The Future of the Supply Chain Depends on Strong Data Analysis

Too many businesses across the supply chain are still stuck in the past. This is not due to a lack of technological efficiency, but rather the type of technology being harnessed. Disconnected systems that don't talk to each other create data silos and operational inefficiencies that slow down productivity and hinder profitability.

Data, in particular, is the key currency underpinning all decisions and operations across the supply chain. Data existing in silos prevents supply chain businesses from obtaining a sufficient end-to-end view of their processes and stops them from forecasting potential roadblocks and opportunities for service expansion.

The key problem here is not the data itself, but how data is used. It's not enough to collect data, data must be analyzed with intent and purpose. Strong analytics capabilities should fuel smart, data-driven insights which, in turn, are used strategically to drive operational efficiency, simplify communications and planning across different supply chain levels and identify key areas for growth and improvement.

It's time for the supply chain to step into the future and strong data analysis is the key to doing so.

The Problem of Unstructured Data

Unstructured data can cripple supply chain operations at every level due to the interconnected nature of the supply chain. Freight forwarders and carriers who are still manually processing their unstructured data to handle price requests, generate pricing routes and rates, and assemble proposals are effectively stagnating their potential growth rate and leaving money off the table.

Manual processing of unstructured data results in 2x more booking errors and 30% more data inaccuracies. On top of this, it eats up valuable time employees could spend performing other tasks.

Manually putting together one proposal alone takes hours of research from all parties involved, from the freight forwarder interpreting the incoming price request to the carrier interpreting the price request and spending time reviewing and assessing best routes, to the constant back-and-forth.

The repetitive and slow nature of the work drives up employee dissatisfaction and turnover rates within the logistics industry, meaning supply chain businesses continually have to train and replace the revolving door of entering and exiting employees due to the exhaustive nature of the work.

In an industry driven by speed and accuracy, the slow pace of creating a finalized proposal causes everyone playing a role to lose out simultaneously when a proposal can't be put out faster than a competitor. Siloed, unstructured data is costing every supply chain player business and inhibiting revenue growth.

Automation and Data Analysis Are the Future of Supply Chain Efficiency

The future of supply chain excellence depends on the smart, strategic use of data at every level. Supply chain players need to be able to communicate and share valuable data instantly, preventing data silos from forming and slowing down processes.

It's time to step into the future with Stargo.

Stargo harnesses the power of AI and machine learning to provide a platform of capabilities that transform unstructured data from a roadblock into one of the most valuable assets for supply chain efficiency. Whether you're a freight forwarder, a carrier, or even a customs broker, Stargo can help drive efficiency at every level of your operations.

Stargo's innovative Stardox functionality can:

• Extract, cleanse, and enrich all sources of incoming data no matter their format or language into structured, actionable data that you can use.
• Uses machine learning and analytics capabilities to accurately autofill and complete missing or incorrect data, filling information gaps and ensuring the data you're working with is 100% correct.
• Turn incoming price requests and buy prices from incomprehensible documents, PDFs, emails, and instant messages into formatted, ready-to-use plans of action.

With Stargo's StarQuote platform, you can:

• Easily compare multiple shipping routes and rates to find the optimal combinations according to price requests.
• Quickly assemble clear, easy-to-read buy prices consisting of a selection of the best routes and rates, allowing clients to select their preferred buy price route.
• Create comprehensive, multi-lane proposals in minutes instead of hours that will win deals faster.

The interconnected nature of the supply chain means that businesses rely on each other to win deals and secure ongoing contracts, making access to efficient, reliable data even more essential.

Ready To Transform Your Supply Chain Operations?

The future of the supply chain depends on dependable data that can be accessed across all levels to ensure maximum efficiency and profitability. With Stargo at the helm, supply chain businesses can harness the power of automation to streamline repetitive processes and scale their operations with ease at a lower cost and faster time to market.

If you're ready to transform your operational efficiency and elevate your revenue, chat to us about your unique business needs and we'll discuss how we can help.