TruckStops by CACI Expert View – YOU’RE SITTING ON A DATA GOLDMINE: IT’S TIME TO DIG OUT THE PROFIT

Paul Dawsey, Logistics Solutions Director will deliver his expert view at 8:40am in the Innovation Zone at the Microlise Transport Conference at the Ricoh Arena on 15th May 2019…

YOU’RE SITTING ON A DATA GOLDMINE: IT’S TIME TO DIG OUT THE PROFIT…

Advanced analytics is one of 2019’s key supply chain technology trends which, according to leading research group Gartner, must not be ignored.

To many busy operators battling tough market conditions, political uncertainty and margin pressure, “advanced analytics” sounds expensive, complicated and distracting. But in fact, it’s a game-changing digital innovation with immediate benefits that’s surprisingly accessible to firms of all sizes. And you’re probably already doing similar things elsewhere in your business.

All logistics and supply chain firms record, scrutinise and evaluate financial data. The bare minimum reasons are to stay solvent and to meet tax obligations. But analysing the recorded numbers also help management teams plan resources, activities and growth. With the huge range of historic and current performance figures which are now routinely collected, business leaders can do even more: anticipate customer and market trends, spot and solve problems, find ways to save money and prioritise investment.

Optimise and grow your business using existing data

Similarly, today it’s easy and usual to collect a lot information about supply chain and logistics operations. How many trucks are on the road today? How fully loaded are they? How timely were their arrivals and departures? How many successful deliveries were made? What was the fuel economy? You probably already store a goldmine of facts and figures full of potential business insight.

The power of today’s technology means it’s quick and easy to analyse large amounts of “big data” and even combine it with external information such as traffic and weather conditions. You can extract valuable information about how to make your fleet more efficient, how to plan routes better and where you have room to grow. Similar data for your distribution hubs means you can forecast performance and model how an expanded operation might work, or see how and where you need to cut back or refocus in changing markets.

“Advanced analytics are not new, but their impact on today’s supply chains are significant. They will help organisations become more proactive and actionable in managing their supply chains, both in taking advantage of future opportunities and avoiding potential future disruptions.”
Christian Titze, Research Vice President, Gartner

Dashboards are the key to affordable insight

You’ve got the data, but how do you turn it into actionable info to boost efficiency, and profitability and future decision-making? Your finance team have expert accountants and analysts to do the job – but you probably don’t have those resources yourself.

Analytics dashboards are a shortcut to insight. You don’t need specialist skills to use them and can instantly see performance history and trend for the KPIs and areas you choose at a glance. You can create different dashboards giving relevant info to everyone from customer account managers and transport managers to the CEO. It’s easy to delve deeper into your data and find clear answers to support decision-making and trouble-shooting.

CACI’s affordable Truckstops tool provides a sector-specific dashboard for logistics and transport clients, so you can realise the potential of your existing data to optimise and grow your business.

Come and see a demo on stand CX7.

 

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