September 4, 2019 (Chicago, IL) - Labelmaster, the leading provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced the results of its annual 2019 Global Dangerous Goods Confidence Outlook. Sponsored by Labelmaster, International Air Transport Association (IATA) and Hazardous Cargo Bulletin, the fourth annual survey was conducted to gain insight into how organizations around the globe approach DG shipping and handling, and the challenges they face. Findings were presented on September 4, 2019 at the 2019 Dangerous Goods Symposium in Chicago, IL.
"The growth of ecommerce and the evolution of supply chain has made moving dangerous goods in a safe and compliant manner more important than ever," said Robert Finn, vice president, Labelmaster. "Unfortunately, several key gaps exist within organizations' processes and infrastructure that make maintaining a compliant and reliable hazmat supply chain challenging."
Key Findings from the Report
The survey results found that DG pros around the globe continue to find compliance challenging and time-consuming and desire additional support from their companies in order to better ensure compliance, support future operational needs and gain greater business value from the supply chain. Overall, budget constraints, lack of adequate technology, lack of senior-level executive risk awareness and resource constraints all contribute to this feeling. According to the survey:
• While 66 percent of DG pros feel confident that the investment their company makes to support DG compliance can meet current needs, 21 percent indicated it does not meet current needs. Only 13 percent believe their current investment can support future needs.
• 71 percent of DG pros believe their supply chain adds positive economic impact to their business.
• 56 percent do not believe that (or are unsure if) their supply chains are a differentiator for their companies.
Gaps in the Supply Chain
The lack of confidence many DG pros have in their organization's supply chains is, in part, the result of specific gaps within their operations and infrastructure. These gaps include: their ability to handle growing reverse logistics needs, access to complete and reliable master data, technology with adequate DG functionality, and compliance of their partners and carriers.
• 67 percent of respondents feel their company's reverse logistics processes for DG are adequate to meet current needs, while 13 percent indicate they are not adequate to meet current needs. Only 20 percent feel they can support future requirements.
• 45 percent of companies have problems with centrally collecting, storing and communicating key hazmat data, and 55 percent have problems getting high-quality, accurate data from upstream supply chain partners.
• 55 percent of DG pros still rely on manual processes for shipping DG.
• Only 29 percent said their ERP system possesses all of the DG supply chain functionality needed, while 41 percent said their WMS possesses all of the necessary DG functionality.
• 71 percent of respondents wish their supply chain partners were as compliant as their company.
• 42 percent of respondents agree that the carelessness with which carriers handle/transport DG is a significant problem for their business.
Finn added, "Companies view DG management and compliance differently, which directly impacts their level of investment and, ultimately, their ability to ensure compliance across their entire organization and adapt to changing operational needs. As a result, many organizations lack the resources needed to meet their current supply chain needs, and few have the budget and infrastructure necessary to support future requirements. In order to successfully navigate an increasingly complex and dynamic hazmat supply chain landscape, organizations need to think of compliance beyond simply a mandate and the threat of a fine, and recognize how it can be a competitive advantage that drives revenue, improves supply chain performance, reduces risk and enables better customer service."
Labelmaster identified how three distinct organizational approaches to DG management influences the level of financial resources, support and compliance confidence. To learn more about these groups, the gaps that exist within the DG supply chain and ideas to change the DG discussion within your organization, download the full report: https://www.labelmaster.com/dg-confidence-outlook.
About Labelmaster
For more than five decades, Labelmaster has been the go-to source for companies - big and small - to navigate and comply with the complex, ever-changing regulations that govern the transport of dangerous goods and hazardous materials. From hazmat labels and UN-certified packaging, hazmat placards and regulatory publications, to advanced technology and regulatory training, Labelmaster's comprehensive offering of industry-leading software, products, and services helps customers remain compliant with all dangerous goods regulations, mitigate risk and maintain smooth, safe operations. Labelmaster's dedication to supporting its customers' operational and compliance needs is enhanced through its unmatched industry expertise and consulting services, which serve as a valuable resource for customers to answer difficult and commonplace regulatory questions. Whether you're shipping hazardous materials by land, air, or sea, Labelmaster is your partner in keeping your business ahead of regulations and compliant every step of the way. To learn more, visit www.labelmaster.com.
Contact:
Stephen Dye
stephen@outlookmarketingsrv.com
312-957-8911
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More Info: https://www.labelmaster.com/dg-confidence-outlook
