Impact of BI on the Logistics Industry
Digital revolution is on and the modern logistics and transport industry is embracing and experiencing the change to sustain in the market, gain profitability and to give a fit competition to the competitors. The pressure is huge and the companies that are capable of delivering a consistent brand and balancing are able to win customers.
The existing challenges are increasing such as volatile fuel costs, change in consumer demand, compliance complexities have encouraged the customer to shift to digitalise solutions that can help meet such challenges. In addition, the growing labour cost, the volatile market has forced the logistics industry to accept Business Intelligence Solutions as a game change for an effective business and growth strategy.
Benefits of BI (Business Intelligence)
Automated reports reduces labour costs
With automated reports, the human efforts spent on mundane tasks like importing multiple reports and its modification can be stopped as the automated reports can generate a comprehensive and customised reports on daily, weekly, fortnightly, and monthly basis as the need may be without the need to work on excel or any other reporting tools. With BI, you can:
- Automate data collection
- Generate reports in minimum time
- Less human intervention
Transparent and accurate information
Business Intelligence ensures that the user gets complete transparency and accurate data for crafting stats and dashboards. It reduces dependencies on other teams like IT and allows you to analyze data and generate efficient reports as per the requirement.
Convert data into actionable item
BI is a powerful tool to extract reports from the raw data available. It provides insightful and purposeful data that can help businesses to make right decisions. The business analytics & reporting helps make data-driven decisions constructed on trusted data represented in the form of graphs or charts. A large amount of data is drilled-down to add substantial value to the organization by improving forecasting, driving innovation and reacting better to customer needs.
Sound decision making
With BI, the reports are real quick and based on real-time information. It accelerates the decision making process by presenting the data in graphs and charts on a centralized dashboard.
Improve fuel efficiency
Fuel efficiency plays an important role in the logistics business. The tools in BI help in optimizing routes for transporting consignments from warehouse to the delivery destination. Even the sensor enabled vehicles provide real-time monitoring of the complete supply chain.
It’s important that the right BI solution is chosen for the business that will enable you to optimize your business operations. 20Cube Logistics is looking to implement BI in its smart application MyHubPlus to maximize its customer’s efficiency and agility in all respects.