This year 2016, many supply chain trends are upcoming to help organizations around the world optimize their logistics operations. These include the Internet of Things, supply chain end-to-end visibility, demand purpose-built applications and collaboration. Supply chain visibility is hardly a new topic, but end-to-end supply chain visibility provides higher fulfillment rates, customer service levels, profitability, operational efficiency and revenue growth than the former. Supply chain end-to-end visibility plays an important role in the success of a market-driven enterprise. Leading process industry companies should implement collaboration and visibility solutions to gain this. By collaborating with their trading partners through supply chain networks, they will be able to gain significant benefits, such as reduced variability in lead times, better on-time performance, and increased working capital. With supply chain end-to-end visibility, your business will be able to respond quickly to demand changes, engage disruption, and beat your competition. So, how do you enable end-to-end visibility across your enterprise?
- Collaborative Network Sense and respond are critical in supply chain visibility. They can only be achieved if you hire a collaborative network.
- Advanced Analytics Why do you need to combine collaborative network with advanced analytics? Keep in mind that visibility does not only involve sensing data. It also involves analysis of those data. Thus, you need prescriptive and predictive analytics to take the appropriate actions to support your visibility goals.
- Look Beyond the Four Walls of your Enterprise To take full advantage of supply chain end-to-end visibility, eliminate silos within your organization. Focus on your customers and trading partners instead of looking internally.
- Cloud-based Solutions Use cloud-based processes within your information architecture to make it easier for you to connect among your trading partners.
Gartner has estimated quantitative benefits of end-to-end supply chain visibility. Gaining end-to-end visibility can increase inventory savings, forecast accuracy, and SLAs. It can also reduce freight charges, inventory on stock and workforce. Moreover, it makes ROI calculation possible in only one year, plus interest. With all these amazing benefits, it is a loss for your business not to enable end-to-end supply chain visibility. Sign up for our weekly blog summary and newsletter!