Supply Chain Visibility

Goals

Gain an understanding of cutting edge thinking in supply chain visibility, with a focus on heavily regulated industries, including information on how companies and governments can enable visibility and continuous monitoring to ensure security against things like cyber attacks, foreign influence, and physical threats.

Early Findings

  • There is still a high need for innovations in supply chain visibility, with 94% of businesses in 2020 lacking full visibility of their supply chain and logistics operations.
  • Modern supply chains are also much more vulnerable to global trade tensions, shaky economies, and adjusted shipping regulations, with lack of supply chain visibility often causing costly disruptions including shipments being stopped at ports for lack of compliant documentation.
  • Key innovations to resolve supply chain visibility include machine learning, business analytics, digital control towers, blockchain, and sensor technology.
  • Machine learning algorithms are helping businesses to use predictive methods combined with KPIs to empower logistics and grant predictive visibility.
  • Business analytics allow businesses to use and combine data from various systems and segments of the supply chain, which allows them to address and resolve inconsistencies in supply chain visibility.
  • Improved sensor technology is allowing for increasing tracking of packages during transit, both within and between warehouses and during shipments.
  • Smart sensors also allow companies to track environmental conditions and proximity in order to trigger useful alerts, increasing another aspect of supply chain visibility.
  • The decentralized system of blockchain is allowing companies to improve end-to-end visibility, reducing operational costs and preventing risk of fraud or data hacking of supply chains, increasing both visibilty and security.

Proposed next steps:

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