An Increase in Visibility Yields a Decrease in Risk. Every Time.
Updated: May 18, 2020
You will receive no dispute from supply chain management companies in regards to in-transit visibility. A collective agreement showcases a heightened efficiency derived from a transparent and responsive supply chain model.
Taking this into consideration, how can communication and supply chain visibility further increase? By continuing to evolve with new technologies and ground breaking innovations, of course. Fully digitized supply chains are not quite realities for most companies, but this poses no threat to the current technologies organizations have begun integrating into their systems. Mediocre forecasting can show the impending age of automation on the horizon. It is in a company’s best interest to integrate automation and digitization when and where it can.
Increasing your supply chains collective visibility will decrease blind spots while mitigating risks associated with tracking, Customs hang-ups, supplier miscommunication, and route optimization with the comprehensive adoption of innovative technologies.
The Internet of Things (IoT)
The Internet of Things (IoT) is one of the implementations, primarily focused on in this article, offering complete visibility and predictive solutions that function to decrease the risk involved in logistics.
According to a recent white paper written in regards to visibility and the IoT, “IoT-[enables] supply chain managers to shift from reactive to proactive. Armed with up-to-the-minute information on location and condition, they can now more effectively limit major downstream impacts to their company when shipments are delayed. With real-time-in-transit visibility, companies can slash the amount of theft and damage of high-value goods in motion.” [Supply Chain Brain White Paper, IoT Visibility Reduces Risk, Plain and Simple]
We have seen scaled predicators of this technology unveil itself as video doorbells installed in homes - now this same principle can be applied to your cargo. The direct impact of lost cargo oftentimes far outweighs the cost of replacement because you must take into consideration production interruption, decreased customer confidence, added labor costs, red tape, and wasted time. All these problematic issues compound into a proverbial iceberg, slowly but steadily revealing issue after issue after issue.
What exactly are we talking about here? Sensor data. An industry buzz worthy term from the big data category. The real underlying issue though – too much data, too fast. While we impatiently await the synergistic software applications capable of handling tracking tag data, for now it will require platforms fully suited for massive amounts of information.
We will see a rise in IoT implementation as companies progressively adopt programs equipped to decipher and organize “real-time” data. This integration will inevitably improve supply chain visibility and predictive analysis, thus decreasing risks, thefts, and unwarranted fees.
Single Source Global Management System
Aside from the copious amounts updated and digitally advanced software programs prime for immediate integration and operational implementation that we will all continue to see over the course of the next, well, forever, we will also start to see creative adoptions leaning more towards hands-on specificity.
What do we mean by that?
Simple. The rise of individualized 3PLs, logistics companies, and freight forwarders alike rolling out their own software programs promising the transparency and continuous visibility that we have all needed all along.
Solving targeted pain points with innovative product development will be the future of International Freight Forwarders – or at least it should be. Partnering with a team of logistics experts who have the direct ability to eliminate the overhead while providing the expertise will be the difference between forecasted successes and consistent down trends within your company.
One dashboard, with all data.
We have narrowed this concept down before in a previous post and threw the “outsourcing” tag on it. Outsourcing, at its core, can be conceptually disregarded and thrown off with a resounding feeling of uncertainty. This was the old version. Enter system outsourcing 4.0 - Visibility Platforms + Solutions Teams with expertise in supply chain management.
If you would like to read our more comprehensive opinion on collaborative and co-managed supply chains and the transparency capabilities, then click this link for details.
In using a direct excerpt from the co-management blog post:
“Businesses don’t compete, their supply chains do. Comprehensive outreach and customizable solutions aren’t always easy to come by. Ensuring that your outsourced team is capable of taking creative approaches to problems when they arise can make or break the success of company. Due diligence is essential – outsourcing is not a one size fits all type of approach.”
We admit, a co-managed supply at first glance doesn’t seem comparable to a digitized supply chain until you realize the collaboration is fully dependent on your partners technologies.
Full circle moment.
We understand the complexities surrounding the initiatives involved in successfully implementing a program intended for increased visibility and we’re here to help. We have a team of knowledgeable experts specializing solely in solutions first outcomes, regardless of the issues you may be having with previous shipments.
Also, if you have any questions about digitization and how it can positively affect your end-to-end supply chain, or how to begin the implementation process, feel free to reach out to us today for a brief consultation.
We are a passionate group of professionals with expertise in areas ranging from transportation, Customs, compliance, distribution, legal, and finance. We understand that logistics along with technological advancements can be a labyrinth. One question inevitably leads to three others. Our team will help you through the maze.
Our Single Source Global Management System provides the structure, visibility, and transparent support to drive industry leading performance and results from each of our service areas. We look forward to working with you.