Enhanced analytics, machine learning, and automated options for pricing, booking, and documentation, among other capabilities lead to various advantages of working with a 3PL to Improve Supply Chain Visibility.
Multi-echelon inventory optimization (MEIO) is a supply chain management technique that allows companies to forecast stock levels across their various distribution and warehousing sites. MEIO’s goal is to ensure that the correct amount of merchandise is available at the right time and at the appropriate location.
The “Control Tower” is responsible for collecting and storing real-time data from the company. By integrating artificial intelligence technologies to execute real-time analytics, it provides a single point of contact for all data points, enhancing supply chain visibility.
Physical assets, systems, processes, and gadgets are digitally replicated as “Digital Twins”. Real-world data is sent into the twins, allowing them to recreate the physical device in real time and provide insights into performance and potential problems. It ensures better management of inventory control, distribution, and transportation goals.
Workforce visibility aids in managing seasonality, recognizing the peak of additional manpower required, and ongoing availability.
Supply chain visibility will be a crucial differentiator for leading organizations in the future, especially in the event of a disruption. While it’s vital to set high expectations, it’s equally critical to create flexibility so that those objectives can be reached and even exceeded.