Supply chain-centric organizations face unique challenges in today’s rapidly-changing marketplace. A variety of macro-industry factors, combined with the dynamic nature of their business, have made operations increasingly complex. As a result, there is an urgent need for tools that enable complete visibility into and enhanced management of inventory and related events and activities.
Inventory Visibility
A Supply Chain Connect WhitepaperIntroduction Supply chain-centric organizations face unique challenges in today's rapidly-changing marketplace. A variety of macro-industry factors, combined with the dynamic nature of their business, have made operations increasingly complex. As a result, there is an urgent need for tools that enable complete visibility into and enhanced management of inventory and related events and activities. In fact, in a 2006 report by Aberdeen Research, nearly two-thirds of supply chain professionals surveyed indicated that they are under increased pressure from senior management to dramatically improve the technologies they use to manage inventory. Some of the most common issues include: Globalization Most organizations operate on a worldwide scale, working with vendors, suppliers, and clients in countries across the globe. This approach, while crucial to ensuring profitability and growth, can further complicate inventory and supply chain activities that are already complex and multi-faceted. Outsourcing In an effort to decrease administrative burden and focus more energy on core business activities, many companies are relying on third-parties to handle a variety of functions. This trend is evident in the growing popularity of vendor managed inventory (VMI) and other outsourcing strategies. And, while beneficial in many ways, outsourcing can make supply chain operations more difficult to track and manage. Increased Competitive Pressures Competition is fierce in every industry sector, and supply-chain intensive corporations are no exception. Customers demand superior service and rapid order fulfillment, and will quickly spend their money elsewhere if their needs are not satisfied. Aberdeen studies validate this point, showing that 27 percent of companies view effective inventory controls as a way to gain additional market share through maximum product availability. Compressed Product Lifecycles Consumer needs change rapidly, and in an effort to anticipate and respond to those requirements, manufacturers are evolving and/or replacing their products faster than ever before. This trend is rendering existing inventory obsolete and un-sellable at a head-spinning pace, making it harder to maintain optimum stock levels to meet demand. The Need for Complete Inventory Visibility In order to address the challenges above, companies must find new and innovative ways to achieve comprehensive, 360 degree visibility into the inventory-related activities they conduct with their suppliers, logistics partners, and customers. Known as inventory visibility, this technique provides organizations with the insight they need into available stock, inventory in transit, open orders, returns, and other vital information. Armed with this intelligence, they can set more effective inventory strategies, and ensure that the stock they require to satisfy customer demands is readily accessible whenever they need it.
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But true, unhindered supply chain visibility is not easy to achieve without the proper tools and technologies in place. It requires: . The ability to consolidate multiple supply chain tracking and control systems, and integrate timely and accurate data from a variety of disparate sources . Dynamic event detection, so problems can be uncovered and prevented before they severely impact operations and customer satisfaction . In-depth impact analysis, to quickly and accurately assess how potential changes in activities will affect order fulfillment, delivery times, and service levels The SCC Solution: Empowering Organizations to Achieve True Inventory Visibility Supply Chain Connect (SCC) has designed and developed a powerful Supply Chain Visibility Module that enables companies to better monitor and control their stock and all related inventory management activities. This robust and feature-rich application is comprised of three core components: User Dashboard Supply chain professionals can easily and conveniently access a single, consolidated view of all needed operational data via an intuitive, fully-customizable Web-based portal. Snapshots of recent events, the status of open activities, the impact of any changes, and other mission-critical information can be instantly retrieved and reviewed when needed. Additionally, users can leverage powerful reporting an... [download for more]
