As the demand for rapid service and complete visibility throughout the supply chain continues to grow, supply chain executives are recognizing the importance of investing in visibility capabilities. Jeffrey Luft, a portfolio development executive at Siemens Digital Logistics, emphasizes the value of this investment. According to him, measuring performance is crucial for improvement, as customers expect to know the status of their orders and manufacturers rely on timely deliveries for production.
One way companies can improve operational efficiency is by leveraging data. By utilizing a digital twin – a virtual representation of the supply chain – businesses can experiment with different scenarios before implementing the most effective strategies in reality. This allows them to optimize their operations and provide faster service to their customers.
However, convincing company finance officers to invest in visibility systems can be challenging. Jeffrey Luft suggests that one way to demonstrate the value of this investment is by using a digital twin. The speed of return on investment depends on the resources allocated to the implementation. It’s also important for companies to involve experts from various disciplines within the company in order to optimize their supply chain and ensure success in the long run.
In conclusion, visibility is becoming increasingly important for supply chain executives as they strive for rapid service and complete visibility throughout their operations. By investing in visibility capabilities and utilizing data-driven solutions like digital twins, companies can enhance operational efficiency and provide faster service to their customers while mitigating risks and ensuring a successful outcome in the long run.
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