For years Transportation Management Software (TMS) has helped the transportation industry optimize delivery processes. But with fast evolving customer expectations and the alarming need to be profitable, businesses will need their TMS to do more, much more.
Today, logistics companies need solutions that are powered by cutting edge technologies like Machine Learning, IoT and Big Data Analytics to adapt to changing business environments. The need to deliver capabilities that ensure predictive visibility, boost collaboration, amalgamation of disparate data sources, geofence factory perimeters and help address exceptions better will gradually make traditional TMS redundant. So, here is a quick look into 5 add-ons your TMS needs to ensure your logistics processes stay relevant.
1) Predictive Visibility Capabilities
Long haul deliveries are prone to unprecedented challenges and poor visibility into delivery fleet makes managing logistics even more difficult.
Advanced logistics platforms can live-track trucks and trigger alerts in case a driver is taking unnecessary stoppages and diversions. These platforms can analyze historical data and plan routes based on their efficiency. By leveraging IoT and Machine learning, it can predict accurate ETAs and drastically reduce chances of theft and pilferage. According to reports, the average number of cargo theft incidents per month in the US is 54 and 61
2) Ability to Enhance Collaboration
A major challenge in the transportation industry happens to be fragmentation of stakeholders. For instance, a consigner does not know the trucker, the consignee has no clue about the 3PL provider who will be executing the delivery and so on. This lack of visibility and transparency across these value chains results in confusion and incorrect information being passed on.
Modern transportation platforms ensure real-time collaboration between all logistics stakeholders and hence keeps everyone abreast with the right information at the right time.
3) Capability to Unite Data from Disparate Sources
Traditional TMS lack the ability to fetch data from different sources like ERPs, WMS and 3PL systems. This causes significant visibility issues with regards to logistics operations and results in inaccurate benchmarking of KPIs.
According to the Transportation Planning and Execution Benchmark Study, 61
Advanced transportation management solution has the capability to pull data from multiple sources and modes of information onto a single platform showing the right information to the right stakeholders. This helps businesses in making time-sensitive data-backed decisions and drastically boost operational visibility.
4) Geofence Factory Perimeters
A significant amount of time is wasted at warehouses just loading and unloading trucks. Advanced transportation software can easily address this challenge by using geofencing capabilities. Supply chain and logistics stakeholders can get alerts in real-time once a truck enters and leaves a factory. Such software can reduce waiting time by 50
5) Digital Control Tower
Knowing where your shipments are at any given point of time can significantly boost your delivery operations and reduce logistics expenses. A logistics solution that is powered by digital control towers leverages real-time data from the largest GPS, ELD and telematics network to keep a check on current statuses of all your loads moving on the ground. Also, it empowers businesses to get easy alerts for exceptions and escalate tickets in real-time.
Leveraging these potatoes and capabilities businesses can not only boost their competitive edge but also stay relevant in the rapidly evolving face of customer demands.
Route efficiency reduces fuel costs, improves driver productivity, minimizes risks, cuts delays, boosts customer experience and makes every delivery profitable.
A route planning software powered by technologies like machine learning, IoT, analytics, etc. can help any business, across verticals reduces operational costs, scales delivery operations, shrinks carbon footprint and do much more.
Third-party logistics (3PLs) has evolved significantly in the past few decades and they are no longer limited to transportation and warehousing. It now encompasses outsourcing everything, right from supply chain management to offering managerial and technological support to budding companies.