We live in a world where you can track and report EVERYTHING. Daily steps, sleeping habits, the location of your parked car. So why is real-time reporting crucial for shippers in the $800 billion trucking industry?
Allow me to break it down into the three most significant impacts from the advancement of real-time data technology has made for shippers today.
1. Supply chain operations demand it
According to Cyzerg Warehouse Technology, “nearly 52% of responders classified supply chain operations as critically dependent on a technology operating effectively, 43% consider it critical in distribution departments, and 39% in shipping & receiving.”
So what does this mean?
Supply chain operations are dependent on the data they receive.
Technology has made the market more competitive than ever before, so it’s essential to be aware that you have the best, current technology.
2. Late deliveries are more costly than ever
It is imperative to know when, and where your carrier is at all times. Freight visibility can help generate opportunities for being proactive when it comes to time-sensitive delivery situations. If your carrier is late, it can affect the rest of the supply chain line. Alerting your receiver can redeem credibility when it comes to delayed, or on-time deliveries. A recent study from Transport Topics shows that 54% of 3PL will lose business based on the visibility of their shipments.
If you are a shipper than ask yourself…
Does the current technology you leverage answer questions, or does it leave you with asking more?
3. Analyzing reports helps your productivity
As a shipper, it’s vital to analyze reports on what made your shipment successful or unsuccessful. Having the benefit of analyzing data in real-time can help you learn from past issues. Being proactive on what works while also identifying what should change can save you essential time and money. For example, think of how much money you spend annually on fuel? Live data reports can help optimize your route to save you costs when it comes to your fuel economy.
Take advantage of the current technology out there; it’s designed with your best interest in mind.