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3 critical steps to improve supply chain visibility in 2023.pdf
1. 3 CRITICAL STEPS TO IMPROVE
SUPPLY CHAIN VISIBILITY IN 2023
Since the pandemic struck in 2020, supply
chains across the world have faced disruptions
that are still present. This wake-up call is
encouraging business leaders to focus more on
improving end-to-end supply chain visibility to
achieve stronger resilience.
2. ANALYZE THE SUPPLY CHAIN
1.
Analyzing the supply chain is the first and most important step of enhancing
your supply chain visibility.
1.1. USE PROCESS FLOW MAPPING
This refers to mapping out all the functions
and elements of the supply chain to
identify weak points.
3. 2. IMPROVE COLLABORATION WITH SUPPLIERS,
PARTNERS, AND COMPETITORS
Collaborating with suppliers, business partners, and even competitors can yield many
benefits, including increased supply chain visibility.
2.1. COLLABORATE VERTICALLY
This refers to collaborations or partnerships with
suppliers/vendors, third-party logistics providers,
retailers, etc. Building strong, long-term relationships
with business partners can help streamline the flow of
information through the supply chain, resulting in
greater visibility.
4. 2.2. COLLABORATE HORIZONTALLY
This refers to collaborating with competitors or
businesses at the same level of the supply chain. For
example, multiple suppliers can share the demand
burden and share the same distribution infrastructure.
2.3. LEVERAGE INTEGRATED SUPPLY CHAIN SYSTEMS
Integrated supply chain and logistics management software
and applications can enable organizations to collaborate
with other business partners. These systems allow real-time
data sharing and improve visibility across the supply chain.
5. 3. MEASURE AND IMPROVE WITH THE HELP OF KPIS
Measure the impact of the efforts
done by identifying key
performance indicators (KPIs)
and using systems and matrices
that can measure data to extract
useful insights. Establish open
lines of communication with your
partners to share regular
progress reports.