Real-time visibility in the supply chain remains one of the most essential yet overlooked aspects of supply chain management and planning. Today, too many companies lack the insight, transparency, and analytics needed to optimize supply chain operations.
According to a 2018 summary from Forbes, “While 94% of supply chain leaders say that digital transformation will fundamentally change supply chains in 2018, only 44% have a strategy ready. 66% of supply chain leaders say advanced supply chain analytics are critically important to their supply chain operations in the next 2 to 3 years.”
While that data is four years old, its value is still pertinent. Current supply chain leaders are even farther behind following the pandemic. The fallout from COVID-19 led to more companies embracing updated freight visibility plans, but it is still a significant weak link in transport logistics today. And eventually, it will result in a company either thriving or becoming a laggard in the industry.
Supply chain managers, shippers, and carriers require a steady and reliable flow of data and insights to optimize services. Creating a clear path to real-time visibility makes it simpler and easier to respond to disruptions and overcome obstacles that threaten your transportation management.
Using Historical Data to Find Increased Supply Chain Visibility
Good insight and visibility help management overcome many issues impacting transportation delays with easy strategy adjustments.
5 Real-Time Visibility Risks in Freight Transportation
The top five most common areas of concern for freight risks are:
- Origin points where a lack of data and insight leads to loading, documenting, and scheduling issues.
- Destination points where poor visibility causes errors in delivery, cargo damage, or customer load rejections.
- Port-to-port legs of the shipping process can cause problems without real-time tracking and monitoring.
- Drayage shipping and handling at the final destination can be chaotic and expensive due to poor visibility.
- Less-than-truckload transportation legs of the shipping journey can suffer significantly from poor load visibility.
While the transportation management industry is filled with hot topics, jargon, and critical phrases everyone likes to throw around, real-time supply chain visibility is far more important than achieving traditional efficiency standards. Continued growth and recovery rely on companies setting their path to real-time visibility and improving TMS integration and application.
True Real-Time Supply Chain Visibility Focuses on Actionable Insights
Actionable insights drive success, whether the focus is on contract or spot freight markets. For many, setting the path to real-time visibility involves collecting data and building predictive models to generate forward-looking insights. With this data-backed approach to freight visibility, actionable insights help shape the way forward for shipping and transportation companies.
As highlighted by Supply Chain Dive, “Roughly two years into the pandemic, companies are still left wondering when supply chains will get back to “normal.” Early indications suggest 2022 won’t be that year. Shortages, labor constraints, limited storage space, and soaring delivery rates are all expected to continue and create headwinds for shippers this year at a time when demand still remains high.”
Overcome Supply Chain Shortages and Improve Overall Visibility With Industry Experts
Logistics visibility and efficiency are the proper guideposts for growth and success. Setting a path to real-time visibility is critical for ongoing recovery in the face of unprecedented strains and disruptions throughout the supply chain.
Learn more about the value gained by integrating your TMS with real-time visibility capabilities in our ebook. Download it today to take a closer look at:
- Significant benefits of access to real-time data.
- Visibility features that enable improvements in shipment execution.
- Roles of machine learning and artificial intelligence in real-time supply chain visibility.
Discover how a leading TMS with real-time visibility can improve your logistics processes.