In an increasingly interconnected global economy, the concept of supply chain visibility has emerged as a critical factor in the success of businesses. But is it a myth or a reality? This question was the focus of a recent panel discussion featuring industry experts Roxane Desmicht, VP Global Supply Chain Management at ams OSRAM, Stephanie Benedetto, CEO and Founder of Queen of Raw, and Anne-Sophie Zerlang Karlsen, Vice President | Heading up Operations in Asia Pacific at A.P. Moller – Maersk.
This blog post delves into the insights shared during this discussion, exploring the importance of supply chain visibility, the role of technology, and the impact of government regulations and industry standards.
The Importance of Supply Chain Visibility
Supply chain visibility is a crucial aspect of modern business operations. It involves having a clear understanding of all aspects of the supply chain, from sourcing raw materials to delivering the final product to the customer.
As Roxanne explained during the discussion:
“Supply chain visibility is essential for businesses to control their manufacturing network seamlessly. It helps in addressing timely production issues, avoiding material wastage, and improving reaction time.”
Sophie echoed this sentiment, emphasizing the role of supply chain visibility in matching supply and demand effectively:
“It also aids in finding waste and excess inventory in the supply chain, thereby enhancing efficiency.”
The Role of Technology
The panelists agreed that technology plays a significant role in achieving supply chain visibility. Stephanie, in particular, highlighted the role of software solutions:
“Companies are leveraging software solutions to centralize data, take action on excess inventory, and improve supply chain efficiency. These solutions are designed to integrate into existing business practices, making the implementation process quick and easy.”
The Impact of Supply Chain Visibility
Supply chain visibility impacts a company’s ability to respond to disruptions and unexpected events. It provides a clear understanding of the business end-to-end, enabling companies to react to customer demands quickly and efficiently. It also helps in reducing waste, thereby contributing to sustainability efforts.
The Role of Government Regulations and Industry Standards
Government regulations and industry standards play a crucial role in achieving supply chain visibility. They set rules and sustainability targets for companies to achieve. However, achieving these targets requires companies to clean up their data and processes, which can be a challenging task.
The Need for Collaboration and Communication
Collaboration and communication with suppliers and partners are essential for improving supply chain visibility. By bringing together cross-industry stakeholders, companies can drive ROI for everyone across people, planet, and profit.
The Future of Supply Chain Visibility
The future of supply chain visibility looks promising. With the increasing adoption of technology and the growing awareness about the importance of supply chain visibility, companies are making significant strides in achieving their supply chain visibility goals.
While supply chain visibility may seem like a daunting task, it is not a myth. With the right technology, collaboration, and commitment, companies can achieve supply chain visibility and reap its numerous benefits. It is a competitive advantage that allows businesses to be agile, react quickly to changes, and focus on their customers. However, it requires continuous effort and discipline to maintain in the long term.
The panel discussion concluded with the consensus that supply chain visibility is indeed a reality, not a myth. It is an essential aspect of modern business operations, contributing to efficiency, sustainability, and profitability. As the world continues to evolve, supply chain visibility will undoubtedly continue to play a crucial role in the success of businesses worldwide.
We hope that this discussion has provided you with valuable insights into the importance of supply chain visibility. We invite you to share your thoughts and experiences in the comments below. How has supply chain visibility impacted your business? What challenges have you faced in achieving supply chain visibility? We look forward to hearing from you.