In the modern era of shipping technology, having a resilient supply chain is a must. Without it, you cannot expect your clients to have long-term satisfaction with your service, especially if they can find your competitors. Unfortunately, having resilient supply chains is rarely an easy endeavor. But, with modern technologies and their proper use, it can be far easier than it was. So, let’s go over the importance of data for resilient supply chains and how to make the most out of gathering it.
Knowing the importance of data for supply chains
The primary way in which modern supply chains become and stay resilient is through data. Of course, the quality of your vehicles, the skill of your logistics team, and the experience of your transportation personnel will play a significant role. But, none of this can be as efficient as it should be without necessary data.
The Latin proverb “Scientia potentia est,” meaning “knowledge is power,” is more accurate here than anywhere else. With proper data, you will be able to evaluate, predict and solve many problems. And it is precisely this ability to solve problems that will make your supply chain resilient. With that in mind, let’s take a look at how to use data to make your supply chains more resilient.
Supply Chain resilience through data
By using data to improve your supply chains, we don’t mean going over books or complicated files and trying to decipher how to run your supply chain. Instead, we suggest using modern technology to track and collect data like:
- Previous journeys
- Delivery procedures
- Delivery requirements
- Customer demands
- Weather predictions
- Vehicle requirements
This data is then fed into smart algorithms that should give you predictions that no single person could come up with in a reasonable time frame.
The amount of data modern systems can collect and decipher is astounding.
By knowing how to collect and use this data, you will, in a way, have the world’s fastest, smartest, and most informed advisor. So, while it may seem expensive to incorporate modern data technology, know that doing so is a must for the future of any serious shipping company. And you might as well stay ahead of the curve while you are at it.
The benefits of Building supply chain resilience beyond Covid-19
The first benefit of having comprehensive data regarding your supply chain is that you will be able to make better forecasts. Will you be able to see the future? Of course not. But, once you have the necessary data from previous journeys and useful predictions about traffic, you will be able to have much better forecasts of your supply routes. With enough customer data, you will even be able to predict customer demands and orient your resources properly.
Of course, no amount of data can make your supply chain full proof. Unforeseen circumstances do happen, and it will be up to your logistics and transporting staff to handle them. But, you shouldn’t neglect the number of problems that useful data can prevent and how resilient it can make your supply chain.
Efficiency solutions from data analytics
A resilient supply chain is an efficient supply chain. These two go hand in hand to such a high degree that they are practically inseparable. With proper data, you will not only ensure that no problems occur, but you will also notice issues that you haven’t even realized before. More often than not, supply chains waste valuable resources due to pure inefficiency. This shouldn’t come as much of a surprise, and being efficient requires insight, determination, and ingenuity. Luckily, with the right data, you will have a much easier time understanding your supply chain’s weakest link. By doing so, you will save considerable resources, which then free you up to make your supply chain even more resilient.
Supply chains can easily become quite complicated, especially in international routes. Different modes of transport, various local transportation services, different storage and transport companies, etc. All of them need to work together for a supply chain to function correctly and for your clients to get their orders on time. The key to all of this is communication. With proper communication, all the people involved in your supply chain will be able to make adjustments when needed to keep it resilient. Without it, the whole chain can quickly fall apart. So, never underestimate the importance of communication.
Having the right information at the right time can make a world of difference.
Luckily, this is another aspect of supply chains where having and using data is essential. A good system will not only notify you on time but give you recommendations on what to do. You can easily pass on this information to whoever needs it most and ensure that your supply chain stays resilient.
Making the most out of your data
Gathering and using all this data will come at a cost. While you shouldn’t neglect the importance of data for resilient supply chains, is it worth the thousands you will have to spend on equipment, training, and restructuring? Well, keep in mind that the data you collect can be used in different ways.
Building supplier relationships
A quick look at verifiedmovers.com will tell you that moving and shipping companies are on the rise, and the freight industry offers even more options. It doesn’t take much foresight to predict that competition will be fierce. Even now, you need to be able to not only acquire but also retain clients if your company is to make a profit. So, your goal should be to maintain a good relationship with your clients and suppliers. With the data you gather, you can predict your client’s needs and ensure that there are no surprises while working with you. This is something that few companies can guarantee, which is why having this data is so valuable.
Once you start building long-lasting professional relationships, you will understand the importance of data for resilient supply chains.
Improving your marketing efforts
Proper marketing for a shipping company usually involves understanding your client’s needs and expectations. After all, how are you supposed to present your company if you don’t know what the customer wants? By acquiring the necessary data, you will have keen insight into what customers will need and expect. When used properly, this can make your marketing efforts much more efficient.
Trust your supply chain to The ILS Company. We know the importance of data for supply chains