New in-transit inventory launched to Proactively Manage Freight Exceptions
DETROIT, MI: Freight management is a highly fragmented industry that is often constrained by an abundance of paperwork and redundant operating procedures. The situation is even aggravated by the inability to reliably exchange information electronically between freight carriers. To overcome this block, Covisint, a cloud platform provider and the freight logistics technology provider- FreightVerify collaboratively released a new in-transit inventory initiative leveraging the latest connected technologies to provide real-time visibility.
Manufacturing organizations now get real time data to accelerate decision making, and managing freight exceptions by increasing the advancement in freight operations. The collaboration will combine predictive analytics with real-time data to help organizations to reduce expensive expedited freight costs, decrease the amount of buffer inventory on hand and minimize costly production scheduling issues.
Freight has long been considered as the most expensive zone to invest in, but with greater visibility access many distinct services can be connected including mobile devices, trucks and traditional messaging so that shipping organizations have a single, real-time view of operations.
“The evolution of the Internet of Things and connected technologies is transforming the way organizations do business. The freight industry faces the same challenges, where it is increasingly important that links across supply chains are constantly connected -- ensuring that product is arriving when and where it should," says Sam Inman, Chairman and CEO, Covisint.
Covisint Platform helps the freight forwarders to focus and solve their business challenges at operational and strategic levels. This enterprise-wide robust application is designed to meet end-to-end needs of freight customers by on-boarding complex B2B integrations. It provides unique positioning within the global automotive supply chain that results in simple connection of freight carriers.
The new inventory reduces the redundancy surrounding administrative cost, complexity and time burdens for both shippers and carriers by offering better business optimization with simple, non-intrusive implementation process and strengthening the power of modern connected devices.