Real-time visibility in logistics is no longer a luxury, but a necessity. This naturally brings the ‘estimated time of arrival’ (ETA) into the big picture. Uncertain ETAs can result in costly repercussions – causing supply chain disruptions, heavy penalties and bad credit to your business. However, manually calculating ETA with time and distance only fetches inaccurate results. After all, there are also other factors such as traffic congestion and bad weather that influence ETA.
Machine learning comes handy to predict exact ETAs based on the patterns of past business data. It allows you to gain a competitive advantage over businesses that maintain fragile time frames and helps to improve your commercial opportunities.
Perks of predictive ETA
With predictive ETA, you need not wait for the shipment to arrive anymore. Instead, you get notified when the freight is about to arrive so that your workforce can get ready to execute the assigned task. For instance, you get to know at the earliest when there is an unforeseen delay in freight movement. This way, you can curtail unproductive hours by assigning a different task to your workforce. This, in turn, leads to increased productivity which eventually fetches more revenue for your logistics business.
Every supply chain involves various internal and external risks. Mitigating these risks is mandatory to keep the supply network intact. With access to predictive ETA, the logistics operators can make quick arrangements to manage any given risk in the supply network before it causes a massive disruption in the successive nodes.
When it comes to supply chain and logistics, customer demands are dynamic and both B2B and B2C prefer to get real-time updates about freight movement. With predictive ETA, logistics businesses can satisfy their customers by keeping them informed which, in turn, facilitates them to plan their work accordingly. After all, customer-centric service increases business prospects and boosts returns.
With accurate ETA updates, you can easily streamline supply chain operations and come up with alternatives when there is an unexpected disruption in the same. Predictive ETA helps you to minimize unnecessary expenses as you can avoid paying detention fees and fines by making changes at the quickest in case of a delay.
Want to streamline your supply chain operations and boost opportunities for your logistics business with precise ETA? Talk to our consultants at MoveX today.