Note: Today’s post is part of our “Editor’s Pick” series where we highlight recent posts published by our sponsors that provide practical knowledge and advice on timely and important supply chain and logistics topics. This post from ClearMetal’s blog discusses the top operational challenges companies face and explains how enhanced supply chain visibility can improve each one.
Supply chain visibility enables proactive decision-making and effective risk management by providing a clear, end-to-end view of the movement of inventory. Specifically, it provides the data and metrics necessary to improve and control up and downstream processes.
Over the years, many companies have invested significant amounts of money to address their visibility issues, yet most are still searching for a better option. The problem is not with the tools themselves, but the fact that they are providing information based on inaccurate and incomplete data. For true visibility, and subsequently, proactive supply chain management, accurate data is crucial.
Without addressing the underlying data problem, operational challenges around inventory, partner relationships, risk management, and cash flow are difficult to solve for. Furthermore, as a supply chain scales, the inaccurate data coming in increases exponentially, and affects all aspects with supply chain.