I recently read a study from earlier this year that I thought you all might be interested in. It’s a quite in-depth look into the current state of supply chains and the technologies being used to manage them. I got a lot out of the study, and it pretty much affirmed my belief that what we are doing at Bringg is truly helping businesses like 3PLs (the focus of this study) deal with modern challenges for which their current supply chain operations and strategies were not built to handle.
We are living in a time of incredible innovation – both on a technological level and operational efficiency. Given this new reality, businesses are finding themselves in a race to innovate at a rate never seen before.
The biggest focus of this innovation is seen in the last mile, as it has generally been the “choke point” for supply chains.
In a recent study conducted by Korn Ferry, it was observed that, for 3PLs, technological innovation is the “x factor” in the competitive landscape.
The study found that 3PLs need the following technologies in order to have a successful last mile fulfillment process:
- Route Optimization
Route optimization is a critical factor in improving the supply chain, particularly the last mile. With the increase in demand for shipping, the expectation of shorter delivery times and the use of eCommerce, operational efficiency must be achieved wherever possible. By utilizing route optimization, a 3PL could not only provide a driver with the fastest route for his or her deliveries, but delegate delivery tasks to drivers in the most efficient way possible.
- Incentivized Scheduling
3PLs need to come up with dynamic delivery schedules which are attractive choices to their customers, while remaining profitable for the shipper – finding that balance is a tricky proposition considering how high the cost of shipping can be, along with high expectations from people purchasing goods from places like eCommerce sites.
By employing technology to enable this kind of incentivizing, both 3PLs and their customers will be appeased.
- Real-Time Tracking
A stunning 60% of respondents in the study stated that the new technologies they are deploying internally are used for gaining better visibility over their supply chains. That type of visibility means having a way of tracking items, drivers (when they are on-shift), fleets, teams and more at all times.
Today, being “Last Mile Blind” is not something we can live with.
What supply chain and logistics technologies do you employ in order to keep your business competitive?