Purchasing price matters but TCO is the real price you pay
Reading time4 minutes
Written onApril 20th 2020
TCO or Total Cost of Ownership is the purchase price of goods combined with the operating costs it carries. These hidden costs can be affected by numerous internal or external events. Whatever the origins of these events, the TCO is always under your responsibility. Wakeo can help you to limit it.
Dynamic ETA and visibility to avoid unbudgeted operational costs
With accurate and reliable ETA, you can make proactive decisions in case of a schedule change and avoid last-minute express trucking or air freight shipping. With a more precise delivery time, you will also be able to optimize labor by better anticipating workforce requirements in the warehouse. This allows you to reduce costs and run your operations more efficiently. Real-time data can help to improve warehouse occupancy and reduce overstock without reducing the service rate.
Visibility also means flexibility. Shipments can be rerouted to cover inventory needs to avoid the stoppage of production lines or commercial penalties.
Deep dive into analysis to better manage inventories
Companies use granular analysis within the supply chain process to cut costs and identify opportunities they cannot identify otherwise with traditional analysis. This visibility, gained by aggregating data from internal and external sources, enables organizations to understand their supply chain process on different levels: within the inbound segment, the outbound segment, by suppliers, by containers, by lines, by ports, by carriers on a certain route, etc.
Challenge your current port-to-port coverage by comparing the lead time and the reliability between carrier and corridors will generate opportunities to limit in-transit stocks and related costs, and reduce your time to market.
How Wakeo can help you to reduce TCO?
By consolidating scattered data from freight forwarders, carriers, ports, and external sources, Wakeo provides access to reliable and real-time information. Also, Wakeo enriches real-time tracking with data science to provide the most accurate ETA.
Analytics features enable to customize Wakeo solution to implement relevant KPI to enrich the granular analysis and identify opportunities to reengineer transport flows.
Less hidden costs, leaner organization, lower in-transit inventories, better time to market… Dynamic ETA and visibility bring tangible impacts on TCO.
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