The cloud is constantly making headlines for its ability to allow consumers to store information, and it makes headlines across industries from commodities to technology. However, there is arguably no other industry that has seen the prolific effects of the cloud more than logistics. The power of real-time analytics, integrated communication, and increased data has allowed logistics management to progress in such a way that no other advancement was able to do. This is exactly why we will take a moment and tell you exactly how you are able to benefit from the cloud for your logistics management.
What is more, Blockchain is becoming a significant element in the future direction of logistics. According to BlockchainDriven.com consultants, data and blockchain will be the next frontier of logistic development. With immutable, second to second tracking, it can be the future of logistics.
Speed and trading will increase according to inbound logistics.
Anyone doing business in a global environment knows that a lot of friction in trade activities is directly related to finance: regulatory and compliance speed bumps, fraud, letters of credit, manual and fax-based documentation. In trade finance, the sheer number of borders, intermediaries, regulatory authoritiesand lack of technologycan sometimes stall your product, no matter what else you’ve done right. Sometimes it ain’t easy moving green.
Enter disruptive Bitcoin technology, which recently made a small experimental debut in global supply chain management.
Increased office resource flexibility
Not only do you have data available in real-time thanks to cloud-integrated logistics, but you make it accessible to everyone within your team, regardless of what time of the day it is or where on the planet they are at the moment. You can only imagine the increase in continual oversight thanks to universal accessibility. Now it is possible for logistics managers to be in remote locations and still observe processes in real-time. If a response is needed, they are able to provide immediate resource deployment.
Merge into the transit model in a more accurate manner
If you have a number of components from several suppliers and if you are trying to coordinate a union between them, the most important thing that you can do to safeguard efficiency is synchronizing your processes. In some specific situation, it may be necessary to have your processes synchronized down to the hour. For the first time ever, it is possible to have accurate models of merge-in-transit thanks to logistics solutions that enable real-time monitoring through the cloud. It is possible to forecast and monitor this process through a real-time, online dashboard, despite the fact that it was previously too complex to estimate accurately.
Do away with multiple TMS and WMS systems
When it comes to expediting procurement and shipping, TMS and WMS systems are instrumental. However, if you have multiple users and multiple systems, it can lead to a huge number of different transportation options. Options are great, but you only have a handful of options that represent the true lowest cost. The fact that you coordinate information with a specific solution through the cloud means that you can prevent any missed savings that might come from obfuscated data or delays that might be caused by miscommunication.
The most direct means of optimizing costs and controlling risks is the inventory you have on hand. This is your shield, how much flexibility are you willing to give up for greater protection? You can optimize your ability to respond to demand fluctuations through real-time inventory management. At the same time, it allows you to have a buffer against emergencies. You have substantially more control over your inventory levels thanks to the data flow from the cloud.
If you want to be able to control your costs with finesse, you need to be able to understand the price associated with every logistics element of your supply chain. The pricing elements within warehousing and transportation can fluctuate based on any number of different factors, including demand, market conditions, and weather. Because there is so much volatility within your pricing, you can make or break your margin thanks to on-the-fly adjustments.
Still a challenge – but with added benefits
Make no mistake about it, logistics management and logistics optimization remain stunningly complex tasks, but it has become far more efficient and user friendly thanks to the cloud. Managers now have more flexibility than ever before and are able to exercise extreme control over critical processes, thanks to the ability to have data delivered in real-time.
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