The key to better logistics is a streamlined system that utilizes business intelligence and processes that yield transportation optimization. However, the efficacy of optimization, guided by business intelligence is only effective if you have quality data history and validity that provide actionable insights. There are ample devices and systems that pour data into the supply chain. Companies who ship multiple modes and at a large volume need to consider where the data comes from and how it's used.
Consider this. As reported by PYMNTS.com, "That includes the embrace of the Internet of Things (IoT), where fleet vehicle electronic logging devices (ELDs) and sensors can gather and transmit a greater level and quality of granular data, promoting capabilities like real-time product tracking or the monitoring of temperatures as products move." Working with old and outdated processes greatly limits what a supply chain is capable of achieving. Now, enterprises worldwide are turning the tables and looking for ways to enable continuous transportation optimization using a combination of technology and expert provided solutions. That makes these technologies and solutions, including analytics and business intelligence, essential for success for those seeking optimization of transportation decisions that lend themselves towards a reduction of operational costs and gained efficiency.
While they may have worked in the past, outdated systems and processes must be turned into automated systems and digitized processes. Limited data and inefficient technology open shippers to a wide range of problems and challenges, including the following:
Higher shipping rates, lost customer revenue, wasted working hours, higher costs and fees, wasted revenue, low customer satisfaction, and lost opportunities are just some of the things poor optimization can cause. Without transportation optimization, those problems become the norm.
Using transportation optimizers, it's easier to see where the low-hanging fruit lies. And using advanced shipping analytics tools, enterprise shippers can pin down the problems, isolate their causes, and force them into retreat. That includes issues in sourcing transportation capacity, freight settlement, and recordkeeping. The simple step builds on itself, adding more value as the supply chain becomes more efficient and reliable. And through the application of both throughput and finance supply chain KPIs, it's possible to capture bigger spend reductions.
Therefore, cost reductions and streamlined management becomes the standard for success and ensures smooth business growth. But that's only the beginning.
Embracing technology will help managers across the industry prepare for the future growth of the industry. Technology used for transportation optimization yields significant benefits, including:
By embracing modern innovations and making the most of transportation optimization processes, freight managers can position their organizations to benchmark, improve, and validate positive results. Of course, that all depends on having access to quality, experienced and reputable business intelligence providers like Intelligent Audit. Contact Intelligent Audit to get started with your risk-free consultation today.
Set up a call with one of our experts to discuss how Intelligent Audit can help your business uncover opportunities for cost reduction and supply chain improvements through automated freight audit and recovery, business intelligence and analytics, contract optimization, and more.
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