Modern supply chains are large, fast-moving networks that involve many stakeholders, performing a range of functions. For leaders to quickly identify and resolve issues, accurately monitor supply chain performance, and identify pinch points they need granular visibility of what is happening across the supply chain network.
Supply chain leaders are faced with two major challenges: Achieving visibility across multi-stakeholder networks and deriving actionable insights from the data they have.
Two-thirds of supply chain leaders have limited or no visibility across their supply chain. Visibility is data. Whilst there is a huge amount of data generated across supply chain networks, businesses struggle to capture the actionable insights they need:
Data is often fragmented, across multiple systems, often owned, operated, and controlled by separate organisations;
For visibility to be achieved, and actionable insights captured, data must be brought together and analysed as a whole.
These challenges are most prevalent in parts of the supply chain where goods move between stakeholders, given the interdependency between them. Directly integrating the various systems across the supply chain is simply a non-starter. They are separate systems, owned, operated, and controlled by independent organisations.
Leaders have also tried using Internet of Things (IoT) devices to track and monitor consignments. These technologies essentially provide a single domain with data throughout the network however, present other challenges such as cost and retrieval.
A new approach is needed. One which offers a way to leverage the data present across the supply chain network, from the various systems in use, whilst protecting privacy, security, and retaining respective domain ownership. The solution must also orchestrate the data to form singular data products from which visibility can be obtained and actionable insights can be drawn.
