How real-time data insights can reduce logistics costs and challenges

Real-time data for logistics companies.

In the ever-changing business world catalysed through technological advances, real-time data can provide logistics companies with valuable insights to manage their fleet. 

Digital fleet tracking devices.

Real-time data gathered from digital fleet tracking devices enhances the operational processes of businesses and reduces challenges associated with logistics. The logistics industry is worth AUD 10.14 billion as reported in 2018 by the Australian Industry and Skills Committee.

The industry addresses the needs of many other sectors as it enables the transport of goods, which heightens its need for constant efficiency. There are many challenges that arise in the logistics industry that can be narrowed down to originating from a lack of fleet visibility. In the ever-changing business world catalysed through technological advances, real-time data can provide logistics companies with valuable insights to manage their fleet. 

The biggest challenges in the logistics industry.

Increased logistics costs, fuel costs and mismanaged fleets are all issues that arise in the logistics industry due to a lack of visibility and insightful data. Fluctuating fuel prices is something that cannot be controlled by logistics companies; however, their utilisation of fuel can be managed more efficiently. The biggest challenges in the logistics industry are transportation, distribution and inventory management costs.

A study conducted by Entrepreneur in 2019 found that out of their surveyed businesses, 66% stated that fuel costs could be reduced. Real-time data would enable the logistics industry to monitor their fleets and track their activity. In doing so, companies can control unnecessary fleet movement, detoured routes and other logistics challenges that lead to increased fuel costs. 

Another challenge that is faced by logistics companies is the inability to take immediate action when issues occur due to a lack of visibility. Lost time and consequent fuel costs are common issues that arise when there is an ineffective management of fleet activity. To resolve the occurrences of such issues, the logistics industry can implement digital fleet tracking solutions that monitor the movement of their assets.

Digitally monitor fleet location, asset viability and even truck driver safety.

A study released by PwC in 2017 found that 50% of challenges that occur within the logistics industry arise from a lack of digital culture, training and implementation of digital resources. Real-time data will allow logistics companies to digitally monitor fleet location, asset viability and even truck driver safety. This increased visibility would assist the logistics industry to achieve operational excellence and efficiency in their business processes. 

Fleet Management Data Logger

Adapt Ideations digital fleet management solution DRIVE can assist the logistics industry in reducing costs and enhancing their operational efficiency. The near-real time data gathered from DRIVE, enables logistics companies to consistently track the location, distance travelled, travel time and engine status of their fleets. The management solution is also fitted with accelerator sensors that detects when violations occur. Any deviations from the set parameters result in near-real time alerts that enable businesses to take necessary action.

The solution also enables anti-theft and vehicle servicing alerts to be received. Efficiency is key in asset management, and that is why all the data is easily accessible on our platform. The ability to set parameters and receive consistent alerts if violations occur, will assist companies to reduce the challenges of inefficient operations including excessive costs. Monitoring fleet activity for the logistics industry has never been so important. 

Get in touch with us today at enquiries@adaptideations.com to find out how you can enhance your business operations.