What is Supply Chain Visibility?
In the past, the term “supply chain visibility” has been tied mainly to GPS and cargo tracking. However, with the advancement of telematics technologies, supply chain visibility now encompasses things like equipment performance information, fleet utilization data, and mileage and activity reporting. By combining various IoT devices, companies can gather valuable insights to help them understand customer demands, optimize supply chain processes, improve forecasting, and much more. Here are a few key benefits of this advanced technology:
More Accurate Maintenance Scheduling: Telematics data gathered from sensors strategically placed around a trailer can help fleets gain better insight into the true maintenance needs of their equipment. For instance, sensors in tires and ABS systems can provide true mileage and activity reporting that help fleets gauge maintenance requirements based on actual need rather than simply on timed maintenance intervals.
Improved Forecasting: In the past, companies have had to rely on historical records to predict future trends, forecast demand, and plant manufacturing schedules. This often proved to be inaccurate and resulted in costly surpluses or shortages of inventory. Thanks to new technology, however, companies now have access to supply chain analytics, real-time information, and a wealth of data to help make more accurate predictions and cut unnecessary costs.
Enhanced Agility: The ability to track where cargo is at any point in the supply chain also allows companies to quickly identify disruptors. By being able to see when cargo will be held up, companies can be more agile in their response by re-routing cargo and/or informing customers of any delays.
Better Customer Insight: With more visibility into the supply chain comes more insight into customer wants and needs. By analyzing the data collected through various IoT devices, companies can improve their products and services to provide their customers with what they want, when and where they want it.
While complete end-to-end supply chain visibility has not yet been achieved, it is on the horizon and it’s time to start preparing for it now. Check out how Great Dane is bringing trailers into the future with our advanced trailer telematics system, FleetPulse.