COVID-19 has changed everything, from the way that we live to the way that we are doing business. We are all facing disruption of some kind, and the supply chain industry is no exception. With all of the supply chain disruptions brought forth by the pandemic, it’s going to be a long road to recovery for shipping, supply chain, and logistics professionals. For companies experiencing setbacks due to any operational restrictions, digitalization could be the best way to pave a path to recovery.
Strong Data Foundation
The first step in establishing a digitalization strategy is to establish a strong data foundation within your company. You need to understand what data your company currently has, what the data means, how it can be categorized, and how that data can help your company move forward. Without a basic understanding of the data that your company has and what it can do for you, it will be very difficult to have any sort of successful digitalization efforts.
Predictive and prescriptive analytics are the perfect tools for optimizing your shipping and freight forwarding processes. With advanced analytics at their disposal, shippers can track and predict what is likely to occur in the coming weeks and months. Implementing analytics can take current events and public and internal data to forecast scenarios of what could happen in the future. These tools equip and empower shippers to make informed decisions based on these scenarios.
Even with a foundation of data and the proper analytics tools at your disposal, they won’t provide the optimum results that you need without a full cloud integration. As supply chains continue to move their processes to the cloud, it allows businesses to continue operations with a major disruption. Cloud-based technology isn’t restricted or dependent on geographical locations or specific people, allowing a widely distributed network that provides the perfect scenario for remote working conditions.