Data is Revolutionizing Supply Chain Management
The supply chains have always been driven by quantifiable KPIs and statistics. With the use of big data, analytics are revolutionizing the industry with real-time information that is collected, structured and used to make shipping efficient and cost effective.
Supply chains can be affected by different factors, some that are not predictable such as the weather conditions, breakdowns, unrest and so much more. Data can help managers get more efficient in dealing with unpredictability and help manage the process. Here are some ways that data really helps:
Providing deep contextual intelligence for the large amounts of data generated by the supply chains
There is a large amount of data generated from the daily supply chain activities. In fact, there are over 52 different sources of data that comes to a logistics company. It is a gigantic task to analyze this amount of data and make any logical conclusions. Fortunately, the big data analytics makes it easy to relate parts of data and come up different trends for decision-making purposes.
Enabling the building of complex supplier network with an aim of knowledge sharing and collaboration rather than just competing
Data can help suppliers navigate and prioritize collaboration with shipping partners, growing and capturing new markets. The supplier networks are using big data to come up with trends and share the information amongst themselves. Unlike in the past, the suppliers are not competing on who gets the best means of delivery but how they can enhance efficiency as an industry.
Big data is used to enhance optimization tools such as risk analytics, demand forecasting, supplier collaboration and integrated business planning among others
Big data plays a huge role in enhancing business optimization tools in the supply chain management sector. It helps the managers and their teams to prepare for both the problems and opportunities in the future of the business. This is very important in the maximization of profits, minimizing losses and ensuring that deliveries are done on time.
Big data also has a huge impact on the suppliers’ reaction time when problems crop up in the supply chains. This has gone a long way to increasing supply chain efficiency (by a whopping 30%) and increased supply chain integration. This has made the management of various shipping lanes easier while enabling business to get the cheapest delivery routes to clients.
How DTA Services can help!
Need to know what a shipment to a customer will cost before it moves? DTA’s Rates Online gives you instant access to all of your carrier’s rates, including applicable fuel surcharge and tax. Simply enter the origin, destination, weight and ship date and DTA’s rate shopper will do the rest. Rates are listed in order of least to most expensive and anyone in your organization that has access to DTA’s customer web portal can take advantage of this powerful tool.
Have you ever been asked for a transportation expense report that you had to build manually? Ever wished that your paid and GL coded transportation expense could be imported directly into your ERP system? DTA’s Logistics Management can help. DTA’s IT Solutions architects can turn ideas into effective solutions, if it’s possible, we can do it.
Please call or email us with any Logistics Management questions:
Tel: 416.487.3311 or firstname.lastname@example.org