Articles

By Tompkins Solutions

The third-party logistics (3PL) industry has grown significantly over the last decade, as ongoing space and labor shortages and e-commerce growth continue to challenge supply chain operations. Retailers such as Gap Inc. and American Eagle Outfitters Inc. have even ventured into the 3PL market, leveraging their extensive networks to provide logistics services to other companies.

While there are some scenarios that may benefit from the use of a 3PL provider, such as startup companies that want to minimize risk or retailers looking for support with seasonal demand spikes, many businesses may be able to gain more value by investing in their own logistics network. Here are a few key considerations to help you determine which strategy is best for your business.

Sales Volumes

As mentioned above, while certain circumstances may warrant outsourcing fulfillment, significant growth is one telltale sign that it may be time to bring your logistics operations in-house. The higher the volume, the more cost effective it becomes to build your own warehouse. Typically, operations with over $100 million in sales will find that investing in running their own logistics operations makes financial sense. 

Inventory and Order Profiles

In general, inventory and order profiles with higher labor and space requirements will likely cost more through a 3PL. Depending on the pricing structure, many 3PLs will charge fees for each SKU stored as well as each individual item per order, with some providers charging additional fees for larger pieces. Therefore, companies with high SKU counts and piece-picking orders should look into self-fulfillment.

Technology and Automation 

By servicing multiple clients, 3PLs are often able to invest in more warehouse automation and technology than a single company could do on their own. While this may be attractive to companies with little or no automation internally, it is important to review your long-term strategy to determine if the additional labor and overhead expenses with a 3PL are more cost effective than investing in your own equipment and operations.  

Current Network and Operations

Before considering outsourcing logistics, companies should evaluate their existing network to see if there are any ways to optimize their current operations. A warehouse assessment and network analysis can help companies identify opportunities to increase efficiency and capacity. Additionally, retailers with a brick-and-mortar infrastructure can leverage their physical stores to reduce delivery times and costs.

As customer expectations and the complexity of supply chains continue to rise, having the right logistics strategy is critical to increase resilience and ensure long-term business success. Contact us today to learn how to optimize your logistics operations to reduce costs, increase service levels and overcome disruptions.

Unless you just conducted one, every company can benefit from a marketing audit. A high-level marketing audit can help identify the areas of your marketing strategy that have grown stagnant to inspire fresh ideas and record-breaking profits. Whether you’re looking for ways to lower your CPM or you think everything is going just fine as is, your brand can benefit from a comprehensive marketing audit. These are the biggest ways.

Improve or Sustain ROI

Ideally, a marketing audit will find ways to improve your ROI. These factors are often new assets, ad audiences you haven’t experimented with, retargeting from unique databases, or precision targeting with your funnels. These are all items you often overlook when you’re working on the same platforms with the same ads every day.

If you’re perfectly happy with the results of your current marketing strategy (which, is any founder or manager ever completely content with results?), you still risk it becoming outdated or stale. If an audit can’t pinpoint a magic formula to improve your ROI, it can still find the areas to keep an eye on so you never see your strong performance decline.

Identify Low-Hanging Fruit

What changes to your marketing strategy would require the smallest effort and yield the fastest and greatest results? That’s the main objective of an outsider audit. What’s been under your nose all along that was outside the areas of expertise for your team?

Align PPC Targeting

An audit will help uncover improperly aligned targeting options across all PPC advertising campaigns. This will help you save money and ensure your message is focused on the right audience at the right time. An example might include a Google Ads Geofencing campaign that doesn’t differentiate between “present” and “search interest” in the targeting options. The result is ads serviced to people outside the geofence who won’t buy.

Proactively Manage Your Brand

An audit can help uncover gaps in your branding and give you the tools to protect and grow that brand. This can include responding to negative customer reviews from online directories like Google My Business, Foursquare, and Yelp. It can also include asking for backlinks from trusted sources and websites that mention your brand.

Check-In on the Competition

Your competitors are pursuing the same customers. An audit can help you benchmark the spending and results of your competitors. It will make sure you’re not left behind when a trend or conversation in your industry pops up. Your current marketing will keep you from getting left behind; reach out to our Partnerships Manager, Chanelle, at partnerships@hawkemedia.com to receive a complimentary marketing consultation today!

The traditional distinction between working and non-working spend in marketing is quickly becoming outdated with today’s evolving technologies. As ID-based targeting becomes less effective in the wake of privacy changes, creative effectiveness is becoming more important for engaging audiences. AI-based generative solutions will make content generation almost instantaneous and free, but standing out in a world of infinite content will require more intelligent creative solutions.

In this blog, VidMob CEO Alex Collmer explains why creative effectiveness is the next big thing for marketers and the enormous value opportunity available to marketers who move beyond media efficiency and embrace AI-driven solutions. Learn how to boost creative effectiveness for lifts in ROAS and ROI with the right marketing technology.

Read the full blog here

By: Alan J. Fuerstman, Founder, Chairman and CEO, Montage International

DISCOVER EXCLUSIVE RESORT LIVING COLLECTIONS OF ART & DESIGN, HOME LUXURIES AND APPAREL FROM MONTAGE NOW ACCESSIBLE ONLINE

Inspired by our remarkable destinations, distinctive design aesthetic and coveted amenities, Montage International is pleased to launch ShopMontage.com. It is a boutique shopping site offering our guests globally the opportunity to embrace our philosophy of Life, Well Lived through an expansive curated collection of contemporary luxuries now available.

Embodying the ethos of our signature Montage lifestyle and individual resort locations including Laguna Beach, Los Cabos, Big Sky, Healdsburg, Deer Valley, Palmetto Bluff and Kapalua Bay, the boutique site brings the definitive Montage experience to life as a premier source for indulging home furnishings, the finest bed, bath and linen products, gifts, special edition art pieces, exclusive fashion collections and interior design elements.

Unveiling next month, shop our 20th anniversary fashion collaborations with SIMKHAI and Jimmy Choo exclusively on ShopMontage.com.

We invite you to explore the very best of Montage and our select design partners at ShopMontage.com and extend your memorable stays well beyond your departures.

By Shawn Herrera, Practitioner Faculty of Applied Behavioral Science (ABS) & Organization Theory and Management (OTM) at Pepperdine Graziadio Business School

Despite recent news of layoffs at U.S. firms, the job market remains robust, and it is changing the traditional career path. Recent U.S. Bureau of Labor Statistics data shows the acceleration of wages continues to increase, and the number of people who either are working or want a job has continued is dropping. Despite this, there is a countertrend of professionals who quit their job and later say they regret their hasty exit. According to a poll released in September 2022, one in four U.S. workers who quit their previous job regrets their decision. 

The Great Resignation raises questions about why people quit and how they quit. Some people report being inspired by peers who quit their jobs, saying it gave them the confidence they previously lacked to make a move themselves. Some jump ship for a higher wage without much thought at all about other factors. Others are simply burned out, lonely, experiencing family stress, and desire some time off before starting their next chapter. Research from Gallup states that “50% of employees have left a job to get away from a [bad] manager at some point in their career.”

Whatever the reason, HR managers play a role in guiding employees through leave-or-stay job scenarios. While the urge for a quick, clean break may be appealing, HR managers can curb that urge by reaffirming employees and encouraging them to consider moving up within their existing employer. Encouraging employees to build a solid professional network builds credibility for HR managers, helps employees and could benefit the business.

For those who want to move up with an existing employer, building and leveraging a professional network can be the difference between a smooth transition or a misstep on the career ladder. Some will climb a career ladder only to later realize their chosen ladder was leaning against the wrong wall. Professional networks can consist of company peers, mentors, and sponsors. Each plays a different, but equally valuable, role.

Here are three ways HR managers can describe how a professional network can be an essential help: 

1) Look Before You Leap

Wise job changers who seek to stay and move up draw on the advice of others before making the switch in order to affirm or reconsider their decision. An employee’s professional network can help clear up questions about whether the workplace culture, compensation package, and growth opportunities at your current position are worth the added responsibility and future growth. They can also advise on ways to develop additional skills or if an advanced degree might assist you to move up your current career ladder or pivoting to a different area. Connecting with professionals in a network can also challenge assumptions about the prospective position that may not be as they seem. More than just making your work not enjoyable, choosing the wrong workplace, and/or boss, can be hazardous to your health. According to the Mayo Clinic, “your supervisor is more important to your health than your family doctor.”

To read the full article, visit this link

In Episode 3 of the Owners Club podcast, FanClub Sports Capital Founder & CEO Dave Mirynech is joined by Brera Holdings Executive Chairman Dan McClory to discuss his background, ESG sports investing, and publicly traded multi-club ownership models.

Channel Bakers is proud to announce that CEO Josh Kreitzer recently had the opportunity to speak on stage at D3con, the largest annual digital ads event in Germany. During the event, Josh participated in a panel discussion with Unilever and the Head of Amazon Ads for Europe. They spoke about the future of advertising without cookies and how using Amazon Marketing Cloud clean rooms can be the solution to the biggest problem facing the advertising industry with GDPR regulation canceling 3rd party tracking.

The discussion focused on how Amazon Marketing Cloud clean rooms can tie a brand’s 1st party data with Amazon’s data to identify new shoppers to target. This innovative solution is an excellent way to overcome the challenges posed by GDPR regulation, which has made 3rd party tracking difficult for advertisers.

It was an honor for Josh to be on stage with such esteemed colleagues and share insights on the future of advertising. Josh is excited to see how this technology will continue to evolve and how it can help advertisers better understand their audiences and create more effective ad campaigns.

Thank you to the D3con team for inviting Josh to speak at this incredible event, and he looks forward to attending in the future.

By The Literacy Project

The Literacy Project made the short list for an award at the World Literacy Summit in London on April 2. Out of 465 entries, The Literacy Project agency is named a top five finalist and Founder Sue Parks will be making a 20-minute presentation on the service in front of 600 guests and 85 countries!

This honor would not be possible without the support and dedication of the community! 

On behalf of all the children we serve, thank you for believing in The Literacy Project and helping students’ dreams come true!

Enjoy this amazing film by Notable Human Films here.