Management reporting and performance control in a Logistic company
Logistics reports typically include information about the company’s products, services, and transportation methods. This set of statements can also include information about the company’s market share and competitors. The four key processes of logistics operation are transportation, distribution planning, inventory and warehousing, and order processing.
Integrated Logistics Management Reports
Logistics management reports can help provide valuable insights into the operations and performance of your network. These reports can include market supply reports, freight reports, and more. Below are some examples:
Market Supply Reports: This report provides detailed information on the market supply of a particular product or service. This information can include local and international suppliers, production quantities, and pricing information.
Freight Reports: This report provides information on the quantity and value of freight transported through your network. This information can help you optimize your logistics network and ensure that you are getting the most cost-effective transportation options.
Process Flow Maps: This report provides a visual representation of the process that your logistics network follows. This information can help you track the flow of products and materials through your network, and identify potential bottlenecks.
Logistics Key Performance Indicators and Metrics
The logistics industry employs people and equipment to get goods from source to customer. To make sure that goods are delivered on time, organizations need to establish and track performance metrics. Some common time performance metrics used in the logistics sector include:
- Inventory turn: The number of times an organization’s inventory has been turned over in a given time frame.
- Production value: The total value of products or services produced in a given time frame.
- Cost per unit: The cost of producing one unit in a given time frame.
- Average Delivery Time: This metric measures the amount of time it takes for a shipment to arrive at its destination.
- Weight Accumulated: This metric measures the total weight of a shipment as it moves through different stages of the supply chain.
- Inbound/Outbound Stock: This metric measures the number of items that have been received into or sent out of a warehouse.
There are a number of factors to consider when setting logistics KPIs. These include the type of product being shipped, the delivery environment, and the geographical location of the warehouse. Every company has different performance metrics they focus on. But, there are some key performance indicators (KPIs) that are essential for logistics managers.
Order Accuracy
In order to manage and optimize the accuracy of supply chains and achieve promised deadlines, organizations require accurate, real-time information on logistics activities. To help you achieve accurate logistics performance, we offer a few recommendations:
1. Verify Order Accuracy
Order accuracy can be accurately measured by comparing the number of orders received to the number of orders expected. This metric can be used to identify potential issues with order processing, shipping, or warehousing.
2. Tracking and Evaluating Shipping and Warehouse Operations
Shipping and warehouse operations can also be monitored and evaluated using order accuracy metrics. For example, the percentage of orders received damaged can be used to identify potential issues with order processing. Additionally, the number of orders that are delivered on
Delivery Time
How to Write an Effective Delivery Time Logistics KPIs
Delivery time logistics (DTL) is the process of identifying how long it takes to deliver a product or service to a customer. Many businesses use KPIs to measure their delivery performance, and there are a number of different types of KPIs to choose from. Delivery time performance (DTP) is one type of KPI that can measure the following:
- Overall time to complete a complex order
- Time to process an order
- Time to ship an order
The three most important factors that affect DTP are order volume, order mix, and order complexity. Each business has different parameters that must be considered when setting DTP metrics.
Equipment utilization rate
When properly utilized, equipment can significantly reduce costs and improve efficiencies. However, in order to maximize the efficiency of the equipment, managers need accurate information on how much each piece of equipment is being used.
A kpi (key performance indicator) is a common way to measure the efficiency of equipment. Manufacturers and retailers use these metrics to help make informed decisions on equipment purchases and improvements. When properly utilized, a kpi can help improve the time performance of a business.
Warehousing Costs
Warehousing costs are one of the most important considerations when planning a logistics operation. Knowing the time required to complete a given task, or “kpi,” is a key factor in determining the budget necessary to run a warehouse.
There are many potential factors that can affect time, such as variability in product quality or inventory levels. The following are three examples of how kpi can affect warehousing costs:
- When products arrive unpredictably, the warehouse needs to spend more time checking and verifying inventory.
- If products take longer to reach their destination due to a congested shipping lane, the warehouse needs to spend extra time loading and unloading the trucks.
- If products require extra pre-loading or unpacking, the warehouse will need to spend more time performing those tasks.
In order to optimize warehouse operations, it is important to understand the time required to complete a given task. By tracking time, managers can make rational decisions about how to allocate resources and maximize efficiency.
Number of Shipments
There is no one-size-fits-all answer to the question of how many shipments logistics KPIs you should use, as the time and performance required for different types of shipments will vary. However, some commonly used shipment logistics KPIs include shipment count, delivery time, and shipment cost.
When determining the right number of shipments to use, it is important to consider your company’s specific needs and requirements. For example, if your company predominantly ships small items, you may not need to track delivery time or shipment cost as closely. Conversely, if your company specializes in shipping large items and needs to track shipping time and cost closely, you will likely need to measure both.
One important consideration when measuring shipment logistics KPIs is how frequently you expect to make updates to your data. For example, if you plan to make updates daily, you will need to track more than one shipment logistics KPI. If updates are made less frequently, you can track fewer shipment logistics KPIs.
Ultimately, the number of shipment logistics KPIs you use depends on your company’s specific needs and requirements.
Inventory turnover
One way to measure your organization’s inventory turnover time is to calculate your “inventory turnover rate”. Calculating your KPI can help your organization identify areas where it can improve its inventory turnover time. For example, if your KPI is lower than average, it may indicate that your organization can improve its inventory turnover time through process improvements.
Logistics BI & Analytics
Logistics analytics is a critical function within the freight industry, which is why there is a growing need for reliable reports. These reports can help shippers and freight forwarders make informed decisions about their operations, identify potential problems early on, and optimize their strategies accordingly.
By understanding your customer and the demand for your product or service, you can optimize your supply chain to meet customer needs. By tracking key performance indicators (KPIs), you can monitor your progress and make necessary adjustments. Data analysis can identify areas where you need to improve, so you can continue to deliver value to your customers. Finoko reporting system can fully support your company in data acquisition and consolidation from different software solutions into one reporting system. Working in a number of countries may require opening legal entities that conduct accounting according to national systems and using different languages. One of the key features of Finoko is the ability to transform accounting data to a company of global standards and to translate financial reports into any of the supported languages.
