What is Supply Chain Visibility
Supply chain visibility is the ability to track and monitor the movement of goods from suppliers to customers in real-time. This enables businesses to have a complete and an accurate picture of their supply chain operations, including inventory levels, production schedules, and logistics. Improving supply chain visibility can improve supply chain resilience in several ways:
- Early warning of disruptions: With improved visibility, businesses can detect potential disruptions early and take proactive measures to mitigate their impact. This can include rerouting shipments, finding alternative suppliers, or increasing inventory levels.
- Faster incident response: Improved visibility allows businesses to quickly identify and respond to disruptions, minimizing the impact on operations and reducing downtime.
- Better risk management: With improved visibility, businesses can identify and assess potential risks and take steps to mitigate them. This can include diversifying suppliers, implementing inventory management strategies, and developing contingency plans.
- Improved supplier relationship management: By monitoring supplier performance, businesses can identify potential problems and take steps to address them before they become disruptions.
- Increased efficiency: Improved visibility allows businesses to optimize their supply chain operations and reduce costs. This can include reducing inventory levels, improving production schedules, and streamlining logistics.
Overall, supply chain visibility is a key component of supply chain resilience, as it enables businesses to better anticipate, respond to, and recover from disruptions.
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