Today digitization is important for the success of every business strategy. The shift from retail to e-tail is the most significant change and opportunity the logistics industry has witnessed since the integration of the global supply chain. The rapidly increasing competition to deliver the ever-growing volume of products bought online is boosting the growth of the logistics industry. With the increase in the volume of supply chain and logistics data, new opportunities to boost efficiency and customer experiences has grown significantly. Therefore, it is high time that logistics companies should invest in logistics analytics to integrate and streamline their businesses and expand their market share.
Logistics analytics helps companies in the logistics industry to detect patterns, anomalies, performance issues, and future failures.
Logistics analytics can help companies to derive insight from vast volumes of streaming data for truly real-time on inventory optimization, route optimization, and transport analytics. By leveraging logistics analytics solutions, companies can gain deeper, faster, actionable insights into operations, customers, and markets gaining an edge over competitors successfully. In this article, our logistics industry experts have discussed a few ways in which logistics analytics can help companies to address the challenges presented by the growing unpredictability of data.
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Benefits of Logistics Analytics
Improved Fleet Management
Transportation companies generate a plethora of data from several sensors and operational systems, but until recently, these data sources were not connected. The challenge for logistics companies today is to figure out how this data can be used effectively to devise route maps, manage transportation networks, improve operations, and reduce costs. By leveraging logistics analytics solutions, companies can act on real-time transport data and optimize freight movement and routing efficiently. Also, this can help in optimizing fleet operations, improving customer experience, reducing environmental impact and optimizing transit schedules by predicting the impact of congestion, maintenance, and accidents.
Route Planning and Optimization
By using logistics analytics services, companies in the logistics industry can integrate data from vehicles, scanners, sensors, personnel, and live weather and traffic reports. This can help them to manage and deploy assets more effectively. Also, they can discover and act on insights to optimize delivery routes in real-time. Furthermore, such insights help in improving route planning, rerouting, and supply chain optimization and enhancing the customer experience.
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Companies need real-time insights into their logistics and transportation systems to view and track deliveries for stores. Also, they need inventory systems that can react swiftly to a variety of data feeds to make up-to-the-minute routing and inventory decisions. With actionable insights powered by logistics analytics, enterprises can better manage the workforce, supply chain, inventory, overstocks and spoilage, and avoid stock-outs.