How Big Data Is Delivering The Future
We are transforming our business to create intelligent supply chains that operate at the intersection of physical and digital networks and create even more value for our customers.
Within this issue, however, lies an opportunity. By collecting and using data that is continuously generated within and around the supply chains, they can be made smarter, more predictable, and controllable. This benefits FedEx, as well as our customers.
Data and technology hold the key to unlocking and building better insights, increasing visibility, and improving customer experience. It’s no longer just information about the package, but also the environment in which the package is traveling that we’re collecting to generate those insights and ultimately give more control to our customers.
Connecting physical and digital networks
Every day, more than 20 million packages move through the FedEx network. Each one of them is scanned around 20 times before reaching its destination, moving in a combination of aircraft and delivery vehicles. Our teams around the globe need to be able to act quickly and decisively to ensure packages are delivered at the right time, and the right place.
We are transforming our business to operate at the intersection of physical and digital networks to create even more value for our customers.
Big data powering smart logistics
Among the solutions we’ve recently developed is a near real-time package monitoring system that enables customer service and operations teams to anticipate issues, take action to prevent shipments from being delayed. Predictive algorithms are used to prepare customs clearance information, ensuring that shipments can be delivered as soon as they arrive in their destination country.
In addition to parcel scanning, a sensor device can be placed inside a package, or a container, and transmit location, temperature and other data related to the status of the package to various types of access points, throughout the FedEx network. This enhanced, real-time visibility helps us and our customers plan the next steps in the supply chain – for example making sure that engineers are on-site at the right time ready to receive and install a critical spare part.
Using technology and ever greater amounts of connected, continuous, and contextual data, we are transforming the way we operate. Tapping into the full potential of data analytics can help us improve efficiency, reduce errors, avoid problems, and increase transparency. Most importantly, it helps us deliver more intelligent supply chains for our customers.
For more insights on technology and innovation in logistics, head here.
A version of this article was first published in Forbes Asia on 12 September, 2022.
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