In a logistics ecosystem characterized by increasing complexities and challenges, real-time reporting is increasingly becoming non-negotiable to shippers and operators alike. While process reporting is not new, ensuring reporting is done in real time is now seen as the first step to gaining ‘real’ control over logistics processes.
Before the pandemic, shippers largely managed logistics operations with minimal technology and were not too bothered by visibility into their supply chain processes. However, the pandemic exposed the vulnerability of such practices, highlighting processes that were at risk of disruption.
While we now live in a post-pandemic world, the risk of disruptions has not dimmed. That is particularly because of the current economic conditions, shipping crisis, and state of the freight market. Yet the average supply chain is still under-digitized by 45%. It is no wonder that the threat of disruptions, which can be devastating, largely remains.
Given the current challenges and potential disruptions, technology solutions like real-time reporting are critical for shippers to survive and thrive in the logistics industry.
Today, more shippers are forced to make operational decisions under increasingly uncomfortable situations. Decision-making can be assured only through data visibility, as it enhances the shipper’s ability to make informed decisions. In this article, we will explore the concept of real-time reporting and how more businesses can leverage it to optimize operations.
To start with, it is important to accept the fact that traditional logistics reporting did some good for the industry. Businesses would not have leveraged and continue to leverage it if it did not. However, considering the logistics landscape has changed, it traditional (and delayed) reporting is dangerously under-equipped to support modern-day operations. Here are some of the reasons why:
Using traditional logistics reporting slowed down processes, especially during transitions, and overly exposed them to errors. For instance, transferring shipments between the shipping and drayage process will take too long because stakeholders do not have the information to accurately anticipate shipments and prepare to receive them on time.
Businesses were left reacting to situations, and sometimes, these situations got the better of them. For example, without real-time reporting to aid in route optimization before and during the drayage process, trucks would get into congested roads and be stuck there for hours when there were alternative routes that the business was blind to. Naturally, these led to delays and, in some cases, slight disruptions that could ripple across the supply chain.
Shipments were transported with little control, so situations like vehicle breakdowns or, in reefer cases, loss of temperature controls were noticed later rather than immediately, making it impossible to get around the problem on time.
Today, it is easy to track and manage shipments remotely -- sometimes, from the comfort of a system small enough to walk around with. However, with traditional logistics reporting, shippers had to deploy large amounts of human and financial resources just to be able to track shipments, and these reports still needed to catch up.
Real-time reporting leverages various technology solutions to share real-time data regarding logistics operations and processes between stakeholders.
Through real-time reporting, businesses and all stakeholders involved in the process have unparalleled transparency, which allows them to seamlessly collaborate and make contributions that ultimately ensure the optimization of the entire process. The transformation from manual to digital reporting became necessary during the pandemic and the consequent complexities that have plagued the freight industry since then. Both situations exposed the vulnerabilities in supply chains.
Ultimately, it was clear that there was a critical need for enhanced agility and responsiveness. With real-time reporting, these businesses are constantly leveraging access to real-time data to effortlessly manipulate the logistics process in real time. This way, their supply chains are much more resilient and able to navigate challenges effortlessly.
A connected supply chain is a collection of systems, stakeholders, and processes that seamlessly share information and leverage that information to collaborate in real time.
The idea is to enhance the efficiency and responsiveness of the entire operation. However, the connected supply chain leverages technology solutions such as data analytics and automated communication to do that successfully. In addition, the connected supply chain also allows for a unique combination of complete transparency and synchronization of all aspects of the supply chain operation.
Here are some reasons why businesses are demanding it:
The connected supply chain provides real-time visibility into all aspects of the operation by integrating data from various sources and applications, such as transportation management systems (TMS) and warehouse management systems (WMS). This way there is readily avaliable information on inventory levels, shipment locations, and potential disruptions.
By facilitating information sharing, joint activity coordination, and problem-solving, the connected supply chain provides a platform for all stakeholders to collaborate and communicate seamlessly. Ultimately, the supply chain is more resilient and adaptable.
By eliminating data silos and promoting real-time data exchange between processes and stakeholders, the connected supply chain allows businesses to ensure data accuracy and timeliness, which also leads to a dynamic and responsive information ecosystem for better decision-making and collaboration.
Today’s logistics operations are complex and interconnected, making it challenging for businesses and supply chains to achieve end-to-end visibility and make informed decisions.
However, that doesn't have to be the case with technology solutions. These tech solutions can help businesses significantly improve transparency and streamline operations, especially where drayage is concerned. But the question is how. Here are some tactics these tech solutions leverage to improve the visibility and decision-making ability of the supply chain, particularly focusing on drayage solutions
Real-time tracking has quickly become a primary tool in any logistics operation.
The solution has enabled businesses to effectively monitor their shipments throughout the logistics (drayage) process, from picking up the shipments at the port to delivery at the final destination. Tech solutions like telematics, GPS tracking systems, and geofencing make this possible. With real-time visibility, these businesses and their supply chains can proactively address potential delays, optimize routes, and keep customers informed.
Real-time data is great, but ultimately, it is only one side of the coin.
That is why predictive analytics is vital. It leverages historical data and machine learning algorithms to forecast potential delays and disruptions in drayage operations and all other logistics processes. A typical example is using AI-driven predictive models to forecast increased congestion at ports, prompting a drayage partner to reroute shipments or schedule pickups at off-peak hours to avoid delays.
Automated notifications are proactive, which is crucial for businesses when trying to prevent unnecessary fees and shipping charges.
Through automated communication, the supply chain can proactively inform stakeholders, including customers, about shipment status, delivery delays, or any changes in the schedule. This empowers or enables these stakeholders to take timely action. Several systems, including automated dispatch systems and chatbots, facilitate automated updates and alerts.
Integrating TMS and YMS provides end-to-end visibility and control over the entire drayage process, from shipment creation to final delivery.
Key Features include:
Through electronic documentation, businesses can significantly speed up administrative tasks, reduce errors, and facilitate smoother transitions between different processes of the supply chain operation. By replacing paper-based processes with digital solutions, they can:
Digital solutions like EDI (Electronic Data Interchange) systems allow supply chains to enhance the seamless exchange of standardized shipping documents between stakeholders.
With digital platforms, supply chains can foster collaboration among stakeholders involved in the drayage process, including shippers, carriers, freight forwarders, and port operators.
For these stakeholders, it allows them:
Demurrage and detention fees can significantly impact shipping costs and, in some cases, have ripple effects across the entire logistics operations.
Through effective drayage solutions, businesses and supply chains can optimize container usage and minimize dwell times, realizing substantial savings directly impacting their bottom line. Golden State Logistics leverages a host of tech stacks to automate processes, optimize tracking, and enable data-driven decision-making for customers. This way, we are in an excellent position to help streamline the drayage process, minimize errors, and reduce the need for manual intervention, leading to cost savings and increased efficiency. Connect with us to see how we can move your freight better.
In a logistics world characterized by increasing complexities and challenges, real-time reporting has emerged as the solution, allowing businesses to regain control of logistics processes, including shipping and drayage.
Technology solutions like real-time tracking, dashboards, and advanced communication tools have empowered supply chain stakeholders to streamline communication with their customers and build better rapport.
