Dive Brief:
- Global trade software company Haven just launched a new tool, Provider Performance Analytics, according to a company press release emailed to Supply Chain Dive. The tool allows Haven's customers to make better decisions using descriptive and prescriptive analytics.
- Provider Performance Analytics is available to all Haven's customers through the Haven TMS software platform.
- Haven’s Provider Performance Analytics allows clients to: "capture data to drive informed decision-making; analyze provider features such as carrier allocation, on-time percentage, response times and rate competitiveness; compare and rank providers at global, trade lane and port pair levels, and utilize data to drive contract negotiations and future allocation decisions," according to the press release.
Dive Insight:
The value of data analytics within the supply chain has become indisputable.
Using data analytics offers companies rich insights to streamline and improve their supply chains, as well provide early identification of areas of risk. Better supply and demand synchronization can also result from the deployment of data, as well as optimizing various fulfillment channels.
Capturing useful data has only recently become a reality for most organizations.
"One of the biggest challenges for large global supply chains is that they require lots of people working in lots of different locations, " Matthew Tillman, CEO and founder of Haven told Supply Chain Dive. "Much of a company's most important data gets lost in email, phone and chat messages, which means management lacks visibility into the information necessary to extract the most out of their suppliers. Firms that succeed in capturing this information and using it to improve trade win."
Applying data analytics to shipping therefore means applying new standards to the shipper-carrier relationship.
"Haven is built on the belief that shipping is a relationship-based business, and the best relationships are those established on trust," Tillman said. "Data driven decisions are key to a successful supply chain."
According to Tillman, the biggest benefactors of the new platform are those with the most data to analyze.
"Haven's largest customers who have a global network of shipping lines, 3PLs and remote facilities also have the most complicated reporting requirements," Tillman said. "This information, if available at all, was previously buried in the websites of the various providers and translated by hand to internal spreadsheets on an ad-hoc basis. With Haven, this information is now available in real-time using advanced technology to gather and analyze millions of data points."
