Digital transformation in the Supply Chain and Logistics sector is accelerating at a rapid pace. Leading organisations are using the latest technology tools to drive operational efficiencies across their supply chains. Digital solutions are automating repeatable tasks to boost efficiency and promote faster and better decision-making; and early adopters are enjoying a competitive advantage in their chosen markets.
Leading companies are focusing their time and resources on developing their core businesses while engaging supply chain experts to deliver technology solutions and support services. However, companies outsourcing their non-core supply chain activities still want to retain a degree of visibility and control. This means having real-time visibility through interconnected logistics platforms and systems that talk to each other.
Cloud-based supply chain technology platforms leveraging artificial intelligence, big data, blockchain, and the Internet of Things (IoT) enhance efficiency, transparency, and end-to-end visibility. They provide fast, flexible connectivity to multiple partner systems across the supply chain. The automation of processes from order placement through inventory management to delivery confirmation helps reduce manual errors and accelerate operations, improving efficiency. In a data-driven society, and the supply chain industry in particular, technology is the key enabler to optimise performance and reduce costs.
Data is vital to your business for planning, proactive decision-making, real-time visibility, and reporting insights. Supply chain leaders are now prioritising data projects to drive improved operational efficiency and cost reduction. A recent Gartner survey highlighted that data analysis is the leading priority in supply chain, closely followed by internet-of-things (IoT) and cloud computing. Through 2024, 50% of supply chain organisations will invest in applications that support artificial intelligence and advanced analytics capabilities.
The integration of Artificial Intelligence (AI), Machine Learning (ML), and data analytics is a game-changer. AI and ML - Advanced analytics models are used to understand complex and hidden relationships in data to predict what will happen and how to best respond to these future scenarios. Leading global companies are using digital twin platforms to create a virtual model of their supply chain to run what-if scenarios, test for resiliency and quantify key trade-offs across growth, profitability, and service levels. This type of platform helps companies assess end-to-end scenarios to solve complex, cross-functional trade-off decisions across the company’s value chain.
Real-time visibility across the supply chain not only provides valuable insights into the status of inventory, orders, and deliveries but also enables accurate forecasting and proactive decision-making. Real-time integration of data feeds (such as telemetry, real-time pricing, demand signals) enriches existing business processes.
Technologies such as wearable devices, mobile phones, and sensors are increasingly used to provide live monitoring and visibility across the supply chain. Blockchain technology promises enhanced transparency and traceability in the supply chain through its secure and verifiable record of transactions, reducing the risk of fraud. This type of visibility allows you to respond promptly to disruptions, delays, or changes in demand, and keep your customers informed. Real-time visibility means knowing what has happened, what is happening now, what is likely or going to happen, and what are the next best possible alternatives available to you.
Integrated interconnected platforms deliver accurate, verifiable, and auditable data in the procurement of goods and services, order management, inventory management, transport planning and execution, and final settlement. They provide reliable, real-time, and actionable information in visible and easy-to-navigate formats.
A Transport Management System (TMS) is used to plan freight movements, perform freight rating and shopping across all modes, select the appropriate route and carrier, and manage all associated transport costs, documentation, communication, and payments. The TMS facilitates interactions between a company’s order management or warehouse management system and the logistics activities thereafter to ensure on-time delivery to the correct destination at the lowest achievable cost.
At Transnova, we integrate, implement, configure, and support the e2open TMS platform for our customers to ensure an automated, auditable systematic allocation of loads to transporters as per the client’s logistics strategy and contracted rates with its transport service providers. This guarantees that the lowest cost transporter with capacity is always allocated the load where possible to achieve sustainable, system-driven transport savings. With more than 9 million tons managed via our platform each year, we are fortunate to work with over 350 carriers across 6000 lanes, giving us the ability to understand rates for our customers and provide deep transport insights.
Implementing our TMS platform in your organisation gives stakeholders the peace of mind that the lowest cost transport plan is always deployed, each day, based on the resources available, whilst the logistics team has access to more information and data than ever before possible. Equipped with this intelligence, the logistics team can focus on continuous improvement and look for further opportunities to optimise the logistics network and drive costs out of the business.
Inventory-holding businesses face various challenges that directly impact working capital, product availability, warehousing requirements, cash flow, and risk mitigation. Factors such as shifting consumer behaviours, constrained shipping services, and Black Swan events are driving the near-shoring movement and subsequently the ability to optimise inventory is now more critical than ever before.
Transnova has partnered with Netstock to provide customers with a leading AI-driven inventory optimisation platform to help make better inventory decisions and save working capital. Netstock is a supply chain planning software that uses AI technology to forecast demand, along with easy-to-understand and adjust inventory policies, to place orders quicker, reduce stock-outs, minimise excess inventory and optimise capacity planning. Delivering immediate ROI, our inventory optimisation solution provides customers with the visibility to free up working capital, adapt to changes, and deliver outstanding customer service.
A Digital Planning Twin is an advanced platform that creates an end-to-end replica of a company’s value chain, including financials in a virtual environment. A Digital Twin provides a fast and easy way to visualise and interact with a company’s value chain and assess the impact of different scenarios on product portfolio mix, capex projects, sustainability goals, and profitability.