May 17, 2020

CombineNet introduces Sourcing Health Check

Supply Chain
Supply Chain Solutions
Freddie Pierce
1 min
Sourcing from suppliers becomes easier thanks to CombineNet’s Sourcing Health Check
CombineNet, Inc., introduced its Sourcing Health Check, a free diagnostic program designed to identify additional savings and value creation opportunit...

<span data-scayt_word="CombineNet" data-scaytid="7">CombineNet</span>, Inc., introduced its <a href="; target="_blank">Sourcing Health Check</a>, a free diagnostic program designed to identify additional savings and value creation opportunities in supplier sourcing activities.</p>
&nbsp;&ldquo;We recognize that Sourcing and Procurement teams continue to face intense business pressure to drive down costs and risks while improving supplier value delivery,&rdquo; Dave <span data-scayt_word="Zynn" data-scaytid="10">Zynn</span>, <span data-scayt_word="CombineNet's" data-scaytid="11">CombineNet&rsquo;s</span> executive vice president an CFO, said. &ldquo;The Sourcing Health Check is an easy, practical and personalized offer that sourcing managers can take advantage of to identify potential areas of improvement and deeper savings in future negotiations, based on data from a recent sourcing <span data-scayt_word="event."" data-scaytid="1">event.&rdquo;</span></p>
The <span data-scayt_word="CombineNet" data-scaytid="8">CombineNet</span> Sourcing Health Check only requires participants to complete a brief online survey about their sourcing environment and to submit a recent RFP template (under a non-disclosure agreement). Based on the participant&rsquo;s information received, <span data-scayt_word="CombineNet" data-scaytid="9">CombineNet</span> will build and deliver to each their custom Sourcing Health Check package that includes:</p>
<u>Sourcing Benchmark Report:</u>Benchmarks the company&rsquo;s sourcing environment, practices and results.</li>
<u>Sourcing Template Review:</u>Identifies potential areas for improving the RFP approach to drive greater supplier value, such as through Expressive Bidding.</li>
<u>ROI Analysis and Recommendations:</u>Offers practical suggestions on how to extract more value and savings from supplier bid events.</li>
Companies interested in the free Sourcing Health Check can find more details and register to participate online at: <a href="; target="_blank">http://<span data-scayt_word="//; data-scaytid="2"></span>/<span data-scayt_word="lp" data-scaytid="12">lp</span>/<wbr><span data-scayt_word="healthcheck.html" data-scaytid="3">healthcheck.html</span></wbr></a></p>
Edited by Kevin <span data-scayt_word="Scarpati" data-scaytid="13">Scarpati</span></p>

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Jul 27, 2021

UPS Posts Record Second Quarter with Revenues of $23.4bn

2 min
UPS enjoys consecutive quarters of record profits with growth across all segments, and completes divestiture of UPS Freight

Growth across each of its core segments resulted in record results for UPS in the second quarter, with group revenues climbing 14.5% year on year to $23.4bn. 

The global logistics outfit achieved consolidated operating profit of $3.3bn, up 47.3% compared to the same period in 2020. It is the second consecutive quarter of record profit, and a significant rise on Q1’s $2.9bn. 

UPS Q2 Revenues in Brief

  • Consolidated revenues: $23.4bn (+14.5% yoy)
  • Domestic: $14.4bn (+10.2%)
  • International: $4.82bn (+30%)
  • Supply Chain Solutions: $4.2bn (+14.3%)

The US company’s domestic segment performed steadily with 10.2% revenue growth to $14.4bn. But it was its international and supply chain solutions segments where UPS saw the biggest gains. Strong demand in Europe led an increase in international revenues of 30% to $4.82bn. UPS’ supply chain solutions division saw revenue growth of 14.3% to $4.2bn, driven, the company said, “by strong demand in nearly all businesses”. 

UPS’ steady growth throughout the pandemic has been led by the overarching vision of its chief executive Carol Tomé to do “better not bigger”, focussing on efficiency and high margin deliveries through its network over pure scale and volume. 

“I want to thank all UPSers for executing our strategy and delivering high service levels, which fuelled record financial results in the second quarter,” she said. “Through our better not bigger framework, we are moving our world forward by delivering what matters.”   

UPS Completes Sales of UPS Freight 

The second quarter also saw UPS complete the divestiture of UPS Freight in a deal worth $800m - with a surprise result for the division, now called TForce Freight, under new owner TFI International.

“The second quarter was historically significant for TFI International, with the closing of our UPS Freight acquisition and record performance across the board,” said Alain Bédard, chairman, President and Chief Executive Officer, TFI International. “Particularly gratifying is the performance of TForce Freight, which has exceeded our operating ratio targets far ahead of schedule, and we have only just begun our work.”

In it first two months of ownership TFI reported that adjusted operating ratio (OR) was 90.1% for TForce Freight, far outperforming its forecasted OR of 96-97%. 

“I wish to thank our entire team for their hard work and remarkable efforts, and officially welcome aboard our new TForce Freight colleagues who have seamlessly come under the TFI umbrella and are already making stronger than expected contributions,” Bédard added. 

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