IL2000 White Paper Series

HANDBOOK OF GAME-CHANGING DATA ANALYTICS 

FOR TODAY'S SUPPLY CHAINS

Imagine a world where you have a destination in mind, yet you have no idea how to get there, what the terrain is like or what road to take. You only have a description provided by a person who took the journey in the past and their memory is patchy. Yet, they remember tiny details that seem insignificant, like the sound of rushing water, and it helps you to know that somewhere along the journey there’s a river. This example is similar to how logistics management can apply supply chain analysis to find out more about what’s behind our memory of the way things are within the supply chain. 

I.    Supply chain analytics: A game changer in reducing freight expenses

Navigating the labyrinth of supply chain management reveals a complex network where inefficiencies, much like weeds in a garden, can obstruct the flow of operations and inflate costs. The intricate interplay of various elements within this ecosystem often conceals these inefficiencies, making them challenging to identify and address. By deploying analytics, businesses can illuminate these hidden issues, akin to gardeners who, with the right tools, can discern the subtle signs of underlying problems. This proactive approach allows for the strategic eradication of inefficiencies, paving the way for a more streamlined and cost-effective supply chain. 

• Misaligned inventory across individual nodes, but the right partner can help to identify the best opportunities for rebalancing your distribution network.
• Inefficient route planning leads to added costs, and a true freight consulting partner can help to find the best route, not just the cheapest route.
• Vendor compliance issues remain rampant, but again, a logistics partner helps to hold vendors (aka truckers and individual companies) accountable.
• Fluctuating fuel costs are omnipresent, yet shippers can and do overcome their impact by tracking the data and maintaining accuracy with freight bill auditing.
• Manual data entry errors result in big problems, but a team of experts in your corner that validates integration via an API-enabled transportation management system (TMS) reduces the risk.
• Lack of real-time tracking and communication lead to downstream network complaints, but easy-to-user interfaces with push notifications keep you in the know.
• Unsustainable packing or staging practices result in missed opportunities for optimization, so a strategy to peer beyond the virtual veil with in-person visits can find the simplest issues you might have overlooked. 

Download the full white paper below to boost your supply chain analytics implementation and application today!

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