Phases in Supply Chain where Visibility is important

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Inventrax - Supply Chain Management Digital
Transformation IT Services
https//inventrax.com/
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Supply Chain Visibility (SCV) is the ability to
track all the parts, components, or products
right from the manufacturer to the end consumer.
It enables different Supply Chain components in
an organization to gain real-time information
about stock, orders, and deliveries and their
flow in the incoming and outgoing networks. Its
main objective is to improve and empower the
Supply Chain by making this information easily
accessible to all the stakeholders, including
customers.
Supply Chain Visibility in e-commerce achieved by
the internet and its ability to look at products
from around the globe has proven to be playing a
vital role in driving change in present Supply
Chains. Buyers can now monitor their orders
easily in real-time which had prompted sharp
development in the supply chains to keep up and
improve their service levels.
When access to data is made easy, more
information can be derived, which improves the
ability to plan, reduce costs, and boost
efficiency. In addition to reducing costs
associated with logistics, supply chain
visibility can also promote operational and
project managers ability to strategize plans
more effectively, further boosting
revenues.Achieving supply chain visibility is an
exciting idea, which may not be surprising to
learn that its much easier imagined than put
into action, especially with so many products
available, and fragmented supply chain partners.
Since the implementation of Supply Chain
Visibility is dependent on all involved parties,
there is a lot of collaboration, investment, and
planning that goes into the successful
implementation of such a system.
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Phases in Supply Chain where Visibility is
important inventrax.com
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Phases in supply chain where visibility is
important
Procurement
Effective procurement planning involves the
creation of forms that run seamlessly across
different supply chain systems. Since we cannot
control the exercises of our suppliers, for their
continuous monitoring, straightforward procedures
and compelling two-way data sharing are of utmost
importance towards ensuring visibility right from
the beginning of a product's journey.
The key benefits of greater visibility in the
procurement cycle are

• Reduction in time spent on managing contract
  status communications
• With proper visibility of contract details,
  all stakeholders can be allowed to monitor the
  detailed progression of the contract as it moves
  through the workflow. In turn, the contract
  manager has to spend less time communicating
  details to stakeholders.
• 2.Clarity of stakeholders who are working on
  the same projects to streamline workflow
• When all the stakeholders can access
  documents related to the grant code or project,
  it enhances the overall workflow efficiency.

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Phases in Supply Chain where Visibility is
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3. Better Insight into the available budgets
and spend limits When invoices submitted
by suppliers, employees might be unaware of what
budget levels are available to pay for non-PO
invoices. Providing employees with a clear
view of the budgets available to pay for services
empowers all and benefits the complete budgeting
process. 4. Make quicker and informed
decisions When spend analysis is a priority
among procurement professionals, visibility
across the procurement workflow (upstream and
downstream) can provide significant value in
taking decisions quicker and with more in hand
information.
Customer satisfaction
If businesses don't supply customers with the
information they need, they will likely find it
somewhere else. The convenience of modern
technology enables consumers to use personal
computing devices to investigate a company in a
fraction of seconds.When a business doesn't have
the details, consumers need to plan purchases,
they will most likely switch to a competitor. If
consumers need to stick to a particular company
that isn't forthcoming with supply chain data,
they'll search for news sources or online
reviews. Forcing consumers to explore and
speculate doesn't put them in the best frame of
mind.
If a company enables complete visibility over its
supply chain, it is highly likely that it can
share details with consumers. Modern customers
get doubtful when they see empty shelves or
labels that indicate the product is currently
unavailable. When businesses can share
information of such blank spaces with insight
into when the particular product would be
available again, it keeps audiences informed and
interested.This way better visibility ensures
better customer satisfaction.
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Phases in Supply Chain where Visibility is
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Inventory Management Inventory visibility is a
prerequisite to creating an active and alert
global supply chain network. With growing
globalization and complexity of the chain supply
networks, accurate inventory visibility has
become a crucial factor. The benefits of
inventory visibility in Supply chain
are 1.Resolved unpredictable scenarios The best
way to avoid business unpredictability is the
ability to see everything. Knowing the trends of
Inventory management, it gets easy for businesses
to predict and plan when such scenarios
arise. 2.Enhanced just in time inventory
strategies Lack of visibility may lead to manual
scheduling and tracking of shipments from node to
node, and needless to say, it consumes a lot of
time! 3.Prevented cost erosion The inability to
communicate accurate stock availability, the
quantities in-transit, and failure to deliver the
shipment on time will result in strained
relationships between the vendor and the customer.
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Supply Chain costs A key aspect of supply chain
visibility is straightforward information about
on-going procedures. This sort of data makes it
easy for all and improves the arrangement of
transport limits and the selection of vehicle
models by expense or lead time. This would
in-turn yield solid advantages like less unfilled
runs and shorter hold up times. Visibility across
working procedures likewise enables organizations
to turn stock quicker by cross-docking and
advance product receipt procedures to accessible
assets. In addition to operation visibility,
cost straightforwardness over the whole inventory
network is a basic factor in attracting
investment funds. Hence, the individuals who look
up to implement a streamlining methodology, with
greater scope for visibility would accomplish a
reduction in costs.
Risk Management Many companies do not recognize
the risks they are facing mainly because things
have only gone wrong in a small way, in a way
that they could manage. They have the attitude of
if its not broken, then dont think about
making it better. Even some large corporations
who might already have a risk management strategy
face many challenges.  So what should companies
do? The first step is to map the supply chain and
understand which suppliers (across multiple
tiers) and components/materials are the most
critical to your operations. Because of mergers
and acquisitions and other factors, businesses
often find that people within the same company
are not managing risks in a coordinated way,
they are not talking to each other, they are not
sharing information.  Simply put, as with other
supply chain processes, functional silos hinder
the effectiveness of risk management. Hence,
Visibility is key.
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Phases in Supply Chain where Visibility is
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India


Avya Inventrax Private Limited, Sampath Vinyagur,
D.No. 50-94-14/3,1st 2nd Floor,Santhipuram, Visa
khapatnam, Andhra Pradesh, India- 530016.
Sales 91 630 380 0787 Tel [phone]
6060 Fax [phone]
sales_at_inventrax.com
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Phases in Supply Chain where Visibility is
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