Manufacturers Must Seek Better Supply Chain Visibility
For manufacturers, key functions such as sourcing and supplier management have become more challenging as the result of increasing supply chain complexity. Such complexity puts a lot of strain on your organization and a need for more senior oversight, direction, and prioritization. One area that manufacturers need to focus on is improving supply chain visibility. Here we define visibility as having access to accurate, real-time data that enables better decision making and risk mitigation. Unfortunately for manufacturers, there are many areas in need of improved visibility such as customer demand, inventory, total cost, and supplier risk. There are two initiatives that we believe manufacturers should elevate to the top of the priority list for their company: tracing the upstream supply chain and supplier capacity management.