Today’s businesses work all over the world. Companies need sophisticated tools to track and monitor products as they move through the supply chain. Learn more about supply chain visibility tools and solutions in this guide from Antares Vision Group and rfxcel.
Understanding Supply Chain Visibility Tools
At its core, supply chain visibility is the ability to track raw materials, individual parts, and finished products, regardless of where they are located or what phase of production they are in. Visibility and connectivity are critical in modern supply chain management, as suppliers and distributors can be located in different regions or even different countries. Businesses use supply chain planning software to monitor orders in transit, reduce lead times, and send notifications to stakeholders.
Supply chain traceability systems help companies monitor each step of product manufacturing and shipping. These tools can identify weaknesses or communication breakdowns, plan for inventory shortages and procurement needs, and resolve minor issues before they become bigger supply chain disruptions. Plus, these tools improve accountability and transparency throughout a business, including with partners. Ultimately, the goal of using these tools is to optimize operational efficiency and supply chain performance.
Benefits of Supply Chain Visibility Tools
Implementing supply chain traceability software offers many benefits:
- Monitor products: Companies have access to real-time tracking and monitoring of their inventory, orders, and shipments.
- Traceability: Individual products and shipments can be traced from start to finish, helping to ensure orders arrive on time.
- Efficiency: With real-time visibility tools, supply chain managers can improve demand forecasting, allow for better inventory management, and minimize inefficiencies.
- Better business relationships: Companies can enhance their collaboration and communication with suppliers and other providers over the long term.
- Risk management: With visibility tools, companies can identify supply chain issues and address them head-on, lowering their risk profile and improving their relationships with consumers and service providers.
Key Features of Supply Chain Visibility Software and Tools
Most supply chain management tools have a few key features in common. These include:
- Real-time supply chain visibility: Shipments can be geolocated and monitored at each stage of supply chain processes, allowing for tracking and tracing in real time.
- Inventory visibility: Companies can monitor and manage inventory levels at each business location through user-friendly dashboards.
- Data analytics and reporting: Visibility software collects and analyzes data to provide actionable, real-time insights and streamline supply chain operations. This can help improve order management and planning for replenishment as needed.
- Collaboration and communication: Visibility tools make it easier for employees across the supply chain to communicate with each other and with trading partners and other stakeholders. This helps break down departmental silos.
Implementing Supply Chain Visibility Solutions
With so many different ways to approach supply chain visibility, it can be difficult to know where to start. Be intentional in your implementation process to reduce pushback:
- Assess: Start by evaluating your supply chain requirements and current pain points. What’s working well, and what isn’t?
- Evaluate: Create a list of functionality requirements for your supply chain visibility software. Compare available tools against your set of needs to select the right supply chain visibility tool for your business.
- Implement: Integrate the tool you choose with your existing systems and data sources so you’re not reinventing the wheel.
- Train: Set aside ample time for onboarding employees who will be using the new system.
Best Practices for Utilizing Supply Chain Visibility Tools
When it comes to global supply chain visibility platforms, there’s no one-size-fits-all solution. Whether you choose a cloud-based SaaS application or an on-premise platform, there are a few best practices that can make the implementation process smoother:
- Define clear objectives and metrics for measuring success at your organization.
- Establish standardized data formats and processes across the entire supply chain.
- Encourage collaboration and information sharing among all logistics service partners and other third parties.
- Continuously monitor your tracking processes to improve data quality and workflows.
Ensuring Data Security and Privacy in Supply Chain Visibility
Although sharing real-time data with outside partners and shippers can improve supply chain efficiency and optimization, it also carries a degree of inherent risk. Ensuring data security and protecting your privacy, as well as that of your customers, is paramount.
Look for visibility software that offers high-level, customizable security settings. You should implement secure data-sharing protocols and access controls across all supplier, manufacturer, and distributor partnerships. Any third party that your business works with must know how to comply with the relevant data protection regulations for your sector, such as the European Union’s General Data Protection Regulation (GDPR).
The Future of End-to-End Supply Chain Visibility Tools
As artificial intelligence (AI) and Internet of Things (IoT) technology improve, companies will have even more granular control over the supply chain ecosystem and can incorporate automation. Predictive analytics and machine learning have the potential to help with proactive decision-making to improve demand planning and reduce transportation management challenges. Additionally, as more and more industries adopt blockchain technology, companies will be better equipped to minimize fraud and waste.
Find the Best Supply Chain Visibility Software
To stay competitive in today’s dynamic market landscape, businesses need customizable, sophisticated enterprise resource planning (ERP) tools that drive efficiency and improve customer satisfaction. Antares Vision Group provides tailored solutions to improve supply chain management, prioritizing efficiency without sacrificing quality.
Our software offers end-to-end visibility, providing traceability at each step with an eye toward sustainability. We even offer blockchain-based supply chain traceability solutions. Our solutions work with pharmaceutical, food, beverage, and consumer goods companies all over the world. For more information about our supply chain visibility platform, contact rfxcel today.
