Wouldn’t it be nice if we could see what the future of freight and the supply chain will be in 2022? Industry experts predict that we will still see backlogs of shipments, labor shortages, capacity issues, rate increases, and lack of warehouse space at least within the first few months of the year. If only we had a way to determine how to navigate these issues or some type of crystal ball that we could use to help us predict where we will be six months or a year from now, we could more efficiently and effectively plan for the course ahead.
But you do have a crystal ball of sorts… By tapping into the data you have collected from previous shipments, you can accurately determine the right path for navigating disruptions in the supply chain.
Technology: Your 'Crystal Ball' for Managing Supply Chain Issues
Technology can be your solution for making predictions about the supply chain or at least how your company should react to fluctuations in shipping. The data points your transportation management system (TMS) collects and stores from previous shipments contains all of the critical data you need. That data can be analyzed to help you make better business decisions for your company. Also, choosing a technology partner that is consistently enhancing its TMS to support your needs as the industry evolves will make it easier for you to tackle disruptions in the supply chain.
With the right software and support from a trusted technology partner, you can build more sustainable solutions so your network succeeds regardless of market conditions. This includes leveraging technology to choose the right carrier, rate, and service combination. It also enables visibility and problem resolution that incorporates mitigation strategies to prevent system bottlenecks. An innovative, integrated technology solution with data to streamline key decision points within the supply chain facilitates data-driven analysis and decision making.
Having access to data about every aspect of the shipping process all in one place will give you increased knowledge to better make freight management decisions in the future. The data you gain from using an innovative technology solution can help you evaluate carrier or lane performance, freight rates, delivery status and more.
With the unpredictability of shipping right now, we all can certainly use some magic to guide us along the supply chain. The right technology solution will help you successfully navigate the challenging shipping market's ebbs and flows.
Did You Know?
Banyan is the top-performing freight pricing platform with nearly three times as many carrier connections as any other provider in the OTR transportation and shipping industry. We recently added the QuickShip™ feature to our LIVE Connect™ platform that will positively impact your bottom line. This new tool was designed as another way to save Shippers and 3PLs time and money by creating efficiencies in your shipping operations.
QuickShip™ streamlines data entry in as few as five points expediting the process you utilize to drive a rate and book a transaction. This new tool also gives Shippers and 3PLs the ability to set inbound and outbound shipping rates through your own contracted carriers -- resulting in significant cost savings. Clients who worked with Banyan during the beta testing of this product experienced a savings of greater than 10% using this tool.
Contact Banyan Technology today to learn more about how Banyan’s LIVE Connect™ platform can help you prepare for challenges within the supply chain.