This podcast discusses how end-to-end supply chain visibility is growing in importance for building resilience. Companies have shifted their focus from efficiency to resilience ever since the COVID-19 pandemic. The importance of supply chain openness in detecting and responding to disturbances quickly can be better grasped with this information.
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Some important takeaways regarding how visibility enhances supply chain resilience:
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End-to-End transparency
Most firms are ignorant of threats beyond their immediate suppliers, with 71% of procurement professionals not knowing risks beyond Tier 2 suppliers. Mapping whole supply networks—aided by supply chain mapping software, further enables the firms to uncover vulnerabilities way upstream and allows for quicker, data-based reactions to disruptions.
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Leveraging IoT for real-time awareness
IoT sensors provide real-time data on shipments, asset conditions, and locations, offering up-to-the-minute visibility. This ongoing monitoring allows supply chain visibility that helps managers to track progress, anticipate delays, and react proactively. However, IoT implementation is required to be paired with robust cybersecurity measures due to rising cyber threats in the logistics sector.
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Collaborative data sharing
Supply chain visibility necessitates the use of technology as well as cooperation amongst partners in order to share data. By keeping everyone informed and boosting confidence, data sharing is an easier process. Working together across different networks is a breeze with standardised Internet of Things (IoT) protocols and comparable digital platforms.
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Proactive risk management
By being more transparent, companies can spot potential issues early on, which allows them to mitigate or avoid interruptions while they are still within their control. This approach is known as proactive risk management. This enhances agility and long-term risk management.
In summary, the podcast reflects on the fact that supply chain visibility is no longer optional. It is the core capability that allows companies to build resilient and flexible logistics networks. End-to-end mapping, IoT, and shared data provide companies with an understanding of potential problems so they can better manage risk and keep their supply chain ‘connected’ in the increasingly dynamic business scenario.
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Additional Resources:
For more details on Boosting Supply Chain Visibility with Resilience, check out the original article:
Boost Supply Chain Resilience With Full Visibility by Supply Chain Informs.
