Spoiler Alert! - Freight forecast is not same as sales forecast. In the simplest form, Freight forecasting can be described as an approach for tracking and analysing flow of freight on selected routes, compiling the data, and then, predicting the expected load of shipments on those routes for the future.
Today, the freight forecasting technology stands miles behind the sales forecasting technology.
The transportation planners are still dependent on just one set of data based on current scenario - the actual shipment volume based on order booking.
Without the right integrated freight forecasting tool, shippers are failing to foresee the competitive advantage of efficient and economic freight management.
The freight forecasting system designed by Transplanning is forward-looking, predictive insight that will help them stay ahead of the curve. These new technologies are driven by data science- an approach based on predictive analytics that relies on a combination of machine learning, statistics, data mining and forecast modelling.
The system can analyse and processing millions of historical shipment data, existing sales forecast to predict accurate lane volume forecast by mode of transportation and service level.
Designed using salesforce.com platform.
API for seamless integration with existing ERP and TMS system.
Can accurately forecast lane volume, transportation cost, seasonal trend and spike of volume for promotions.
Can be integrated with finished good forecast and supply planning system.
Multiple what-if scenario analysis.
Inbuilt intelligent KPIs.
Using transportation forecasting, we can have improved visibility into future shipments, which can help us in:
Improving the efficiency of Transportation and Warehouse Management Systems.
Minimising the Manufacturing Costs.
Manufacturers can identify the loopholes for upcoming transportation requirements, for the logistics department to deal with them beforehand.
Improving the service quality for goods.
Improving the warehouse staffing.
Minimising the issue of Empty Truck Miles and increasing the intermodal shipments.
Bringing the supply chain, logistics and manufacturing units to work on the exact same plan.
Planning beforehand for the increase or decrease in demand.
To sum it up, all these advantages will be just a starting point for a better future in the Freight and Transportation industry.