Extensiv has recently launched a new business intelligence tool called Labor Analytics, designed to assist third-party logistics (3PLs) providers with real-time data insights and historical trend analysis. This new tool can provide actionable insights on individual and team performance, allowing managers to understand who is performing each task and how long it takes to complete them.
According to Greg McRoberts, President and Founder of Verde Fulfillment USA, “Labor Analytics allows us to poke holes in our own efficiencies and update our standard operating procedures, to make sure everybody’s following the same SOPs, and that just makes our business more productive.”
With Labor Analytics, 3PLs can track productivity and set goals for various activities across the entire operation or focus on individual performance using real-time data from the current day with historical trends. Moreover, 3PLs can increase retention rates by incentivizing high-performance and motivating team members with a visual leaderboard that displays individual progress in real-time.
Once team performance data is gathered, 3PLs can use it to share with prospects and demonstrate optimized team performance and value. They can then use this data to generate the most accurate cost estimates, enabling tailored pricing based on similar accounts and services. By leveraging in-depth order fulfillment analyses for the current day or historical trends, 3PLs can plan for the future.
Optimizing team output allows 3PLs to grow revenue and expand their customer base without adding additional labor. Furthermore, by tracking labor efficiency by customer, worker, and warehouse, 3PLs can identify process inefficiencies or customers that may have costly products to ship.
In conclusion, Labor Analytics provides 3PLs with an opportunity to better understand their business and optimize their operations at all levels. By leveraging real-time data and historical trends, 3PLs can achieve greater productivity and profitability while retaining top talent.