Renew or Replace Logistics Software? (perspective from outside the industry)
There's great value in finding ideas and solutions from other industries and applying them to logistics. This is why we'll often include articles having nothing to do with logistics in our curated weekly updates.
Here's an article I recently found with some good lessons that are as applicable to logistics as they are for any other audience.
Renew vs. Replace Software? CFO says it depends on business capabilities.
The most interesting take away from the article for me: "Finance officers are looking at more than an ROI metric and a business case to determine if software systems should be renewed or replaced. Today, they're also considering business capabilities, including the business's ability to make better decisions faster and meet customer needs. That's "a big change," Leslie Owens, executive director at the MIT Sloan Center for Information Systems Research, said at the recent MIT Sloan CFO Summit in Newton, Mass.
The reason I find the points here interesting is technology is being discussed as not just a way of automating a process to do things faster and save money. It's also not about eliminating phone calls and faxes, which seems like the primary selling point of many logistics technology solutions. The point is technology - and the discussion around how to make it work better for a business - is focused on the importance of how technology supports better decision making.
Better decision making is really at the heart of Big Data, Predictive Analytics, and AI - the popular industry buzz-words at the moment. Regardless what it's called, it's the technology that supports better decision making for shippers, carriers, and everyone involved in the supply chain that will have the most impact on the future of logistics.