Supply chain inventory visibility is the ability of supply chain platform to enable users to view inventory in real time, along with insights. The scope of supply chain inventory visibility includes both forward and backward tracing. It also includes visibility of inventory in motion or stored in warehouses. Thus, supply chain inventory visibility provides a complete view of a company’s inventory.
The company can provide this inventory visibility to various stakeholders, including the customer. Modern supply chains are incredibly complex, relying on diverse supplier /distribution networks worldwide.
Supply chain visibility (SCV) can track the following through the supply chain in real-time:
- Parts, components, and finished products from their source to the end-user
- Orders while moving through the value chain.
For example, a company can track its product from anywhere globally to its factory in any location. The company can further track the product to a distributor/retailer from its factory. Finally, customers can track the product to their door — a complex operation involving disparate partners and systems.
Thus, visibility can enhance supply chain efficiency, increase profit margins, and improve customer and supplier relationships.
Besides, business processes are also improved by flagging the inefficiencies for necessary modifications. Further integrating the different systems takes the complexity to a different level.
Visibility Solves Supply Chain Challenges
The benefits of using supply chain visibility (SCV) are as follows:
Modern supply chains are global. Any logistical disruption can damage customer relationships and reduce profit margins. SCV helps enterprises keep going through sudden disruptions and keep business as usual to best extent possible.
To sustain and grow through disruptions, enterprises with end-to-end visibility can ensure deliveries within assured timelines. Not just that, advanced platforms also enable customers to track their orders from the warehouse to their door.
SCV helps companies to adhere to the local government. regulations and avoid compliance issues altogether.
SCV helps companies identify and fix inefficiencies throughout the supply chain. Fixing inefficiencies and maintaining control over inventory management, in turn, reduces costs and increases profitability.
Today's supply chain inventory visibility software incorporates the latest AI and data science technologies. Such technologies ensure the visibility of an item at the SKU level in the supply chain.
Adopting the right supply chain visibility software per your organizational requirements is essential. The right software helps enterprises to align their expectations and reality and at the same time mitigate risks and disruptions.