The modern supply chain is more transparent than ever before. Because of IoT (Internet of Things), shipments are seen in real-time. IoT devices are connected to systems through data and Wi-Fi. They come in many forms and provide the ability to enhance quality management throughout the supply chain.
But if this is true, why is it taking so long to receive product? While new capabilities are available, effective use of technology is essential—not just having it. Therefore, it is vital for companies to effectively use data to increase visibility and efficiency across their supply chain.
94 percent of Fortune 500 companies have seen disruptions since the pandemic. Institute for Supply Chain Management said that 97 percent of those surveyed have been or will be impacted by these disruptions, whether lead times, manufacturing capacity, inventory, etc.
Technology will continue to evolve as much as the demand for product. So, as 2022 continues, supply chains will become more crucial to business success. That's why it is more important to be proactive by enhancing end-to-end visibility.
Brennan provides several programs to help distributors at the beginning of the process—from order placement to shipment. For example, to reduce order errors, BI Verify confirms parts by weight and prevents production delays by ensuring you receive the correct part, every time.
Also, with Brennan's BI Supply, there is safety stock available to reduce disruption. This extra stock is maintained to mitigate the risk of running out of product due to uncertainties. So, you receive what you need, when and where you need it.
The distributor needs to know what is happening at every stage of the supply chain, which is why strong relationship with the supplier is essential. The manufacturer must provide real-time information to communicate clearly and help with order placement and on-time delivery of product.
Additionally, Brennan's BI Identify helps with the identification of parts being ordered. The team assists with labeling bins and confirming if there is a better alternative, which might be a custom or non-off-the-shelf product.
It is essential to integrate the required level of visibility into the process. That's why Brennan also has BI Perform, consolidating the number of suppliers used in production. This program provides cross-referenced Brennan part numbers to more than 30 competitor suppliers within the industry.
When the pandemic skewed behaviors, so did previous trends. Therefore, historical purchasing data will not help. Due to globalization and excellent connectivity, supply chains must grow into a vast network. The more visibility a distributor has by working with the supplier, the more successful both will be.
Minimize the wait and eliminate uncertainty by working with a supplier who can help. Enhanced transparency enables companies to access their supply chains to meet supply and demand, making data readily available. A modern supply chain will increase reliability and profitability by providing intelligent data, ultimately helping to create successful business outcomes.
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