Supply Chain Digital Magazine February 2023 | Page 46

RYAN CLOSSER DIRECTOR PROJECT MANAGEMENT & NETWORK COLLABORATION , FOURKITES

FourKites , which connects global end-toend supply chains through real-time visibility technology to help shippers , carriers , and 3PLs work better together .

Closser says : “ In many ways , supply chains are still catching up to the modern technological age , as the lack of real-time data and cross-company collaboration has consistently held back their advancement and evolution .

“ For example , if your inbound freight terms aren ’ t collected , you likely have no visibility into what ’ s coming into your facilities . This lack of visibility can lead to production delays and downstream stockouts at the point of sale .”

He adds : “ A transparent supply chain enables you to see everything , including whether shipments are in transit , in the warehouse or distribution centre , and where they will be later . Extending visibility into every corner of your supply network unlocks business value through a variety of benefits .”

Here , Closser runs us through some of the most valuable benefits .

Better strategic planning Few companies directly manage their entire supply chain , from raw materials to shipping finished products . By mapping the entire lifecycle and knowing where everything is at all times , companies can better plan for all possible scenarios .

This connection that exists between planning and reliable transit times allows us to be prepared for any change in volume and to attend to the urgency we may have in production changes .

Monitoring and benchmarking execution Visibility doesn ’ t just aid planning ; it ’ s critical for measuring the performance of your plan , to ensure that you can gauge the effectiveness of any changes you make in the future .

46 February 2023