives or calculating ROI for alternate strategies.
SWOT stands for (S)trengths, (W)eaknesses, (O)pportunities and (T)hreats. Conducting a SWOT analysis involves creating a list of each for different aspects of your business; then considering what you need to change in order to make your business stronger. In general, strengths and weaknesses would apply to the way you run your business - your administrative systems, your workplace policies, your premises, your financial processes, staff, sales channels, and so on. Under opportunities and threats, you are more likely to look at external factors that affect your business - your competitors, your customers' expectations, regulatory changes, and so forth.
Start by assessing your business plan and then use that as the basis for a more detailed analysis. Does your plan cover the key areas of your business? It should contain information about your offer, your marketplace, marketing and sales strategies, management team, operations, financial forecasts and growth strategy.
Does this information realistically reflect where your business is and where it's heading? Now look at each area in more detail and list strengths, weaknesses, opportunities and threats as appropriate. In particular, it's worth noting the areas where small businesses most commonly fall down:
Selling a product for which there is no demand
Paying bills promptly, but allowing customers to pay late
Planning based on unachievable sales targets
No growth strategy
Ignoring competitors
Poor recruitment and staff management
Unfavorable contracts with suppliers, landlords, etc.
A SWOT analysis is a tool for change, not an end in itself. Once you have identified the vulnerable areas of your business, prioritise them and develop plans for dealing with them. Note these in your business plan if necessary. Ideally, you should carry out a SWOT analysis fairly regularly, I also think that it is more effective if combined with a PEST, which I will explain more about at a later date, it is also important to remember that you don't have to do it yourself, but can delegate the exercise to employees.
Even if you don't look at every aspect of your firm, a SWOT analysis will help you keep in touch with your operation and your marketplace, and give you a greater chance to adapt and prosper when confronted with challenges and new opportunities.
If you are interested in finding out more about analyses tools such as SWOT, PEST or SCAN, there are some good articles in www.iod.com or http://en.wikipedia.org/wiki/SWOT_analysis
I have already mentioned in one of my previous posts that I have total respect for those who look to start a logistics company in this day and age, so considering that it is generally accepted that around half of new businesses have packed up within the first three years, usually for reasons ranging from poor financial planning to weak market research and lack of a growth strategy.
But weaknesses such as these can be damaging to a business at any stage of its development - particularly when market conditions change and businesses need to adapt to survive. Knowing your weak points is crucial to developing a robust business. But how do you work out what they are? I believe that a SWOT analysis is perhaps the best way to identify issues you need to address systematically but remember that this is not the only tool you can use to help you and by just completing a SWOT will not ensure you have carried out an adequate job, you need to ensure you still continue to do the sensible things such as define the companies objectives or calculating ROI for alternate strategies.
SWOT stands for (S)trengths, (W)eaknesses, (O)pportunities and (T)hreats. Conducting a SWOT analysis involves creating a list of each for different aspects of your business; then considering what you need to change in order to make your business stronger. In general, strengths and weaknesses would apply to the way you run your business - your administrative systems, your workplace policies, your premises, your financial processes, staff, sales channels, and so on. Under opportunities and threats, you are more likely to look at external factors that affect your business - your competitors, your customers' expectations, regulatory changes, and so forth.
Start by assessing your business plan and then use that as the basis for a more detailed analysis. Does your plan cover the key areas of your business? It should contain information about your offer, your marketplace, marketing and sales strategies, management team, operations, financial forecasts and growth strategy.
Does this information realistically reflect where your business is and where it's heading? Now look at each area in more detail and list strengths, weaknesses, opportunities and threats as appropriate. In particular, it's worth noting the areas where small businesses most commonly fall down:
Selling a product for which there is no demand
Paying bills promptly, but allowing customers to pay late
Planning based on unachievable sales targets
No growth strategy
Ignoring competitors
Poor recruitment and staff management
Unfavorable contracts with suppliers, landlords, etc.
A SWOT analysis is a tool for change, not an end in itself. Once you have identified the vulnerable areas of your business, prioritise them and develop plans for dealing with them. Note these in your business plan if necessary. Ideally, you should carry out a SWOT analysis fairly regularly, I also think that it is more effective if combined with a PEST, which I will explain more about at a later date, it is also important to remember that you don't have to do it yourself, but can delegate the exercise to employees.
Even if you don't look at every aspect of your firm, a SWOT analysis will help you keep in touch with your operation and your marketplace, and give you a greater chance to adapt and prosper when confronted with challenges and new opportunities.
If you are interested in finding out more about analyses tools such as SWOT, PEST or SCAN, there are some good articles in www.iod.com or http://en.wikipedia.org/wiki/SWOT_analysis
Labels: Economy, New businesses, Strategy
Wednesday, 11 June 2008
Petrol Prices
I mentioned yesterday that everybody's costs are increasing and one of the most noticeable is fuel! I personally have noticed this and have recently found a website that will help me keep this overhead under control, the site allows users to search for the cheapest petrol in their area quickly and it has the added benefit of allowing you to choose regular e-mail alerts so you are always the first in the area to know when prices change.
I will be calling the company tomorrow to ask if we can use their information on our news feed so that our clients will be able to see the price of fuel within a 25 mile radius of our branches in Southampton, Egham, Birmingham, Manchester and Glasgow. So watch this space, if http://www.petrolprices.com/ are agreeable, we will be adding the cheapest local fuel prices to http://www.yrclogistics-rss.info/
I will be calling the company tomorrow to ask if we can use their information on our news feed so that our clients will be able to see the price of fuel within a 25 mile radius of our branches in Southampton, Egham, Birmingham, Manchester and Glasgow. So watch this space, if http://www.petrolprices.com/ are agreeable, we will be adding the cheapest local fuel prices to http://www.yrclogistics-rss.info/
Labels: Fuel, Petrol Prices
Tuesday, 10 June 2008
I am just glad to have a job!
One of our sales team recently made contact with a prospect client. After the initial conversation the response to our request for a meeting was "I do not really care what you can do I am just happy to still have a job".
With 3210 companies forced into liquidation during Q1 2008 which is a 4% increase on 2007, retail sales down & fuel cost increasing, perhaps this is an understandable response. I was pleased that the story ended with us finding a way to interest the prospect that all we required was a little amount of his time so that we could see how we could analyse his supply chain and work together to see how we could help increase his company’s profit. In this time of uncertainty, we need to realise that our clients are not just looking to get their freight from A to B, or for nice to have value added services, they are looking for a partner that will work in collaboration to eliminate unnecessary cost whilst not compromising on service.
With 3210 companies forced into liquidation during Q1 2008 which is a 4% increase on 2007, retail sales down & fuel cost increasing, perhaps this is an understandable response. I was pleased that the story ended with us finding a way to interest the prospect that all we required was a little amount of his time so that we could see how we could analyse his supply chain and work together to see how we could help increase his company’s profit. In this time of uncertainty, we need to realise that our clients are not just looking to get their freight from A to B, or for nice to have value added services, they are looking for a partner that will work in collaboration to eliminate unnecessary cost whilst not compromising on service.
Monday, 9 June 2008
Email Communication
Do you get frustrated when receiving internal email asking you for a solution or opinion for the 'below' and then spend hours trying to understand a string of email communication?
I have found asking the sender to provide a summary of the 'below' with exactly what is required, saves time and ensures the request is fully understood. Especially important when communication is from overseas offices.
Although I have found this is not just an internal issue, we are still encouraging our staff to ensure the email summary is a working practice, so we can answer our clients faster and accurately, which is of course all important.
Lastly, we had our national sales meeting Thursday 5th and was very impressed by the presentations and I intend to set some time aside this week so that I can share some of the good story's and ideas that came out of the day.
I have found asking the sender to provide a summary of the 'below' with exactly what is required, saves time and ensures the request is fully understood. Especially important when communication is from overseas offices.
Although I have found this is not just an internal issue, we are still encouraging our staff to ensure the email summary is a working practice, so we can answer our clients faster and accurately, which is of course all important.
Lastly, we had our national sales meeting Thursday 5th and was very impressed by the presentations and I intend to set some time aside this week so that I can share some of the good story's and ideas that came out of the day.
Labels: Communication, Email, Sales
Friday, 6 June 2008
Fixed sea freight rates until January 2009
You can't turn the news on without hearing about the rising cost of Oil and we have all noticed how much petrol at the pump is now costing us. Shipping lines have also been increasing their surcharges to cover the increasing cost of fuel, so when I had a meeting this week with a supplier looking to provide us with a fix term FCL rates including BAF & CAF until January 2009, It makes me wonder how attractive this will be for importers and would be grateful to hear your thoughts and comments?
Labels: Fuel, Oil, Seafreight, Surcharges
Monday, 2 June 2008
Industry News
In researching the best way of sharing key industry information without becoming a junk email contributor we have found that our rss newsfeed has become a valuable tool.
I had a great story shared by one of our sales professionals in that a prospect client was having difficulty obtaining information from their supplier on why their shipment from Asia was delayed. By coincidence the prospect was reading a YRCL newsfeed which explained the reasons for the backlogs but importantly advised what YRCL contingency plans are, they have since managed to move their freight out of Asia after using the knowledge they learnt from the News Feed.
For up to date industry news please visit http://www.yrclogistics-rss.info/
I had a great story shared by one of our sales professionals in that a prospect client was having difficulty obtaining information from their supplier on why their shipment from Asia was delayed. By coincidence the prospect was reading a YRCL newsfeed which explained the reasons for the backlogs but importantly advised what YRCL contingency plans are, they have since managed to move their freight out of Asia after using the knowledge they learnt from the News Feed.
For up to date industry news please visit http://www.yrclogistics-rss.info/
Labels: Communication, Freight, Service
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