Supply Chain Management and demand patterns are changing quite fast. These shifts are challenging traditional models, but at the same time, are opening the gate for developing services and technologies to support chain solutions through Data and Visibility.
Customers demand greater availability for placing orders in different channels, better prices and delivery services. Therefore, retailers must develop their Supply Chains (SCs) to meet such ever-changing demands and avoid the risk of losing the customer. These solutions could be:
- By expanding e-commerce.
- To make large-scale shifts in distribution flow.
- Make use of smart tactic and Logistics to fulfil unpredictable demands.
- Supply Chain complexities managed through the IoT.
- Data integration to reinforce decision-making systems.
Companies should embark on a comprehensive data integration supported by suitable technology, vision and capabilities, to make SC more visible, transparent and traceable, skills which lead to success.
Visibility means a big challenge, especially for large corporations, because changing silo-business processes, systems, objectives, and strategies could be costly not just financially but also regarding time and resources. Visibility brings significant gains through a centralised decision-support framework that allows the implementation of a long-term plan; it needs to incorporate different categories of Analytics towards SC planning and further useful information to anticipate and react rapidly to unexpected changes, assess the impact of these changes, and to better manage risk.
It is crucial to integrate a cross-functional business and an IT supporting central team who understands the value of proving Visibility to drive success. So, to highlight the knowledge management needed to pursue our goals, go for a framework of three principles: people, process and technology; enterprises need to provide their teams with suitable tools, training programs and career path plan to warranty their loyalty, and full engagement in new initiatives to embark on the transformation in which your enterprise is involved. By all means, a knowledgeable-management strategy in place stands for long-lasting workforce relationship.
Concerning technology, organisations must turn the information and insights generated by existing software into a meaningful analysis through digital-automated processes flowing evenly throughout the organisation. Your SC demands innovative solutions like the Industrial Internet of Things (IIot) technology, making it necessary that businesses’ primary technology investment must be applied to Third Party Logistics (3PL,) Warehouse Management systems, functionality and new applications such as an Online schedule appointment. Optimising fulfilment capabilities and driving efficiencies through technology provides real-time data from your smart devices.
Labelling System to gain visibility, volume and velocity
Organisations, shipping goods around the world along with increasing volume and velocity, can only operate at their highest productivity if they never lose sight of the items. Leveraging speed and traceability is one of the concerns to modern Retail manufacturing and Logistics sectors are facing to help businesses embrace the Visibility they are pondering. When an enterprise labelling system extends to all stages of the SC, there's no need for re-label shipments, and there's less risk of items turning out to be misplaced. The force for more responsive supply chains is the constant feed of data from these labels.
Exchanging data through automated systems
The rise of customer-centric demand SC makes all stakeholder in the business to transfer data via automated-digital systems to come up with an accurate picture of consumer´s demand; that is why there's an urgent need for replacing legacy systems for consistent digitally-transmitted data to all SC partners. Truthful insights have positive effects at every level, such as greater ability to keep up with smooth communication among suppliers and manufacturers, and a greater ability to maintain a suitable volume of inventory.
Running a demand-based SC model requires automated information from many sources all the way to the point of sale, alongside with the ability for different levels within the organisations to interconnect; an indispensable prerequisite for a modern Supply Chain operation.
What we can find in this model to guarantee strong steps on the road to modernisation is, that there is a two-sided communication, the technical ability to collect the data, and the willingness to share it between partners.
Three capabilities to develop for a better successful approach:
· Efficiency and Transparency - On-time delivery, e-commerce solutions, shorter-cycle time to cope with demands, a system in place to provide transparency.
· Decrease risk though Visibility and traceability to identify quickly potential hazard in your supplier network.
· Reduce cost - SC Visibility provides real-time data to trace your product, from inventory to transportation, in addition to giving solutions that reflect a Return of Investment (RoI) in a year.
CONCLUSIONS: Supply Chain Visibility is quickly turning out to be a must-have capability for large-global businesses to efficiently operate in a rapidly changing industry to provide SCs with smarter inventory management solutions. These shifting technologies empower Supply Chain professionals because it is precisely their area of expertise; Third Party Logistics (3PL) and Visibility in our cross-functional teams share real-time Data and insights to give customers many options and benefits around their demand for transparency and Visibility through all the stages of the Supply Chain. No doubt Visibility and Data count, and count a lot!
Dave Food
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