End-to-end visibility is possible for today’s supply chain professionals—and it requires applying the right technologies to achieve.
Global supply chains have seen their share of challenges in recent years. Port workers strikes. Severe weather. Shifting geopolitical winds. And of course, the after effects of the COVID-19 pandemic.
Amid all of these challenges, supply chain professionals contended with the everyday complexities of a complicated industry as well. The companies that were most successful in navigating hurdles were those that were efficient, resilient and agile—capabilities that hinged on two key factors: Digital Transformation and Comprehensive Visibility.
The Two Key Factors
Digital Transformation. The companies that are most successful at mitigating supply chain challenges are embracing the digital transformation of their supply chains, with artificial intelligence (AI) leading the way in how companies manage their data. We anticipate the focus on data accuracy will become even more critical in coming years as the digital transformation continues, including the rapidly developing AI space.
Comprehensive visibility. A resilient and competitive supply chain depends on knowing where goods and materials are from the time they leave the warehouse to delivery to the customers. Using a robust supply chain technology platform will foster this transparency so companies can react to changes in real time.
An Impending Revolution in Transparency
Supply chain professionals have the opportunity to leverage these trends and the technologies that make them possible, today and into the future. But having the answer to the eternal question, “Where’s my stuff?” depends not on simply throwing a software product at a problem— it takes strategic implementation with the right partners and the right technologies. Here’s what you should be thinking about:
As supply chains have experienced more frequent disruptions, demand for end-to-end visibility— from warehouse to customer— has emerged as a growing priority. And because today’s customers have come to expect their suppliers to pinpoint where their assets are at each moment throughout the shipping process, using the proper data and software to provide customers with real-time information about their shipment increases customer satisfaction.
Whether it’s enhanced RFID, ultra-wideband Bluetooth technologies, or AI software solutions, their integration into companies’ Internet of Things (IoT) platforms is no longer optional. In addition to providing vital information to customers, it allows professionals to identify potential bottlenecks before they occur and make adjustments before they affect the customer.
In the coming years, it’s likely that visibility will become the rule rather than the exception. The companies that recognize this, and take actionable steps to accomplish it, will be more effectively poised to succeed.
For Total Visibility, You Need Clean Data
Supply chain software grows more sophisticated with each passing year. Today, it can provide real-time analytics, encourage predictive modeling and automate mundane tasks like inventory management and product tracking. Tomorrow, it will be able to do even more— and it will have the power to completely transform supply chain management
But leveraging AI comes with a catch— it’s only as effective as the data from which it can glean insights. Indeed, maintaining clean, accurate databases is increasingly challenging given the increasing influx of data generated by interconnected systems and devices. And the data isn’t reliable, even the most sophisticated AI tools can generate inaccurate insights instead of actionable improvements.
For this reason, it’s important for supply chain professionals to examine data accuracy when evaluating potential software solutions. For example, transitioning to software with a 99.9% data accuracy rate will provide companies with a demonstrable competitive advantage. They won’t be spending precious time fixing mistakes that AI pulled through because the data was wrong.
Additionally, they’ll be ahead of the curve thanks to accurate data that will speed up the work and enhance their employees’ ability to work quickly and efficiently. Combining quality data with a robust AI component to filter noise and highlight actionable trends will reduce costs, enhance efficiency and improve customer satisfaction.
Standing Still Means Falling Behind
In an era of unprecedented technological evolution, supply chain professionals can’t afford to let forward-looking solutions pass them by. Because complete visibility into the entire supply chain will only become more important in the coming years.
You may find that your current supply chain tools are serving you adequately. But few things in this industry are more constant than change and unforeseen complications. In an era of increasingly powerful AI, professionals can dig deeper into larger mines of historical data to reveal new insights and empower more accurate predictive analyses.
Better forecasting means less risk of excess inventory and wasted production resources. You’ll discover a better understanding of your customers, putting you in a position to amplify the strengths of your unique value proposition, provide more precise services, and identify new business opportunities. Your team will be better informed to make important decisions and explore newly discovered possibilities.
The bottom line is that supply chain managers must become more data-driven than ever before, and ready to deploy software and hardware solutions that support that goal. Total visibility and your ability to answer that question, “Where’s my stuff?” depend on it. Those who adapt quickly and effectively will better meet today’s demands while setting themselves up for greater success tomorrow.
