Disruptions are real-time, so why isn’t your data?
Martijn Graat, Supply chain trend watcher and founder at LogisticsMatter, shared his opinion about RTV in brand new Supply Chain Visibility Trend Report.
No wonder the number one and two challenges mentioned for 2021 are pressure and disruption. Disruptions of this magnitude make companies rethink their supply chains. On a strategic level, they may consider re-shoring or near-shoring their production facilities, or looking for alternative suppliers closer to their markets. On a tactical and operational level, they may consider moving essential supplies via air instead of ocean.
In order to respond to supply chain disruptions, no matter how big or small, you need the right data at the right time, but it is the speed at which disruptions move that makes it difficult for many companies to make data-based decisions. The faster things are moving, the more you need real-time data.
The Sixfold survey tells us that over 82% of companies believe that knowing the real-time location of a shipment is very important, while at the same time only 31% of companies use real-time data often. There is much to be gained.
When real-time data is available you can respond fast when a shipment gets stuck, or a factory breaks down. You can immediately see what stock you still have available, where it is, and how you should re-route the flow of your goods to make sure there are no critical shortages anywhere.
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