UPS launches digital fulfilment platform, Ware2Go
UPS has launched Ware2Go, a new technology company and digital platform that matches available warehouse space and fulfilment services with merchants who need to get online orders to customers.
In a press statement, UPS said the new business augments the company’s suite of custom e-commerce solutions designed to support small and medium-sized companies.
“Ware2Go uses innovative online technology to match excess warehouse and fulfilment capacity with merchant demand to provide transparent inventory, order fulfilment and final delivery,” said Scott Price, Chief Transformation and Strategy Officer.
“We’re solving for two major problems: speed to market and efficient warehousing.”
Ware2Go recruits and certifies warehouses in strategic locations, establishing a network of vetted fulfillment partners.
Merchants can then position products closer to their customers without the need for researching or vetting providers, or making long-term volume and time commitments.
Its cloud-based platform and solution provides merchants with seamless end-to-end order fulfillment – storage, pick/pack fulfillment and shipping – with guaranteed two-day delivery by UPS.
According to industry reports, the demand for warehouse space has outpaced new supply since the end of the recession. Rising rental rates coupled with e-commerce growth have shifted warehousing from large centralised sites to localised facilities across major markets.
When a warehouse registers with Ware2Go, the platform matches unused capacity and capabilities with merchants. Ware2Go identifies merchants looking for fulfillment services and then on-boards, manages and bills customers so warehouse operators can fill available capacity quickly and easily without sales teams or administrative oversight.
Warehouses can expand their customer network with a simplified management platform that provides visibility and invoicing.
“The flexibility Ware2Go offers merchants and warehouse operators, especially companies in the industrial, automotive and tech sectors, means they can compete more effectively and profitably in the market,” said Price.
“Ware2Go leverages the scope and scale of UPS’s network to provide an integrated delivery solution to improve management of the order-to-delivery experience.”
5 Minutes With: Jim Bureau, CEO Jaggaer
What is data analytics, and why is it important for organisations to utilise?
Data analytics is the process of collecting, cleansing, transforming and analysing an organisation’s information to identify trends and extract meaningful insights to solve problems.
The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions. Spend analysis and other advanced statistical analyses eliminate the guesswork and reactivity common with spreadsheets and other manual approaches and drive greater efficiency and value.
As procurement continues to play a central role in organisational success, adopting analytics is critical for improving operations, meeting and achieving key performance indicators, reducing staff burnout, gaining valuable market intelligence and protecting the bottom line.
How can organisations use procurement analytics to benefit their operations?
Teams can leverage data analytics to tangibly improve performance across all procurement activities - identifying new savings opportunities, getting a consolidated view of spend, understanding the right time for contract re-negotiations, and which suppliers to tap when prioritising and segmenting suppliers, assessing and addressing supply chain risk and more.
Procurement can ultimately create a more comprehensive sourcing process that invites more suppliers to the table and gets even more granular about cost drivers and other criteria.
"The main benefit for procurement teams that adopt analytics is that they’re equipped to make faster, more proactive and effective decisions"
Procurement analytics can provide critical insight for spend management, category management, supplier contracts and negotiations, strategic sourcing, spend forecasting and more. Unilever, for example, used actionable insight from spend analysis to optimise spending, sourcing, and contract negotiations for an especially unpredictable industry such as transport and logistics.
Whether a team needs to figure out ways to retain cash, further diversify its supply base, or deliver value on sustainability, innovation or diversity initiatives, analytics can help procurement deliver on organisational needs.
How is data analytics used in supply chain and procurement?
Data analytics encompasses descriptive, diagnostic, predictive and prescriptive data.
Descriptive shows what’s happened in the past, while diagnostic analytics surface answers to ‘why’ those previous events happened.
This clear view into procurement operations and trends lays the groundwork for predictive analytics, which forecasts future events, and prescriptive analytics, which recommends the best actions for teams to take based on those predictions.
Teams can leverage all four types of analytics to gain visibility across the supply chain and identify optimisation and value generating opportunities.
Take on-time delivery (OTD) as an example. Predictive analytics are identifying the probability of whether an order will be delivered on time even before its placed, based on previous events. Combined with recommendation engines that suggest improvement actions, the analytics enable teams to proactively mitigate risk of late deliveries, such as through spreading an order over a second or third source of supply.
Advanced analytics is a research and development focus for JAGGAER, and we expect procurement’s ability to leverage AI to become even stronger and more impactful.