Transportation and Logistics Dashboard and KPI benefits
Currently, the industry of transportation and logistics is gaining momentum regarding the use of dashboards. Increasingly, non-technical companies involved in this sector are seeing the advantages of implementing data-driven platforms in their marketing goals.
The most particular change seen is the substantial potential as well as interest from small cities to “smart” cities. For instance, startups are co-creating valuable products with transportation and logistics dashboard providers through modern solutions like the TransportBuzz.
Dashboards for Transportation and Logistics
Dashboards or data-driven platforms are a modern way of simplifying how organizations control and manage their access to assets like services and data. Usually, that directs them to the following advantages:
- More revenue channels.
- Increased brand awareness and wider reach.
- External sources that facilitates open innovation.
- Better operational efficiency.
An excellent example of an organization that has already benefited from dashboards is Expedia. This company created its own affiliate network and yielded up to $2 billion income per year. The dashboard significantly generated 90% of that income. So, if you are in the transportation and logistics industry and you want to boost your annual revenue, dashboards are the ultimate solution you need.
Choosing the Right Dashboard Provider
Once you’ve decided to integrate dashboards into your business, you need to choose the provider that offers key factors, such as developer portal, documentation, analytics and reporting, access security and control, rate limiting, monetization and billing, and usage policies. These factors will help you present key information with regards to your logistics operations when it comes to movement of cargo. Therefore, you can provide real-time updates to your clients no matter where they are.
Also, you need to consider data visualization features that your provider offers. They usually design self-service platform to guide users in several data sources they need while finding the correlations essential to make informed business decisions. As well, dashboards allow companies to build their custom transportation and logistics data system for faster tracking of their freight. You can use dashboard software as they are easy to implement even if you’re not expert in IT.
Understanding How Dashboards Work
Dashboards provide information on arrival performance, freight cost variance and recovery, and carrier billing. With this data at hand, you can quickly understand your transportation and logistics progress no matter what time of day.
You can also track trends as you wish. Thus, it’s easier to manage cargo carriers, control costs, and make constant improvements in your transportation and logistics business. Here are some key terms commonly used in the logistics data system:
- iE Rated Freight Cost per Unit Weight – this include freight weight, rated cost, and cost per unit weight of transporting cargos for deliveries contained by each shipment.
- Freight Weight – this is the total of gross weights of all deliveries connected to the costs of rated freight.
- On-time Arrival Rate – this is the total of time deliveries that arrived at shipping stops in time as the percentage of all deliveries.
- Carrier Billed to Paid Variance – this is the sum of bill paid to the transporter as the percentage of all payments billed.
- Carrier Payments – this is the total of bills paid to the transporter for the chosen period.
These reports can be used to answer questions like:
- How much is the cost of transportation per pound, per mile, per cubic feet in this period?
- How did companies execute as compared to last year, quarter, or month?
- Which company is getting the highest unit costs per distance, volume, and weight?
- Which logistics organizations have the lowest unit costs per distance, volume, and weight?
- Over time, how do unit costs work for organizations and carriers?
- Mode, service level, and carrier totally spend how much?
- Which transporter has the maximum cost of transporting goods?
Using these tips, transportation and logistics companies can guarantee timely deliveries with real-time updates for managers and clients. That means you can review on-time performance through your dashboard. The information is synchronized so that carriers can determine what aspect has the greatest impact on deliveries to end customers.
Dashboards are the perfect solution you need to achieve higher level of clientele satisfaction.