Supply Chain Visibility Tops List for Corporate Improvements
Independent research reveals dramatic rise in end-to-end standards/solutions
June 10, 2013 - Aberdeen Group’s new research reveals 63 % of 149 companies with predominant global supply chains have ranked Supply Chain Visibility as a high priority for improvement. The top 20% best-in-class companies claim to be compliant to GS1 Standards and track supply chain visibility at the item level.
The “Supply Chain Visibility: A Critical Strategy to Optimize Cost and Service ” research study by Bob Heaney, Senior Analyst, at Aberdeen Group details how increasing visibility is a critical strategy for enterprises - aimed at reducing costs and improving operational performance in the context of their increasingly complex and multi-tiered global supply-demand networks. Aberdeen reports an unprecedented increase in the use of Logistics Service Providers as supply chains become more globally connected.
Aberdeen Group Senior Analyst Bob Heaney says increasing visibility is a critical strategy for enterprises aiming to reduce costs and improve operational performance in complex and multi-tiered global supply-demand networks.
“At their core, supply chain visibility solutions aim to improve an organisations' ability to connect transport and logistics activities, and put universal standards - like GS1 enabling technology - to their most productive use,” Heaney says.
The report emphasizes the significance of GS1 Standards
- The top 20% best-in-class companies claim to be compliant to GS1 Standards.
- Users who adhere to GS1 Standards are more than twice as likely as others to monitor transport and logistics activities at the unit and container level.
- Shippers and Logistics Service Providers are tightly interconnected and need to speak the same language to enable end-to-end visibility
GS1 offers a range of standards, services and solutions to fundamentally improve efficiency and visibility of supply and demand chains. GS1 provides a standardised way to identify items and locations, to capture details about supply chain movements, and to share that information with authorised business partners.
“End to end supply chain visibility has never been more important for all involved parties to speak the same language,” states Miguel Lopera, GS1 President & CEO. "As GS1 celebrates its 40th Anniversary, we can look back to all we have achieved to increase visibility in the global supply chain. And we are excited about the future as we work with our partners to reduce costs and improve operational performance within their organisations.”