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In today's fast moving, (well it's a little slow right now) economy, more and more companies are looking to receive information about their transportation and logistics costs in a timely fashion to help them better manage their business. The real question for these companies is "why do I need this data?" The answer is pretty clear to us.
Many companies have invested a significant amount of money to obtain the benefits this data will provide. If the data is mined and reported properly, the company will get everything they ever wanted to know about their transportation and logistics expenses. The best way for a company to look at this data is to analyze what happened in the past, what is happening now and what is most likely to happen in the future. It should provide a good sanity check of what's really going on.
The main benefit of this data is to give the company the necessary tools to manage their business going forward and not to look backward. It should also have the ability to provide this data, error free and in real time. The end result is to ensure the company's competitive advantage to help the company out perform its competitors.
There are also strategic by-products the company can gain from this data. This would include discovering opportunities and threats that might not be evident otherwise. It will help companies to reduce their exposure to fraud by matching the data to specific business rules. By maintaining strict controls over the data flow a company can see their assumptions in action, allow them to make data driven decisions based on facts and build customer loyalty in the future, a combination that cannot be beat. Is your company looking into transportation and logistics analytics to enhance your company's competitive position? If not look around the corner... Here comes your competitor.
Anthony Nuzio is the President of ICC Logistics Services, Inc and a globally recognized expert in the transportation and logistics field. He is a former adjunct professor at Nassau College and the U.S. Merchant Marine Academy and works with a team of skilled professionals to achieve bottom-line cost savings. Visit Anthony on the web at http://www.icclogistics.com/. Click here; to learn more about Anthony.
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