Logistics managers must juggle many tasks regularly. It takes a lot to maintain business intelligence throughout the shipping network. Ensuring a smooth and orderly process can present a challenge. This will prove to be especially true in a time of ever-changing customer demands. Logistics data management remains essential to keeping the supply chain network profitable. However, many management teams still struggle with this concept. According to Inbound Logistics, “In an increasingly competitive marketplace, advanced analytics is the key to gaining access to hidden insights about your business that can drive growth and improve performance. Shipping and logistics companies are consistently behind other B2B organizations in their adoption of this technology.” That’s always vital for shipping managers to embrace a new and innovative approach. Learning to take advantage of logistics data management can help ensure success in 2021.
The Problem With Decisions Made Based on Old or Raw Data
Any data review and analysis can shed light on the supply chain’s inner workings. However, just having massive amounts of unstructured data and no way to analyze it does nothing for management. Without robust logistics data management analysis and application, data is useless. All the data in the world is worthless if it cannot get processed to address common problems.
- Order inefficiencies due to poor decision making.
- Shipping delays caused by delays in communications.
- Overall higher costs and expenses per shipment and order.
- Poor shipment execution and loss of effectiveness.
- Inadequate data response within logistics data management lines.
- Order or customer losses due to poor communication.
- Unnecessary fees caused by unproductive practices.
- Better utilization of advisory services from third parties.
- Slow response to disruptions and slow recovery time.
- Delayed communications and excessive downtime.
- Missed opportunities for shipment and customer acquisition.
Maintaining a healthy approach to logistics data management is essential for shippers. It reduces the severity and frequency of common problems in the network.
How Analytics Platforms Simplify Transportation Management Views
Maximizing logistics data management and analytics brings many great benefits. Within the supply chain network, analytical processes remain key. Analytics makes it easier for management teams to react to all data types. The concise analysis makes it easier to respond to problems and disruptions. Access to real-time data makes transportation management easier. Shippers and carriers can enjoy increased profits, reduced costs, and streamlined processes.
The Strong Benefits of Better Logistics Data Management
There comes a wealth of insight that is gained from accurate logistics data acquisition and management. Such insight is critical for growth and success in 2021 and beyond. Many far-reaching benefits come with better freight audit and management:
- Lower overhead costs and reduces operating costs overall.
- Streamlined data processing with cleansing and normalization of data.
- Data that gets collected will be more applicable and easier to understand.
- Proactive management to disruption-proof enterprise.
- Prioritization of shipments and greater control over personalized services.
- Increased financial stability and accountability.
- More options for shipping services and options available.
- Enhanced communications and networking options.
- Renewed focus on unified processes and shared goals.
Unlock Stronger Value With the Right Analytics Platform Provider
Logistics data management remains essential to keeping the supply chain network profitable. Unfortunately, many shipping management teams still struggle with this concept. Yet using data remains critical for successful management today, and the right transportation analytics platform can help your team stand out from the crowd and keep costs under control. Working with a trusted expert can make all the difference between utilizing analytics to improve transportation management. Request a consultation with Intelligent Audit to get started today.