The transportation and logistics industry has always had to straddle the line between delivering freight on time—all the time—and optimizing cost.
Now, that skill is being tested like never before. COVID-19 has not only presented the industry with one roadblock after another, it has forced organizations within it to reconsider their business models altogether.
Thanks to its ability to understand and desire to embrace the importance of capturing insights from data, one company is navigating this new normal with relative ease, though.
That company is Myfreight. And while it’s been operating in Australia for more than 25 years, the agility with which it can handle end-to-end supply chain and logistics matters has never been as great as it is today.
A lot of the credit goes to the proprietary, cloud-based transportation management system the freight management company uses. It allows Myfreight to provide an unrivaled level of service at a time when new challenges crop up every day.
Recently, I spoke with James Langmaid, Myfreight’s national operations manager, to learn more about how the Domo customer is maneuvering to meet the changing needs of clients, and how exactly data is easing some of the pressure on carriers and transportation providers.
Data informing decisions
As with many other industries, the transportation and logistics industry—particularly as it relates to the healthcare and retail sectors—has been profoundly affected by COVID-19, leaving many within the business either overworked or without any work at all.
To help clients in these sectors, Myfreight relies on data to monitor the performance of transportation providers and create solutions for clients struggling to meet changing customer demands.
With Domo, which Myfreight has been working with for more than five years, the company can not only see in real time which carriers are overwhelmed and dropping in performance, it can offer alternative solutions to customers to ensure their supply chain operates as efficiently as possible.
To further prevent issues, Myfreight can identify and reduce the pressures on carriers struggling with a reduced volume of work as a result of the pandemic. These carriers are often willing to do the work at a lower cost and provide a better service to Myfreight’s customers.
“Domo allows us to advise clients or put solutions in place that will help them mitigate the risk of poor carrier performance,” Langmaid said.
For Myfreight, data is informing the rapid decisions needed to help supply chain efficiency and business continuity.
Pivoting to meet demand
As the market shifts to meet new demands, Myfreight is helping customers within the retail sector pivot to new business models quickly.
Armed with industry knowledge and insights from Domo, Myfreight is able to set up B2C models for retailers, enabling the supply of goods directly to customers at home through online shopping platforms.
Some Myfreight customers have moved away from a centralized distribution center model to meet market standards. But with the help of Myfreight, they are still able to distribute product out of stores, or even houses, to keep their business moving.
With a steady stream of customers and revenue, Myfreight is confident in its ability to make a difference for its clients and offer a helping hand during a time of need.
Said Langmaid: “With Domo, we’ve been able to help clients—and even clients’ own customers—maintain their customer base and supply chain, and keep moving freight around quickly.”
For industries heavily reliant on invoicing, revenue can be difficult to forecast. At a time like this, however, it is imperative to competing.
Myfreight is succeeding in this department by using Domo to see how the revenue stream is performing in real time and to gauge its flow down the line.
“Visibility is the key,” Langmaid said. “With real-time data, we can assist our clients in a way that gives us a massive competitive advantage in quite a difficult time.”
By integrating Myfreight’s internal systems, Domo also helps the company manage a remote workforce, allowing business leaders to measure business performance by monitoring the volume of phone calls employees are having with customers.
This not only provides shareholders with a level of comfort knowing employees have a steady workload, it gives them peace of mind having access to key data on a daily basis.
To learn more about how business leaders can harness real-time data to make smart decisions quickly, click here.