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Adjusting current logistics strategies demonstrated the second great challenge of the pandemic. Embracing new and improved logistics strategies remains the best way to adapt to clients’ changing demands in 2021 and beyond. Now more than ever, shippers need to find innovative ways to make the most of real-time freight data and analysis.
From a financial standpoint, transportation cost analysis remains focused on determining the value of the resources used to execute a given shipment and goes well beyond benchmarking. Moreover, this kind of analysis does not focus on who ends up paying which expenses in the end. The challenges of limited transportation cost analysis.
Wasting resources and assets cost managers a pretty penny. Fortunately, smart data utilization can help reduce deadheading occurrences and make the entire supply chain more profitable. Waste matters in the shipping industry because every instance leads to higher freight costs. This will help in reducing rampant deadheading.
An optimized supply chain is one that is as efficient as possible; it is more likely to reduce costs, increase customer satisfaction rates, and add value for stakeholders. That means identifying areas of waste, overlap and large volumes and enabling continuous improvement through the use of transportation metrics to track performance.
All of these challenges potentially create waste in your supply chain. Download the WhitePaper. Cost reductionstrategies in supply chain management remain focused on getting loads from point A to point B as fast and as affordable as possible. That’s where data analytics comes in.”
In turn, that slows down contract freight and reduces how much contracted truckers earn. Utilizing applied technology helps freight management reduce issues during transportation that cause drivers and companies to lose money. Download the WhitePaper. As a result, more and more drivers will leave. .
UK based company Kite Packaging has launched its sustainable future plastics initiative to reduce plastic levels with the unveiling of its new mobile packaging test facility and the release of a whitepaper. Join us in saving 120 tonnes of packaging waste this year.”. images/pdf/plastic-white-paper.pdf).
Relying solely on manual shipping data analysis continues to yield poor results. Freight management analytics reduce confusion over what happened Problems will arise despite the best planning and preparation, but freight management analytics can help reduce their frequency and severity while making the entire process more streamlined.
Supply chain leaders continue to focus their efforts on finding the right mix of assets used, market positioning and carrier freight pricing strategies. When the freight market meets expectations and is less volatile, it is easy for shippers and carriers to not look at inefficient processes or their transportation procurement strategy.
Analytics-driven processes to reduce excess inventory. Shippers also need a way to look beyond the enterprise’s four walls to understand waste. Wasted warehouse space leads to higher overhead. Yet analytics-driven processes can reduce excess inventory. Improved planning through wait time analysis benefits all parties.
According to Supply Chain 24/7 , “ truckload service optimizes trailer space and moves freight [without extra stops that will] eliminatewasted trips, reducing greenhouse gas emissions by up to 40%.” Download the WhitePaper. This gets easier to accomplish with tailored benchmark data analysis. .
It is the best way to reduce costs, and gain a strong competitive advantage in the dynamic marketspace! So, if you are still wondering why to invest in an ERP software suite – don’t waste any more precious time. GET YOUR FREE WHITEPAPER. DOWNLOAD WHITEPAPER.
According to Greg Siefkin of Material Handling & Logistics , “Forward-thinking supply chain professionals are looking to advanced technologies to streamline processes, improve accuracy, accelerate delivery and reduce costs. APIs eliminate the inconsistency and risks associated with manual data re-keying. Download the WhitePaper.
WHITEPAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018. Download WhitePaper. Another significant area of risks worth mentioning is supply chain waste and disruptions arising from abuse and fraud. GET YOUR COPY HERE. We’ll review these points in the next section.
Predictive data analytics can be deployed to improve annual truckload RFP processes, understand how transportation analytics flow seamlessly into the next stage of data analysis and derive more value. Download the WhitePaper. And over time, they amount to a more robust, agile and enduring transportation strategy.
The book (with supporting writer Edgar Blaco ), for example, quotes an executive at one company saying that “If it reduces costs we will do it; otherwise we will not” with regard to sustainability initiatives.
Which is a nice segue to a simple framework Sheffi uses to describe three types of sustainability strategies.
An off-cited analysis from McKinsey in late 2017, for example, found automation could destroy as many as 73 million US jobs by 2030, about one third of all jobs in the country. The tendency, in general, to limit expenses and cost cutting on upgrades for technology and for talent have been hindering progress for the businesses.
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