Business
Obviously , supply chain visibility can ’ t be achieved from a single data source , or a single set of participants . Just as the old-fashioned supply ‘ chain ’ is more accurately described as a network today , so a networked solution to building multidimensional visibility to that ecosystem offers the best path to value . A networked visibility approach means that business benefits can be realised across many cross-functional and cross-domain areas .
Supply chain visibility frameworks need to recognise the milestone components that make international product flow successful as well as transparency of outbound truck shipments constrained by connectivity to many different carriers . Collaboration with trading partners is the only way to gain the higher levels of visibility that can significantly improve global supply chain planning and fulfilment operations . To keep production running and customers happy , it is critical to know when expected product availability for fulfilment or consumption is in jeopardy .
Volatility in supply chains makes it hard to profitably meet demand . Sourcing is complex , often involves hundreds of partners , and suppliers often don ’ t have access to adequate capital , causing instability in the supply base . The majority of inventory , cost , and risk is outside of a single enterprise ’ s control . Too many siloed systems and not enough shared data make it impossible to reliably meet consumer demands . Companies , with only a few pieces of the puzzle , must scramble to track inventory and provide accurate ETAs .
Automation of supplier payment can help improve supplier relations , optimise working capital , and reduce fees and inefficiencies along the financial supply chain . To automate supplier invoice payments and standardise documentation , companies must transform themselves from silo-based , inwardfacing corporate operators to interconnected , highly agile business network orchestrators .
" Volatility in supply chains makes it hard to profitably meet demand ."
The goal is end-to-end visibility and orchestration . Incorporating the supply chain ’ s ability to sense and respond , orchestrate finance and trade flows , and utilise advanced data centres and artificial intelligence is crucial for providing transparent visualisation of supply chain dynamics . In addition to these pillars , next generation control towers , or control centres , deliver pervasive end-to-end visibility by capturing impact , interconnections , repercussions , and options . They synchronise participants to help dissolve a functionally siloed approach to fulfilment .
Once organisations adopt a networked solution that allows all parties to share and see real-time updates , the heightened sense and response capabilities allow them to further close the loop and develop the continuous supply chain . RACA
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RACA Journal I April 2022 www . hvacronline . co . za