You are the supply chain director for a computer company and are concerned about the amount of stockouts and unnecessary safety stock, not to mention the long delivery cycle times affecting customer service. You have been tasked with reducing inventory costs. In order to make your supply chain more cost-efficient, you have decided that you need total supply chain visibility of inventory.
Your supply chain consists of global suppliers that manufacture various components and subassemblies, your suppliers’ suppliers, and a distribution network managed by a number of independent service providers. It is therefore essential for you to have visibility of inventory and to receive alerts about potential interruptions in service. In addition, you should initiate appropriate corrective actions to ensure you satisfy your customers’ expectations.
Efficient supply chains are dependent on high-quality data and the availability of information on a timely basis. Lack of visibility of a shipment at any given time prevents you from taking action. Having inventory visibility allows you to improve your service quality, optimize inventory, as well as work content and job functions and thus eliminate waste.
In order to gain network transparency, you need to implement systems to share data and information with your supply chain partners. Knowing what data to share and how to share helps you to implement suitable visibility strategies and technology.
Successful networks are dependent on supply chain partners’ organization, culture, capability, and common vision and goals, especially relating to security and confidentiality. In addition, understanding roles and responsibilities enables you to implement policies and procedures, which allows your extended supply chain team to collaborate and deliver results.
Are you looking to gain inventory and product visibility to maximize supply chain efficiency? The Accenture Academy course Managing Commodity Volatility Using Network Transparency will provide you with the knowledge to effectively manage your inventory, minimize costs, and offer superior customer service to your customers.
Accenture Academy offers proven, cost-effective learning solutions for a more versatile workforce and a more agile organization. We provide a flexible learning approach that helps your people be more versatile and your entire organization be more agile in the marketplace. Curriculum includes Supply Chain Management, Finance, Procurement, Analytics, Leadership & Management and Specialty Skills.