Tag: Inbound and outbound transportation management
Table of Contents
- What is Logistics Management Software?
- Key Features of Logistics Management Software
- Business Benefits of Using Logistics Software
- How To Overcome Logistics Challenges with Logistics Software
- Major Tech Trends that Reshape Logistics Management
- Choosing the Right Logistics Management Software
- Business Use Cases of Logistics Management Software
What is Logistics Management Software?
- Processing customer requests
- Processing purchase orders
- Inventory Management
- Suppliers Management
- Sales and Distribution
Key Features of Logistics Management Software
Business Benefits of Using Logistics Software
- Optimization and cost reduction of the supply chain from 9% to 4% can double profits.
- 70% believe that logistics management software is a key driver for quality customer service.
- Good logistics management software can provide 24x7 customer support.
- Smart and intelligent route planning can ensure a good fulfillment rate and customer satisfaction.
Refine Transportation
Transportation is a crucial and vital area in logistics management. It incurs the most fuel, labor, energy, and shipping charges. Using logistics software helps to simplify and reduce the cost incurred in transportation considerably. Logistics management software makes it easy to analyze data and make relevant decisions for lowering costs and maximizing efficiency.
Faster Delivery
The logistics and supply chain industry are prone to face several issues affecting delivery and delays. By incorporating logistics software, businesses can rapidly deliver their products to customers. Logistics management software significantly improves delivery time by speeding up the production cycle and choosing a suitable carrier. It ultimately reduces shipping delays to a great extent.
Minimize Human Errors
Another notable advantage of implementing logistics management software is minimizing human errors. Manually analyzing large quantities of data is tedious and time-consuming, which leads to flaws. Logistics software simplifies work by quickly processing these data and seamlessly pushing forward the operations with minimal delays.
Automate Functions
Process Automation is a tremendous boon of logistics software integration. Logistics software easily automates certain functions like creating shipment routes, load planning, and tendering of loads to carriers. Moreover, it eliminates paperwork, which helps deal with the processes efficiently and timely.
Reduce Costs
Logistics software can automatically compare different shipping services, delivery agents, and transportation methods to find the least-pricing ones. The other way logistics software reduces costs is by lowering the expedited shipments through improved shipment planning.
Customer Support
Logistics software provides good customer support service tools for all assistance. It provides a platform to centralize all customer support needs. Chatbots, automated alerts, notifications, and virtual assistants improve customer service speed and quality.
How To Overcome Logistics Challenges with Logistics Software
1 Rising transportation costs
2 Delay in delivery
3 Lack Effective Coordination
4 Meeting the demand surge
5 Warehouse management errors
Future trends that Reshape Logistics Management
Choosing the Right Logistics Management Software
Common Business Applications of Logistics Management Software
Use Case # 1 Quick Response to logistics RFQs
Logistic operators must respond quickly to client requests and schedule and process orders. Implementing bots helps respond to RFQs on time and speed up the quotation process with less human intervention. Bots can help provide timely quotations and improve the chances of winning the RFQ. Bots can also support increasing sales because of their 24/7 availability and faster response rate.
Use Case # 2 Identifying invoice discrepancies
On many occasions, the invoices have price differences with the order or quantity differences between the receipt of the goods. Such scenarios in the logistics industry can be avoided using artificial intelligence (AI) or machine learning (ML) techniques. AI uses Natural Language Processing (NLP) tools to extract essential data from invoices to identify budget discrepancies.
Use Case # 3 Displaying route information on drivers’ windscreen
Logistic companies use AR/VR to transport goods, ensuring the delivery of goods is safe, on time, and effective. A driver traveling with the load would find it easy and convenient to find essential information about traffic jams and alternative routes displayed on the vehicle's windscreen. Or the relevant information can also be shown on a smart glass that can be worn by the driver while driving. Such innovative methods help to save time rather than checking information on a separate gadget.
Use Case # 4 Cargo collection and movement
Warehouse automation can automate the movement of goods to and from warehouses with minimal human assistance. Businesses can eliminate repetitive physical work, labor-intensive duties, and manual data entry and analysis. Warehouses can employ robots for tasks like cross-dock transportation and moving cargo from the warehouse to the shipping zone, and automated software can record the movement of that inventory. This helps save upfront costs, from improving operations to minimizing human error.
Use Case # 5 Delivering Better Customer Service
Logistic companies must always be prepared to meet customer needs appropriately. Automated customer service or tools like chatbots and virtual assistants can answer customer queries regarding delivery status, consignment location, and delivery time. The logistic system must be automated, bridging gaps between disparate IT systems with quick access to information to provide quality customer service. This helps customer service agents become more productive and fulfill better customer experiences.
Use Case # 6 Demand forecasting
Demand forecasting is key to success and growth, which helps identify potential scope for expansions and potential threats. The AI-powered predictive analytics feature in logistic management software supports demand forecasting, which enables companies to predict demand, supply, and pricing within an industry. This feature combines historical data from various sources and helps improve demand forecasting accuracy. It will help companies to stock up sufficient quantities to meet customer demands without having a surplus. Moreover, it helps to organize cash flow better and plan the workforce to boost business efficiency.
Use Case # 7 Better control of inventory
An ERP system provides a centralized system to manage the inventory from all corners, with the ability to gather and bring information from different sources into one location, including current requests, inbound and outbound sales, stocks, or delivery status. It helps to streamline various operations and provides an overall picture of the entire logistics system- it tracks the live status of the goods, customer details, customer trends, transportation processes, and more.
Challenges Faced By Companies Implementing Logistics Software
50% of US importers still use spreadsheets to manage their complex international supply chain.
- Lack of awareness and knowledge of digital culture and training
- Slow expansion of basic infrastructure technologies like CRM, auto-reporting, etc.
- No clear vision about digitizing the logistic operations
- Lack of IT competencies to provide adequate training
- Data security and privacy issues
- Unclear economic benefits of digital investments
How Custom Logistics Management Software Can Benefit Your Supply Chain
Why choose custom logistic software?
- They provide all the benefits of ready-made logistics management software and features not provided by ready-made logistics software.
- They provide a more personalized approach to the logistics issues faced by your business.
- They are highly adaptable and sustainable to suit your business landscape.
- They are scalable to meet your changing and future requirements.
- They are tailored only for your business needs and can easily integrate with your existing systems.
Fingent Builds a Custom Logistic Management Software
- Streamlined and accelerated ordering, tracking, and delivery processes
- Cut licensing and subscription costs by eliminating complex third-party software integrations
- 30% improvement in Turn Around Time (TAT)
- 40% time-saving attained through automated tasks and real-time reporting
Transitioning into Cloud-Based SaaS: The Future of Logistics
Bottom Line
“Vinod has conceptualized and delivered niche mobility products that cater to various domains including logistics, media & non-profits. He leads, mentors & coaches a team of Project Coordinators & Analysts at Fingent.”