Customers demand real-time updates such as the exact location and exact time of arrival (ETA) of an ordered item. Transparency in the supply chain is important to avoid negative feedback from disappointed customers. Businesses recognize the necessity to have visible information in real-time to track goods and products in transit.
This makes real time supply chain visibility essential in business operations. What do businesses gain when all components in the supply chain can share information in real time? Here’s what you need to know about real-time visibility in supply chains including its 5 key benefits.
What is Real-Time Visibility in Supply Chain?
Real-time visibility in supply chains refers to the logistic activities that trace, in real-time, the transfer of goods and packages starting from the suppliers, manufacturers, warehouses, and hubs until they reach the customer. Through the use of technology such as GPS-tracking and sophisticated software, businesses can plan, schedule, and monitor all their logistics processes.
5 Benefits of Real-time Visibility in Supply Chain
1. It Improves Decision Making.
Effective decision-making is essential in any business. Better decisions are made when there is visibility in the supply chain. There is accurate information when there is real time supply chain visibility. There is clarity on what is working or not and changes can be implemented accordingly. This leads to efficiency and lesser errors which can have a positive effect on any business.
2. It is Cost-Effective.
Real-time awareness of the location of the order throughout the transit stage can reduce costs. Businesses can deal with risks and inconsistencies promptly if there is accurate data on routes, inventory, and land logistic issues at various points. This leads to productivity and a high return on investment eventually. In other words, real time supply chain visibility removes impractical route diversions and vehicle idling. It ensures that all deliveries are properly executed by using optimized routes that lessen the miles traveled. All these can minimize the costs of transportation activities.
3. It Improves Customer Service.
Customer service has a crucial role in the success of any business. Customers expect faster and better delivery services. They want their orders to be delivered in a shorter period and without any delays or mistakes. Real time supply chain visibility enables any business to provide its customers with updates on the delivery status of their orders. Businesses can also quickly deal with any issues that might arise. This results in quicker response times and more satisfied customers.
4. It Reduces Risks.
Real time supply chain visibility helps to identify and manage risks. Possible issues can be quickly addressed with corrective measures before it turns into a problem when all sides of the supply chain are seen. It is easier to deal with risks during the early stages. Alleviating all risks at the right time can lead to more transparency, higher productivity, high profits, and enhanced reliability.
5. It Offers Data-Driven Results.
Access to large data is possible if there is visibility in all phases of the supply chain. Data-driven decision-making is based on analytics and collaboration. Real time supply chain visibility permits the leverage of data and insights to make better decisions for a business.
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Real-time supply chain visibility benefits customers and businesses at the same time. Aside from allowing customer-transparency, it can lead to a stronger and more active supply chain in any business. It helps resolve errors promptly, reduces risks, and offers cost-effective benefits Real time supply chain visibility gives businesses a competitive advantage when it is properly managed and implemented.
Worklink Services, Inc. (WSI) has successfully established itself as a trusted logistics company in the Philippines since 1999. WSI offers a variety of logistical solutions and support services including the distribution of merchandising materials, premiums, and other collaterals, as well as drop box management for the smooth implementation of your projects. WSI puts a premium on the fast and efficient delivery of products and operates in all key areas of the Philippines.
Want to work with a logistics company that can help optimize your supply chain processes? At Worklink, clients are treated as business partners. We are dedicated to providing logistics management services that facilitate business continuity and smooth business operations.