For UK third-party logistics (3PL) companies, mastering supply chain visibility can make all the difference in optimising processes, enhancing customer satisfaction, and staying competitive in a rapidly changing marketplace, and as experienced logistics management experts, VLT Logistics know all about it.
What is supply chain visibility?
Supply chain visibility refers to the capability of companies to view and track the progress of items at every stage of the delivery process. It involves gathering data from various sources, including suppliers, manufacturers, distributors, and carriers, and using advanced technologies like IoT sensors, RFID tags, cloud-based platforms and satellite tracking to determine the precise location of materials and products.
Advanced systems can allow such a high level of visibility that you can watch the progress of delivery lorries as they move along the supply chain.
The benefits of supply chain visibility
1. Improved inventory management
With real-time visibility into inventory levels and locations, companies can better manage stock levels, reduce excess inventory, and prevent stockouts. This leads to lower holding costs and improved order fulfilment rates.
2. Efficient risk management
By anticipating potential disruptions, such as weather events, supplier delays, or transportation issues, companies can implement contingency plans and alternative routes to minimise the impact on operations.
This creates resilience and contributes to future planning and the reduction of financial loss.
3. Data driven decisions
With access to comprehensive supply chain data and analytics tools, companies can make informed decisions based on real-time insights rather than guesswork or intuition. This can likewise provide a competitive advantage over competitors.
With effective management of data, 3PL companies will only provide clients with the exact data required to inform decisions, allowing you to make reasonable adjustments without becoming overwhelmed by the data.
The data gained from real-time visibility can improve the following areas of business operations:
- Inventory management strategies
- Addressing the inefficiencies along the supply chain
- Disruption to production and manufacturing
- Keeping customers informed of inconsistencies
4. Reduces reputational risks
The transparency and clarity that supply chain visibility affords gives businesses the ability to respond promptly to changes, and inform consumers of any delays before it impacts your reputation.
End to end visibility
Supply chain visibility is now a baseline requirement for any logistics company, regardless of whether they are in-house or outsourced. Every delivery company, whether they are a B2C e-commerce courier or distributing resources from overseas, will be familiar with the broad range of tracking options available.
The most beneficial way to implement supply chain visibility strategies is to remain transparent and honest across customer communications and business operations, as well as ensure that visibility is end-to-end.
At VLT Logistics, our commitment to end-to-end visibility allows us to continually enhance the following on your behalf:
- Predict and avoid disruptions
- Increase the speed of operations and delivery
- Improve customer satisfaction by meeting expectations
- Create a more agile and flexible chain
- Use data to drive results leading to greater supply chain success
Why visibility is key
Supply chain visibility allows planning and predictability that is crucial to the operation of businesses.
It enables companies to gain insights into the movement of goods, identify potential disruptions to operations, and make informed decisions to mitigate risks and optimise resources where delays occur.
By implementing supply chain visibility strategies such as real time data warehousing and real time pod capture, we at VLT Logistics can ensure that your goods are protected and visible to you at every stage of the supply chain.