288: Tomorrow's Insights Delivered Today: A Shipper's Crystal Ball

It's episode two of our brand new Sifted mini-series! Last week on episode one, we took a closer look at the Sifted Score. I was joined by Chief Experience Officer Ami to explore exactly how the Sifted Score works; how it helps to deliver categorized insights for quick actions; and how Sifted are empowering shippers to make confident and future-proof decisions. Today in episode 2, we're turning our attention to predictive modeling. I'm joined by Kevin Miller, VP of Data Insights at Sifted, to talk all about what simulation and modeling means; common misconceptions; the benefits of using simulation to make smart supply chain adjustments; and how predictive modeling has the potential to revolutionize your business's sustainability goals.   IN THIS EPISODE WE DISCUSS:   [01.36] Exactly what modeling and simulation means, and the differences between the two. "People bucket modeling and simulation together quite often, but they're quite different… most of the tools that people have can't process the amount of data that simulation takes in this industry – we call it Excel hell!" [03.27] Some of the common myths and misconceptions around simulation, and how Sifted address them with their customers. "The biggest thing people say is that they can't do an apples to apples comparison… because this industry always changes... We really try to debunk those myths." [09.09] An overview of Sifted's modeling and simulation solution, and why they call it a 'virtual sandbox.' "We've built these solutions to help our users focus on what's important to their business specifically – because it's different for everybody." [11.51] A closer look at how Sifted's modeling and simulation solution works. [15.27] Integration and connectivity, and the importance of good data. "We've had a lot of really big, enterprise level clients come back and say 'holy cow! It took us a year to get through this, and it took you two weeks – how do you do it?' Well, it's what we do every single day – we've built the infrastructure to handle it." [17.02] Kevin shares the kinds of challenges Sifted's modeling and simulation solution can help solve for clients, and how they're using the software. "It provides clarity and visibility, where previously people didn't have any." [19.17] Kevin reflects on empowering confident decisions through Sifted software, and why it's so important in a climate with a heavy focus on mitigating risk and facilitating agility and transparency. "We live in an ever changing world of transparency… so in order to succeed in this type of environment, you have to have a good grasp on the decisions that you're making, and the impact of those decisions in the future." [21.35] How modelling and simulation can help businesses to tackle key sustainability goals. [25.24] The ideal client for Sifted's modeling and simulation solution. [26.48] A case study detailing how Sifted's modeling and simulation solution helped a key client determine the most strategic location for a new warehouse, ultimately saving them over a million dollars in shipping expenses, helping them to reduce their average transit time, and reduce their carbon foot print. [29.57] Why it's so important for businesses to invest in future-proofing their business, to set themselves up for success. "In order to be sustainable, you've got to be agile and you've got to start thinking about these different scenarios now – or else you're going to be left in the dust!" RESOURCES AND LINKS MENTIONED:   Head over to Sifted's website now to find out more and discover how they could help you too. You can also connect with Sifted and keep up to date with the latest over on LinkedIn, Twitter, Facebook and YouTube, or you can connect with Kevin on LinkedIn. If you enjoyed the show, why not check out episode 286, the first show in our Tomorrow's Insights Delivered Today mini-series with Sifted. Check out our other podcasts HERE.