Implementing technology into your supply chain processes not only simplifies the process of collecting shipping data for all of your imports and exports, but it also drastically reduces your margin for error. Most of the technology is based on what’s happened in the past – service failures, delivery failures, or shipping errors. While this technology is certainly useful, it doesn’t help your business plan for the future. With predictive analytics, your company will have a way to look into the future and make predictions with AI and machine learning.
Prevents Service Failures
Hindsight is always 20/20, but what if you didn’t have to think about what you should have done? By implementing predictive analytics into your transportation management, you can work to prevent service failures before they ever occur. Service failures are costly, often resulting in substantial fines to the customers or a line or even the shutdown of a manufacturing facility. Predictive analytics looks at the data of your past shipment projects and applies that data to algorithms to forecast for future projects. If a shipment is going to be late, your predictive analytics tools will send a notification to your customers to alert them.
Provides Insight on Market and Trending Prices
Because the market is in a constant state of fluctuation, shipping rates are always changing. With predictive analytics, your business will have insight into the current and competitive shipping rates. Implementing a predictive analytics tool gives you a clear picture of what to expect from your shipping project.
Allows Flexibility in Labor
In addition to forecasting your shipping project prices and preventing service failures, predictive analytics can also help your business to forecast the labor planning for all of your freight forwarding needs. Warehouses and distribution centers constantly suffer from poor labor planning processes, unable to keep up with the constant fluctuations in business volume. Most operations are struggling to provide an adequate workforce to meet the needs of their customers. Predictive analytics uses real-time internal and external data to predict business peaks and troughs, giving your team the opportunity to schedule your workforce appropriately.
How Sobel Can Help
Sobel Network Shipping Co., Inc. is an international freight forwarder that is dedicated to providing the best possible service to our customers. Our processes enable our clients to compete in their market on a global scale. By using the best-in-class digital tools and practices, they completely optimize and simplify all of your shipping projects. Contact Sobel today to learn how we can help you with your next shipment.