Are Supply Chain Lags Increasing Your Risk?

  • Written by admin
  • Jan. 8, 2018

    Every minute your inventory is in transit, you’re putting yourself at risk.

    Some risk during transit is unavoidable, but supply chain operators often confuse which risks are necessary and which come as a result of supply chain inefficiency.

    This is why solutions like ChronosCloud were created. ChronosCloud is a revolutionary supply chain visibility platform that provides end-to-end transparency of all operations. Data is gathered from each supplier and presented collaboratively in a single dashboard. Processes that used to exist in silos are laid out from OEM to customer, giving users a simple way to track inventory across every supplier in a multi-party supply chain. This helps identify areas of inefficiency to reduce risk, increase performance, and create a more predictable supply chain overall.

    Consider the numerous supply chain lags and delays that commonly increase an OEM’s risk:

    • Shipment delays from natural disasters, inclement weather, or fleet malfunctions that prevent deliveries from being made and force suppliers to hold excess inventory assets.

    • Buffering during handoffs between suppliers, particularly when the delivery/check-in schedules of each transportation and warehousing partner are misaligned. This can result in shipments being delayed by days or more and makes it less likely that the OEM will achieve their needed level of service performance.

    • The risk of inventory loss, theft, or damage increases exponentially the longer inventory is held in-transit.  

    In a survey of companies with global supply chains conducted by Aberdeen Group, 44 percent of respondents agreed that the best way to support their operations was to improve the internal visibility of their processes.

    Reduce Supply Chain Risk with Visibility

    These lags are inevitable without a system that tracks supply chain orders from end-to-end. With systems like ChronosCloud, each of these supply chain issues can be exposed and addressed to support efficient transportation and distribution:

    • By managing the performance and conditions of every supplier from a single dashboard, OEMs will understand where shipping delays occur, how to manage inventory to accommodate unexpected mistakes, and the how to benchmark performance of every supplier.

    • ChronosCloud takes data from every supplier and displays it collaboratively; this means that OEMs can track the schedules and operating hours of every supplier to guarantee that all schedules are aligned and that inventory is never held longer than it should be.

    • As ChronosCloud lays out and tightens supply chain operations, OEMs are able to more efficiently move products through their pipelines and reduce the amount of time they hold finished goods.

    At its core, ChronosCloud is about information availability. Supply chain lags are inevitable, even in optimized supply chains. However, with systems like ChronosCloud, operators can streamline their supply chains to make them flexible, visible, and resistant to disruption. In short, it’s a solution that reduces risk. And that’s a benefit that supply chain operators from all industries can get behind.

    Schedule a Consultation

    Is your uncoordinated supply chain prone to inefficiency, inventory loss, and excessive risk?

    See how you can benefit from an end-to-end cloud based platform for multi-party supply chain visibility across companies and time zones.  

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