The Purchasing Managers Index or PMI is an indicator for the status of the United States economy for the manufacturing sector. These numbers are economic indicators derived from monthly surveys of private sector companies. According to the Institute for Supply Management, the number dropped to 48.6 from 50.1 in October (anything below 50.0 suggests a decline). The number comes from 5 major factors:
- New orders
- Inventory levels
- Supplier deliveries
- Number of employees.
How does this translates to logistics and supply chain consultation?
Businesses can accurately forecast a contraction in the marketplace with proper business intelligence and visibility. Businesses that lack these necessary reporting tools for their supply chain are not able to control OPEX properly and can make their business less profitable overall. Are these numbers available to you from your current logistics provider? Are they able to give you the kind of data that helps your business grow and pounce when the competition least expects it?
Are these numbers available to you from your current logistics provider? Are they able to give you the kind of data that helps your business grow and pounce when the competition least expects it?
BlueGrace deploys the technology and expertise while partnering with businesses to help them visually forecast both hard and soft cost savings.
When we partner with a new business, we develop custom KPIs that determine how we will achieve maximum profitability for your transportation department. Our team has on-going discussions with our clients on how they can develop a better business daily, weekly, and quarterly.
Our engineering team works closely with your transportation team to discover hidden opportunities in your supply chain. Many of these opportunities can only be seen through extensive data manipulation processed by our staff. With data results graphically represented in heatmap, customer distributions and even state lane analysis, we are able to visually find and correct supply chain errors. These errors can slow down production and cost businesses money in penalties and lost sales.
If you are interested in reducing your freight spend while increasing the success of your transportation department, feel free to call us at 800.MY.SHIPPING. We’d be happy to set up a discovery call with your team and discuss how to get started.