American Supply Chain & Logistics Summit: Save Millions in Freight
This will be our 5th year attending the American Supply Chain & Logistics Summit. We’ve found the summit to be very informative and it allows us to hear what the latest issues are within supply chain and transportation. I always find at least one presentation each year that is educational and these typically tend to be case studies.
A Case Study: How One Company Saved Millions in Freight Payments
At this year’s summit, Steve Horler will be presenting a case study on how Masco focused on FP&A data to get relevant and transparent information quickly for actionable shipping intelligence. The case study fits in with one of the key focuses of the summit, namely Big Data. Steve will describe how we were able to transform a traditionally tactical process, FP&A, into a very strategic one. By changing the focus from how the data has been traditionally used, to pay for freight, to focusing on how the data can be used to support business strategy, we were able to create a solid foundation for a continuous improvement platform that helped Masco save millions within Masco’s supply chain.
The presentation is scheduled for Monday, December 8 at 2:25 p.m. It will run for 30 minutes including five minutes at the end for a Q&A session. If we run out of time for the Q&A, we’ll be available during the rest of the summit to answer any questions anyone may have.
Big Data Requires More than More People
Another important focus at this year’s summit is Performance Management- Should you forget about Big Data? Almost everyone I talk to thinks that Big Data is literally having a large amount of data. There are two definitions of Big Data, the common definition is having a large amount of data. The second definition, the one that I think applies, is having a collection of data so large and complex that it becomes difficult to process using traditional data processing applications.
Within the distribution and logistics industry the traditional data processing applications are either Excel, or a person. I talk to large companies that tell me they have solved this problem with their solution being to hire 20 or more people to enter the missing data points on their freight invoice (enrich the data). Then having a person run their ‘model’ once a month using a complex Excel program to gauge their performance. When asked why they don’t run the model more often, they say that it takes too long.
To become more efficient, companies have to use an integrated platform that is designed for Big Data and that’s what we’ve created and why we’re able to automate the enriching of the data, and provide a real-time model that shows the performance of their strategies. The distribution and logistics industry is very traditional and it’s very hard to move away from the accepted manual processes.
Can’t Make It to This Year’s Summit?
There will be several VPs, Directors, and Heads of Supply Chain, and Logistics from several large multi-national organizations attending this year. Nate Endicott, RateLinx VP of Strategic Accounts and I are looking forward to attending several sessions and meeting with everyone. If you can’t make it to the summit and would like to know more about the FP&A case study, please email me with any of your questions. You can also subscribe to our blog below to stay updated about future events.