In a recent survey conducted by Peerless Media and sponsored by Ryder, more than 150 of the top supply chain executives in the U.S. stated increased consumer satisfaction, on-time fulfillment, and end-to-end visibility of their supply chain are the top challenges that face their operations.
However, to be able to meet the demands of consumers and increase on-time fulfillment they know they need to address the visibility in their supply chain first. To thrive at this, companies must excel with every fundamental detail of the supply chain while realizing that they need to be precise in the execution.
Supply chain visibility is the key enabler to identify, capture, share, and predict events and transactions – giving managers a playbook to manage from. It is crucial for all stakeholders to know where things are coming from, where they are at specific times, and where they are going.
However, visibility is not effective unless you can drive down to very specific detailed data needed to make decisions, such as load specific details at SKU level.
To improve the visibility inside the supply chain, companies must first find where the blind spots are. The survey found 43 percent of executives want to implement or upgrade their supply chain software applications. Thirty-four percent are looking to re-engineer their fulfillment operation. Both are integral to improving visibility.
In addressing the challenge to gain better end-to-end visibility in their supply chain, companies are partnering with experienced third-party logistics providers (3PLs). Through supply chain transformation and the implementation of new processes, companies are fulfilling orders on-time and meeting customer expectations through improved end-to-end visibility.
A trusted and experienced 3PL can implement a system that executes the five vital steps that lead to greater visibility:
- Capture – Use advanced technology to gain visibility across the supply chain
- Analyze – Evaluate where branded and private label products come from
- Design – Set up routes, material flow, and logistics networks to accommodate varying requirements
- Sense – Use advanced analytics, processes, and planning technology
- Structure – Develop structured playbooks or scenarios to know how to comply with rules, regulations, exceptions and practices.
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