Supply chain visibility is the ability to track the movement of goods and materials through every stage of the supply chain, from the raw materials suppliers to the end customer. It is a critical aspect of managing a successful business, as it enables them to optimise their operations, reduce costs, and improve customer satisfaction.
In fact, McKinsey has identified end-to-end (E2E) visibility as one of the three key ingredients for resilient supply chain planning, saying that “companies can manage their supply chains only when they have a clear picture of each link.” In their 2022 survey of supply chain leaders, 67% of respondents reported having implemented software for end-to-end supply chain visibility. And those companies were twice as likely as others to avoid supply chain problems caused by the disruptions of early 2022.
There are several technologies and tools that allow businesses to track the movement of goods in real time, monitor inventory levels, and identify any issues that may arise. But the ability to analyse and translate that data into actions is critical – and that’s where inventory optimization software comes in.
Our AGR software uses advanced algorithms and analytics to help businesses optimize their inventory levels and improve their overall supply chain operations through:
- Real-time data analysis: Analysing data from various sources in real-time, giving businesses a clear view of their inventory levels and the movement of goods through the supply chain. This helps businesses identify any issues that may arise and take corrective action quickly.
- Forecasting: Using historical data and predictive analytics to forecast demand, allowing businesses to plan their inventory levels more effectively. This helps reduce the risk of stockouts or excess inventory, improving overall supply chain efficiency.
- Collaboration: Allowing businesses to collaborate with suppliers and other partners in the supply chain, sharing data and information to improve visibility and optimize operations. This can result in cost savings and improved efficiency for all parties involved.
- Automation: Automating many of the manual tasks involved in managing inventory, reducing the risk of errors, and improving accuracy. This can help businesses save time and improve their overall supply chain operations.
- Scenario planning: Enabling businesses to simulate different scenarios and evaluate the impact of various decisions on their inventory levels and supply chain operations. This helps businesses make informed decisions and respond quickly to any disruptions that may occur.
We also make sure that all your data is at your fingertips, visible in one place. The item card aggregates key information for every SKU, both graphically and numerically. Combining the historic sales and stock development with the future sales forecast, undelivered orders coming in, expected stock out date, sales orders, and safety stock level, enables users to make agile, efficient, and informed decisions.
To discover more reasons companies choose AGR, click here.