Increasingly, logistics leaders are expecting their teams to leverage supply chain data in their day-to-day work. But while most companies have a lot of data to play with, few are using it to its full advantage.
Being a data-driven company is about more than just amassing endless amounts of data. It’s about knowing what to look at and when—and how to apply it appropriately in the decision-making process to drive constant improvement.
It’s about quality, not just quantity
Even moderately complex supply chains generate vast amounts of data. From shipment tracking information to invoicing details, there’s a wealth of supply chain data that companies can use to elevate their operations—but only if they’re as diligent about quality as they are about quantity.
This is often easier said than done. With so much data flowing through their organization on a weekly basis and often becoming siloed in disparate systems and facilities, shippers sometimes struggle to aggregate their data in a timely fashion, leaving them with blind spots and making it harder to draw accurate conclusions. And if they don’t have a strong process in place to clean and normalize their data, any results they obtain may be wildly misleading. Having the right tools is critical for total visibility.
A robust and unified TMS can help, so long as it is properly integrated throughout the business. For instance, Honeybee TMS™ can be configured to normalize data across the supply chain so that discrepancies like spelling variations from one country to the next don’t skew the results.
It’s not just about what you’ve done—it’s what you can do
Another challenge that shippers often run into when trying to adopt a data-driven approach is knowing how to translate historical data into meaningful predictions and actionable insights. Some have gotten to the point where they can look at a report and evaluate what they did well or didn’t do well in the previous month or quarter. But taking things to the next level by using that data to look forward still eludes them.
BI solutions empower teams to take this next step. Rather than presenting supply chain data as an overwhelming mass of numbers on a spreadsheet, these solutions transform this information into intuitive dashboards and clear data visualizations that make it easy to pinpoint trends and opportunity areas. This also empowers staff to present complex logistics data to leaders across the organization in a way they will understand—opening the door for more productive conversations and greater buy-in.
Do more with your supply chain data
Adopting a data-driven approach to supply chain management can make you more resilient and adaptive—while helping you spot opportunities to elevate your operations and cut costs.
CTSI-Global can help. Our industry-leading TMS, freight audit solutions, and business intelligence applications make it easy to collate, synthesize, visualize, and analyze all your supply chain data, with or without data science skills on your team.
Make the most of your data. Contact us today.