Logistics – Stephen Day

Brokerage History – An Overview

Stephen Patrick Day is a leading logistics executive in Houston and guides Logistics Group International (LGI) in efforts to assist clients in arranging freight transport throughout the United States, Mexico, and Canada. Stephen Day is a member of the Transportation Intermediaries Association (TIA), and is also a Certified Transportation Broker.

Brokers have been playing important roles in the trucking industry for decades, and their involvement can date back to the early 20th century when the industry was new. Before the last quarter of the century, however, highly strict regulations were created, and governed brokers to the point where many brokerage firms lost interest in the industry. However, drastic changes in federal transportation policy that occurred in the 1970s lifted multiple regulatory restrictions, creating entrepreneurial opportunities in the 3PL sector.

As the industry expands, a wider range of participants is incorporated to sustain the industry. Some of the participants have certain responsibilities in common which may make their differences less obvious. However, the key participants in brokerage include shippers, freight brokers, motor carriers, import-export brokers, and freight forwarders.

A Look at Season 3 of Formula 1 – Drive to Survive on Netflix

Modern device with netflix app Free Photo

A former partner at RLS International Transportation, Stephen Patrick Day has served as president and CEO of Houston, Texas-based Logistics Group International (LGI), Inc., since 2002. He is also a partner at Petro Wire & Steel, Ltd. In his free time, Stephen Day enjoys watching Formula 1 racing.

Hardcore racing fans hoping to get a behind the scenes look at the world of Formula 1 can do just that by watching Netflix’s Formula 1: Drive to Survive. The third season of the acclaimed documentary series was released globally on March 19 and takes an in-depth look at the human elements of racing. In particular, it touches on Daniel Ricciardo’s surprising split from Renault and his decision to sign with McLaren. Ricciardo discusses the sleepless nights he had before making the decision, while Renault boss Cyril Abiteboul talks about his challenges in “not making it personal.”

Another episode of the series chronicles one of the most dramatic events not only in Formula 1, but in all of sport in 2020. Episode nine details Romain Grosjean’s crash at the Bahrain Grand Prix and his remarkable escape with just minor injuries after being stuck in the cockpit of his on-fire vehicle for 27 seconds. Grosjean struck the barrier at 192 km/h, and footage depicts the horror felt by his team and fellow drivers.

An Overview of TIA Membership Benefits

Stephen Day serves as the president of Logistics Group International, in Houston, Texas as well as a partner at Petro Wire & Steel, Ltd. Beyond his leadership activities with Logistics Group International, Stephen Day engages with professional organizations such as the Transportation Intermediaries Association (TIA).

TIA provides members with a wide range of benefits, including professional education opportunities. To begin, TIA members can pursue the certified transportation broker (CTB) designation, the transportation industry’s most widely recognized certification.

Furthermore, members have access to various education and consulting services. Services have been designed to help members develop improved business strategies and optimize their third-party logistics (3PL) operations, with support geared towards both industry veterans and new 3PL practitioners. These services can be accessed 24/7 via the TIA online portal, with open enrollment further supporting the crowded schedule of an active 3PL professional.

Finally, TIA hosts several meetings designed to enhance professional knowledge and industry awareness, including the TIA Capital Ideas Conference and Exhibition, the TIA 3PL Technovations Conference, and the TIA 3PL Policy Forum.

Entrepreneurs’ Association Launches 200th International Chapter

Stephen Patrick Day has served as president and chief executive officer of Logistics Group International in Houston, Texas, since 2002. He expanded his professional activities in 2007, becoming a partner with Petro Wire and Steel, Ltd., and again in 2009, entering into the role of president at LGI Transport, LLC. Despite his responsibilities with LGI and other business interests, Stephen Day makes time for professional organizations, such as the Entrepreneurs’ Association.

The Entrepreneurs’ Association (EO) consists of more than 14,000 members in 61 nations. As 2020 drew to a close, the organization celebrated the opening of its 200th global chapter. The 2020 fiscal year saw the opening of both the EO Navi Mumbai and the EO Odisha chapters. The fact that EO managed this international growth milestone amid the COVID-19 pandemic is all the more indicative of the organization’s ongoing worldwide expansion.

Kabir Taneja, president of EO Odisha, the newest of the two chapters, took comfort in the thought of entrepreneurs from around the world coming together for education and professional development in such trying times, while Pranav Batra, learning chair at EO Navi Mumbai, was confident that their chapter would have a significant impact on the region.

Batra’s optimism is not unfounded, as EO members have enjoyed considerable success in recent times. In 2020 234 EO member businesses were on the Inc. 5,000 list.

Introducing the TIA New Broker Course

Based in Houston, Texas, Stephen Patrick Day functions as president of LGI Transport, LLC, as well as president and chief executive officer of Logistics Group International. In addition to his leadership responsibilities with LGI and other business interests, Stephen Day engages with professional organizations such as the Transportation Intermediaries Association.

The Transportation Intermediaries Association (TIA) New Broker Course provides individuals with the opportunity to learn from the industry’s most knowledgeable minds. Rather than being developed by one industry leader or single company, the New Broker Course has been created by a full team of third-party logistics leaders. The course has been specifically designed for individuals beginning their freight brokerage and transportation industry education.

Areas of focus range from how to build lasting business relationships to regulations and licensing processes. Participants can expect to learn from a number of unique, real-world scenarios while utilizing on-demand course materials that allow them to learn at their own pace.

More insight into the TIA New Broker Course, including registration and pricing information, can be found online at www.tianet.org.

Overview of the Certified Transportation Broker Program

The president and CEO of Logistics Group International (LGI), Stephen Patrick Day is an entrepreneur within the freight brokerage industry. In addition to managing LGI, Stephen Day serves as a partner with Petro Wire & Steel Limited in Houston, Texas. He holds several board memberships in the logistics industry and is a certified transportation broker.

The Certified Transportation Broker (CTB) Program is a prestigious and widely recognized certification course that trains transportation brokers to master the basic knowledge of the brokerage and transportation industry. The Transportation Intermediaries Association (TIA) presents the CTB certification to professionals who pass all three sections of the program: brokerage basics and basic business skills, traffic management and transport services contracting, and legal and regulatory issues.

The curriculum offers insight to transport brokers on how to increase business acumen, improve operational and sales skills, and better manage risk. Completing the course takes a participant to the next level: exam. This is a four-hour multiple-choice test that covers all course sections. Furthermore, participants can review course sections prior to taking the exam through the CTB Online Study Course, which lasts 17 weeks. Eligibility criteria for the CTB program includes professional experience and education in the property brokerage or logistics management sectors.

How AI Can Change the Face of Logistics

Stephen Day, the CEO and president of Logistics Group International (LGI), has been working in the transportation and logistics sector for more than two decades. The previous partner at RLS International Transport, Stephen Patrick Day offers numerous transport and logistics services through LGI in Houston, Texas.

As with any industry, the supply chain and logistics sector is heavily impacted by continuing technological advancements, one of which is artificial intelligence (AI). AI solutions have been steadily implemented by many logistics companies over the past few years and are capable of generating anywhere from $1.3 trillion to $2 trillion a year by saving companies money and automating time-consuming actions. In fact, as trends toward AI adoption continue through 2020, the technology is expected to benefit many involved in the logistics sector, such as shippers and carriers, along with consumers.

In the logistics field, AI can be utilized to automate many warehouse operations, such as inventory processes and data collection. This improves the accuracy of demand predictions and helps with advanced logistics planning. The sector can also benefit from the increasing prevalence of autonomous vehicles, smart roads with solar-powered LED lights, and back-office assistance all made possible via AI technology.

How Logistics Companies Can Streamline Operations to Boost Efficiency

An accomplished Houston, Texas logistics expert, Stephen Day guides Logistics Group International (LGI), a third-party logistics company, in facilitating cargo movement across the United States, Mexico, and Canada. As president and CEO of LGI, Stephen Day has worked extensively on ensuring that the company adopts the best logistics practices to maximize efficiency.

The logistics industry has undergone major changes to adapt to the modern business landscape. With the demand for logistics and transportation rising across the globe, companies are seeking best practices to increase efficiency and shorten supply chain cycles as well as source for affordable materials thus reducing business costs. Rapidly changing logistics requirements call for the establishment of an efficient logistics management system to closely monitor the execution of processes within the estimated budgets and time limits.

To achieve this, companies should determine the optimum logistics management model which should specify which aspects of logistics and supply chain a firm can perform in-house and what should be outsourced. Doing this enables businesses to evaluate various models and choose the most appropriate model that can be easily implemented into business operations.

In addition, companies should establish strategic relations with logistics service providers (LSPs). LSP friendly programs are being formulated to help raise the standards of collaboration on issues such as rate negotiation, bidding processes, customs clearance processes, and develop packaging protocols to facilitate easier handling.

LGI’s Logistical Planning Process

Houston, Texas-based heavy freight services provider, Logistics Group International (LGI) is led by Stephen Patrick Day, a certified transportation broker. Stephen Day is the president and CEO of LGI which is one of the premier transportation providers for the oil and gas and mining industries in the United States.

Logistics Group International makes it a priority to execute flawless planning for their clients to ensure the safe and timely transport of equipment. The first step is to survey the site and decide on what lifting and hauling equipment will be necessary for the project. The experts at LGI work with their contracted service providers to map out the best possible route for the equipment and what permits are necessary to safely transport.

With access to a network of over 20,000 carriers, LGI sources the best possible equipment for the job and secures support services such as escorts and pole trucks. If necessary, they also can outsource any customs documentation needed and work with customs brokers to expedite shipments across borders. The entire process is tracked and monitored end to end and you can always know exactly where your shipment is and the estimated time of arrival.

Recourse Versus Non-Recourse Factoring for Logistics Brokers

tephen Patrick Day is president and CEO of Logistics Group International (LGI) in Houston. Drawing on decades of experience in the transportation industry, Stephen Day founded LGI in 2002 with the goal of becoming a top logistics provider to the oil and gas, petrochemical, manufacturing, power generation, mining, and construction industries.

A problem many logistics brokers face is balancing a client’s credit needs with their own cash flow. To solve that, many choose to use invoice factoring, a common practice in the logistics brokerage industry. Invoice factoring basically involves selling invoices to factoring companies to get cash immediately rather than wait for a payout.

There are two kinds of invoice factoring. In a recourse agreement, when a client files for bankruptcy, the logistics broker is still responsible for the money advanced by the factoring company, so it tends to have fewer associated fees than the alternative.

In a non-recourse agreement, the company is not liable for the payment if its client goes bankrupt. This gives the logistics broker added protection when dealing with riskier clients, but also carries a larger service fee.