Do you know what supply chain leaders think is the most important area of technology to invest in? It’s supply chain visibility. Not future technologies, such as drones or artificial intelligence, but rather, the technologies currently available to improve supply chain logistics, from manufacturer to customer.
The State of the 3PL Innovation Survey by Kenco Innovation Labs revealed that 83 percent of supply chain executives currently plan to invest in ways to improve supply chain visibility. In fact, 64 percent view technologies for improving supply chain visibility as a high priority. To accomplish those improvements, they are seeking out reliable solutions for streamlining the supply chain processes for their businesses. They are not quite ready to embrace future innovations.
According to Kenco, “Despite the promise that the future holds and their interest in progress with emerging technologies, supply chain leaders are most interested in adopting innovation for today… they can’t afford to take a gamble on a new technology that might slow down their processes – or fail entirely. They want to adopt new solutions that have been tested, with a proven ROI.”
Certainly, one of those reliable technologies is an inventory management system for tracking inventory, from manufacturer to warehouse or stockroom, to customer. That flow, especially in today’s marketplace, is crucial to business success. One kink in the supply chain due to poor inventory management can lead to damaging outcomes, which falls directly on the consumer’s perception of a brand. An inventory management system can effectively balance control of the flow.
If you are looking to improve supply chain visibility for your business, check your inventory management strategy to make sure it is operating seamlessly. Perhaps it would be wise and timely to contact an inventory management service for a review.