How Can Shipment Data Increase Your Company’s Profitability?
Shipments worldwide are multiplying in volume and monetary value every year. The huge volume of shipment data produced by Logistic processes need to be qualified and well interpreted in order to benefit any company.
This database includes shipment status data, route data, transportation provider data, metrics and KPIs, forecasts and so on
How can this data be of your use?
Operational decisions can be made rapidly and efficiently by comprehending acquired data with the help of advanced digital processes. Businesses worldwide are building their profits by using dynamic Business Intelligence tools to assist the company growth.
Reports created by BI tools representing data in easily accessible formats help users make informed strategic decisions. Moreover, benchmarking, dashboard development and summary generation adds immense analytical value to business development initiatives.
Such crucial information can be forwarded to the end consumer keeping them updated on their delivery status. All parties involved can be notified in case of any distress occurred. Also, any avoidable route can be recognized leading to avoidance of those routes and additional distress. This ultimately enhances on time delivery and drives down any additional cost.
The shipment data processed by these tools in past can be analyzed in order to create forecasts, find root cause of persisting issues in the supply chain or any particular route and measuring performance of the entire Supply Chain. Furthermore, having easily understandable data provides a platform and basis for productive discussion between the Supply Chain Partners.
Comparing these reports and summaries against the reports of peers for a particular time, shipment mode or route leads to enriching performance analysis within the market.
nVision Global’s BI tools such as iReports use factors that are most important for Logistics management today, such as on time delivery, tender acceptance rate, carrier performance in a given route, weight type etc. These factors can be determined by the users themselves which can be a boon for those shippers who are looking for extremely specified data pertaining to their business.
Comprehensive set of templates that are easily understandable are used for report and summary generation by these tools. nVision Global works with more than 1000 standardized templates for these reports. Also, reports created are in downloadable MS formats. Thus, they can be stored by shippers to enrich their business database. Through such solutions businesses are aided by reduced in-house operational costs on analyzing and understanding the data for quicker and better business decisions.
In conclusion, shipment data that has been organized and presented in a logical manner can reduce the risk assessment and data mining costs of any enterprise while simultaneously promoting positive performance and quicker decision making process.
If you have shipment data, make best use of it to increase Supply chain productivity and increase profit rates. Partner with nVision Global and leverage from our advanced tools that achieve these benefits for your company.