The Data Era – A New Edge for Carriers
Analytics: The Data Era – A New Edge for Carriers
Advancements in storage and data handling technologies have since triggered a surge in data capture and data retention capacities. The shipping arena is no exception. There is a growing focus on digitalization and digital transformation across all sectors in the logistics supply chain – and in particular liner carriers – has raised the bar for the industry to create better cargo yields by making better sense out of the wealth of data captured. Analytics heralds a new era for shipping, and liner carriers capitalizing wisely on this stand to gain tremendously.
A great time for data-led carrier process integration
Managing data in the highly complex operating landscape of liner shipping has traditionally been daunting. However, new advancements in analytics are unlocking exciting new ways for ocean carriers to capitalize on the value of their data and better integrate their processes. What are some of the key advancements and associated implications that carriers should be paying attention to? We discuss four recurring themes below.
- Real-time, activity-point tracking
The volume and variety of interactions and parties involved in transporting cargo is immense. Every process in the workflow is highly complicated and time-sensitive. Today’s advanced technologies enable carriers to track activity points in real-time using standardized metrics.Standardized metrics enable carriers to make more accurate cost estimations, keep tabs on shipment progress and manage exceptions such cargo rollover, vessel port omissions and vessel delays upfront. This elevates total performance across the organization, through enhanced vessel optimization and container utilization.
- Dynamic route optimization
Visibility in today’s context is much more than having mere reactive knowledge of where a shipment is in the shipment cycle. Intelligent correlation of multiple data points across shipment information, weather and traffic conditions, enables more efficient scheduling and proactive load sequence management.By detecting, evaluating, and alerting potential disruptions on key trade lanes, end-to-end supply chain risk can be mitigated so carriers can run the most efficient fleet route possible. This can be further enhanced through the integration of data from IoT devices. Optimizing routes and resources in a dynamic and real-time fashion is also especially important, given growing consumer awareness and demand for sustainable business practices and reduction of carbon emissions.
- Smarter forecasting
Ever-growing access to information has fostered the emergence of data visualization as an intuitive decision-making tool to deliver insights into complicated datasets and enable predictive action and exception management through data-driven smart forecasting. In short, you can see things before they happen, and that includes threats and opportunities.A well-designed data visualization dashboard can lend a significant edge to your decision-making. Enabling smarter forecasting of demand and resource capacity will significantly optimize resource utilization and reduce unnecessary costs.
- Stronger yield management
The use of intelligent algorithms has created a stronger approach to yield management. The application of specific rules and inputs such as projected contract tariffs and average unit costs into dedicated valuation engines makes it possible to gain greater accuracy and speed in yield calculations in real-time.This improves accessibility to real-time revenues and costs, which then enables more timely visibility over contribution margins and profitability. It also elevates operational governance and reduces cumbersome manual workarounds that have historically been the culprits behind shipping cycle delays.
A future-proof data strategy
The wide availability of a diverse range of analytics and simulation tools puts ocean carriers today in a prime position to capitalize on the benefits of a data-driven approach to business. Deploying the right technology and the right data strategy at the right time can make all the difference in creating a strong analytics-led foundation and giving you a future-proof competitive edge for sustainable success.
From insight to foresight with ALLEGRO
CyberLogitec’s ALLEGRO is a total performance measurement liner solution that optimizes shipping movements across your entire carrier network on a single instance. Leverage the dynamism of ALLEGRO’s intelligent algorithm empowered by field and project experience, to automate your booking route plan activities based on 67 predefined container activities, execute precise real-time contribution margin calculations and manage exceptions rapidly. Elevate your operational and strategic decision-making with ALLEGRO’s smart enterprise performance dashboard that gives you 360-degree visibility to turn your data into real-time actionable insights to power greater foresight in your business management.
View emerging trends, detect potential inefficiencies and generate reports and comparative analyses from a single consolidated data dashboard for a focused KPI-driven approach to decision-making.
Advanced automation for accurate container activity planning and activity-level cost estimation for sophisticated real-time contribution margin calculations.
Easy-to-use intuitive screens with no sophisticated training required.
JAVA and HTML5 compliant to enable access from any smart device.
Proactive to-do system alerts
Designed to automatically detect and notify for exceptions in shipping processes so you can operate in a pre-emptive mode for superior customer satisfaction and service quality.
Establish a winning data strategy today. Discover ALLEGRO now.