Supply chain visibility (SCV) allows products to be tracked at every point from the manufacturer to the destination. By offering supply chain visibility, intesup is helping businesses achieve complete transparency for data. This data, in the form of tracking information, is readily available to everyone involved in the lifecycle of the product. Typically this includes the end-user or the customer. While supply chain visibility is highly advantageous, many businesses do not understand the benefits afforded through SCV.
Waiting until a concern has developed into a full-blown crisis is the worst-case scenario. But how can you mitigate an issue sooner rather than later? This is where supply chain visibility hails as the hero. Start by searching for potential risks involved at every stage in the supply chain.
Brainstorm for theoretical conditions that could lead to costly challenges. Did the location of the factory for production experience severe storms that could jeopardize the company’s ability to manufacture the product in a timely manner? Has the supplier of one of the key materials been out of service due to equipment malfunctions?
Supply chain visibility serves as a way to identify the potential for risks. This provides you with ample opportunity to mitigate the circumstances and overcome the challenges. Be prepared to manage these risks and have a backup plan accordingly.
An inventory is a fickle friend. On the one side you want to maintain a solid inventory. This ensures you have ample product ready for distribution and fulfillment at a moment’s notice. It also helps your company to weather the market in case supplies or production costs suddenly skyrocket.
On the other side of the spectrum, too much inventory is a major risk factor. You could tie up a substantial amount of money in an oversized inventory, only to see it lose value. You are also responsible for finding warehouse storage as you amass an inventory. In addition, you need to have tracking solutions in place for managing this vast amount of product.
How do you know when you need to increase or decrease your inventory? This is where supply chain visibility adds value to your business. When you can identify every factor along your supply chain, you have the facts and figures necessary to make smarter production decisions. You can take these stats and analyze the information as part of big data to identify weak links in your inventory. Most importantly, your company can save money by streamlining the size of your inventory to the most profitable size.
Choose Tech Solutions for Supply Chain Visibility
Whether you are concerned with risk management or inventory control, intesup has a solution that will help you with supply chain visibility. Intesup offers a full-service, cloud-based platform that provides technology for visualizing every step of the supply chain. This total visibility grants you the tools and insight needed to create a stable supply chain driven by the demand of the market. The intesup app allows you to monitor your supply chain on the go for complete control and visibility.