CARGOCONNECT-AUGUST2024 - Flipbook - Page 71
Additionally, reducing turn-around-time (TAT) for dispatch
is crucial in meeting customer demands for immediate stock
availability. Route optimisation tools play a pivotal role in achieving this goal. Establishing robust, transparent partnerships with
customers further strengthens the supply chain9s resilience and
responsiveness.
Enabling Straightforward Value Generation
Benchmarking in logistics involves comparing an organisation9s
practices, processes, and performance metrics against industry
peers or leading companies to identify areas for improvement and
best practices. Here are key approaches and best practices I employ:
* Performance Metrics: Establishing clear and relevant key
performance indicators (KPIs) and regularly reviewing metrics
Unique and Innovative Strategies Enabling Service
such as annual contract rates and onancial aspects.
Abilities
* Process Standardisation: Standardising processes across the
Implementing unique or innovative strategies can signiocantly
supply chain to ensure consistency and eïciency. Benchmarkenhance businesses9 product supply to customers. Here are specioc
ing against industry leaders helps identify best practices in
strategies that companies adopt:
procurement, inventory management, logistics, and distribution.
* Advance Planning with Higher Demand Accuracy: Utilising
* Collaboration and Partnerships: Collaborating with key suppliers
advanced forecasting techniques to predict demand more
and partners to gain insights into best practices. Benchmarking
accurately, improving inventory management and reducing
relationships with suppliers focuses on metrics like lead times,
stockouts.
quality standards, and responsiveness to demand nuctuations.
* Mobile App-Based Stock Requisition: Enabling real-time
* Technology Adoption: Benchmarking technology adoption by
stock requisition and management through mobile applicacomparing the use of advanced IT solutions such as S4-HANA
tions, enhancing eïciency and responsiveness in inventory
ERP systems to enhance visibility, eïciency, and decision-making
replenishment.
in logistics.
* Dynamic Dispatch Planning: Using dynamic
* Continuous Improvement: Fostering a culture
algorithms to optimise dispatch schedules based
of continuous improvement by regularly reviewing
on real-time data, improving delivery eïciency
updating processes to adapt to changing market
Meticulous management of and
and reducing lead times.
dynamics and enhance operational excellence.
transporters and vendors,
* Stakeholder Collaboration in Advance Planimplementation of adning: Sharing advance planning information
Aligning Distinct Capabilities with New
with stakeholders such as suppliers, distributors,
vanced forecasting models, Novel Approaches
and logistics partners to improve coordination
leveraging predictive analytics, logistics managers
fostering SCM visibility and By
and enhance overall logistics performance.
can enhance demand forecasting accuracy, preempt
collaboration, and prioritis- supply chain disruptions, and adjust inventory levels
Ensure Technological Prowess in a Rapidly
and dispatch strategies proactively. This minimises
ing risk management
Evolving System
waste and ensures timely availability of products.
and continuous learning,
To evaluate the efectiveness of advanced IT soluArtiocial Intelligence (AI) powered algorithms analyse
organisations can bolster
tions in enhancing logistics operations, we employ
extensive data to predict demand variations, optimise
a scientific approach to measure performance
inventory, and recommend eïcient transportation
supply chain resilience.
metrics against predeoned objectives. This includes
routes. Machine learning (ML) algorithms continuThis approach not only
conducting regular reviews of technology adoption
improve by learning from historical data and
improves service levels but ously
and utilisation, gathering feedback from stakeadapting to evolving conditions.
also enhances customer
holders, and benchmarking against industry best
practices. Continuous improvement and adaptation
Logistics—Essential to Strategy
satisfaction and drives
to emerging technologies are essential for sustaining
Logistics plays a critical role in optimising supply
business success.
competitiveness in today9s dynamic global supply
chain operations and enhancing customer satisfaction
chain landscape.
in today9s landscape. Efective logistics management,
CARGOCONNECT AUGUST 2024 | 71
