It’s time to check the quality of your ocean freight data.
Is the data you are working with timely? Is it accurate and complete?
The value of supply chain visibility software, specifically exception management applications, increases significantly if the data being manipulated is accurate and timely. With a higher level of data these solutions become powerful tools capable of benefiting all trading partners and ultimately the consumer.
10 Steps to higher level data quality:
1. Understand how business performance will improve based on data quality advancement.
If you are alerted to delays of time sensitive, in-transit shipments you can intervene redirecting stock from either another location, or shipment, to meet critical deadlines.
2. Standardization. If a standard definition for each field of data is created it will ensure consistency.
3. Defining the scope of the data will provide the framework for consistent data quality.
4. Implement a system to measure and validate data quality.
5. Tracking of messages throughout their lifecycle, from inception to conclusion, allows you to determine if they are processed in a timely manner and are complete.
6. Understand the technology required to achieve quality data.
7. Collaboration will deliver better business performance for each party - shipper, carrier, freight forwarder, 3PL and ultimately the final consumer.
8. Is the data in one place and easy to access? Determine the most effective way to obtain shipment data. Look to e-commerce platforms that have established global standards for ocean freight data.
9. Real-time data provides for better decision support and exception management.
10. Tapping into a vast global data stream will help reduce cost and increase efficiencies for all trading partners.