The global coronavirus (COVID-19) pandemic is affecting countless people, businesses, supply chains, and our general way of life. While some supply chains have been challenged by peak demand, others have halted to a standstill with an incalculable impact on the bottom line.
In DiCentral's webinar, Supply Chain Resilience, Dr. Zach Zacharia, Director of the Center of Supply Chain Research at Lehigh University, mentions, "One of the most significant steps an organization can take in increasing supply chain resiliency is enhancing end-to-end visibility across its supply chain to uncover data that enables agility in responding quickly to supply chain crises".
In times of crisis, collaborating with trading partners across the supply chain is hypercritical. Supply chain visibility enables organizations to identify positions of inventory at any given time, and track the shipments of components, parts, or products in transit as they move from the original manufacturer to their final destination. Rising competition, globalization, and growing market complexities have complicated the challenges for organizations to trace products that traverse their ever-expanding supplier networks.
Visibility leads to a resilient supply chain that can withstand disruptions that can be foreseen and the black swan events, like the ones listed below, that cannot be predicted. Even in the midst of a pandemic, customers expect short cycle times and inventory visibility. To meet such high demands, organizations need a transparent, more effective supply chain, and a better flow of data and information. A system that delivers a comprehensive view of the supply chain will help generate better consistency while classifying SKUs, measuring units, and imposing timelines. In this case, the best solution to increase supply chain visibility may be to capitalize in a robust cloud technology that is capable of effectively managing the data flow and present a clear visualization for the user.
Technology can certainly add value by providing visibility throughout the supply chain, but you can't rely solely on this. You must have a strong foundation of key decision makers that are ready to act at the slightest disruption. These decision makers will be ready to implement a short-term and long-term plan to pull the organization through any disruption.
The infographic below provides an overview of these insights: