An abundance of data on the supply chain/logistics sphere is generated and available at any given moment. But this has become a burden – what good is this wealth of data if you can’t turn it into actionable information that can be shared and used throughout the supply chain?
With each part of the process generating a sea of data, supply chain and logistics personnel can become paralyzed, having to stay on top of endless emails and constantly update stakeholders on the statuses of their cargo, based on fragmented data.
With all this rich, raw data and sometimes even useful insights, organizations are still being held back from connecting the dots and turning it all into action. Let’s take a look at the four leading reasons that your logistics organization find it hard to move from data to decisions:
1. Looking at all shipments
Organizations that waste time and human resources analyzing all cargo shipments cannot take quick and timely action. The key is to receive automatic alerts about problematic cargo to ensure efficient exception management.
Using exception management filters out the noise, so you are only alerted to shipments that are significantly or critically late, or early (which can also negatively impact your organization). For example, why receive alerts about 2,000 containers when only a handful require you to take action? Focus on what really needs your attention, and quickly and proactively take action to mitigate any potential issues.
With advanced AI ocean freight visibility solutions with machine learning models that generate real-time ETA predictions for entire global fleets of container vessels, your organization can monitor and analyze vast amounts of maritime data for exception management. There are several benefits to taking this approach:
- Enhanced efficiency: a focus on critical events means you can prioritize resources and efforts for more efficient operations, which helps the organization transition from being overwhelmed with data, to a decision-centric mindset
- Cost reduction: you can minimize contingency costs and avoid unnecessary expenses associated with shipping delays and disruptions in the supply chain, such as demurrage fees, detention costs, and other penalties related to non-compliance, or inefficient operations
- Improved customer experience: customers receive timely updates about any deviations in their shipments and can plan accordingly for potential delays or changes in arrival times, increasing trust and customer satisfaction
- Optimized shipping operations: exception management with advanced, data-driven analytics and insights into the supply chain’s performance and patterns, enable continuous improvement and optimization of shipping operations
2. The reasons behind the exceptions
While you may know about a delayed shipment, the reasons aren’t always clear. Over 40% of shipments worldwide are delayed. For freight forwarders, importers, and exporters, and others in the supply chain ecosystem, this is damaging. Without understanding the bigger picture, you’ll have a hard time updating your customers, and internally, it is more difficult to make decisions to resolve the problem. This uncertainty prevents planning optimization, which prevents organizations from moving to the strategic decision-making stage.
Knowing why your shipment was delayed further empowers you to plan your next move, save costs, and minimize the business impact of delays.
3. Inability to quickly share freight information
If you can’t share freight information, you cannot streamline your processes and get everyone aligned internally to make quick decisions. Sharing freight information in real time is beneficial both internally and externally. Internally, personnel must be able to maintain agility by sharing information, so they can quickly coordinate and strategize.
Externally, freight forwarders, importers, and exporters want a single source of truth and to quickly and effectively get a full picture of individual containers and their updated ETAs.
A shipment page with a real-time view of a single container, with automated tracking for both users and non-users, which can be shared as a link, or embedded into any external or internal portal, is essential. It streamlines the tracking process for customers, shippers, consignees, and other key stakeholders, seamlessly creating that single source of truth.
You can provide real-time shipment tracking, as well as detailed shipment information, container details, vessel details, transport plan details, and Maritime AI™ Predicted ETA compared with the latest carrier ETA, updated location on map with every data fetch or status change, and exception alerts.
In addition, using an instantly shareable link with exception alerts will empower logistics personnel to concentrate on their core business and efficiently handle vast operations, improving workflow management, and providing everyone in the organization with a holistic, updated picture of what is happening and where their attention is required.
4. Lack of integration with TMS & no “bring your own data” capabilities
Your actionable insights from your AI and predictive analytics ocean freight visibility solutions are in place. But it’s not enough…not being able to integrate actionable insights into your existing workflows, such as transportation management systems, is too time consuming when you’re under pressure and need to come up with quick risk assessments and decisions. If your maritime and trucking information aren’t integrated on a single screen, an excess of toggling and manual work is unwieldy and slow, and slows decision-making.
APIs can integrate AI-based maritime insights directly into your organization’s existing workflows and screens. Adding API technology to your system provides you with a complete picture on one screen, creating a unified, enhanced and seamless process. It adds advanced expertise directly into your existing workflows, without interruptions or changes to your ongoing operations.
You’ll want to select the maritime API or dataset most useful for your needs, to create your own customized bundle of maritime insights, mixing and matching APIs to your specific risk profile and business needs.
Additionally, the ability to bring your own data and enhance it with Maritime AI™ will result in more accurate insights.
With all the technology that’s available to logistics organizations today, the challenge is now about making it work for you. The right solution will help you gain the most out of your data through actionable insights, understanding what the issues are, sharing the information and creating one holistic picture to arrive at quick and smart decisions.