TMS Reporting/Data-Driven Analytics/Tai Software
The moment your business invests in a TMS solution, you effectively open up the door to new insights and advanced reporting capabilities. The right application and aggregation of TMS data should empower you enough to achieve end-to-end supply chain visibility. What’s more, you should get a better understanding of freight costs and plan for changes in demand.
Seeing as already, approximately 51% of companies already use TMS that resides within the cloud, how best can you leverage the TMS and resulting data?
Utilize Data as an Asset with Tai’s TMS Reporting
At present, chances are that you are already dealing with challenges including tight capacity, rising freight prices, and a driver shortage which then impacts on the entire supply chain. As such, a TMS solution becomes a necessity if you are to navigate these challenges and streamline your operations.
With a TMS, you can generate a customized report that aligns with your business requirements. To gain a competitive edge, you’ve got to devise a means to leverage these reports in a manner that makes it possible to analyze freight spending and to measure the yield against previously agreed-upon KPIs or SLAs.
The Reason you Should Invest in a TMS Solution and Leverage the Data it Yields is That you:
Gain Insight on Day to Day Operations in Real-Time
Part of your TMS’s data and reporting capabilities is that it provides you with real-time freight data analysis. The freight data analysis report is essentially an all-inclusive report that is used to evaluate your overall freight spend. It is a comprehensive review of all information that’s contained within subsequent reports. What’s more, it estimates the costs of the modes that have been using as well as the shipments tendered and other activities that best capture the best-in-case scenario when it comes to cost management.
Other than the freight data analysis, the TMS solution increases your freight invoicing capabilities. With the TMS data-driven insights, you should be able to keep better tabs on where your money is going. The freight invoicing reports give rise to the carrier used reports that is a full breakdown of carrier and mode of Frequency. Overall, you get to have enough information to optimize your transportation spending.
Moreover, by leveraging Tai’s TMS reporting data, you get to have a freight shipment summary that provides you with a snapshot of a given reporting period that would impact your overall freight spend. With the freight shipment summary, you end up with a one-stop report that provides you with an unrestricted view into your actual freight spend, which you can then compare with your projected spate freight spend.
Finally, with Tai’s TMS reporting, you should be able to get visualized reports of carriers used. This is a per shipment report that shows the use of carriers, including the top shipments by weight and top carriers by the number of packages.
It would only be right to mention that you can go past just these reports. You can get a volume analysis that can filter by model, carrier, supplier, product, lane, and customer. What’s more, you can curate a performance analysis where you get insights into the metrics that you’ve predetermined. Overall, you should be able to get an improvement analysis that details what’s needed for you to best optimize your experience.
Allow for Quick Decision Making
It is prudent to mention that with the TMS, you should be able to break up shipments by zones. Specifically, you should be able to break down the data into at least six zones and carrier utilization. You can even take this to a deeper level and have this report go down to the sub-zones.
Other than the zoning, you can curate your TMS data to include a report of the weight. The weight will be done in classes that show the percentage of weight for each given class. Depending on the LTL rate that you are presented with by your carrier of choice, the weight band of your cargo will end up being divided by the total weight of the band allotment.
As a shipper, all of this means that you should be able to make informed decisions without having to incur the extra costs that come about due to over or underrating shipments. This comes in handy since, traditionally, most individuals end up being subject to severely underrating shipments. The result is that you end up with higher rates than what you would have otherwise spent as an everyday shipper.
Overall, when you apply the data collected through the TMS, you should end up with a better understanding of weight class utilization. Suppose you are to consolidate with the rest of the data collected through the TMS. In that case, you should be able to gain insights that help you consolidate your shipments and take advantage of lower rates.
Concisely, leveraging TMS data informs better decision-making, which should see your business navigate some of the challenges you might not have had you chosen to go without the TMS solution.
On-Demand Update Feature
Every TMS needs to have great load planning and route optimization tools. These are the types of features that catapult your TMS to a tool that most definitely gives you a competitive advantage.
With Tai’s TMS solution, you can make requests for specific feature updates that best reflect your needs. You should be able to come up with total and average metric reports that best capture what you require in a TMS solution. The consequence is value and insights that optimize your operations and give you a competitive edge that you should be looking to take advantage of.
By having on-demand feature updates, you should be able to easily access advanced reporting. This should catapult your business towards a culture of data-based decision-making.
TMS reporting is a competitive edge that your business can simply not afford to ignore. With the data that these platforms yield, you should be able to make better decisions that streamline your business processes. What’s more, you should be able to address the transportation capacity crunches that we’ve highlighted above.
Concisely, the goal is to have a TMS solution that maximizes your ROI and builds your reputation at the same. With Tai TMS, you get to maximize your ROI while creating a competitive advantage that others within your niche only hope to achieve. Request a demo today and get a first-hand demonstration of how TMS data can be leveraged to upscale your operation.