In the context of an organization, better operational visibility is achieved by having access to better operational data, to support decision-making with analytics and to improve operational capabilities and customer service. Real-time visibility requires this information to be updated with high frequency, ideally to the second. It’s easy to imagine why this could be desirable.
It’s made possible by a network of IoT devices, able to track location data, as well as other types of data, and transmit it in real-time to powerful software platforms. Leveraging machine learning algorithms and sophisticated data transformations, predictive insights can be delivered back to users, such as highly accurate ETAs and anticipated delay notifications, or used to power new process automation to streamline operations.
IBM reports that 87 percent of CSCOs find it extremely difficult to predict and manage supply chain disruptions and 84 percent say a lack of visibility is their biggest challenge. In addition, Gartner found that supply chain visibility is the top funded investment initiative prioritized for 46% of organizations. This is no surprise, given real-time visibility offers significant competitive advantages.
Implementing a real-time visibility solution across supply chain transportation can unlock dozens of major organizational benefits, some more relevant to certain industries than others. Here are six common ways real-time visibility assists organizations with their supply chain transport execution.