How Supply Chain Route Optimization Services Helped a Leading Bank Reduce its Transportation Costs in Refilling Routes?

Aug 23, 2022

Highlights of the Case Study: 

Particulars Description 
Client A leading bank in Asia was struggling with high transportation costs and a lack of guidance on the optimization of routes. 
Business Challenge Our client wanted to reduce service delivery costs by optimizing the transportation routes and eliminating inefficiencies. 
Impact Quantzig offered a supply chain analytics solution that examined network restrictions, travel routes, demographic information, service delivery schedules, and cost information. These insights helped the client to enhance its logistics and route planning capabilities.  

Game-Changing Solutions for the Banking Industry   

The adoption of AI is transforming logistics, transport, and supply chains in the banking industry. Delivery efficiency has increased, and wastage of resources has decreased. AI, in conjunction with IoT, has created new opportunities for effective management of operations and scheduling. The use of supply chain analytics solutions also helps banks effectively implement route optimization. They can combine transportation data with information from other databases to enable real-time monitoring. All these factors are hastening the adoption of AI in the banking industry. 

The Challenges of the Client

Our client is a leading bank from Asia that wanted to develop and assess its transit standards, recognize opportunities to reduce service delivery costs, and optimize transportation routes. The client was facing several issues resulting from the inefficient frequency of delivery, high fleet maintenance costs, poor traffic predictions, and lack of route optimization strategies.  

The client approached Quantzig for a tailor-made solution capable of analyzing and optimizing transport routes, reducing costs, eliminating inefficiencies, and developing a network optimization solution that ensured effective route planning.  

Quantzig’s Supply Chain Analytics Route Optimizaion Solution for Banking Industry 

Quantzig experts deployed a supply chain analytics solution that examined data on network restrictions, demographic information, travel routes, service delivery schedules, and cost information. Additionally, the solution created by our experts generated a great amount of data, which examined and identified trends and insights in real-time. The client used the supply chain analytics solution to increase productivity, decrease inefficiencies across processes, reduce delivery costs, and optimize transportation routes. 

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Impact Analysis of Quantzig’s Supply Chain Route Optimization Analytics Solution 

The route optimization solution offered by Quantzig helped the client to reduce its operating expenditure. In addition, our supply chain analytics solution enabled the client to get insights into its logistics routes and achieve higher efficiency. Besides these benefits, Quantzig’s solution impacted the client’s business in the following ways: 

supply chain route optimization
  • Automatically redirected drivers toward faster and safer routes  
  • Increased savings on fuel and fleet maintenance expenses 
  • Decreased transportation costs 
  • Improved route optimization 
  • Enhanced transparency 
  • Improved reliability 

Key Outcomes Route Optimization Solutions: 

Quantzig’s supply chain analytics solution helped the client to reduce its operating expenditure. Our supply chain route optimzation solution helped the client in gaining in-depth insights into their logistics routes. Our solution enabled the client to redesign their present logistics workflow and achieve the desired degree of efficiency. We were able to help the client enhance their logistics and route planning capabilities and decrease maintenance and renewal costs.   

A Broad Perspective on the Role of Supply Chain Analytics on Route Optimization Solutions in the Banking Industry: 

The adoption of AI improves fleet performance visibility and helps in lowering logistics costs. An AI-powered logistics platform allows precise load-vehicle matching and onboard capacity optimization, which helps decrease the number of non-essential vehicle hires and shipments transported by trucks, all without overloading a single vehicle. Costs can be considerably decreased by reducing the number of vehicle journeys. Furthermore, AI helps in deploying the proper quantity of assets in the right area and provides better resource allocation.  

It is essential for banks to manage their logistics operations and reduce transportation costs to achieve economies of scale. Therefore, banks have started implementing supply chain analytics solutions to reduce service delivery costs, optimize transportation routes, eliminate inefficiencies, and improve traffic predictions.  

Key Takeaways:

  • Optimized transportation routes 
  • Decreased service costs 
  • Decreased operating expenditures 
  • Accurate estimation of departure and arrival times 
  • Efficient frequency of delivery 
  • Improved routing strategies 
  • Improved weather and traffic predictions 
  • Lower dependency on manual intervention 

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Related Articles: 

How Route Optimization Solutions Reduce Transportation Costs for a Major energy Client? 

How CPG Supply Chain Analytics Helped with Supply Chain Optimization and Enhance Customer Satisfaction? 

Big Data Transportation Analytic Solutions Optimized Route Planning for a Banking Client 

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