The information age and the internet of things — the network of connected devices that capture and exchange information — have produced a staggering amount of data.
The term big data is used to describe the overwhelming volume of information that is collected and shared through smartphones, tablets, networks and social media. But in business, just collecting and sharing data is not enough. To create value, information must be interpreted and distributed in real-time to allow businesses to gain insight for planning, production, inventory management, staffing and more in order to drive efficiency.
Collecting real-time market data
In logistics, customers have come to expect absolute transparency in their supply chain. This has been in play for years — for example, tracking your UPS or FedEx package by its current location or delivery time.
But in the new information age, that transparency has been taken to a whole new level. Companies now collect real-time market data, supplier and customer intelligence. This enhanced visibility gives companies a distinct competitive advantage.
At Jarrett Logistics Systems, we developed JLS Advanced Analytics: a business intelligence and analytics package. Information is made available through a secure, web-based dashboard that provides real-time analytics and visibility across the client’s entire supply chain.
JLS Advanced Analytics gives executives a dynamic tool to access quality data that helps drive decisions and provides the end-to-end supply chain visibility that our customers expect.
Identifying inefficiencies and disruptions
The program works in conjunction with our own proprietary Transportation Management System, jShip that provides real-time shipment information. JLS Advanced Analytics collects and scrapes the data from jShip in addition to the customer’s warehouse management system and funnels it into the interactive dashboard.
JLS Advanced Analytics reveals trends in data, enabling decision makers to identify inefficiencies and disruptions within the supply chain. As a result of this data, strategic business decisions are made that optimize end-to-end visibility, short-term planning and long-term strategies.
By helping turn large amounts of data into actionable intelligence, Jarrett Logistics Systems is helping our customers to gain more control over their supply chain, transform their operations and improve profitability. ●
Michael Jarrett is founder and president at Jarrett Logistics Systems and PackShip USA