Smarter Shipping, Volume 32: The Big Getting Better!
Howdy!
Happy Friday and welcome to Volume 32 of "Smarter Shipping" with Intelligent Audit.
In this edition of "Smarter Shipping," you will find:
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How a Freight Audit Provider Can Help You Ship Smarter
As the holidays approach, are you prepared to capture the most important data you need to make decisions?
Watch this short and to-the-point video of how a FAP provider can help you make better decisions to improve your current shipping process.
The Big Get Bigger: Amazon’s Q3 Results Reveal Impressive Growth
As e-commerce demand continues to explode in both domestic and international markets, major players in the sector are seeing their efforts pay off. In their Q3 reports, e-commerce leviathan Amazon showed impressive growth, far surpassing year-over-year expectations. While this is great news for Amazon, its domination of the e-commerce sector leaves other retailers scrambling for solutions.?
With Amazon standing tall in the e-commerce sector, legacy carriers are trying to figure out where they fit in: UPS is announcing new efforts to meet next-day delivery demands and new acquisitions to scratch the consumer itch for effective reverse logistics. In an industry that’s always moving, here are the seven headlines you need to know.?
Apples to Oranges: Anomaly Detection Unveiled $1000+ in Hidden Fees
In the fast-paced world of global retail, a procurement team stood before a challenge: finding a carrier who could deliver their products with efficiency and economy. They conducted a thorough RFP, seeking carriers to offer clear, all-inclusive rates—no surprise fees, no hidden costs.
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They selected what seemed to be the best option, a carrier offering significantly lower rates. It appeared to be a wise choice until unexpected additional charges started surfacing on the invoices, disrupting their budget and projections.
This development triggered their AI system, designed to detect anomalies in data. It wasn't long before the system identified an unusual pattern of 'beyond' charges that weren't part of the promised all-in rate. As the procurement team investigated these AI-generated insights, they started to unravel a potentially misleading pricing structure offered by their new carrier.
This narrative doesn't end here. The full investigation and its outcomes, rich with strategic pivots and the intervention of cutting-edge technology, are chronicled in detail. Those keen to discover the final revelations and how the procurement team addressed this twist can find the comprehensive case study ready for their perusal—a story of modern trade, the power of AI, and the quest for transparency in carrier pricing.
The latest insights from the?Intelligent Audit Resource Hub
From Reactive to Proactive: Leveraging Machine Learning in Supply Chain to Anticipate Disruptions
Dr. John Langley of Penn State University aptly characterizes the modern supply chain as a multifaceted network connected by various resource flows. This dynamic complexity is highlighted by the cascading effects a single disruption can have worldwide. With 50% of supply chain leaders bracing for more intricacies, businesses are increasingly vulnerable to events like pandemics and geopolitical conflicts, which can paralyze production and logistics. However, the rising application of machine learning (ML) in supply chains signals a proactive shift. ML not only forecasts and mitigates disruptions but also revolutionizes traditional reactive approaches by enabling real-time, adaptive, and predictive supply chain management, safeguarding businesses against future unpredictability.
From the Ground Up: Tackling Supply Chain Costs with Intelligent Audit’s Accounting Tools
In an ever-changing business landscape, economizing on supply chain costs remains critical, akin to a sturdy blueprint for constructing a house. Outdated accounting software and manual processes no longer suffice in the logistics sector, where precision is paramount amidst operational chaos. Traditional methods fail to meet modern demands for real-time updates and transparency, exacerbated by the pitfalls of error-prone manual data entry. A modern accounting approach, embodied by Intelligent Audit, leverages automation, data analytics, and real-time reporting to streamline financial workflows, enhance compliance, and facilitate informed decision-making. This shift is necessary for logistics businesses to maintain competitiveness and satisfy evolving customer expectations.
Demystifying Supply Chain Machine Learning: A Beginner's Guide
Sci-fi movie-like technology has arrived in the supply chain industry with dynamic, interconnected webs of real-time data, RFID tags, and localized production. Machine Learning (ML), a subset of AI, stands out as a transformative force, optimizing operations, predicting stock needs, and customizing routes. It outstrips traditional programming by predicting outcomes rather than following static instructions. ML enhances inventory management, demand forecasting, and route optimization, bringing efficiency, cost savings, and better customer experiences. Despite challenges like data quality, system integration, and initial costs, its potential is immense. Implementing ML requires understanding its impact, building a skilled team, and starting with small pilot projects to test and learn. With companies like Intelligent Audit integrating ML, supply chain management is not only becoming more efficient but also more intuitive, promising a future where operations are not just smooth but smart.
That is it for this week's newsletter! Thanks for bein here and we hope you have a great weekend!