The supply chain logistics industry encompasses a vast array of companies in its effort to get a product from the very first upstream supplier all the way to a consumer’s home. These days this process can not only be a domestic endeavor, but often a global one, with organizations worldwide collaborating on a single product. With all of the various sectors of each company that have a hand in production and transportation, it is no wonder that issues arise resulting in profit and product loss. The way to minimize these serious problems is through end-to-end visibility. According to Gartner, an industry advisor on technological advancements, this tool helps companies increase inventory savings, reduce workforce, increase product forecast accuracy, decrease stock inventory, along with other sizeable benefits.
The Importance
With supply chain visibility, it is easy for companies to monitor product movement across logistic points as materials move from supplier locations to destination spots along a supply chain. They can see exactly where inventory is, plus information on product amounts, at all times via tracking systems. This is important for things such as checking on perishable items, adjusting order sizes, identifying quality problems as they arise, and much more. Companies that employ this strategy end up with higher profits, improved customer satisfaction, lower operational costs, etc.
Implementation
Most companies use a network system that enables them to easily track shipments of products, wherever they are in the supply chain. Logistics systems work most efficiently for companies when they move material from the very first upstream supplier, all the way to the end customer, in the smoothest and most seamless way. This way there are no products that end up being unusable – the supply is exactly equal to the demand. Even if this particular situation is an ideal, and not specifically attainable, companies can and should work to get as close to this as possible. The way to achieve this is through end-to-end supply chain visibility.
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