To keep your supply chain running smoothly, it’s essential to have visibility and control over your supply chain operations. By having access to real-time data on your operations, automating repetitive tasks and gaining insights through big data analytics, you can build a flexible and robust supply chain network.
It is here that a competent logistics management system steps in. Besides virtually streamlining and automating your various supply chain functions, the system helps you bring down costs significantly and allows your team to focus on more meaningful work.
Here’s a list of some ways in which a logistics software helps your business:
- It allows you to secure the best possible freight rates.
- You can monitor the status of all your shipments on a single dashboard.
- It enables you to manage both inbound and outbound logistics shipping schedules.
- It helps you make informed and data-driven decisions based on predictive analytics, which help drive down costs.
Logistics management software does all of this and more. However, finding a top performing software that suits your business perfectly requires a bit of research.
Let’s look at what logistics management software is, what kind of system will suit your business, and the critical factors you must consider before choosing a system.
What is Logistics Management Software?
Logistics management software is a tool that enables you to streamline your logistics operations and gain visibility over multiple supply chain functions all at the same time.
The system helps you drive process efficiency and significant cost savings by leveraging intelligent, technological solutions.
A competent logistics management software helps you virtually manage the following aspects of your business:
- Production cycle planning
- Capturing information related to supply chain
- Inventory management
- Warehouse management
- Product packaging and labelling
- Scheduling shipments
- Getting quotations for shipments
- Tracking shipments till they reach its destination
- Freight invoicing and much more.
By optimising all the processes, the software adds value to your business and drives efficiency while saving time, efforts and money.
The system eliminates the need for tedious paperwork and countless spreadsheets and replaces it with solutions that facilitate smarter, quicker work.
What are the different types of logistics software and which one does your company need?
Logistics management software can be primarily classified into the following three categories:
Enterprise Resource Planning
An Enterprise Resource Planning (ERP) system makes it possible to automate a wide range of back-office functions such as maintaining records, capturing data, clearances, regulatory compliance, accounting, other IT services, etc.
Warehouse Management System
With a Warehouse Management System, you can gain overall visibility over your warehouse operations, administer various processes and plan the movement of goods right from when they enter your warehouse till the time they move out. You can optimise warehouse space with the help of this software.
Integrated SCM Suites
These kind of integrated SCM suites programs are more elaborate and comprehensively transform your supply chain management. They make it possible to automate various processes such as RFQ management, shipment tracking and invoice reconciliation.
Now that we have seen what a logistics management software is and its types let’s take a look at some of the key functionalities, you must look for in a logistics management software. Remember, the system is only as good as its capacity to effectively tackle your supply chain’s pain points.
Key factors to consider while buying a Logistics Management Software
Seamless freight management
A competent logistics software should allow you to manage all your transportation costs efficiently. It should enable you to save costs while simultaneously equipping you to maintain your service quality and ensure customer satisfaction.
The system should offer you insights that help you deal with various freight-related challenges seamlessly and successfully.
Quicker, efficient delivery of goods
Your new software should enable you to plan well to the extent that it should eliminate the scope for missed deadlines due to poor planning. It should also help you assure package security and make timely deliveries of goods to the right destination in the right condition.
The system should facilitate a smooth flow of goods from your facility to your customers’ facility without incurring additional costs.
Excellent integration with existing systems
When you consider a new system, don’t forget that you already have some systems in place to take care of various processes. Seamless system integration is vital to ensuring the smooth functioning of all your business operations.
Your new system must work in sync with your existing systems. Otherwise, the logistics management system may end up becoming a hindrance to your operations instead of facilitating process efficiency.
Do your research well, opt for trial plans and consider software with a modular design. That way, you can select only for the functions that your business needs and the decision will be more financially viable as well.
Wide range of billing options
While selecting a logistics management software, explore the billing options available on that software. Check if it allows you to bill on a weekly, monthly or yearly basis. A system that offers maximum flexibility on this front will be the best one to consider.
Besides, the system should be designed to capture and process data accurately in order to make sure of all information.
Ability to share data with customers
A system that allows you to share specific dashboards with your customers can help you make way for increased deal transparency and enhance the customer experience. For instance, some logistics management software allow you to share real-time tracking of shipments dashboard with your customer for their specific order. This helps your customer stay up to date with the movement of their goods. It also ensures unprecedented visibility on the location of goods for both the parties.
Monitoring costs and invoice processing
Make it a point to consider only those system that have costing and invoicing features. An intelligent system will automate invoice reconciliation for you and make seamless auditing possible via the ability to timestamp and leave comments on each invoice.
Automating the invoice matching process would mean that the system will highlight any inconsistencies between your invoice and the original quotation and highlight any eros directly to your vendor. You can then consider the invoice after your vendor has fixed the error.
Cost-effective supply chain management with GoComet
If you are looking to build an agile and cost-effective supply chain management and would like to know more about how GoComet’s supply chain management suite of solutions can help you achieve your goal, feel free to get in touch with us here.