IMPROVE SUPPLY CHAIN VISIBILITY USING THESE 5 EASY STEPS
Supply chain visibility (SCV) is the ability of parts, components, or products in transit to be tracked from the manufacturer to their final destination. SCV is fueled by data that drives informed decision making.
Big Data Analytics reveals:
- 97% of shippers agree that improved, data-driven decision-making is essential to future success
- 22% of shippers are currently planning big data initiatives for supply chain
- 31% of shippers are not familiar with big data and associated opportunities
Visibility is most important for:
- Supplier Inventory
- Location of Goods
- Lead Time
- Shipment Notifications
- Customer Satisfaction
Lack of Supply Chain Visibility leads to Consequences:
- Cannot proactively manage customer service issues
- Unable to respond quickly to revenue opportunities
- Additional costs (higher inventory, unplanned OT)
- Lack of understanding and information
Here Are Five Tips To Skyrocket Your Supply Chain Visibility
1. Identify Pain Points
- Conduct a deep dive internal assessment to understand gaps with internal processes and vendor relationships.
- Utilize technology to help address these issues, such as improving inventory management
2. Definition of Goals and Expectations
- Ask these critical questions of your teams:
- What Supply Chain Visibility benefits can we capitalize on?
- Does increased speed to market take greater priority over risk management?
- What are our customers’ goals and how can we help them achieve them?
- Capture these learnings and act on them via internal next steps
3. Build a Network
- Build trust and grow your collaboration efforts within your group of vendors. Establish a “win-win” mentality to increase supply chain visibility
4. Invest in Good Technology
- Assess any technologies that may help streamline processes and deliver results (including establishing and meeting deadlines)
- Audit your existing systems. Are there upgrades or add-ons available that would help you?
- Automate work processes where possible. Apply track and trace systems, RFID technology or smart sensors to boost efficiency, reduce wasted time and increase visibility across your supply network.
- Don’t try to do it all at once. Pinpoint your organization’s needs, your customers’ needs and your partners’ needs, and then determine what your resources will allow.
5. Measure Results and Look For Ways To Improve
- Establish KPIs and hold yourself and key 3PL west coast partners accountable for achieving them
- Never settle
- Revisit your plans and assess how these Supply Chain Visibility improvements are performing and adjust where necessary
At Westhub Logistics we practice a client-first approach. We stand out with an unprecedented standard for personalized 3PL services. Our first goal is to listen to your needs and provide you with unique solutions. WHL can work with you to create a customized FBA plan, and you won’t have to pay for unnecessary services. If you are seeking logistics support, we’d love to hear from you, our team is ready to help. Give us a call today 408-585-9346 or send us an email at email@example.com