New research shows how supply chain and logistics companies currently are using the Internet of Things and how they plan to expand use in the future.
The Internet of Things is already here — monitoring our footsteps, heartbeats, lighting, home temperature, and environment. And it will continue to expand at a rapid rate. Frost & Sullivan estimates that connected objects will total more than 50 billion by 2020. Morgan Stanley says 75 billion. Either way, it’s clear that the number of internet-connected devices is growing exponentially.
For the supply chain and logistics industries, this is exciting news The transparency and end-to-end visibility afforded by the IoT creates new opportunities that businesses can leverage in order to optimize supply chains and generate value.
Eft, a logistics and supply chain solutions provider, recently polled 600 supply chain decision-makers to understand their “existing and future plans for leveraging the IoT within their operations.” The results offer an interesting picture of the changing relationship between supply chain and logistics and the Internet of Things.
Key findings include:
41% have an IoT solution in place.
87% plan to expand use of the IoT.
61% are analyzing less than half of their IoT data.
What kind of information are companies looking to gain with the IoT?
Location
Security
Temperature
Speed
What are companies hoping to achieve?
To improve customer service with better information
To provide customers with more frequent updates on shipment pick-up or delivery
To improve speed, delivery timeframes
What types of solutions are companies using?
Bar codes
Data logger
IoT sensor and monitoring technology
In which area are you hoping to improve operational visibility the most?
80% land shipments
50% air shipments
33% sea shipments
What level of threat is cyber security to your IoT strategy?
17% major threat
47% moderate threat
32% minor threat
5% non threat
What is the primary purpose of your IoT network?
59% alarms and real-time monitoring
41% optimization and prediction
Read the full report to get even more insight into how the supply chain and logistics industries are engaging with the IoT.
Fronetics designed a content marketing strategy that helped the logistics software company realize increases in new business and sales revenue.
Your company is doing pretty well. You have a nice website and a social media account or two. And you’ve experienced year-over-year growth. Why would you do anything differently?
Just ask TotalTrax, a provider of real-time vehicle, driver, and inventory tracking technologies for manufacturing and warehouse operations. Despite a decade of positive growth, the company realized there were many untapped opportunities for new business. So the TotalTrax team hired Fronetics Strategic Advisors to create and implement a new, data-driven marketing strategy that could increase web traffic, lead generation, and brand awareness.
After a comprehensive audit of TotalTrax’s digital assets, Fronetics was able to recommend a course of action and implement a multi-channel content marketing program. The program included such steps as:
Creating a blog and posting regular targeted content
Consistently posting on TotalTrax’s social media accounts
Implementing paid search, email marketing, and other strategies
After just 24 months, TotalTrax realized significant gains in web traffic, lead generation and nurturing, and — most importantly — new business and sales revenue.
To learn more about how content marketing helped TotalTrax grow business, download our case study below.
The Supply Chain industry is changing, while it’s becoming harder for companies to hire at the same time. These supply chain demographics provide a picture of the industry today.
This guest post comes to us from Argentus Supply Chain Recruiting, a boutique recruitment firm specializing in Supply Chain Management and Procurement.
Everyone knows the Supply Chain field is changing. Recently, one of the best Supply Chain publications out of the U.S., Supply Chain 24/7, released a report that examines the demographic trends underlying the industry. The report, titled “A Portrait of the Supply Chain Manager,” used research survey data from Peerless Research Group and APICS to present a picture of the typical individual working in Supply Chain. The survey asked a number of Supply Chain and talent-related questions, such as:
What percentage of Supply Chain professionals received a raise last year?
What percentage of Supply Chain managers hold a degree?
What percentage of companies are willing to pay above-market compensation for the right people?
And more. These issues are sure to be of interest, whether you’re looking to hire in Supply Chain or just to get a holistic picture of the field. So we put together this spiffy infographic that highlights the answers to these questions and some other interesting datapoints from the report. Check out the infographic below!
We hope you found the supply chain demographics infographic informative, and we encourage you to dig into the full report for even more insights about where Supply Chain professionals stand and where the field is going. And (as always) stay tuned for more info and perspective about Supply Chain and talent from Argentus in the coming days and weeks!
TotalTrax leverages content marketing to increase web traffic, generate high-quality leads, and, ultimately, grow business.
TotalTrax, Inc., is a provider of real-time vehicle, driver, and inventory tracking technologies for manufacturing and warehouse operations. Despite a decade of positive growth, the company knew it was missing opportunities for new business because of its lack of a clear digital strategy.
That’s why TotalTrax hired Fronetics Strategic Advisors. The firm created and implemented a multi-channel content marketing program designed to increase the company’s digital footprint and accelerate growth.
Content marketing can help a business elevate its brand position by producing content that demonstrates industry expertise, offers valuable information, and builds trust with their target audience. Example benefits include:
Increased brand awareness
Higher referral traffic
Better lead generation and nurturing
Improved customer loyalty and trust
Decreased marketing cost and higher ROI
Fronetics evaluated TotalTrax’s existing digital assets. Leveraging extensive market research, the firm helped refine the company’s messaging and content distribution to better engage potential customers. Fronetics then implemented the customized content marketing strategy to help TotalTrax fully leverage its web presence to bring about new business.
The results
In a 24-month period, TotalTrax realized significant gains in web traffic, quality leads, and brand awareness. Key results included:
19% increase in overall web traffic
500% increase in traffic from social media
244 high-quality leads
30% net increase in new customers
To learn more about Fronetics’ strategy for TotalTrax, download the free case study below.
Improve your company’s financial performance by implementing a risk-management strategy that plans for everyday events and disruptions.
Supply chain disruptions can have a significant impact on business and financial performance. A recent PwC and the MIT Forum for Supply Chain Innovation survey found a strong correlation between the maturity of businesses’ risk-management processes and reduced decline in operational performance indicators in the face of disruption.
A supply chain company’s need for a well-developed risk-management strategy is clear. That means planning for disruptions beyond the big-impact events, like environmental catastrophes, cyber attacks, and geopolitical instability. Companies need to be better prepared to handle day-to-day bumps in the road.
Managing everyday risks
Managers will often consider cataclysmic events but ignore the smaller risks that create friction in the supply chain. Dealing with these smaller factors in a reactive and piecemeal fashion is inefficient and ineffective and can significantly hurt your company.
Consider the following tips when developing an effective risk-management strategy that focuses on the everyday risks:
1) Employ a robust strategy that is always evolving.
Consider all of the factors that currently influence your supply chain, and be vigilant in terms of new technologies or emerging risks that could impact operations in the future.
2) Put a leader in charge.
Choose someone experienced in crisis management, negotiation, and critical problem-solving. This leader should be skilled in diplomacy and remaining calm under pressure.
3) Make sure the strategy is flexible.
A strategy that it uncompromising and rigid can exacerbate issues.
4) Define your comprehensive process.
Develop a clearly defined process to mitigate events such as cash-flow issues, inventory risk, competitor interruptions, client credit risk and default, data backup and recovery, key client attrition, employee satisfaction and retention, social media use and abuse, and reputation recovery.
5) Include human resources in the strategy.
Consider moving employees into new roles as a solution. Moving an employee into a new role permanently (or for a specified period to deal with an event) can help mitigate issues.
6) Don’t hide the issue.
If there is a problem, be sure that the clients hear about the problem from you. Be clear, concise, and honest when you contact clients. Explain what the issue is and what you are doing to address it.
7) Get everyone on board.
Take the time to make sure everyone is educated about the strategy and who is in charge. If just one person knows the strategy, it will not be effective.
Look at your financial metrics on a granular level, beyond the basic snapshot, to identify opportunities for growth.
Big data can show homogeneous revenue opportunities and cost inputs. But that overview is inadequate for determining how different aspects of your business are performing and where opportunity for growth may lie.
Essentially, you need to analyze your financial metrics at a granular level rather than in aggregate. For example, your business probably offers several products or services and feeds off of more than one revenue stream. Each must be evaluated separately in terms of value and profitability to determine how each is performing, rather than just examining your entire portfolio as a whole.
The key to increasing profits is not always blazingly obvious, but rather it is hidden in the minutia. There you will identify what is growing the business and what is not.
How to get down to the granular level of your financial metrics:
Consider your sales figures.
What is your profit — broken down by product, brand, region, etc.? Note any similarities and differences. Can you identify outliers? Can you identify what works and what your barriers are? If not, you must drill down further. For example, if a specific product is successful, why is this so? Is its success the result of a team or an individual? Can this knowledge or skill be applied to other products or services?
Identify products, brands, or services that don’t make financial sense.
You know they exist already. They are the ones that eat up your resources or simply no longer fit well with your brand. It may be time to eliminate ill-fitting clients, products, or services that don’t benefit the company. You then can pour the freed-up resources into higher-profit activities.
Know what the critical numbers are.
What is important to your business can be very specific to your industry. Inc. magazine’s guide to tracking critical numbers offers a great example: “A software consultant may focus on billable time, for instance, while a food retailer should be looking at sales per labor hour.”
Repeat this review process often.
This is not a one-time exercise. Typically, financials should be reviewed monthly, but each business will vary. Things that ebb and flow, like inventory or manufacturing output, should be reviewed each day, and the sales pipeline should be examined once per week.
