Better service, optimized processes, and a strong top-line are what all businesses aim for continually. Investing in the right tools or logistics software makes the big goals possible. Data is the buzzword for businesses wanting to improve their basis for better decision-making.
Thankfully, Logisticians and Freight Forwarders have plenty of useful data available. Data can be transformed into meaningful reports to show:
- your most profitable routes
- modes that aren't as efficient as others
- details of customers with outstanding
With the happy news about data being available in the logistics industry, the disappointing part is many organizations are still working with dated tools. As large volumes of shipping transactions are added daily; to make sense of this huge data requires the judicious use of Logistics ERP Software.
Why is data so important today?
Whether it is responding to a quotation or preparing the checklist for Customs, data is at the foremost. The ways of keeping data have evolved from paper-based to electronic over the years. While keeping data records could be part of mandatory Customs requirements, it has greater purposes than doing just the minimum.
In a dynamic logistics world, data becomes a vehicle for staying updated on the market demand and fluctuation. Negotiating best rates with carriers, transporters and other parties requires information exchange back and forth. Data helps management to predict and estimate the volume of the freight according to days, weeks, or months. Based on such insights, you can define and alter cost structures for future business operations.
Ways by which your Data can be your guide
Freight Forwarding Software is ingrained with the functionality to extract meaning out of your data. This is more than just providing information required for mandatory purposes. Among the constant movement of cargo across cities and countries, you could be overwhelmed to track the status of all shipments manually. This is where data electronically fed into logistics software solutions unleashes its superpower. Visibility is a talked-about goal in logistics and it has got everything to do with DATA.
Has the Bill of Lading been generated? Was the invoice cleared? Is the container booked?
Answers to all such queries can be done via freight software -- in the form of easy-to-access reports and alerts that are auto-configured -- based on the progress of each shipment.
You can even make strategic decisions with the help of data. No need for relying on guesswork or unconfirmed information for crucial judgments. For example, a job profitability report can pinpoint you to precisely work on the routes that aren't generating revenue as expected.
Does it mean additional expenses for me?
Many freight forwarders have been using individual solutions for their daily operations. Like accounting software for financial needs, Customs solutions to handle clearances, a separate solution for transport, warehousing, and so forth. While all the individual solutions may seem less expensive but in the cumulative - due to the additional time, effort spent managing the lack of communication between the solutions - it turns out to be a reasonably large ongoing expense.
In comparison, when you opt for Freight Forwarding Software, you arm yourself with a data-intelligent solution that further helps you save costs in everyday operations. You can integrate all your branches' operations, monitor shipments, track all finances and accounts, manage Customs clearances, and more with a single Logistics ERP Software.
Getting Data-Smart
It may be a big decision to move from a known way of working to technology-guided holistic methods. Speak to a vendor of choice and understand how your goals can be aligned with the implementation of the logistics and freight solution. Data is an enabler for you to make decisions smarter and faster for growth in the industry.
Originally Published in Portcalls Asia Magazine
https://www.portcalls.com/let-data-be-the-decision-maker-in-your-freight-business/
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