Supply chain disruptions can cause significant losses to businesses, and the recent geo-political developments have highlighted the importance of having a resilient supply chain that can weather disruptions effectively.
Most company’s supply chains were heavily affected in the disruptions of the past and although things are getting back to normal, lessons have been learned. Instead of optimizing for the cheapest supplier from China, companies are now reflecting on reducing this type of risk by seeking alternative suppliers, bringing steps of the value chain closer to the customer and rethink their storage and warehousing strategy.
To avoid production losses or missed revenue by being unable to ship, it is essential to have a supply chain that can quickly adapt to changes and mitigate potential risks. Achieving supply chain visibility is the first step towards achieving supply chain resilience. It helps to identify potential risks and plan for contingencies.
Here are ways how limbiq helps supply chain managers better manage disruptions and achieve supply chain resilience:
Deviation management in limbiq helps to identify deviations from the plan and take corrective action. It provides real-time alerts, enabling managers to take corrective action promptly. It also helps to track the progress of corrective actions and ensure that they are completed on time. With deviation management by limbiq, supply chain managers can quickly identify potential disruptions and take steps to prevent them from affecting the supply chain.
Shipment tracking in limbiq provides real-time visibility into the location and status of shipments. They help to identify potential delays and take corrective action to ensure on-time delivery. Shipment tracking also provide alerts for potential disruptions, enabling managers to take proactive measures to mitigate risks. With shipment tracking, supply chain managers can quickly identify the status of shipments and take steps to prevent delays or disruptions.
Partner communication in limbiq facilitates communication between different partners in the supply chain in one central platform. It enables real-time collaboration and information sharing, helping to identify potential risks and take proactive measures to mitigate them. With partner communication in limbiq, supply chain managers can quickly communicate, share all relevant documents with partners and gain insights into potential risks.
SKU-level visibility in limbiq provides real-time visibility into inventory in transit and order delivery status at the SKU level. When supply chain managers want to know where a specific article is right now, limbiq has the answer. This enables supply chain managers to identify potential stockouts and take corrective action to avoid disruptions. SKU-level visibility tools also help to optimize inventory levels, reducing the risk of excess or inadequate inventory.
Cost-Tracking at Shipment Level
Cost-tracking in limbiq provides real-time visibility into the cost of shipments. This enables managers to identify cost overruns and take corrective action to optimize costs. It helps to identify potential cost savings opportunities, enabling managers to reduce costs and improve profitability.
How Resilience leads To Agility in SCM
An agile supply chain powered by a digital platform like limbiq can help businesses achieve supply chain resilience. It enables real-time visibility, collaboration, and information sharing, enabling managers to identify potential risks and take proactive measures to mitigate them. An agile supply chain also helps to optimize inventory levels, reduce costs, and improve profitability. With an agile supply chain, businesses can quickly adapt to changes and manage disruptions effectively, gaining a competitive advantage in the market.
In conclusion, managing supply chain disruptions is critical to the success of any business, and the tools mentioned above can help supply chain managers better manage disruptions and achieve supply chain resilience. By adopting an agile supply chain powered by a digital platform and utilizing these tools, businesses can improve their supply chain performance, reduce risks, and gain a competitive advantage in the market.
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