Supply chain teams faced numerous challenges in logistics and transportation markets this year. Rising fuel costs, driver shortages, poor shipment visibility, and evolving consumer demand put enormous pressure on logistics teams to increase operational efficiencies while simultaneously managing costs.
Logistics teams that consider trend-based supply chain resolutions can achieve better results.
Every New Year represents a fresh start and an opportunity to establish new habits. This should go beyond personal goals for fitness, business, or self-improvement. The New Year is an opportunity for supply chain professionals to evaluate processes and identify opportunities to optimize networks and systems.
Here, we present 8 supply chain best practices for 2023, your New Year supply chain resolutions.
10 New Year Supply Chain Resolutions
1. Leverage Digital Freight Networks
Modern freight networks are expansive yet fragmented, putting enormous strain on the supply chain teams attempting to manage them. Manual processes for pricing, tendering, tracking, and managing exceptions are not only outdated, but they also are inefficient and put customer relationships at risk. Digital freight networks connect logistics teams and their diverse carrier networks to streamline and optimize operations, minimize costs, and meet ever-increasing consumer delivery expectations.
2. Utilize a Robust TMS with Multimodal Optimization
Multimodal freight optimization streamlines complicated freight shipping by combining multiple shipping modes to move cargo from Point A to Point B as safely, quickly, and affordably as possible. It offers flexible solutions to the issues plaguing the supply chain, like rising fuel costs, unpredictable container availability, fluctuating freight rates, and inconsistent consumer demand. An advanced TMS supports and simplifies multimodal optimization by integrating disparate data sources, improving visibility, meeting delivery expectations, and reducing freight spend.
3. Achieve Control Tower Visibility
Control towers were designed initially as visibility platforms, but they have the power to do much more. Modern control towers provide the ability to visually manage transportation transactions using customizable maps, filter options, and summary data to drive efficiency and collaboration. This allows logistics teams to search for the correct info, visualize and identify exceptions, and quickly take immediate corrective actions to meet increasingly high consumer expectations for efficient delivery. This goes hand-in-hand with …
4. Collaborate and Automate Based on Shipment & Order Visibility
5. Fortify Compliance to Mitigate Sourcing and Global Trade Risk
6. Use Data Stewardship & Deep Analytics
Data stewardship proactively controls and improves the lifecycle of data sharing, generation, re-sharing, and application to provide companies with high-quality, accessible data. Beyond data management, data stewardship protects data from loss, corruption, theft, and misuse. Data stewardship ensures that data is used correctly to inform company decision-making and strategy. With a growing reliance on data, 2023 supply chain resolutions should include careful data stewardship to guide data analysis.
7. Manage Peak Seasons with Flexible Technology Solutions
Seasonal fluctuations in freight volumes create uncertainty regarding capacity and spot freight rates. Demand fluctuations during the produce season, back-to-school, or the holiday shopping peak can quickly destroy transportation budgets. Proactive planning mitigates the risks associated with peak seasons. A well-integrated TMS provides additional support to ensure improved workflows, advanced freight matching, and dynamic route optimization. Moving into 2023, companies should lean on technology to navigate peak season market shifts.
8. Be Strategic & Tactical in the Final Mile
The pandemic ushered in a shift in consumer demand for e-commerce and expedited fulfillment services, forcing companies to quickly scale last mile operations to stay relevant in a highly competitive market. While the COVID-related dust has seemingly settled, the last mile remains a top priority for supply chains in 2023. Driving strategic value in the last mile with technology to support route optimization, personnel optimization, and real-time visibility is critical for companies in the year ahead.
9. Collaborate to Improve Customer Experience
Supply chain collaboration involves multiple entities coming together to focus on a singular objective, like improving the customer experience. This objective is increasingly important in the e-commerce market, where consumer demand for reliable delivery is non-negotiable. Collaboration through a TMS seamlessly integrates data from disparate carrier systems, improves visibility and exception management, and enhances the customer experience. Collaboration benefits shippers, carriers, and customers and is among the most important supply chain resolutions.
10. Use Tech for Freight Claims Management
Damage, theft, and loss are inevitable occurrences in the logistics industry. If a company moves enough freight, it will invariably have to deal with claims. Unfortunately, the documentation and claims filing process is time-consuming and can present numerous challenges for supply chain teams with limited resources. Implementing a technology solution to outsource claims management alleviates these constraints and improves claims outcomes to retain valuable revenue.
Choose the Right TMS to Optimize Supply Chain Operations in 2023
MercuryGate delivers a customizable, integrated TMS to link the systems and data necessary for full visibility on the journey to an efficient and resilient supply chain. Ready to learn more about lies in store in 2023? Watch the Logistics Landscape Webinar for a comprehensive look at the year ahead and how MercuryGate is optimizing our clients’ operations to achieve 2023 supply chain resolutions.