The supply chain crisis continues to wreak havoc on shippers, but there is a simple solution that can put you in a winning position as we enter the new year.
The answer is to get the most out of your Transportation Management System (TMS) data—a concept we explore in-depth with our friends at IndustryNet in a recent article: Using Your Transportation Management System Data to Make Better Manufacturing Decisions.
We first came across IndustryNet while taking part in the weekly #USAMfgHour Twitter chat (created by Ruby and Dan Bigger), where manufacturers across the country come together in an online community to interact, share ideas, and answer industry-specific questions.
Our article highlights three main categories we've found common pain points for our manufacturing and general shipping customers and uncovers how TMS data can put these problems in the rearview mirror.
Recapping from the article, shippers who use their TMS data effectively improve:
1) Resource Efficiency
- If you don’t know when raw materials and supplies are coming in, you can’t make good decisions about meeting commitments with your customers.
- Capacity planning begins with accurately forecasting demand to order and receive the products or materials you need.
2) Vendor Evaluations
- If you have to rush materials due to poor planning or supply chain congestion, the increased costs for shipping can significantly eat into your profit margins.
- A good TMS should also give you reporting on total landed costs, so you have insight into what suppliers are costing you in terms of goods, products, and shipping.
3) Visibility on Inbound and Outbound Products
- Real-time data allows you to pinpoint exactly where your products are, so you can forecast and plan more accurately.
- Historical data gives you the ability to look back and find out how you can do better next time around (see Prescriptive Analytics)
Check out the full article here and find out how you can start leveraging your TMS data to make better manufacturing decisions today!
