Consumers or end-users always demand real-time visibility. It is like when you are purchasing something over the internet, and you want to track the item you purchased so that you will have peace of mind.
The most prominent point is not only how fast the goods are delivered, but also how transparent the information that businesses can provide to their customers.
With such huge demand from customers alike, it has challenged businesses to look for rooms for improvement, especially in how they deliver goods and services.
We managed to reserve the insights from one of the best supply chain visibility software companies, Agistix, and we’d like to share our findings in the form of tips that you could consider to help you achieve visibility as well.
These are the keys to making a more efficient supply chain.
It is not exaggerating to say that each industry has a different understanding of visibility. It is also possible that each client demands different visibility compared to the others.
A business could fetch information about what kind of experience they want their clients to have. If you are running a business, what are you trying to achieve from the improved visibility of the supply chain?
SCV must be understood as an end-to-end network from the raw materials to the deliverances. In this case, the business should be aware of the potential brand awareness and loyalty improvements of the customers.
The good results of the supply chain will also help the organization to thrive in the global market. Hearing the customers’ feedback is very important to help you identify the underlying problems in your business. It is great to know that the problems are still manageable, since it will be much easier to handle the demands.
Besides looking at the client’s point of view, you’d also want to take a look at the insights of your in-house team as well. How does the improved visibility support your teammates’ efforts? And how does it work in connection with fullfilling customer expectations and requirements?
Besides figuring out visibility for your company, you must also find out the meaning of visibility from your customer’s point of view.
Choose a connectivity platform
The key to effective and agile supply chain visibility is connectivity between the key players in the project. If the connection is tampered with, the quality will also be defected. It is important to connect key players more effectively.
Therefore, it is crucial to ensure that the platform you are using is feasible for all of the involved parties. The choice of the platform for connectivity can make or break the entire operation. It is highly important to be meticulous when choosing it.
Working with the right people
Recruiting the right people is very important in managing the visibility of the data. For this particular category, not only the set of skills, but it is also crucial to work with people who have extensive experience in the particular niche.
With the two factors above, it can ensure the right track in maximizing the tech capabilities for ROI or other specific goals.
In some cases, businesses can also take an aggressive approach to reconfigure the market location to attract the right talents to work with them. You could also adopt this movement if you are considering bolder strategies.
Partnerships have become more crucial than ever. The right vendors and partners will provide the best value for the money. Most businesses will hope for particular efficiencies like volume discounts, open book pricing, and many more. But more importantly, the right partners will exponentially improve supply chain visibility.
SCV relies much on strong partnerships. The reason is simple. We have mentioned that people are involved in the logistics. If your business is handled by the wrong people, then visibility will be hard to achieve.
When it comes to the people who work for the particular business, it is also important to comprehend getting a good sponsor, project manager, as well as successful managers.
Having a clear data strategy
The raw data is useless and meaningless for people until it is translated into meaningful information. To achieve such a process, one will need to have a clear data strategy.
It can be challenging to decide on a particular strategy, but there is an effective way to do it with a high success rate. You must determine how the data will be used. That is another key success of the true SCV.
The right data capture will provide more insights in which you can use to increase sales, forecast demands, comprehend market movements, and make other significant improvements to your company. Only benefits will come if you work with data that you can trust.
Trust the data
Trusting the data is very important to improve the quality of SCV in your organization.
Since you are working with multiple partners, you must make sure that the information transferred between you and them can be trusted. Find the best ways to verify information accuracy, security, and responsibility.
Interpret and leverage figures.
It is not wrong to keep exploring to find out the rooms for improvement. Ones won’t be able to find out the solutions until they find out the underlying problems and their causes. The data allows you to mitigate the risks and prevent something bad from happening in the future.
As a result, there is no need to deal with the problem or waste your money on it while keeping your business running and making your clients satisfied.
Promote rational decision-making.
After you’ve discovered areas for improvement, you’ll need to address them. Now that you know where everything is in your supply chain, you can put solutions in place.
The ability to smoothly shift from facts to suitable action is dependent on insight. We now have analytics, whereas Greek generals depended on Tiresias, the blind prophet of the underworld, for direction.
Regardless of the number of reports you have, allocating enough quality time to analyse all SKUs, producing relevant insights, and taking necessary action will be tough (or perhaps because of it). Business insights should be accessible in the form of an exception list with expected outcomes for each activity.
Emphasize the need for real-time transparency.
Data transmission volume and frequency are rising at an alarming rate. It is critical that this information be available in real time. Understanding what data is most essential for solving significant business challenges, what it means, and what to do when exceptions arise are the key enablers.