Sources of information in logistics

From CEOpedia | Management online
Sources of information in logistics
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Primary data and information sources used in logistics activities are:

From the point of view of the specific nature of data, there are sources of information on current results, activities and conditions of operation, as well as sources of prognostic information used in forecast. A special role in information gathering is played by external specialized provider of logistics services (they must also provide relevant and timely information about their activities). In the case of entrusting such an entity status of a full service logistics provider, it becomes an intermediary in providing relevant information from external sources.

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Examples of Sources of information in logistics

  1. ERP Systems: Enterprise Resource Planning (ERP) systems are used to store and analyze data related to logistics activities. These systems are used to track, manage and monitor the inventory, shipping, and billing of products. An ERP system can also be used to integrate all the different departments involved in the logistics process such as procurement, sales, warehousing, and finance. An example of an ERP system used in logistics is SAP ECC (ERP Central Component), which is used by many companies around the world to streamline their operations.
  2. RFID Tags: Radio Frequency Identification (RFID) tags are small electronic tags that can be attached to products to track and monitor their location during the logistics process. They are used to track products from the warehouse to the customer, providing accurate and timely information on their location. This allows companies to better manage inventory and reduce errors in the shipping process.
  3. GPS Tracking: Global Positioning Systems (GPS) are used to track the movement of products and vehicles. This type of tracking allows companies to monitor the location of their products in real-time, and even to estimate the time of arrival of shipments. This technology is especially useful for companies that are involved in international trade, as it allows them to better manage the transportation of products from one country to another.
  4. Smartphone Apps: Smartphone apps are increasingly being used to monitor and manage logistics activities. These apps provide real-time updates on the location of products and shipments, and allow customers to track the progress of their orders in real-time. Companies can also use such apps to provide customers with updates on the status of their orders, as well as information on discounts and promotions.

Advantages of Sources of information in logistics

Introduction: The following provides an overview of the advantages of various data and information sources used in logistics activities.

  • Electronic Data Interchange (EDI) – EDI is a secure and highly efficient way to transfer data and documents between two or more business entities. It enables businesses to quickly and accurately exchange purchase orders, invoices, shipping notices, and other business documents electronically. This reduces the manual effort required to manage document-intensive processes and ensures accuracy in data transmissions.
  • Automated Identification and Data Capture (AIDC) – AIDC is a technology that uses barcodes, RFID tags, and other technologies to quickly and accurately track and identify products and components. This enables businesses to automate the collection of data and improve accuracy in the supply chain. It also helps to reduce the cost associated with manual data entry and enables real-time monitoring and control.
  • Radio Frequency Identification (RFID) – RFID is a wireless technology that uses tags to collect data and track products throughout the supply chain. It can be used to quickly and accurately track shipments and stock levels and reduce the time and cost associated with manual data entry. In addition, RFID tags are often used in combination with AIDC systems to improve accuracy and reduce the cost of tracking products.
  • Warehousing Management Systems (WMS) – WMS is a software system designed to enable businesses to manage their warehousing and inventory operations more efficiently. It can be used to monitor and control stock levels, optimize order fulfillment processes, and track shipments.
  • Transportation Management Systems (TMS) – TMS is a software system designed to optimize the transportation process. It can be used to plan, track, and manage freight transportation, as well as to reduce transportation costs.
  • Supply Chain Management (SCM) – SCM is a system designed to optimize the flow of information and resources in the supply chain. It can be used to plan and manage inventory levels, optimize the ordering process, and automate the tracking of shipments.
  • Business Intelligence (BI) – BI is a technology used to collect and analyze data to gain insights into trends and patterns that can improve the efficiency and effectiveness of business operations. It can be used to gain insights into customer behavior, optimize pricing strategies, and improve the accuracy of forecasts.

Limitations of Sources of information in logistics

The following are some of the limitations of sources of information used in logistics activities:

  • Data accuracy - Data accuracy is a major limitation of many data sources used in logistics activities, as the data collected may be outdated, inaccurate, or incomplete.
  • Lack of standardization - As there are no universal standards on how to collect and store data, different logistics companies may collect and store data in different formats, leading to inconsistencies.
  • Privacy concerns - Privacy concerns may also be a limitation of many data sources used in logistics activities, as some data may be confidential or sensitive in nature.
  • Cost - Cost is also a limitation of some data sources used in logistics activities as data collection can be expensive and time-consuming.
  • Availability of data - The availability of data is also a limitation of some data sources used in logistics activities, as not all data may be available or accessible.

Other approaches related to Sources of information in logistics

Introduction: The sources of data and information used in logistics activities can be divided into primary and other approaches. Below is a list of other approaches related to information sources in logistics.

  • Market Forecasting – Market forecasting involves predicting the future demand of goods in order to manage future inventory and production requirements. This can be done by analyzing past sales data and market trends.
  • Geographic Information Systems (GIS) – GIS enables logistics professionals to visualize and analyze data related to the physical location of goods. This helps them to better understand the geographical aspects of the supply chain and make better decisions.
  • Big Data – Big data analysis helps logistics professionals to identify patterns and trends in large amounts of data. This can be used to predict customer demand and make better decisions.
  • Artificial Intelligence (AI) – AI is used to automate and optimize logistics processes. AI can be used to analyze data and make decisions about inventory management, order fulfillment, and route optimization.
  • Predictive Analytics – Predictive analytics helps logistics professionals to identify future trends and anticipate customer needs. This can be used to make better decisions about inventory and supply chain management.

In summary, other approaches related to sources of information in logistics include market forecasting, GIS, big data, artificial intelligence, and predictive analytics. All of these approaches can be used to improve the efficiency and effectiveness of logistics operations.

References

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