The growing competition in all the sectors along with high fuel costs, demanding customers and the need of efficient delivery time have made it a challenging task for the businesses to drive sales and growth in the enterprises. The delayed decisions and inefficient business insights lead to an overall dip in sales and growth opportunities of the business.
This is where Analytics comes to rescue to bring you the Big Picture of your business at one single platform in real-time. From freight charges, to delivery status, to best logistics partner choice; Analytics Solution has it all right in front of you in real-time. This will empower the organization to bring in improvements in its shipment process, fleet management, delivery routes and even cash flows. Analytics can help you leverage your everyday data to grow and drive sales. Businesses generate an incredible amount of Data everyday that needs to be managed and tackled in time. But the question arises, Is your Data put to use in real -time ? Or is your Data potential still untapped ?
Challenges that come your way
# Unavailability of Data in real-time
When data of the organization is not availed to its people in real-time, it leads to increased chances of errors, duplication of effort and mismanagement of daily operations. With this comes complexity in forecasting the customer demand and planning inventory according to the upcoming demand, immediate product demand leads to delayed deliveries and high freight costs.
# Poor tracking of goods in transit
In order to identify the delivery process bottlenecks, the goods and their status is to be tracked in real-time. Poor tracking of goods does not allow to plan the schedules accurately, when the goods are to arrive ? how should the further production be planned ? When should the logistics provider be aligned ? getting answers to all these questions becomes a very time consuming task when the business is unaware of the delivery status of its goods.
# Inefficient planning of Delivery Routes
Inefficient delivery routes use more miles and time than needed. There are multiple permutations and combinations to consider and decide the delivery routes that suit best to the business. Manual planning methods take more time and do not give the most efficient routes, and the danger of missed and late deliveries greatly increases.
# Inefficient Inventory Management
A gamut of challenges such as omni-channel sales, seasonal demand fluctuation, overstocking, out-of-stock situations, back orders, order returns, and the constant striving for ever-shorter lead times create pressure for better warehouse process and operations management.
How can Analytics help you ?
#1Quality Decisions in Real-time
Data is to be made available to the right person in the right time to ensure operational efficiency. Analytics solutions ensure that data is availed in real-time and actionable decisions are made. Thus leading to quick and quality decisions with no chances of error, since there is no human intervention. It enables the business users to measure average efficiency of fleet ships, aircraft and vehicles to determine optimum capacity and number of assets required to reduce cost and optimize margins.
#2Real-time Tracking of goods
The speed of delivery is very important for the customers today. Tracking of goods in real-time will help you pinpoint improvement opportunities in the ongoing processes and help you collaborate better with your partners to deliver the goods in time to the customers. The Dashboards allow you to track your delivery status in real-time, you can get all the information about location, route, estimated time of delivery; all at a single platform.This will also increase the level of customer satisfaction since they will be able to track their order status in real-time from their smartphones and PC’s, enhancing the overall customer experience.
#3Reduced Costs by optimizing Delivery Routes
Analytics solutions help you optimize delivery routes, considering and verifying the appropriate route to get your goods delivered in time and at the lowest possible costs. Dashboards are designed differently to achieve certain leverage such as reduction in travel time, costs and to ensure maximal productivity of workers and vehicles. It enables more efficient shipments, better customer experience with more choice of delivery options, and requires fewer vehicles, thus reducing the overall costs of doing Business.
#4Accurate Demand Forecast and Stock Analysis
Real-time Analytics solutions can help you predict demand across multiple channels and demand patterns in the past. The overwhelming volume of data that is generated in warehouses can be used very well for forecasting the demand further, determining the ideal reorder point and understanding the consumer’s buying pattern over the time. Resulting in better stock management. Accurate demand forecast and stock gives sufficient time to plan optimum delivery routes and reduce costs significantly.
Switch to the ‘Smarter’ ways of Delivery
Analytics is no more a choice but a crucial requirement. The growing business sizes and the incredible amount of data generated everyday can make or break a business. Thus, it is very important for us to adapt the new data-driven and ‘smarter’ ways of Delivery to drive sales and cut down logistics costs.
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