Think back—when was the first time you used a computer? Depending on who you are, your mental image could range from a laptop to the dulcet tones of dial up to even the calming (or possibly menacing) DOS staring unblinkingly back at you. Mentally moving from this to what we have now can be a bit jarring. It’s safe to say we’ve come a very long way in a very short amount of time.
If there’s one thing the supply chain industry is good at, it’s finding new efficiencies, and that certainly doesn’t stop at technology. We’re taking a look at some of the most impactful types of programs out there and the way they’re shaping how we move cargo every day.
Predictive Analytics
Predictive analytics relies on highly sophisticated data models to determine what a supply chain may look like in a certain period of time. These programs take years of metrics, combine them with information about common trends, and then work out what could happen—how much stock could an organization have, or how much could fuel prices rise? Then organizations can use this informed hypothesis to plan for upcoming challenges or opportunities. We don’t know about you, but we think that’s pretty darn amazing.
Of course, looking into the future isn’t an easy feat, and sometimes, even complex data models are bound to get it wrong. After all, who in 2018 could have predicted the impact COVID-19 would have had on the supply chain? Still, an informed guess is better than nothing, and these programs are learning and growing every day. As predictive analytics evolve, they’ll continue to provide increasingly accurate data to better inform supply chain strategies across the world.
Smart Management Systems
Order Management Systems (OMS) and Transport Management Systems (TMS) have been around for several years. In that time, each has grown to address common concerns that organizations run into while transporting cargo. One of the largest hurdles is commonly a lack of visibility.
Enter Mercado, the first iOMS (Import Order Management System). This collaboration between TOC Logistics and Mercado Labs is a cloud-based platform that connects every part of an organization’s supply chain in one place. It handles a wide range of tasks, from supplier booking, product monitoring, receiving, managing payments, and more.
Essentially, organizations need a single source of truth to base their operations on. The iOMS serves as this touchpoint for suppliers, external partners, internal departments, and logistics providers so everyone is on the same page all the time. Goodbye, spreadsheets. Hello, future.
Our team is always pushing the boundaries when it comes to supply chain technology. If a program doesn’t exist to solve our customers’ biggest problems, well, we collaborate to create one. When we aren’t working on the next big thing, we’re keeping up with the industry and offering strategic advice based on cutting-edge tech and data. It’s just another way we put our customers first.