Much like a successful marriage, the relationship between a shipper and its logistics partner has to be mutually-beneficial, trust-based and productive. Without these qualities, one or both parties will quickly find themselves wondering why they entered into the agreement.
If you can’t pinpoint which products are and aren’t making your company money, it’s time for a thorough SKU-level profitability assessment.
Supply chain visibility empowers you to reduce risk and improve customer service. That’s especially important in a period of widespread disruption, where the availability of real-time information can facilitate network planning, demand-driven adjustments and rapid communications to customers.
Organizations that invested in supply chain mapping are more successfully managing COVID-19 disruption thanks to greater awareness of their demand response networks. Based on multiple layers of information, supply chain mapping and contingency planning grants real-time access for businesses facing disruption.
For many organizations, a rear-view perspective on the COVID-19 pandemic reveals opportunities for course corrections that might have prevented costly missteps or customer service failures. Hindsight is always clear, and under normal circumstances, disruption cause-and-effect analysis is integral to process change.
Supply chain strategies after the COVID-19 disruption will likely be significantly different for many organizations. Those new strategies, like the old, will be built on data, but it, too, will be quite a bit different. Information that drove network design decisions may no longer apply and any crisis responses deployed today may no longer be valid next month.
When you think about the biggest risk to your company, what comes to mind? A
The drive for visibility across the supply chain is based on the assumption of accurate data at every step. However, as the flood of data collected in the supply chain grows, it’s becoming more difficult to manage and analyze it for strategic insights. Any inaccuracies could lead to conclusions that result in misguided strategic and tactical decisions.
Has your company ever shipped a product to the 99999 zip code?