Actionable Data with No IT’Hot Topic at the Logistics & Supply Chain Forum
While the weather in Miami, Florida, is often described as hot, what was hot last week was RateLinx’s ability to deliver actionable data with no IT. We attended the spring Logistics & Supply Chain Forum, our fifth consecutive Forum. While overall attendance was down a bit, we were able to meet and talk with more than 30 companies about solving their data needs to implement logistics more strategically.
Shift to Strategy
In a previous blog, I mentioned this conference has evolved from focusing on tactics to strategy. This trend continues to build. We noticed many companies are focusing on becoming more strategic with their logistics management which is following a general shift that we are seeing in the market. This shift reflects a greater understanding of how data can be leveraged to drive decisions. For a company to become data-driven (and more strategic) is a journey which takes many years and we’ve been witnessing this for the last couple of years.
To start this journey, we often find companies are upgrading their current TMS as their strategy. The companies think that by upgrading and utilizing all the new features and functions of their TMS that they will finally solve their problems. Then what they find is, the problem is worse and they don’t know where to begin to fix it. The problem is usually with the data itself.
Despite a TMS upgrade, getting timely, reliable actionable data is often a stumbling block for most. But without it, this journey takes you nowhere. The issue with data (or the lack of good data) often revolves around constraints within their IT departments, who are usually stretched too thin to help.
This is where Intelligent Invoice ManagementSM (IIM) can be plugged into their process’between their carrier, and their current Freight Audit & Payment provider’to not only show them what the problems are, but also help them fix the problems with actionable data. Oftentimes we find that the data is telling the company that the TMS upgrade may not have been necessary.
The piece that companies are missing is the governance layer which is responsible for providing operational transparency (visibility), and performance measures. This is the piece that IIM provides which allows a company to develop strategies that are laser focused and aligned with overall company goals.
Once we explain what the actionable data is and how our system creates it with no internal IT support, the companies we meet with are excited to provide us with a sample of their data to see what strategies we can find.
Dan Roam, a keynote speaker at the conference, presented ‘Lead and Innovate with Pictures’ in which he talked about how a good picture can help people recognize what you do. This presentation made me think about why we use the RateLinx model to simplify a complex system, allowing companies we work with to understand how well we know logistics, and how well we can help solve their most complex issues.
Here is the RateLinx model.
We really look forward to attending The Logistics & Supply Chain Forums to connect with companies and discuss their greatest logistics problems and industry trends. We also will be attending the fall conference. Until then, if you would like to talk more about obtaining actionable data, without support from internal IT resources, and strategizing to solve logistics problems, please reach out to me here.