SiteTrax shares future-shaping takeaways from the 2023 TPMTech Conference.
The SiteTrax™ team attended this year’s TPMTech Conference in California. TPMTech, organized by The Journal of Commerce within S&P Global, is a premier event that brings together transportation and logistics innovators, industry leaders, and technology experts. Following the two-day event, the SiteTrax team identified the following key takeaways that have the industry’s attention.
One topic that dominated the conversations this year was the visibility crisis.
Experts pointed out that there is a lack of visibility due to inferior quality data generated by various stakeholders in the supply chain.
“Starting with good data allows you to gain proper visibility. Starting with faulty data will get you nowhere.”
In order to ensure accurate and timely data collection, they emphasized the significance of data gathering and generators, such as tools like SiteTrax.
But collecting data alone is not enough. The next crucial step is aggregating and consolidating the data from multiple sources into a single, coherent picture. Only then can organizations gain a holistic view of their operations and identify areas for improvement.
The real value of this data, however, lies in the insights it provides. By analyzing the data, companies can uncover patterns and trends that would otherwise go unnoticed. This information can then be used to make data-driven decisions that will enhance efficiency, reduce costs, and improve customer service.
What’s Your Digital Transformation Strategy?
Another key takeaway is the fact that regardless of a company’s size, most brands now have a digital transformation strategy.
According to an extensive survey done by 451 Research, and shared at the conference, the single most important driver of digital transformation is to improve the quality of products and services.
Speakers emphasized how this transformation offers improved operations, product service and quality, new revenue, and sustainability benefits. Digital tracking solutions like SiteTrax, provide real-time asset insights, allowing for optimized utilization, reduced downtime, and improved maintenance scheduling. This enhances customer service, increases efficiency, and improves product quality.
Additionally, digitization supports sustainability efforts by reducing waste and energy consumption, ultimately lowering the carbon footprint. Long-term, the digital transformation of asset tracking offers companies a competitive edge while contributing to a more sustainable future.
The observations of the SiteTrax team align with the industry’s overall narrative, wherein companies are adapting to the current business environment and looking to the future by prioritizing the customer experience and leveraging technology to enhance growth and development, regardless of their size.
In conjunction with TPMTech, Chris Machut, CEO of Netarus, LLC, chaired the first TPMTech DevCon, which focused on innovations and partnerships to propel the industry forward. The event was an engaging forum that brought together tech leaders for collaborative breakout sessions. To learn more about DevCon, click here.