Real-Time Information in the Supply Chain

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Author: Xabier Basañez, Managing Director LATAM, Alcott Global

The current need in every Company and Industry to have end-to-end visibility (E2E) across each touchpoint of the value chain is critical to ensure companies are operating at maximum efficiency.

The ability to view and analyze data at any moment in time immediately collected is a value-added proposition for manufacturers and the industry in general in leveraging E2E visibility and transparency across all the players.

Let’s point out which are the concrete benefits of it and which are the competitive advantages of implementing it.

1.Insight into Demand

Real-time information not only allows the Suppliers to view up-to-the-minute needs from customers around the world, but it also helps them plan or combats any potential slowdowns or bottlenecks across the supply stream.

In addition, real-time windows into overall demand can help companies identify trends or fluctuations in the need for component parts, raw materials in general, and adjust production programs or facility allocations before these fluctuations significantly impact productivity.

2. Greater Planning Capabilities

Real-time information fosters more accurate, detailed planning capabilities in both the short and mid-term.

Because insights into current demand can be viewed and analyzed as they unfold, planners and managers can then use these insights to create better production plans and projects in the near future based on current trend lines.

Better overall planning strategies can be done through all touchpoints of the supply stream from transportation management, from suppliers to production plans, and to final customer relations.

This is why greater planning capability is one of the most important competitive advantages via real-time information platforms.

3. Enhanced Customer Experience

If a manufacturer has the ability to review the current state of their supply situation as it’s unfolding, make adjustments to strategies and planning platforms in the moment, and react to sudden changes in the supply stream at a moment’s notice, it stands to reason this will result in enhanced customer relations and satisfaction.

Real-time information provides companies with the ability to create more accurate production timetables and delivery schedules, which in turn drives a more positive outcome when it comes to acquiring and retaining customers.

And finally:

4. Better Reporting and Data Analysis Potential

With real-time information gathering, the planners and managers had not to wait until the end of the month or quarter to review data critical to a manufacturer’s productivity and efficiency.

Instead, real-time information allows planners and managers to analyze up-to-the-minute data as it becomes available and distribute this data in a cross-organizational way to promote better communication and collaboration.

In addition, this real-time information stems from the use of integrated, intelligent solutions and platforms, which eliminates the need for spreadsheets and other manual methods of data entry and management.

Source: Real-Time Information in the Supply Chain by Xabier Basañez | LinkedIn

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