Supply chain visibility is, most simply, the ability to see all of the pieces, parts, and components that go into your end product from the beginning of the manufacturing process, all the way to the end consumer. But supply chain visibility is so much more than that. If you can access it, the information gleaned from your supply chain processes can be used throughout your organization to speed up production, increase quality, and cut down on costs. Unfortunately, gaining that insight is tough and without the proper tools it’s downright impossible. Supply chain software allows you not only deep insight into your supply chain, but it also gives you and your stakeholders access to real-time, actionable data on which you can support customers and make strategic decisions to strengthen the supply chain and drive business forward.
Beyond knowing where your supply chain is weak, you need to be able to make quick changes to reshape demand or redirect supply; supply chain software grants you the insight and control needed to do that. Is visibility really that important? Yes, and having a tool that not only gives you visibility but also the tools necessary to respond to situations is just as important. Not all supply chain software solutions have both though, be sure to take that into consideration as you evaluate your options. Visibility and control together will allow you to optimize your supply chain and recognize benefits such as:
• Reduction in inventory
• Increased inventory turns
• Lower carrying costs
• Increased factory throughput
• Lead time reduction
• More reliable quote processes and promise dates
• Better forecasts
• Improved response
• improved customer service
• reduced operating expenses
• faster and more accurate responses
• the ability to quickly engage the right people at the right time
• Reduced supply chain risk/costs
Supply chain software is an investment, but an investment well worth the cost when you consider the power it grants you for visibility and control which allows your team to plan, procure, and execute effectively and efficiently.