TMS Talk Series – Part 5: Propelling Your Organization into the Future with Meaningful Data
Welcome back to our “TMS Talk” series, where we are discussing what the right transportation management technology can do for your organization. In part 5 of this series, we’ll discuss how a TMS can help you use meaningful data to empower your organization to tackle anything that may be on the transportation horizon.
In order to drive sustainable, impactful change within your organization in the modern day and beyond, it’s important to have the tools and expertise to turn data into actionable business intelligence. Your company’s TMS has to be ready and able to handle anything currently in your supply chain operations, as well as what’s coming in the future. Do you have what it takes?
TMS + Enabled, Actionable Data
In the ever-evolving world of drones, autonomous and electric vehicles, and a myriad of other emerging technologies, it’s important for organizations to still keep management in mind. While new technology is thrilling and can provide enhanced supply chain efficiency, lower a company’s carbon footprint and provide meaningful, actionable business intelligence, proper management of that new technology still matters.
The right supply chain data can help drive better decision-making, but the sheer amount of data surrounding the modern supply chain can be overwhelming, and can require a significant investment to have the tools necessary to capture the data and then analyze it. But the ability to access and analyze this information is only the first step. What makes this data truly valuable is turning it into actionable insights that drive meaningful change within your organization.
Having an old or limited TMS system – or not having one at all – may result in a lack of visibility into your supply chain, and hinder your ability to truly analyze your transportation network in order to eliminate waste, reduce costs and better serve your customers. From predictive analytics that include automatically-updated weather alerts, to precise latitude-longitude coordinates of shipments – the right TMS should be locked in to the future and able to handle information from the Internet of Things (IoT) and the IoT-enabled vehicles that will be a big part of our future.
TMS + Your Transportation Future
Greater access to data allows companies to compare final shipping results with their initial goals, enabling them to better understand how to adjust transportation plans moving forward in order to increase efficiency, reduce costs, enhance customer service and improve carrier relationships. For example, digging into data can allow companies to identify which customers have frequently small shipments that could be consolidated into a single truckload. This provides a more strategic way to take cost out of the business versus simply finding a better rate or a different carrier.
Additionally, it’s this access to data and the ability to make it actionable that allows organizations to be more proactive in their transportation planning – driving greater cost savings and customer service, and enabling the long-term advanced planning necessary to mitigate risk. Organizations can also use this data to ensure that all transportation activities – both internally as well as suppliers, carriers, customers and other business partners – are in line with their overall business strategy and goals and can support growth plans.
It’s important that shippers and 3PLs alike don’t simply try to meet the needs of today’s supply chain, but instead be preparing for 2020, 2025 and beyond. This helps to ensure that all are ready for the future of the transportation industry, whether that is a shipment on an over-the-road truck, an autonomous fleet or a flying drone.
How is your organization using data to better your operations?