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Get a Glimpse: Key Insights from the ‘Tive Food Shippers Report’

June 3, 2024

July 2, 2024

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Have you ever wondered how your favorite foods end up fresh on your table, even when they’ve traveled halfway across the country? We cover everything happening behind this in the newly-released "Food Shippers Guide to Digital Transformation.”

Investment in digital technology is shaking up the food shipping industry, and we’re happy to preview some of the critical data points and insights we've uncovered.

The Imperative of Real-Time Visibility in Supply Chain Management

Food must arrive fresh, on time, and exactly as expected—and, as revealed in the survey results, this depends on the magic of real-time data.  

Real-Time Data's Role

75% of food shippers surveyed reported that they are investing in supply chain visibility solutions. Why? Because in food shipping, timely and quality-sensitive deliveries are the name of the game. Real-time tracking helps companies dodge delays and maintain the freshness of perishable items, which consumers expect, whether waiting for ripe avocados or fresh seafood.

These investments in visibility also help food shippers seize opportunities to improve operational efficiency. Real-time data can help companies adhere to strict food safety regulations and optimize their logistics from farm to table. Doing so leads to less waste, smoother operations, and happier customers.  

Challenges Without Visibility

But what happens when shipments slip through the cracks of outdated systems? The consequences stretch far beyond mere inconvenience. A lack of visibility can lead to staggering costs for companies—think spoiled goods and missed delivery windows. Not to mention, failing to meet customers’ expectations will leave them disappointed, perhaps angry, and lead to mistrust.

At the same time, poor visibility leaves your supply chains vulnerable, a sobering fact considering cargo theft incidents surged by 63% this past year alone. Compliance issues also pile up without the ability to properly monitor and record shipments’ temperatures. Companies cannot verify proper handling and timely delivery, which can result in legal penalties, the spoilage of perishable goods, and a failure to meet strict industry standards—each of which translates to significant financial burdens.

Key Challenges Identified & Solutions Proposed

Are rising freight costs squeezing your margins and complicating your pricing strategies? You're not alone. But here's the silver lining: more companies are finding relief through technology.

Freight Cost Management

A fluctuating freight market and the rising costs of managing logistics operations are giving food shippers a real headache. In fact, 38% say it's their number one challenge right now. Yet even though it’s a growing concern that cuts into margins and complicates pricing strategies, there’s some good news. More and more companies are turning to tech solutions like shipment visibility to help manage transportation and logistics costs.

With real-time tracking and updates, businesses can efficiently coordinate deliveries and avoid extra fees from delays, detention, or demurrage—a major benefit for 63.5% of survey respondents. Visibility tools also help optimize routes, cutting down on mileage, transit time, and idle time, which 43% of respondents found really valuable. Plus, better visibility means you can manage inventory more effectively, lowering carrying costs, a benefit for 24% of respondents. And let’s not forget the labor savings—less time spent on check calls and manual tracking means lower costs for logistics personnel. All these perks add up to smoother operations and big cost savings, without sacrificing speed or service.

Theft Reduction

Cargo theft is more than just a nuisance; it's a significant drain on resources: 48% of the supply chain professionals surveyed for the State of Visibility 2024 study reported monthly losses ranging from $5,000 to $10,000 due to theft and related damages. This persistent issue not only affects the bottom line but also disrupts the flow of goods, causing headaches for businesses trying to reliably meet customer expectations.

Supply chain visibility technology is an effective tool against these losses. With clear and continuous tracking information, this technology helps establish unbroken chains of custody from when goods leave the warehouse until they reach their destination. . Shippers are able to mitigate potential theft scenarios by having continuous knowledge of the exact location of their shipments, as well as indications if an unexpected event (such as a trailer door being opened) has occurred.

Strategic Insights for Optimization & Efficiency

Let’s now tie all of this together with a few more strategic insights from the report on how vital data analytics are for supply chain optimization:

  • Leverage IoT for Enhanced Monitoring: 36.5% of shippers now use real-time IoT trackers to monitor shipment conditions, emphasizing the shift towards technology that can alert shippers immediately of temperature excursions or unauthorized access.
  • Advanced Analytics for Freight Management: With 72% of respondents focusing on transportation management systems, it illustrates how integrating advanced analytics helps optimize route and carrier performance.
  • Collaborative Platforms for Stakeholder Integration: Around 41% of food shippers invest in technologies to enhance supplier relationships and collaboration, which is essential for real-time data sharing and supply chain agility.
  • Cold Chain Management Investments: 22.5% of respondents are investing in technologies for cold chain management and highlight the importance of protecting product quality from farm to fork.
  • Investment in Compliance and Traceability Tools: With 36.5% focusing on traceability and food safety, compliance and quality assurance technologies are vital in meeting global standards and ensuring consumer safety.

Power Up Your Supply Chain with Smarter Data

Making smart, data-driven decisions is essential in food shipping; technology is key to mastering this challenge. Companies increasingly turn to tech solutions like real-time tracking systems to tackle major issues such as cost management, theft prevention, and compliance.

With such technologies solving today's problems and keeping businesses future-focused and competitive, Tive is ready to take your logistics to the next level. Imagine equipping your fleet with Tive’s Solo 5G trackers, providing real-time updates on every shipment's whereabouts and condition—eliminating worries about lost or damaged goods. With Tive's cloud platform, you can see your entire shipping operation in one place, streamlining processes and extracting valuable insights. Plus, with Tive's 24/7 Live Monitoring Team watching over your shipments, you can rest assured they will arrive safely and on schedule.

Interested in transforming your supply chain? Download the full report and book a demo to see how Tive's custom solutions can future-proof your shipping operations.

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