Supply chain disruptions can have a ripple effect throughout the entire organization. When parts or products are not available, it can cause delays and interruptions in production, which can lead to customer dissatisfaction and lost revenue. That's why it's so important to prioritize visibility in your supply chain - so you can quickly identify and address any issues that arise. In this blog post, we will discuss the importance of visibility and how you can make sure your supply chain is as resilient as possible.
Although the world continues to re-open for business as usual, the problems don't stop there. For supply chain managers who have long sought to build resilience into the fabric of their companies with flexible manufacturing techniques or sources of inventory that are not entirely dependent on one another -- the old ways of operating may no longer cut it and risk obsolescence as disruptions prove to arise at any given, unexpected moment and leave businesses vulnerable in ways never thought possible before. Research from a recent Accenture finding suggests that companies actively working to create visibility within their supply chain are better prepared to navigate the choppy waters ahead.
Here are several reasons why visibility is so important for supply chain resiliency:
1. It allows you to identify risks and vulnerabilities.
If you have visibility into your supply chain, you can identify potential risks and disruptions before they occur. This allows you to take steps to mitigate those risks, or even avoid them altogether.
2. It allows you to quickly adapt and respond to disruptions.
If disruptions do occur, having visibility into your supply chain allows you to quickly identify the root cause and take steps to mitigate the disruption. This includes being able to quickly re-route shipments, find alternative suppliers, and more.
3. It increases transparency and communication.
Visibility also increases transparency and communication within the supply chain. This is important because it allows all stakeholders to be on the same page in terms of what is happening, and makes it easier to coordinate efforts in the event of a disruption.
4. It builds trust and relationships.
Finally, visibility also builds trust and relationships between different supply chain stakeholders. This is important because it can help to avoid or resolve conflicts and make it easier to work together to find solutions in the event of a disruption.
Thus, it is clear that visibility is a crucial element of supply chain resiliency. Organizations that do not have visibility into their supply chains are at a significant disadvantage when it comes to mitigating risks and disruptions.
Supply chain visibility is not always easy to achieve. In a rapidly changing environment, it can be difficult to get financial insight into all of the moving parts of the supply chain.
Nevertheless, organizations are more prone to be caught off guard by problems if they don't have insight into the supply chain. Supplier visibility is crucial for supply chain resilience during times like these. Whatever approach you take, it is important to make sure that you prioritize visibility in your supply chain management strategy. By taking a proactive approach to supplier risk management, organizations can avoid supply chain disruptions and keep their operations running smoothly despite future headwinds.