Business Intelligence: A helping hand for Logistics Companies
In the dynamic industry of shipping and logistics, success can only be achieved by staying ahead of the curve. Massive changes over the last few years have forced logistics companies to reevaluate their business models and strategies. Even with flawless time management practices and cost-effective measures, we need to go the extra mile to provide the best service possible to our clients.
The present freight shipping industry demands technical support that can assist with every aspect of freight management. Data from every part of the process needs to be carefully analyzed and evaluated to obtain actionable insights. These insights can help your business thrive by enhancing your existing shipping process. Business Intelligence plays a vital role in gathering these insights.
Why does the freight Industry need business intelligence?
Recently, BI tools have taken over the Logistics industry with functions like predictive analysis, OLAP, interactive dashboards, warehousing, etc. Giants of the logistics industry are actively utilizing Business Intelligence to get a clear and unified view of their entire supply chain.
Business Intelligence can help you enhance some of the core areas of your business when it comes to shipping:
- Warehouse management
- Inventory management
- Transportation management
In this article, we’ll examine the primary challenges in the industry right now and how business intelligence can help both carriers and shippers alike.
What are the most common challenges that Logistics companies encounter?
You must have encountered several challenges while handling freight management and supply chain. These problems typically pop up on the radar when they start directly affecting your business goals. Some of the most prominent issues in the industry are as follows:
- Labor Shortage – As a business owner. It’s nearly impossible to run a healthy business without an adequate workforce. Let’s say you attempt to resolve this issue by hiring. The trouble of training new staff will be your next hurdle.
- Documentations and Invoices – Documentation is crucial in logistics and supply chains. While handling piles of paperwork, making minute errors is inevitable. Luckily, with Freightera you know that part of the problem is taken care of and handled in one easy-to-manage place.
- Carriers and Rates – Finding the best carrier can be a tricky job. Either you’re flooded with options or have no idea what to look for. Shipping rates can become a burden if you don’t choose wisely. We firmly believe that you should be able to pick the best freight rates that suit your needs from multiple carrier options.
How BI can offer solutions for each of these problems?
It’s amazing how Business Intelligence can help you resolve all these issues while helping you save time and money simultaneously. Here’s how BI supports your business:-
- Shipping companies can improve their overall customer service by leveraging BI. It can provide a permanent solution to labor crises by successfully executing most tasks that require human intervention, like simplifying and automating communication, problem resolution, timely support, sending notifications and updates, etc.
- Logistics companies work with vast amounts of data like orders, shipment information, carrier details, invoices, etc. Keeping records is not an easy task and comes with a high possibility of errors and data losses. For our clients, this problem is solved by using our serivces, but if you’re a carrier or a logistics company, you might want to look into business intelligence options to help you manage your workload.
- Freightera already helps you select the best carrier option based on pricing, service quality, speed, emission reduction, etc. This makes lives easier for our clients and carriers alike by providing everything in one place for both parties. However, logistics companies that require external sollutions might want to look into BI options to help them optimize their shipping routes, times, market trends, and more.
How BI provides direct assistance in shipping?
BI can directly assist in the freight shipping process and ensure smooth delivery of different kinds of freight. Let’s take a look at how BI can help you enhance shipping and delivery:
Route Planning – BI can plan the best possible route for shipping to ensure timely delivery and minimize the cost of delivery.
Load Planning – LTL shipping involves shipping and delivering multiple orders for different customers by one carrier. BI can help carriers by analyzing various types of shipping data to identify improvements in load planning operations.
Leveraging data-driven decision-making allows businesses to make informed choices, minimize costs, and enhance customer satisfaction.
Safety and Compliance – BI ensures that the carriers follow all compliance safeguards and parameters while delivering cargo. From weight checks to securing the load, BI removes the risk of human error or forgetfulness.
Live Tracking – BI can integrate data from transportation management systems, GPS, and navigation systems to provide live tracking options for monitoring shipments.
To round up
If it wasn’t clear by now, Freightera makes freight shipping easy, accessible, and green. We offer everything but physical labor services, all in one place at the tip of your fingertips. However, if you need any additional help, it’s not rocket science! You don’t have to be a tech genius to work with business intelligence tools.
It’s easy to learn and requires simple training. Additionally, providing BI training to your employees will empower them to interpret data, which will yield great results in the long term.
With Power BI training, your staff can make data-driven decisions, plan operations, and generate more profits.