flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

How to Choose the Right Logistics Intelligence Software for Your Business

Editor's Note: Take a look at our featured best practice, Landed Cost Calculator for USA Imports (Excel workbook). This landed cost calculator is an advanced Microsoft Excel ? spreadsheet that can be used to calculate the total landed cost of importing goods into the USA No need to waste time reinventing the wheel this spreadsheet has evolved from many years of practical use and ongoing development by a [read more]

Also, if you are interested in becoming an expert on Supply Chain Management (SCM), take a look at Flevy's Supply Chain Management (SCM) Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.

* * * *

Like most business owners, you’re always looking for ways to improve your operations and make more money. One of the best ways to do this is to invest in logistics intelligence software, like Sifted software. This type of software can help you make better decisions about your supply chain, inventory, and shipping. But with so many options available, how do you know which one is right for your business? This blog post will discuss the key factors you need to consider when choosing a logistics intelligence software package.

What Is a Logistics Intelligence Software Package and How Does It Work?

A logistics intelligence software package (LISP) is a software application that helps you make better decisions about your supply chain, inventory, and shipping. It does this by analyzing data from your business operations and providing insights that can help you improve your processes. For example, a LISP might help you identify bottlenecks in your supply chain or suggest ways to optimize your shipping routes.

Why You Need a Logistics Intelligence Software Package

There are many reasons why you might need a LISP. Perhaps you’re looking to improve your customer service levels or reduce your inventory costs. Or maybe you want to gain a competitive edge by being able to respond to customer demand more quickly. Whatever your reasons, a LISP can help you achieve your goals.

The Key Factors to Consider When Choosing a LISP

When choosing a LISP, there are several key factors you need to consider:

Data Type

First, you need to decide what type of data you want the LISP to analyze. For example, do you want it to focus on your supply chain data, your customer data, or both?

Data Sources

Second, you need to identify the data sources you want the LISP to use. These could include your ERP system, your CRM system, your e-commerce platform, etc.

Data Analysis

Third, you need to decide how you want the LISP to analyze your data. For example, do you want it to provide real-time insights, or do you prefer a more batch-oriented approach?

Reporting and Visualization

Fourth, you need to decide how you want the LISP to report its findings. Do you want it to provide simple reports, or do you prefer a more sophisticated visualization tool?

Pricing

Finally, you need to consider the price of the LISP. Some LISPs are very expensive, while others are quite affordable. Therefore, you need to find an option that fits within your budget.

The Benefits of Using LISP

There are many benefits of using a LISP, including:

Improved Decision-making

A LISP can help you make better decisions about your supply chain, inventory, and shipping. This can lead to improved customer service levels and reduced costs.

Increased Agility

A LISP can help you respond more quickly to changes in customer demand. This can give you a competitive edge over your rivals.

Improved Visibility

A LISP can help you gain visibility into your supply chain and understand how your processes are working. This can help you identify problems and make improvements.

Mistakes to Avoid When Choosing a LISP

When choosing a LISP, there are a few mistakes you need to avoid:

Choosing the Wrong Data Type

If you choose a LISP that only focuses on supply chain data, you will miss out on important insights from your customer data. Instead, make sure you choose a LISP that can analyze both data types.

Choosing the Wrong Data Sources

If you choose a LISP that only uses data from your ERP system, you will miss out on important insights from other data sources. Instead, choose a LISP that can use data from all of your systems.

Choosing the Wrong Pricing Model

If you choose a LISP that has a pay-as-you-go pricing model, you could pay more than you need to. Make sure you choose a LISP with a pricing model that fits your budget.

Some Best Practices for Getting the Most Out of Your LISP

Now that you know how to choose the right LISP for your business, here are some best practices for getting the most out of it:

Get Buy-in from All Stakeholders

Before you implement a LISP, make sure you get buy-in from all stakeholders. This will ensure that everyone is on board with the project and that they understand the benefits of using a LISP.

Define Your Goals

Before you start using a LISP, take some time to define your goals. What do you want to achieve with the LISP? Once you have defined your goals, you can choose the right LISP for your needs.

Test the LISP before You Buy It

Before you purchase, make sure you test the LISP to see if it meets your needs. Many vendors offer free trials, so take advantage of this and test the LISP before you commit to buying it.

Know Your Desired Outcome

When using a LISP, it’s important to know your desired outcome. What do you want the LISP to help you achieve? Once you have a clear goal in mind, you can choose the right LISP for your needs.

Other FAQs About LISPs

Below are answers to some other frequently asked questions about LISPs:

Q: What is a LISP in a nutshell?

A: A Logistics Intelligence Software Platform (LISP) is software that helps businesses make better decisions about their supply chain, inventory, and shipping.

Q: How does a LISP work?

A: An LISP collects data from your systems and then uses analytics to provide insights that can help you improve your decision-making.

Q: What are some drawbacks of using a LISP?

A: Some drawbacks of using a LISP include the cost of the software and the need for buy-in from all stakeholders.

Q: What are some tips for getting the most out of a LISP?

A: Some tips for getting the most out of a LISP include testing the software before buying it, defining your goals, and getting buy-in from all stakeholders.

Q: How much does a LISP cost?

A: The cost of a LISP depends on the features you need and the pricing model of the software. Make sure you choose a LISP with a pricing model that fits your budget.

Summary

If you’re looking for a way to improve your decision-making, a Logistics Intelligence Software Platform (LISP) may be the right choice. A LISP can help you gain visibility into your supply chain, understand how your processes are working, and make improvements.

Excel workbook
The freight management worksheet is a powerful tool that allows you to have complete control over your logistics department. With its easy-to-use dashboard, you can quickly check important information such as total freight cost, number of trips, drivers and vehicles, as well as average time, [read more]

Want to Achieve Excellence in Supply Chain Management (SCM)?

Gain the knowledge and develop the expertise to become an expert in Supply Chain Management (SCM). Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.

Supply Chain Management (SCM) is the design, planning, execution, control, and monitoring of Supply Chain activities. It also captures the management of the flow of goods and services.

In February of 2020, COVID-19 disrupted—and in many cases halted—global Supply Chains, revealing just how fragile they have become. By April, many countries experienced declines of over 40% in domestic and international trade.

COVID-19 has likewise changed how Supply Chain Executives approach and think about SCM. In the pre-COVID-19 era of globalization, the objective was to be Lean and Cost-effective. In the post-COVID-19 world, companies must now focus on making their Supply Chains Resilient, Agile, and Smart. Additional trends include Digitization, Sustainability, and Manufacturing Reshoring.

Learn about our Supply Chain Management (SCM) Best Practice Frameworks here.

Readers of This Article Are Interested in These Resources


284-slide PowerPoint presentation
Unlocking Seamless Operations: Introducing the Ultimate Warehousing, Logistics, and Distribution Management Toolkit In the fast-paced world of modern business, effective supply chain management, logistics, and distribution are pivotal to success. Every delay, mismanagement, or inefficiency can [read more]


 
904-slide PowerPoint presentation
 
 
Excel workbook

About Shane Avron

Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.


Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]

  This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]

We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]

  We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  

The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.
  


OUR CORE OFFERINGS
Flevy Marketplace: Top 100
· Strategy & Transformation
· Digital Transformation
· Operational Excellence
· Organization & Change
· Financial Models
· Consulting Frameworks
· PowerPoint Templates
FlevyPro (Subscription Service)
KPI Library
Streams (Functional Bundles)
Flevy Executive Learning (FEL)
PowerPoint Services

FREE Resources

About Flevy
Management Topics
Marcus (AI-Powered Consultant)
Partner Program
LinkedIn Influencer Marketing
FAQ / Terms / Privacy / Blog
Contact Us: support@flevy.com



CONNECT WITH US!
       
TOP 100 TRENDING TOPICS
Acquisition Strategy
Agile
Analytics
Artificial Intelligence
Balanced Scorecard
Best Practices
Big Data
Breakout Strategy
Business Continuity Planning
Business Plan Financial Model
Business Transformation
CMMI
COBIT
Change Management
Cloud
Communications Strategy
Company Financial Model
Competitive Advantage
Competitive Analysis
Consulting Frameworks
Continuous Improvement
Core Competencies
Corporate Culture
Cost Reduction Assessment
Customer Experience

BROWSE BY FUNCTION
Strategy, Transformation, & Innovation
Digital Transformation
Operational Excellence and LSS
Organization, Change, & HR
Management Consulting

Customer Journey
Customer Service
Cyber Security
Data Privacy
Decision Making
Digital Marketing Strategy
Digital Transformation
Digital Transformation Strategy
Due Diligence
ESG
Employee Engagement
Employee Training
Enterprise Architecture
Growth Strategy
HR Strategy
Hiring
Hoshin Kanri
ISO 27001
ITIL
Information Technology
Innovation Management
Integrated Financial Model
Kaizen
Kanban
Key Performance Indicators

ADDITIONAL RESOURCES
Business Strategy Frameworks
Case Studies
Consulting Training Guides
COVID-19 Trend Data
Digital Transformation
Financial Advising Services (FAS)

Knowledge Management
Leadership
Lean
Lean Manufacturing
Logistics
M&A (Mergers & Acquisitions)
Manufacturing
Market Research
Marketing Plan Development
Maturity Model
McKinsey PowerPoint
McKinsey Templates
Operational Excellence
Organizational Change
Organizational Design
Performance Management
Post-merger Integration
Pricing Strategy
Process Improvement
Process Maps
Procurement Strategy
Product Launch Strategy
Product Strategy
Project Management
Quality Management


Free Resources
KPI Library
Lean Management
Lean Six Sigma Training Guides
Marcus Insights
Operational Excellence

Real Estate
Remote Work
Restructuring
Risk Management
Robotic Process Automation
SWOT
SaaS
Sales
Scrum
Service Design
Six Sigma Project
Social Media Strategy
Strategic Planning
Strategic Thinking
Strategy Development
Supply Chain Analysis
Sustainability
Target Operating Model
Team Management
Total Productive Maintenance
Value Chain Analysis
Value Creation
Value Stream Mapping
Visual Workplace
Workplace Safety


Product Strategy
Small Business Owner
Startup Resources
Strategic Planning
Strategic Planning Process
Value Innovation Strategy


© 2012-2024 Copyright. Flevy LLC. All Rights Reserved.