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In most cases, these companies are using blockchain as an aid to supply chain visibility and product tracing, but some have applied it as a tool to streamline transactions and speed up the flow of information, goods, and materials. It’s not that tracking and tracing tea through the supply chain is a new departure for the company.
However, in reality most strategic planning exercises neither embed foresight, nor create responsive networks. Visibility Visibility refers to true understanding of the customer demand, real-time track and trace of inventory at item level, and track and trace of shipments as well as alerting when events deviate from expectations.
The COVID pandemic may have been an extreme example of what can go wrong, but it also underscored the importance of planning and decision-making in the event of sudden disruptions that upend the normal working of the complicated modern supply chain apparatus. Create project teams focused on driving improvements across the network.
The most common goals of supply chain visibility include the following, but as your company completes this exercise, be sure to include quantifiable metrics: Reduce business and supply chain risk. Track, Trace and Collect Data from Key Partners. Improve lead times and performance. Analyze Performance and Manage Expectations.
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