How Data Analytics and Intelligence Are Transforming Supply Chain Efficiency
Paper, emails, spreadsheets, and messages are still part of the outdated processes that conform the supply chain industry. The shift to digitization has begun to be implemented in a more accelerated manner only since the pandemic. Meanwhile, without digitization, logistics becomes overwhelming and complex, prone to error, and focused solely on operating and putting out fires, without bandwidth to take things to the next level of operational efficiency and strategy.
With digitization only just recently starting to disrupt supply chains, the next step in this transformation is linked to leveraging effective analytics to mine data for valuable, proactive insights and accelerate intelligent decision-making.
So, how are data analytics and intelligence making supply chains more efficient?
1. Providing end-to-end cargo visibility to customers
One of the biggest challenges for moving cargo is having full visibility on the loads, especially when a shipper works with multiple vendors. It is impossible to know the latest shipment updates without calling different vendors, not to mention a shipper has to piece together the cross-board legal documentation alone and hope for the shipping to arrive on time. By digitizing the supply chain process and collecting the data through the life of load, now any shipper can have full visibility of their shipment. Data empowers shipping with high confidence and full control.
2. Relying on a single source of truth for shipment status
It can be difficult to know the latest shipment status when different cargo parties have their own processes. When it comes down to using spreadsheets or emails, information that’s delivered can more easily be prone to error. By leveraging the modern data stack, shippers no longer have to spend time checking in with stakeholders and making sure that the information coincides at every point. With the automation and centralization of data, they can save time and rely on a single source of truth for the latest correct shipment status.
3. Understanding shipper’s expectations versus reality to make operations more agile
By collecting data on what shippers expect and what is really happening with the shipment, it’s simpler to understand the gap between the expectation and reality. Data can give insights, reflect how goods have been moved and, most importantly, data provides direction to those involved in the transportation process to make logistics operations more agile and offer a better customer service and experience.
4. Using data to offer a more personalized service to customers
Data can reflect customer needs. By gathering data to understand shipper’s transportation needs, it’s easier to offer personalized information on their business so suppliers can offer solutions. Instead of talking to customers individually, data can be leveraged to predict how customers will evolve. Thus, solutions can be offered to ease and accompany the shift. Using data to understand customers is also a great way to identify pain points, to which technological solutions or additional features can be incorporated to improve the process.
“Creating standardized, structured data for the supply chain will empower the most impactful innovations in the industry. When truly structured data is widely available, many other innovations are enabled by leveraging tools such as APIs and integration technologies”, said Deepak Chhugani, Nuvocargo’s CEO, in McKinsey & Company’s Logistics Disruptors.
At Nuvo, we seek to make data smarter, leverage technology and structured data to offer a better customer experience and service, and open a gateway for further innovations in the industry. If you’re interested in letting the Nuvo team take care of your logistics so you can keep growing your business, book a shipment with us here.
