Imagine Having Real-Time Visibility Across Your Entire Supply Chain
The latest study finds out that the data available today is gets doubled in every two years. All credits go to the technologies such as the Internet of Things (IoT) and social media. IoT-enabled devices are producing huge amounts of real-time data. Using this data we can create an ecosystem in which we can analyse all the operations in real-time, in which everything is transparent and available to all.
The initial step in achieving real-time visibility, you need to equip your products & assets with IoT sensors that showcase how the equipment performs in real time scenarios.
Real-time visibility involves transparency among everyone who is the part of your logistics ecosystem, which includes suppliers, manufacturers, & logistics service providers. Real-time visibility not only facilitates a great collaboration and coordination, but also allows everyone to sense, predict, & respond to uncertainties and opportunities throughout the supply chain.
By checking the real-time movement of goods, one can forecast the issues and can fix them before turning them into major problems. The ability to foretell what’s happening with the products, predict potential hindrances, minimise risk and quicken response will ultimately help in delivering better customer experiences.
Real time data access to every individual in the organisationcan improve their job performance. By tailoring the data as per their job functions, employees can plan better, increase their accuracy and help in providing better customer satisfaction.
To understand better we take a scenario, where you are a logistics service provider whose role is to ship ice cream. To do the job smoothly, you need complete information when the product will be produced and when it is available for you so that you can accurately schedule your delivery to the grocery stores. Simultaneously you also need information concerning traffic & weather to make sure the shipment can quickly reach to its destination. Apart from this you also need to take all the information regarding your transport vehicle as the product you are delivering is temperature sensitive.
Now, assume in the midway to the grocery store, the freezer in the vehicle abruptly fails. Because you have real-time data, you can spot this problem the moment it happens. And send a crew to repair the fault in the truck can continue your journey with minimum delay.
And now just imagine, what would be the case, if the freezer malfunctioned on the route and you have no information about the same? The driver deliver melted ice cream at the ice cream. Which not only make your end customer angry, but it may result in losing a valuable customer.
Creating real time visibility in the supply chain helps in maximize job performance and ensure supply chain success. Which ultimately increases customer delight and gives exceptional business results.