Enterprises with a global footprint have to work closely with local distributors and suppliers. However, the complex supply chain network and technology immaturity give rise to multiple issues; hence bringing all parties on the same page became a major roadblock. Also, the tech maturity of one distributor vastly differs from the other.
The absence of supply chain visibility, poor consistency, and quality in data transfer reflect inaccurate secondary sales numbers and inventory situations for businesses.
Any informed business decision is quite impossible in the absence of relevant data.
Hence, when we speak about increasing supply chain visibility, we imply the availability of granular data carrying information about the supply chain network. Data in the shape of numbers, graphs, emails, invoices, and others capture subtle nuances in the process, challenges, and missed opportunities. This This information is scattered across different documents, PDFs, emails, or so carry valuable insights, which, when analyzed, can help in better decision making. Furthermore, since the data reflects an accurate picture of the entire process, one can easily understand what is happening against what is perceived to be happening.
Let’s walk through the challenges enterprises face when working with a global supply chain.
According to market statistics, nearly 65% of procurement leaders have limited visibility beyond tier 1 suppliers. Poor or limited visibility is a significant hindrance when businesses need real-time data to strategize, forecast, and implement plans. Approximately 76% of CFOs agree that it is impossible to meet business objectives without knowing the two versions of the same truth.
Poor visibility makes data capturing a real challenge. Likewise, the supply chain network complexities remain hidden from sight in the absence of accurate data. Both are directly and indirectly connected to one another.
Below are a few challenges that arise from poor visibility of your global supply chain network.
Our client, a Fortune 500 firm and the world’s largest snack company, had to work with a complex supply chain network of distributors closely.
In the absence of a proper global supply chain management solution, the client faced several challenges, a few of which are mentioned above. Hence, they could not project future sales and forecast inventory situations without ground data. The lack of supply chain visibility and disparity in technological maturity among distributors and vendors compelled the client to seek help elsewhere.
The client needed a globally scalable data exchange platform for their fast-growing Indonesia and Malaysia markets. They were looking for an AI-based supply chain management solution to cater to the following requisites:
TradeEdge Market Connect helped increase supply chain visibility, thereby enabling the client with a complete view of the supply chain network.
TradeEdge Market Connect, a turnkey cloud-based solution backed by a robust service-level agreement (SLA), is designed to improve supply chain visibility for exchanging, cleansing, and harmonizing business data. Further, TradeEdge provides a usage-based pricing model with low capital expenditure, keeping in mind affordability in developing and emerging markets.
TradeEdge Platform features:
Supply chain visibility is imperative for businesses with a global footprint to forecast future sales and make data-driven decisions. However, a disjointed distributor-supplier-retailer network in emerging markets and technological immaturity can significantly hinder global brands from competing with local ones and surviving.