The future of supply chains is now.
The gold standard for supply chain management going forward is about using actionable data provided by technology to mitigate risk and use unprecedented levels of visibility to identify new trends. We all know that being proactive is better than being reactive, but companies need to start taking steps to go beyond proactivity and bring greater transparency and oversight into their supply chains.
Basic visibility isn’t enough – you need to be eagle eyed
It’s easy to say that your organization is collecting data every day to ensure that your supply chain is operating efficiently. While data is collected at a wide range of touchpoints to ensure that operations run smoothly and contribute to supply chain success, the question you should be asking is where does that data ultimately go? Often organizations fail to follow through on their vast data collection efforts due to siloing, resulting in critical information being overlooked or just not accessible at all. This shines especially true in multi-modal supply chains where goods in transit can be difficult to keep consistent track of as they switch from one mode of transportation to another.
What is necessary for companies is a comprehensive visibility solution that allows them to fully track their cargo from origin to destination. Consistently being able to manage logistics on cargo to deliver ETAs and constant, proactive management removes most of the uncertainty of the supply chain and gives logistics professionals the tools they need to make clear-headed decisions.
Comprehensive visibility isn’t only about tracking, it’s about proactively managing risk. McKinsey describes two main types of risks that supply chains face, known risks and unknown risks. They recommend that companies take a full inventory of their known risks and develop plans and oversight measures for them. For unknown risks, they suggest taking actions that could reduce their likelihood and increase the speed that your organization can resolve them. Both of these aren’t truly possible without a full view into your supply chain and how it functions. While there are varying degrees of certainty for each risk, diving deep into data from a unified view can help your organization make the necessary decisions to be proactive in managing them.
A comprehensive view gives comprehensive benefits
If you take the steps to move your organization into a data-driven, visibility-first mindset, the rewards that can be reaped are measurably fantastic. Your company will be better prepared to manage risks, better prepared to make necessary changes in your supply chain and flexible and agile enough to switch processes on a dime. There are a few key reasons why investing in a greater visibility solution and mindset can empower your organization:
- Removes silos entirely: Hosting all of your key data in a single place, that gives you a single source of truth, greatly helps your teams discover what is happening in your organization. It also promotes cross-functional collaboration between your logistics, operations, and customer service teams. This can help each team discover information that they normally wouldn’t have come up with independently, and also encourage closer cooperation.
- Gives you newfound agility: Knowing when problems may arise, and having data on your goods as they travel will help your teams to make the most educated decisions. While proactivity is the goal, there is inherent risk in supply chains and having more precise knowledge can make the difference between a slight delay and a catastrophe.
- Allows for better managed logistics: From keeping track of your goods as they move around the world, to understanding how your drivers are complying with road standards, a full-visibility solution can ensure that you have full control over your logistics. Not only does it let you get a better handle on your supply chain, a full comprehensive view allows you to see inefficiencies that you would have otherwise missed.
If you’re looking to proactively manage your risk, and gain an eagle-eyed view of your supply chain network, Overhaul can give you the clear insights you need to meet the gold standard. We help you go beyond visibility and track your shipments no matter where they are, from transit to shipping yards. We help organizations get a real-time view of their supply chain, by land, sea, and air – all from a single unified view. Take your siloed data sources and work with Overhaul to unify your data and start making more proactive decisions.
