Supply chain transparency is a business process that involves increasing the flow of information across an organisation from any stage of the supply chain. The aim is to increase your transactional integrity with customers, suppliers, and external partners.
This can be achieved by implementing an Enterprise Resource Planning (ERP) system which can help you achieve organisational growth and profitability.
ERPs can have many positive effects on the transparency of a supply chain such as:
- Inventory management
- Complete lifecycle, field to fork traceability
- Real-time reporting
- Materials Requirements Planning (MRP)
- Ensuring compliance and quality
Supply chain transparency requires visibility.
With an integrated enterprise resource planning (ERP) solution in place, your business can have a single source system to manage order details, shipping and tracking information, finances, and invoicing.
This not only gives you better visibility into your orders, but it also gives you the ease of talking to your customers with greater confidence about their orders. Plus, managers and upper management executives have a greater oversight into every part of the supply chain with an integrated ERP solution so they can identify issues and find solutions much faster.
When it comes to supply chain management, your company has a lot of different variables to track. If any one piece falls out of the equation, you can easily end up losing profit. The best way to make sure that doesn’t happen is with ERP, or enterprise resource planning. By automating your supply chain and freeing up employees’ time for other tasks, you’ll be able to cut costs — and enhance profitability.
Supply chains are extremely complex, and businesses traditionally have had little access to data surrounding them. This makes it extremely possible for companies to track and trace materials, finished products and services from source all the way through to destination, wherever they are in the world.
Gaining transparency in your supply chain represents a real step forward towards enabling your business to achieve greater levels of operational efficiency.
ERP software has been the best solution for businesses looking to increase their supply chain transparency in order to make more informed decisions in real time.
Summary
Transparency is one of the most important benefits companies receive when they implement a solid ERP system. It’s easy to understand why supply chain transparency can be beneficial, but there are many unique ways in which it offers value. By automating the way an organization processes orders and manages inventory, supply chain transparency is achieved. Regardless of if a company sells through retail stores, online, or both channels, supply chain transparency allows them to comply with customer demands and industry regulations in the most efficient method possible.
Signum’s SAP Business One solution is an Enterprise Resource Planning (ERP) system that allows you to stop being in the dark about your supply chain. We help you connect your enterprise to suppliers and customers seamlessly, contact us for more details.
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