Building a Transparent Supply Chain

In this information age, people are eager to know more about the products they buy and are demanding high supply chain transparency. Consumers are willing to pay for the clarity compelling many brands and retailers to provide more in-depth information related to the products beyond what is mentioned on the product label.

By implementing greater supply chain transparency, companies are showcasing their integrity and responsibility towards their customers. The benefits of high level transparency are plenty including regulatory compliance and delivering ethical products with reduced shipping cost.

For e-commerce giants and retailers that sell thousands of manufactured goods and materials supplied by other companies, having transparency in the supply chain is a lucrative undertaking. Data provided by the third party suppliers play a key role in providing accurate information that ensures their products are manufactured as per standard rules and regulations. But not having this kind of transparency or proper information of the products can make your company vulnerable to lawsuits. Companies that fail to maintain transparency in their supply chain are also more likely to witness a decline in demand for their products, causing massive reputational damage and heavy financial loss.

Besides giving you the confidence to market your products in a more ethical way, transparency in the supply chain results in several key benefits for companies, partners, and even customers. Some of the major advantages include:

Improved fleet management:

Transparency in the supply chain enables you to deliver products in a more cost-effective manner while maintaining the quality and integrity of the products. If you are operating a fleet of two or more vehicles, then GPS enabled vehicle tracking will help you reach customers more efficiently.

These vehicles come with advanced mobile apps for drivers to help you track the exact status of your fleet at any given moment. Through GPS tracking, you can even access the whereabouts of the drivers and stay connected with them at all times. This eventually results in increased safety of the goods and as well as efficient performance.

GPS enabled vehicles also guarantee optimum usage of the resource by providing real-time information about the trucks that are either out for delivery or idle otherwise. The updated information enables you to make informed decisions and assign duties effectively. 

Improved Customer Experience: 

An electronic proof of delivery (PODs) serves as a key tool in enhancing supply chain transparency and end-to-end visibility in logistics. ePOD is a digital document that simplifies the process of collecting data and provides real-time updates to overcome any issues in the delivery process.

The process also leads to faster payments and elimination of manual work, resulting in enhanced customer satisfaction. In addition, ePoDs provide clear and accurate details for preparing invoices and capture rich history data for future reference. 

Reduced product wastage:

Yet another benefit of having supply chain transparency is the reduced amount of waste products. Since you have complete information about the performance of a specific product, you can easily maintain a balance between supply and demand. For instance, the manufacturing process can be stopped for products that are currently less in demand, thus reducing the wastage and saving the money.

Improved margins:

Increased product efficiency can help you save ample warehouse space and overcome the shortage of supplies during the peak season. This efficiently leads to an increase in profit margins and reduces the labour cost. Enhanced supply chain transparency also sends a positive signal to the new investors in the market about the integrity of your company.

In addition, transparency in the supply chain holds the potential to widen your networks within the sector. This enables the more efficient usage of the available resources when encountering challenges in sourcing. Transparency is also a key metric that can produce positive results for businesses and the communities in which they operate.