ThoughtLink by ThoughtDrivers

Is your data 'democratized'?

2010-03-19T10:43:00.006-04:00

Too many fleets are beholden to transaction-focused computer technology platforms and business processes. These functionally disjointed systems create barriers among departments such as finance, sales, operations and safety, and fail to provide the necessary intelligence for becoming and remaining competitive in today’s business climate.

If you're running your fleet/business on a mainframe (e.g., AS/400), you might want to consider that many of these systems were introduced in the 1980s. Even today, these systems remain relevant for recording transactions. BUT they're woefully inadequate for the nimble, speed-of-thought analysis required to compete in today's business climate

So let's say you get the 'right' tools for your organization, the next question is can the 'right' people get to, and use, the information? Only by providing broader access to data, management and staff can obtain a 360-degree view of any analysis scenario. Most effective are “data democracies” consisting of information that is separated into multidimensional views, that users can manipulate to help the company make strategic assessments and tactical decisions.

Last thing to consider is whether your doing right by your balance sheet. Are you tying up a lot of investment in people and fixed assets (e.g., servers & networks)? With today's "cloud" based options, it's irresponsible not to at least question (rationalize!) such expenditures. You should now be thinking of ROI in terms of months, not years.

Do these things right, and you can expect...

Better use of staff time.
Higher quality of information generated and used throughout the organization.
Improved ability to serve customers and grow the business.

I hope these thoughts got YOU thinking. Visit www.ThoughtDrivers.com any time for more free tips or to get help.

As always, best of luck in your business and stay tuned.

Cheers,

Sam Liberto

Chief Executive

What's your 'performance formula'?

2009-09-28T12:45:00.003-04:00

Whether you're a less-than-truckload, truckload or private fleet, you manage lots of 'moving parts.' The question is: Are you focusing on the 'right stuff?' Mastery of all functions--sales, marketing, operations, finance, etc.--would be ideal, right? But how do you decide what challenges to tackle & when? How many times do you find yourself dealing with matters simply in the order they cross your desk? We often describe this using old accounting term "LIFO," which is short for last-in, first-out? Instead of strategically prioritizing (and solving!) problems, you essentially give them equal priority. That would be OK if not for the fact that resources are scarce, making opportunity costs high. Therefore, each decision you make on what to work on is also a decision made on what you won't work on.

In our experience, the 80-20 rule truly applies. Roughly 80% of that which is critical to your bottom line is tied up in just 20% of your company's activities. This places a premium on stratifying and prioritizing your company's resources. One approach to consider is The Performance Formula. It starts with asking these key questions about your organization:

Has your executive team clearly identified the fundamental performance elements that constitute the foundation of the businesses’ success?
Has your executive team visually framed this formula and effectively communicated it in understandable terms to the company’s management?
If your executive team has identified the primary profit elements and how they work together (your performance formula), have they also targeted goals for these parts of the business and communicated them effectively?
Are you able to accurately measure how well these primary elements are working and can your executive team explain how the interrelationship of these elements affect performance?
Are regular result-management meetings held to reconcile actual performance to business goals, thus providing needed performance feedback to accountable leadership?

Any "NO" answers to these questions is a red-flag that your management team isn't focused and is very likely working sub-optimally. Many vendors, including ThoughtDrivers, offer diagnostics, workshops and technology as solutions to this problem. The important thing is to make the first move. Be proactive. Dictate your future, rather than having it dictated to you (hopefully not through acquisition, reduction or closure of your business).

If you'd like to learn more about The Performance Formula, we recommend reading Sullivan's The Formula, Building Competitive Advantage. You can also visit ThoughtDrivers.com and subscribing to our newsletter, called The Road Ahead for more on the topic.

As always, best of luck in your business and stay tuned.

Cheers,

Sam Liberto

Chief Executive

Welcome to ThoughtLink

2009-07-23T16:35:00.003-04:00

Greetings from the team at ThoughtDrivers, LLC. We are the business performance specialists for the trucking industry. We deliver proven solutions to to trucking companies that yield positive results and drive competitive advantage. Our ever-evolving portfolio of offerings includes...

CUBE-IT business intelligence platform
SafetyBox risk managment work-flow automation & compliance system
Drivers On Demand seasonal driver program
Executive Level Results c-level problem solving and coaching service

We started this blog to keep interested readers informed on these solutions, industry news, our new developments and anything else we learn along the way. More importantly, we want to hear what you think. Feel free to post your comments or contact us any time to learn more.

Best of luck in your business and stay tuned.

Cheers,

Sam Liberto

Chief Executive