Enhancing Supply Chain Transparency with Real-Time Visibility Platforms
As technology continues to improve, large companies and supply chain manufacturers have more opportunities to expand their businesses and reach more customers with their products. With this power comes responsibility, calling for transparency in supply chains.
Reliable tracking systems must be implemented to enhance supply chain transparency and ensure businesses and customers get the accurate information they need. Real-time visibility platforms (RTVP), new technology and optimized data collection can create more visible supply chains.
What Is a Real-Time Visibility Platform?
Real-time visibility allows for the tracking and monitoring of products and goods, from pickup to delivery. With real-time data, all steps involved in the supply chain process are receivable, making it much easier for large companies to provide honest product and transportation details.
Real-time visibility platforms are the software tools and technologies that make this data possible. RTVP gathers data based on live updates on product location and status.
What Technologies Play a Part in Real-Time Visibility?
Like many things today, real-time visibility would not be possible without technology. As systems continue to grow, so does the potential for full transparency.
Many technologies work together to make real-time visibility possible. The following are some of the tools used to streamline processes and maximize supply chain transparency:
1. GPS
GPS technology has become an integral part of the real-time visibility process and enables RTVP to track objects for accurate data. GPS technology uses satellite signals and signal reception to capture the location of items, roads and buildings, and it sends this data back to our devices.
GPS technology does wonders for the transportation industry. By accurately tracking trucks and other transportation vehicles, we can watch products travel from point A to point B and make decisions based on their location.
2. AI
Artificial intelligence has entered many realms of society, including the supply chain. Fortunately, AI makes RTVP possible for various transparency purposes.
AI considers all factors and works alongside humans to enhance decision-making and efficiency, leading to a faster, safer and more honest supply chain. AI also powers advanced analytics to help humans and businesses analyze real-time data, making it applicable to all industries.
3. Internet of Things (IoT)
IoT creates a robust network that allows data to flow freely and improves connection and communication between different devices. Through this created network, IoT can narrow down specific items and points of data to share information and even make decisions.
From quantity to fulfillment, IoT processes data through algorithms that contribute to accurate, real-time visibility.
4. Blockchain
Blockchain acts as a safety tool for RTVP, “blocking” hackers and other forms of data manipulation. There are four main types of blockchain: public, private, hybrid and consortium. Each form creates a securely shared network of data that allows parties to communicate.
Blockchain allows equal access for all parties, and there is no single network owner. This provides for ethical, open movement throughout the supply chain and adds transparency to traditional supply chains.
Why Implement a Real-Time Visibility Platform?
Real-time visibility platforms provide endless benefits to supply chain industries. RTVP acts as a high-functioning network of technology and intelligence to help businesses identify areas for improvement and solve problems in all areas — from ethical to logistical.
With RTVP, there is no shortage of possibilities. The following are four benefits of implementing a real-time visibility platform:
1. Ensure Customer Satisfaction
Without RTVP’s technology, product location and safety are unknown to businesses and customers. When companies implement a real-time visibility platform, “the unknown” is eliminated. With access to knowledge such as when and where their goods will arrive, customers know exactly what to expect.
RTVP shares information with customers they previously did not have access to, such as ETAs and tracking details. The more customers know, the happier they will be!
2. Speed up Reaction Time
RTVP gives companies the power to detect precisely when and where disruptions occur, from departure to arrival. If an issue arises along the way, businesses know in real time, allowing them to immediately develop a direct course of action.
Companies can mitigate risks with transparent access to data, which reduces wasted time spent planning strategies and reacting to issues. RTVP allows for the tracking of delays, traffic, congestion, weather and anything else that could pose a potential threat.
3. Reduce Costs
Implementing a real-time visibility platform provides many financial benefits. Companies have access to trucks and products, allowing them to see available capacity and, in turn, utilize all available space. This creates sustainable, efficient transportation and also cuts costs.
Many industries are now dealing with labor shortages, rising material costs and an ever-changing risk landscape. With RTVP, industries can detect traffic, weather conditions and other risks to product transportation, reducing the risk of unnecessary financial burdens. With saved time and money, industries can focus on solving more significant issues.
4. Improve Relationships
RTVP uses technology to improve relationships between all parties involved. With transparency and proper information sharing, people can access honest details, avoiding the risk of being blindsided or misinformed.
Transparency positively impacts shippers, managers, workers, clients and customers, resulting in better collaboration and more satisfied people. RTVP also enhances communication, allows for honest lane sharing and improves handoffs and business interactions.
Use RTVP for Supply Chain Transparency
RTVP allows supply chain leaders and manufacturers to stay ahead of their industry and interact with advanced modern technology. Businesses can work hand in hand with real-time data to make their processes more efficient and keep customers satisfied. With RTVP, transparency is possible.
***This article is written by Jack Shaw. Jack is a seasoned automotive industry writer with over six years of experience. As the senior writer for Modded, he combines his passion for vehicles, manufacturing and technology with his expertise to deliver engaging content that resonates with enthusiasts worldwide.
