supply chain management

  • Big data has heralded a new era where today’s leading organisations are basing their decisions, not on guesswork, but concrete information. Data-driven supply chain management and automated analytics have become imperative to staying relevant amid our fast-moving times.  From the point your goods are manufactured to the point they are delivered to your consignee, your supply chain generates massive amounts of data. The real challenge is to build the capacity to gather this valuable business intelligence and process this data to help you leverage insights gained.  Advanced algorithms now allow us to simplify this process and convert our data into actionable insights. The key is to leverage these tools and combine them with a thorough understanding of your business requirements.  Here are some examples of how data-driven supply chain management via the adoption of digital solutions that can help you optimise your business and reduce your freight spend.  Choosing the right shipping lane and carrier  By deploying a digital solution with real-time visibility on the movement of your goods, data is recorded throughout its journey. From the time the shipment leaves the port of loading until it reaches the port of destination, systems can capture its movement along every step of the journey.  Through an analysis of this data, you can know exactly which carriers have been offering you the best service with minimum delays and which routes help you save costs. With these insights, you can help to minimise future delays and overspend. Easy assessment of vendor performance  Advanced data processing now makes it easier to assess vendor performance. For example, your system can collect multiple data points in the negotiation process such as the rates offered by different vendors and the number of negotiations that happen for each shipment, or whether contracted service level agreements are being met...
  • The global pandemic has highlighted the value that Logistics Resource Management (LRM) platforms provide to export-import oriented companies. For organisations considering LRMs for the first time or an upgrade of their current solutions, should they invest in building a customised, in-house platform or buy a ready-to-go, off-the-shelf software? Here are some of the factors to consider to help you make the decision that’s right for you.  An ideal way to start is by outlining the key requirements of your company and the corresponding features you will need to meet those requirements. Consider making a list of features that you may or may not need or would be good to have.  With your requirements defined, next consider your implementation timeline, budget and other resources available to you.  To build, or not to build, that is the question… Ok, your IT team have confirmed that they could build a system, but should you? Your organisation may lean towards building an in-house system and may have all the resources it takes to build one but is it worth your time and money? Unless localised solutions are at the core of your business, building your solution might just translate to a waste of invaluable resources.  On the other hand, a pre-built solution that can be customised to meet your needs can help you instantly leverage your resources while staying within your budget.  What’s more scalable? Quickly scaling up your customised solution to meet each need that arises with time may not be always viable. Quite often, companies are very specific about their needs and customise their solution accordingly. Unfortunately, this can become a barrier that limits the flexibility of the system especially when additional functionality is required, such as during the times of crisis.  Even when it comes to investing in a pre-built solution,...