Free Your Data: Find ROI Outside of Your Walls
The value of data and the return on the cost of collecting that data (especially when it’s primary) exponentially increases when you expand access to it beyond the bars of your own department or company.
Eliminating “Data Jails” by collaborating with suppliers and customers within the supply chain can significantly reduce disruptions.
Break Your Data Out of Jail
When you “jail” your data within your own department or company, you end up with a “value plateau”. When you share outside of your four walls, you break from that data jail and create a new curve with higher value.
To climb above the first value plateau, you make your data transparent and share it outside of your immediate user group. One path to increasing the value of your data is to map out your supply chain organization and vendors in tiers, and consider how each tier can take advantage of the use of the data you collect.
· Tier 1 – Yourself or your own team
· Tier 2 – Your wider organization or another team within your own company
· Tier 3 – Vendors or Customers that work directly with you
· Tier 4 – Customers or Vendors of Your customers
· And so on...
Data Transparency Drives Collaboration
Take for example, Proof of Delivery data captured by a Trucker or a Trucker notifying a dispatcher of a dry run. Imagine if the data stopped at Tier 1 or Tier 2. The value of the data stops with them.
As transparency and collaboration increases, efficiency rises, disruptions are handled quickly, and the return on investment in collecting and digitizing primary data exponentially increases.
Value of Sharing Proof of Delivery
A Proof of Delivery (Signed Bill of Lading) Captured by the Trucker
Tier 1 - Individual - For the driver, a necessary piece of information to submit for billing
Tier 2 - Trucking Company - Used for invoicing the 3PL for invoicing and notifying completion
Tier 3 - 3PL - Able to close the file, accrue for costs, and invoice the Shipper
Tier 4 - Shipper - Close the purchase order, and issue invoice for the order
Value of Dry Run Notification
Truck driver indicates a dry run at the terminal
Tier 1 - Individual - For the driver, to notify dispatcher, and avoid additional phone calls
Tier 2 - Trucking Company - Notify the 3PL of the delay, communicates with terminal
Tier 3 - 3PL - Communicates with Shipper to ask for instructions
Tier 4 - Shipper - Immediately dispatches additional shipment from warehouse to make up for delay
Attaining Data Freedom through Digitization
Sending information over an email will not achieve true transparency- the bars of your data jail will still exist and will constrain the customer value you can deliver. A tech-enabled data sharing ecosystem that standardizes the way to retrieve and visualize data – a single source of truth – will enable you to offer more customer value and deliver a better customer experience. This ecosystem begins with an integration between your transportation management system (TMS) and a single key partner’s enterprise resource system (ERP).
Clockwork works with our customers to improve their delivery performance from tender to delivery to procure to pay, and in turn improve their providers and customers’ logistics. The Clockwork Delivery Performance Platform captures information from a variety of sources to provide insights and dashboards relevant to a range of users. Freeing that data changes perceptions of what your team can do. Let them bypass the bars of email and spreadsheets by having a tool to identify where action is needed and fulfill customers’ new expectations and the volatile demands of managing global freight delivery.