When your company relies significantly on supply chains, visibility is indispensable. Without it, you are, quite literally, blind: Blind to how much you have, how much you need, how long and how satisfactorily you can meet your customers’ demands, and how you can take your business to the next level.
There was a time when achieving real-time visibility was next to impossible. Companies had to look at multiple, ever-changing spreadsheets to get a feel of where exactly they are in their supplies.
With cloud technology, digitized supply chains with real-time visibility means make or break for companies. Even if you manage to increase your sales, for example, without the visibility needed to back this up and provide support, you would not be able to keep your customers happy for a sustained period of time.
Here are three reasons why visibility – should be your main objective in embarking on a digital future for your firm, especially as you enter the “new normal” environment.
1. You bring down costs as you chart your growth
Real-time knowledge of what is happening in every aspect of your business brings you boldness and confidence, even with disruptions presented by emergencies such as a pandemic. This confidence translates into better informed, accurate decisions, allowing you to bring your costs down even as you aim for greater revenue and a better bottom line. This will also enable you to cut your cycle times, improve the fulfillment of orders, and many other benefits – all without increasing capital.
2. You master the omnichannel
Technology has afforded businesses multiple ways to reach out to their customers. But customers will want the same level of service excellence, however they purchase from you. Real-time visibility will provide your company the consistency with which to serve customers in the same way, all the time, keeping them happy and assuring you of recurring business from them and their referrals.
3. You reduce your anxiety
Even in a world without COVID-19, getting inventory levels right could be tricky and stressful. Managing the fallout of decisions made without the benefit of real-time visibility could eat up not just a lot of time, but energy. It seriously compromises your ability to run the business well and prepare for further shocks.
Many systems provide real-time visibility taking into consideration the unique features of the business. Such cloud-based technology allows companies an insight into their operations that they have never enjoyed before. While it is true that there are many emergencies and unforeseen events that can take place, the visibility provided by a good solutions partner can spell the difference between merely winging it — and spreading your wings.