Did you catch any of the televised artistic swimming (formerly known as synchronized swimming) from the Summer Olympics in Paris? The athletes’ synchronous movements were stunning – and can serve as a visual lesson in the importance of operating in sync. One wrong move and it’s the agony of defeat.
Sure, supply chain synchronization may not be as visually beautiful as artistic swimming. But when all the pieces of the supply chain are intertwined and move together seamlessly, the results can be pure gold for stakeholders.
That quest for gold in the supply chain industry is growing. The global transportation management system (TMS) market size is projected to jump from $13.6 billion in 2023 to an astounding $68.2 billion in 2033.
Obviously, supply chain stakeholders are becoming increasingly aware of the importance of an advanced TMS. Supply chain synchronization obtained through the most advanced TMS software enables business growth by providing full visibility, improving workflows, and reducing costs without compromising on-time and in-full (OTIF) performance.
Supply Chain Management Review said that “synchronization can help companies weather the challenges and opportunities of economic uncertainty. When shocks occur, end-to-end visibility – coupled with strong relationships – provide a critical foundation for maintaining operations.”
It added that “by reducing costs and enhancing value, synchronization helps protect margins and sets the stage for future growth. While not a silver bullet, end-to-end supply chain synchronization does represent a powerful new strategy for managing risks and delivering value in uncertain times.”
Without synchronization, every leg of the supply chain faces serious roadblocks, including:
There are many benefits of supply chain synchronization, including opportunities for scaling, optimized operations, and overall business performance improvement.
Modern TMSs must provide real-time, end-to-end visibility throughout the entire supply chain – with cloud-based solutions.
“Cloud-based TMS solutions offer scalability, flexibility, and cost-effectiveness compared to traditional on-premises systems,” Nova One Advisor said. “With businesses increasingly adopting cloud technologies, the opportunity for TMS providers lies in catering to this shift in preference. Offering robust cloud-based TMS solutions can attract a broader spectrum of clients, including small and medium-sized enterprises seeking scalable options. As the industry continues to embrace digital transformation, TMS providers can position themselves strategically to capitalize on the rising demand for cloud-based logistics and transportation solutions.”
A cutting-edge TMS enables supply chain synchronization with such solutions as:
Supply chain technology plays a vital role in streamlining and providing visibility to the order-to-cash (OTC) process.
“With digital invoicing, automated tracking systems, and data analysis tools, businesses can optimize their operations and enhance efficiency,” a Medium blog said. “By establishing standards, utilizing effective accounting software, digitizing invoices, and conducting regular data analysis, businesses can improve their OTC process and drive growth.”
Full visibility allows TMS users to track every step of the supply chain, from order placement to final payment. That visibility helps:
OTC visibility enables businesses to scale operations, respond faster to market changes, and manage increased demand without sacrificing quality or OTIF performance.
“Improving supply chain visibility is essential for businesses to ensure better decision-making, optimize operations, improve customer service, and reduce costs,” trucking company Schneider said in a market update.
Gaining that visibility through a modern TMS prepares businesses for long-term growth.
A synchronized supply chain supported by a modern TMS lays the foundation for sustained growth and scalability.
Not all TMSs are the same and not all TMSs help businesses scale. A McKinsey & Company study cautioned that organizational design “is not just boxes and lines. The supply chain function’s organizational design interacts with its assets, technology, processes, and people to make strategy happen. When parts of this system are not aligned, execution can be nearly impossible.”
TMS-enabled synchronization prepares businesses to quickly adapt to changes in demand, market trends, and operational challenges. It also helps businesses prepare for market changes, a current concern as the trucking industry continues to look for signs of market improvement.
“We have a long way to go to return to our target levels of performance, but it is starting to feel like the bottom is behind us for this cycle,” CEO Adam Miller said in Knight-Swift’s Q2 earnings report.
Supply chain synchronization, full visibility, and workflow improvements reduce costs – and position businesses for long-term growth in a competitive market.
“Decision makers are turning away from manual processes and embracing analytics and AI-driven approaches. The next generation of supply chains is set to harness the power of automation to analyze and synthesize large amounts of data, perform repetitive tasks, learn and make recommendations — all while humans oversee and manage the supply chain and make key decisions,” a KPMG report said.
Owlery is an end-to-end supply chain platform designed to handle every aspect of shipping from order to payment. Owlery’s TMS software seamlessly integrates with other systems to provide a comprehensive solution to automate and streamline logistics processes, ensuring accurate, timely, and cost-effective operations.
Owlery enables supply chain synchronization from order to cash with our industry-leading TMS. Our TMS enables supply chain professionals to:
Our supply chain TMS can be configured to seamlessly integrate with other software, such as enterprise resource planning (ERP), warehouse management system (WMS), and order management system (OMS).
Seamless integration enhances data accuracy, reduces back-office redundancies, and ensures that all segments of the supply chain are synchronized. By managing all supply chain partners, Owlery’s systems integration enables integrated quoting and tendering for any carrier and any mode; centralized tracking data; configurable, real-time exceptions; and prebuilt, shareable scorecards.
Owlery allows users to instantly connect with all parts of their supply chain, build stronger relationships, and have all data at their fingertips to transform their logistics operations.
At Owlery, we’re committed to providing businesses with the tools they need to synchronize their supply chains – and achieve real-time visibility, reduce costs, and improve overall efficiency. Schedule an Owlery demo today.
