Data Analytics has quickly become the business function that no industry can live without. Logistics is no exception, from shipping to transportation and even supply chain management, these are all functional areas that have benefitted greatly from the insights gathered from implementing some form of analytics solutions.
How can it help in Logistics?
Analytics can be applied in limitless ways within the logistics industry. DHL’s 2013 case study, “Big Data in Logistics” references analytics assistance in detecting crime, optimizing shifts, customer retention, managing inventory efficiently, sales and advertising insights, and capacity planning. Analytics is powerful when employed in these ways because it uses predictive models to identify risks and shines a light on areas in need of improvement. A well-developed analytics solution can identify the steps to take to reach an optimal solution in almost any given situation. Information on internal business metrics can be collected, monitored, and acted upon in almost real time when utilizing the correct solutions.
By implementing analytics throughout a business, these capabilities can drive massive growth and benefits for the business in just a short time frame. One example of the success analytics can bring is with Worldwide Supply Chain Solutions’ partnership with Bear Cognition. Through this partnership Worldwide Supply Chain Solutions was able to ensure sales growth over its first four years of business, all through actionable insights from logistics consulting and analyses provided by Bear Cognition. Worldwide Supply Chain Solutions provides industry knowledge and Certified Supply Chain Professionals (CSCP) to evaluate and advise on issues revolving around supply chains. This knowledge in conjunction with Bear Cognition’s robust analytical ability brings a compelling edge to this partnership. To hear more about how analytics have transformed Worldwide Supply Chain Solutions, follow this link to watch a webinar lead by Worldwide Supply Chain Solutions President, Brian Tribble.
Bear Cognition’s partnership with Worldwide Express
Since our inception, Bear Cognition has been a partner of Worldwide Express, a nation-wide third-party logistics provider, to advance their capabilities and performance. Prompted by the COVID-19 pandemic, Bear Cognition developed a suite of applications to provide supply chain risk management measures to customers of Worldwide Express. The idea of the set of applications is to provide customers with an aggregate cost/revenue overview, risk mitigation planning, up to date shipment tracking, best practices, and workforce performance metrics. A similar application that models performance indicators can be seen in an earlier post. Since the launch of these applications, Worldwide Express has increased transparency with their customers via the tools powered by Bear Cognition. This increased transparency has helped Worldwide Express customers to not only survive, but thrive even, throughout the economic uncertainty experienced in 2020.
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Analytics is now an integral part of how the logistics industry functions, from managing supply chains to mitigating risk. Two companies that rely on Bear Cognition for their analytical insights, Worldwide Supply Chain Solutions and Worldwide Express, have seen growth and positive change within their organizations since implementing analytical solutions. If these proven advantages to logistics using applied analytics sound interesting, contact us here for a first consultation of how Bear Cognition can help!