How an Australian mining company reduced demurrage costs and streamlind their supply chain with CargoValue
In a business environment defined by technological innovation, supply chain digitization is emerging as a compelling area of focus. According to a survey by Blumberg Advisory Group, supply chain errors cost companies an average of 9.9% of their total revenue. In an era of razor-thin profit margins, can businesses really afford not to digitize their supply chains?
We delve into this question, aided by empirical data, expert insights, and the transformative potential we have seen CargoValue have on the supply chains of our customers transporting raw materials by sea.
Digitizing supply chains: A luxury or something you can do without?
The progression towards digitizing supply chains isn't just a trend – it's a business imperative. However, lingering questions about what digitization entails, its impact, and the tangible benefits it delivers to enterprises, continue to persist. Accenture reports that 77% of CEOs agree that digital adoption needs to accelerate. Moreover, Gartner suggests that by 2023, at least 50% of large global companies will be using AI, advanced analytics and IoT in supply chain operations.
Harness the power of a clear and precise view of your inventory and logistics operations sooner rather than later
CargoValue, developed by Klaveness Digital AS, is a supply chain management solution for companies transporting raw materials by sea. From streamlining inbound logistics since 2016 to enabling outbound logistics from 2019, CargoValue showcases the power of digitization in supply chain management. Not only does it offer a clear and precise view of inventory and logistics operations, transforming raw data into actionable insights in real-time. But moreover, beyond tracking, CargoValue harnesses the power of advanced analytics and scenario modeling tools, enabling users to anticipate issues before they become problems and to make informed decisions that boost efficiency and profitability.
Addressing the challenges of traditional supply chains
Traditional supply chains, often marred by manual planning, miscommunications, and errors, can result in significant losses and jeopardized customer satisfaction. With solutions like CargoValue, companies are empowered to optimize logistics, maintain accurate inventory data, and meet customer demands on time. Importantly, PwC’s Global Supply Chain Survey reveals that supply chain leaders have significantly lower supply chain costs, higher profit margins, and faster cash conversion cycles.
The promise of customer-centricity
Solutions like CargoValue transcend efficiency gains and elevate customer-centricity to new heights. Real-time information sharing promotes transparency and collaboration, enabling better planning, reduced errors, and overall improved customer service. A Salesforce survey shows that 80% of customers consider the experience a company provides to be as important as its products or services, highlighting the importance of customer-centricity in today's business landscape.
Data: The driver of digital supply chains
Data is the lifeblood of digital supply chains. Digital platforms leverage data for informed decision-making, error detection, and future planning. These data-driven insights form the backbone of digital supply chains, revolutionizing traditional methods towards predictive, adaptive, and optimized logistics.
The future holds further advancements in digital supply chain management. With increasing AI and machine learning integration, seamless system synchronization, and continuous digital platform evolution, companies that embrace these advancements stand to gain operational efficiencies, cost reductions, and enhanced customer satisfaction.
Taking the leap
So, can your company afford not to digitize its supply chain and future proof your supply chain management? Digitization isn't just about staying current; it's about securing a competitive edge in an increasingly digital business landscape. With solutions like CargoValue, taking that leap is more accessible than ever.
With this in mind, it is essential that businesses not only recognize the value of digital supply chains but also take active steps towards their implementation. After all, in today's digital age, standing still is moving backward.