Analytics in Shipping
Importance of Analytics and Freight Management
In order to have proper freight management, you need to be partnered with someone that provides accurate and relevant data. Data should be available on a monthly, quarterly, weekly, or even daily basis. It is ultimately up to the shipper to know what they need.
A good 3PL will work with the shipper and ensure that they are informed. The 3PL should be providing enough information to allow everyone to be successful. As a result, the shipper can make more proactive decisions and resolve issues before they even occur.
Freight management is complex and requires many systems to be in place. Because of this, it is important to partner with a company that knows which logistics data to pull and how to present it in a way that allows the shipper to act on it. The 3PL also needs to have the technology in place to allow them to even pull this data. As a shipper, you need to be asking what kind of reports are available and make sure they line up with the information that you need.
With all the required data, a shipper can bring their freight management to the next level and really improve their operations.
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Impacts of Great Analytics
You can make informed decisions based off of your KPIs that will improve your shipping. You will no longer be reacting to the cause of some effect.
You are able to see where your money is going, how often you’re spending, and when you’re spending the most. With real-time analytics, you can see exactly where you are able to save.
With analytics, you can streamline operations, which include route optimization, predictive analytics, and better order processes.