In the modern supply chain, visibility is more critical than ever; it helps managers minimize analysis time and get fast, accurate information to make timely decisions.
Visibility is a critical industry-wide requirement for 2020. These days, changes in shopper behavior and regulatory requirements from the environment put pressure on supply chains. This requires supply chains to leverage new technologies and promote end-to-end transparency in their supply chains.
Not all disruptive technologies are as powerful as they promised. Still, it is clear that the development in the deployment of IoT, along with 5G connectivity, offers enormous potential for the logistics industry.
Visibility plays a considerable role in supply chain management when the chain is often affected by external shocks. At that time, the managers can understand the chain’s current situation to react quickly to the changes in the market to avoid local disturbances.
Industry 4.0 continues to drive transformation across all sectors of the supply chain. High visibility will provide a critical framework and goal throughout the new decade.
In-depth studies on Supply Chain Visibility demands
About the world context
We can see that our year 2020 is facing the problem of COVID-19. The economy suffered a severe decline; thousands of companies under the influence of COVID- 19 had to declare bankruptcy. In this context, businesses must take advantage of technology development to increase revenue and limit the worst possible scenarios.
Visibility is of primary concern as a driver of better service delivery that can minimize supply chain disruptions. If, in the past, Logistics Providers (LSPs) and Retailers and Manufacturers invested heavily in adopting disruptive technologies requiring separate resources, they are now gradually reducing that requirement. This may be because they need to optimize the source of investment costs and reduce labor.
Besides, 5G, RFID, IoT, and advanced location equipment have reduced adoption costs and enabled a higher geospatial tracking level. Moreover, sustainability goals have become the main driver for adopting technology to provide visibility into the supply chain’s .
It is worrying that businesses are not aware of the value gained from these disruptive technologies. The real value of this visibility lies in the ability to balance inventory across the entire supply chain and predict changing demand and supply to respond promptly, minimizing supply chain disruptions.
Studies of the needs of businesses Visibility
LSPs now provide Visibility for about 70% of the supply chain to their customers, while retailers and manufacturers may have close to 60% visibility. Based on this feedback, it is clear that LSPs, retailers, and manufacturers are all likely to deliver end-to-end supply chain visibility to their customers within the next five years, with LSPs that are probably given priority over their current offer.
The biggest problem the logistics industry faces in achieving the end-to-end vision is the lack of cooperation. Over a third of respondents (38%) feel that the industry is still too bleak and lacks the flexibility to gain Visibility across the entire supply chain. Over 19% of respondents think that increasing end-to-end Visibility is too complex a task to achieve.
- Data collaboration
According to a recent report, Digitalization is an essential factor driving cooperation between the shipper and the LSP and more solution providers. This is in large part due to improvements in data sharing processes as the logistics industry has evolved. Of course, the exchange of data through the application of technology development is not new. But the old, clumsy method of exchange still hasn’t brought much value to the whole chain. Fortunately, Electronic Data Interchange (EDI) has replaced paper business documents with digital technologies. This provides useful insights and provides a complete supply chain.
- Achievements from data collaboration
LSPs said they have benefited from collaborative data sharing, with 60% of respondents reporting improvements in visibility and planning. LSP visibility is enhanced due to multimodal transport solutions, allowing LSPs to improve customer satisfaction (58%) and customer retention (54%). Retailers and manufacturers have also reported many improvements to 83% invisibility and planning due to data sharing.
Visibility has given customers more control over discrete processes like shipments, from ordering to checkout. Cloud-based collaboration with IoT data allows parties to display critical information across enterprises and access a unified information source to ensure clarity in decision-making.
Overall, data collaboration has helped drive the development of new technologies for retailers and manufacturers and improve customer retention rates for LSPs, thanks to increased visibility to pave the way for the supply chain.
What is the biggest challenge in businesses regarding the speed at which new technology is adopted?
The biggest challenge facing the adoption of new technology faced by LSPs is the lack of resources to drive adoption. Simultaneously, many companies may like the idea that the resources needed to scale up products are not. Besides, many other businesses face the problem of inadequate allocation of resources, leading to a waste of personnel costs but still unable to implement solutions.
How much focus is the business focused on deploying applications?
According to recent research, 34% of LSPs and 40% of retailers and manufacturers have a dedicated team working to determine disruptive technologies’ best applications. However, in the same study, up to 10% of LSPs and 22% of retailers, manufacturers are not focused on developing this technology.
Are LSPs considering acquiring digital freight combination platforms or building their own?
Digital Freight Matching (DFM) refers to a segment of the shipping market that meets shoppers’ needs with carrier capabilities via mobile or web-based platforms. ⅓ LSPs show no interest in both DFM acquisitions and development (32%), another third seek to acquire existing platforms (30%), and a quarter considers building their platforms them (24%). The remaining LSPs expressed uncertainty about the benefits of DFM (14%).
Are you looking to use digital freight aggregation platforms?
Nearly half of LSPs (43%) and retailers want to use the DFM platform in the next decade, with 15% of businesses already integrating them into their operations. The remaining 43% of companies do not intend to apply.
Are you currently investing in the automation of your logistics facilities?
The majority of LSPs surveyed responded that they are currently investing in the automation of their logistics facilities (62%). As an essential part of any digital architecture, they are automating the rendering of many activities, from the deployment of IoT sensors in the warehouse to artificial intelligence.
Investing in IoT infrastructure also marks the first place emphasis on warehouse automation, where the development of smarter picking processes through digital integration and effective real-time analytics of options.
What is the labor problem of the enterprises?
LSPs (56%) and retailers and manufacturers (58%) emphasized the labor shortage in the past 24 months as an obstacle to their operations, indicating that they are now heading towards automation (30%) and training programs (32.5%) to compensate for the staff shortage. According to 13% of retailers, increasing investment in robots is an essential part of the automated labor approach.
However, structural change can result in a more efficient approach to engineering reinforcement. Implementing a lean manufacturing solution in which work is done in terms of traction (based on demand), rather than push, production schedules can improve efficiency. Visibility is crucial in this regard, as both the forecast on the supply and demand side and the setting.
Do you have a plan to perfect your e-commerce within 2-5 years?
Nearly 1/4 of LSPs (72%) have set up eCommerce plans over the next five years, with 34% of respondents implementing focused strategies to tackle sales floods. However, 28% of LSPs say they haven’t had any specific strategy in the new decade. Retailers and manufacturers also tell a similar story, with 37% of respondents saying they have no intention of implementing a particular comprehensive strategy in the next five years, while 40% of sellers Retailers and manufacturers agree to have a specific strategy.
Sustainable supply chain practices emerged later in the decade to be buyer- centric and build a transparent operational chain. While companies see Industry 4.0 as an opportunity to revive supply chains, sustainability has become a top priority.
Risk management is an essential part of supply chain operations. Over the past few years, the logistics industry has faced a series of challenges, all of which point to a globalized supply chain’s fragility. Although firms have begun to model risk strategies consistent with modern supply chains’ complexities, a limited vision of all aspects of production impedes their ability to address some of these risks. Overall, most businesses feel that their supply chain risk management processes will score well above average, but there are still some ways to thrive.
In general, visibility, technology, and risk management are topics that will regularly become more prominent in 2020. Disruptive technology is seen as critical factors that enhance visibility and drive supply chain. Corresponding to the state of autonomy in the future, data management problems.
TSL helps businesses grow revenue
TSL brings an ecosystem chain from Blue Yonder, eliminating the headaches that companies are having in terms of business monitoring and logistics management.
That is synergy
By optimizing inventory operations and accurately managing, the Blue Yonder system has become an indispensable support tool for commercial businesses. Blue Yonder creates a considerable increase in profits for companies with a more accurate and scientific new management model.
TSL has brought the world’s most extensive Blue Yonder (JDA) warehouse management system to Vietnam. Helping Vietnamese businesses reach advanced technology that makes it easier to measure and control business activities ever.
TSL integrates the Blue Yonder (JDA) system with other management systems in the enterprise such as ERP, POS, HRM … to create a single reference source. A place to gather all information about the inventory control process and share useful insights. With Blue Yonder, there is no problem of overlapping and scattered data in the intermediary computer. Thanks to this, you can keep track of all the activities in your warehouse and make timely and accurate decisions.
There is no more human error
Previously, you had to headache because the process of importing data is very time-consuming, the data returned do not match, the wrong result, and now Blue Yonder solves all those difficulties for you.
By managing and sharing data automatically, Blue Yonder helps businesses reduce resources as well as manual data entry tasks. The system not only saves you time and money but also eliminates human errors during data entry.
And when the information always updates in real-time, you will never have to worry about inventory too large or not available for customers. Blue Yonder is an essential element to help you improve customer experience, eliminate unnecessary costs, and maximize profits.
All on an application platform
TSL brings the global ecosystem, including important information about warehouse management activities on an application platform, to help you monitor activities anytime, anywhere.
With a friendly interface, easy to use, you can flexibly perform tasks to better understand business performance from overview to detail.
Why choose TSL?
TSL brings new technology with the best services to help businesses change positively, breaking the barriers to integration, creating the foundation for further steps.
Easy to use: Use on cloud platforms, flexible and easy customization
Easy integration: Enables data connection from Blue Yonder with other systems, creating the most comprehensive reference source.
Save time and money: By automating data entry tasks, we help businesses save time, money, and valuable resources.
In-depth consultation: Selecting on TSL, you will be analyzed by leading experts on factors affecting business operations and offering the best plan.
Professional process: TSL provides a clear, transparent, and timely working process, ensuring benefits for businesses to use.
Reliable and accurate: Data transmission is safe, absolutely confidential and without any risks
Complete customer experience: TSL helps you manage your inventory better, always ready to supply enough goods to meet customer expectations, thereby improving their experience.
Growth & performance: We based on commodity management information to drive marketing campaigns, improving sales efficiency, and profit growth.
Always ready: TSL is the official partner of Blue Yonder in Vietnam. We provide advanced integration services and prepared to be available whenever you need us.
Report Source : Blue Yonder, Inc