Data and analytics are transforming many industries and businesses, and logistics is not an exception. The complex and dynamic nature of this sector, as well as the intricate structure of the supply chain, make logistics a perfect use case for data.
competition in the logistics industry is fierce with new players constantly challenging the traditional way of conducting business. To effectively compete in this industry, organizations must improve operations, distribution, and fleet management to better react to changes in costs, market consolidation, and global competition.
Logistics analytics is a term used to describe analytical procedures conducted by organizations to analyze and coordinate the logistical function and supply chain to ensure smooth running of operations in a timely, and cost-effective manner. The logistics industry might be the very sector that could make the most out of big data and business intelligence, as long as it knows how to take the best advantage out of them. The hugeness of the flows handled every day with all the shipments, their weights, sizes, contact details or returns is generating an incredible amount of data that has to be managed.
Take advantage of innovative logistics analytics and turn your logistics data into actionable insights to improve your business performance.
- Conduct detailed cost benefit analysis to improve your profitability
- Simplify your supply chain while increasing operational capacity planning
- Optimize your on-time final deliveries to ensure customer satisfaction
- Make important business decisions based on real-time data
- Estimate future bottlenecks and peaks thanks to predictive analytics
“According to A.T. Kearney analysis, anticipatory logistics is highlighted as one of the most impact-full trends in logistics for the next 10 years. The data can be utilized for the performance visibility as well as enhanced predictive analytics (including AI) in order to optimize scheduling, routing, asset utilization and overall performance.”
Companies in the logistics space need to invest in a data management solution that delivers timely information on-demand to those who need it most. A solution should deliver easily digestible visual analytical reporting, graphing, mapping, drill-down, modeling and bench-marking tools necessary to achieve ongoing business process optimization.
As the logistics sector is highly competitive and operates on extremely thin profit margins, recording this kind of data that gives a birds-eye view over the entire supply chain – much in the same way as Amazon does – is the only way to stay relevant and competitive.
The Logistics and supply chain businesses need to be able to measure their own KPIs, as well as deliver knowledge about all these complicated systems to the different agencies involved and to end users and customers. Those T&L companies that take on a data-driven approach to their business, and provide transparency and self-service analytics, not only improve efficiencies and customer support but take on a competitive edge in the market that helps propel them to be leaders in their field.