Not all businesses rely on a complex, multi-party supply chain. Some, smaller companies may run blind when it comes to their supply chain and somehow manage their day-to-day. But for more serious operations, management thinks they can make do with incomplete supply chain visibility — or worse, believe they understand their supply chains but have no coordinated system for viewing, searching, or tracking the orders traveling through their system — are in for a rude awakening. These are usually the businesses who brush off optimizations because they've "already figured it out."
Make no mistake, supply chain visibility is essential for logistics efficiency. Original equipment manufacturers (OEMs) with complex and disparate supply chain infrastructure can improve the health of their supply chains while guaranteeing higher levels of customer satisfaction, all without lifting a finger. It sounds far-fetched, but the technology is here.
The Problem with Your Supply Chain
Most supply chain executives know visibility is important but don't have a good way to monitor inventory flow across each supply chain partner. Visibility is one of the most important challenges for OEMs to overcome, but unfortunately it has traditionally been one of the hardest to solve.
When it comes to supply chain logistics, a lack of visibility means a lack of control. It’s no secret supply chains have become more complex and spread out to accommodate global trade. As an OEM’s supply chain expands, all of this becomes increasingly harder to manage. This exposes OEM’s to substantial liability and prevents any sort of real optimization from taking place.
To make matters worse, the world of international supply chain logistics is still relatively young. There aren’t many solutions in the marketplace to address supply chain visibility, and best practices have yet to emerge. However, there’s an upside to this: There is huge potential for increased competitive and cash advantage for OEM’s that can better manage their supply chains.
The Power of ChronosCloud
OEM’s seeking complete visibility of their supply chain infrastructure should look no further than ChronosCloud and its information-focused approach to supply chain management.
ChronosCloud is an all-in-one database which prioritizes information availability, inventory tracking, and interaction documentation. The software aggregates data from a business’s ERP feeds, physical interactions with goods, Internet of Things (IoT) devices and communication logs to document shipping information for each touchpoint in the supply chain. ChronosCloud consolidates this information into a simple UI which lays out the supply chain starting at the point of manufacturing all the way to the customer’s door. Supply chain executives can use this hub to monitor inventory flow in real-time, even during multi-party transactions.
But the benefits aren’t limited to data aggregation—ChronosCloud can be leveraged in numerous ways to enhance the efficiency and profitability of supply chain operations.
If you can see where all of your goods are, you’ve taken the most important first step towards eliminating excess inventory. Often, extra materials are buffered at key locations to compensate for lack of visibility. At many points between factory and consumer, goods also sit idle, using up valuable capital. What would it be worth to a business to squeeze just one day from its inventory pipeline? With ChronosCloud’s visibility and analytics, that hypothetical possibility becomes real.
When inventory is shipped through multi-party supply chains, each partner assigns its own tracking number to each order. Naturally, this complicates matters when specific orders within the supply chain need to be found, resulting in wasted time and energy. ChronosCloud collects data from all supply chain partners and allows the OEM to track the entire supply chain journey of goods by a single reference, commonly the sales order.
Granular Control of Shipments
What happens when a product or carton gets placed in the wrong shipment? Traditional supply chain logistics offers no answer to this problem, but through ChronosCloud, granular inventory management is a simple task. ChronosCloud has the ability to capture all shipment information at the point of manufacturing to the carton level. Supply chain executives can then search to locate specific cartons or products no matter where in the world they may be or which shipment to which they have been assigned.
Proof of Delivery
ChronosCloud provides proof of delivery on each order, regardless of carrier, saving supply chain executives the hassle of having to procure it on their own. This data is included into the ChronosCloud system and can be easily sorted and grouped before sending it out for auditing.
Optimal Supply Chain Visibility
Supply chain optimization can produce significant savings for OEM’s, a process that begins with supply chain visibility. Solutions like ChronosCloud streamline traditional supply chain documentation and tracking processes and take the guesswork out the equation, saving time and improving performance all at once.
Unlike any other software available on the market, ChronosCloud lays out the supply chain from end-to-end and supports issue resolution by documenting all points of interaction. OEMs who leverage these capabilities will build out their supply chain infrastructure in ways which the competition can’t—leading to businesses who are more efficient, less prone to error, and more productive than any other in the global marketplace.
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