Supply Chain Survey Says 55% of Manufacturers Lack Real-Time Monitoring
Cupertino, CA – April 17, 2015 – Ultriva recently conducted a survey of those in the logistics industry. More than half (55 percent) of the participants cited a lack of real-time monitoring as one of their major concerns. Poor visibility results in a number of issues including parts shortages, ignorance of how many items a retailer or manufacturer has at its disposal, and higher transportation costs as a result of poor inventory management. Ultriva Inc., a provider of cloud-based supply chain execution software, was recently featured in Genco Insights: Insights from the Leaders of Product Lifecycle Logistics. Lack of visibility is a pressing concern.
Ultriva founder and CEO Narayan Laksham acknowledged the importance of real-time visibility, which identifies when orders are sent, shipped, and delivered. This enables organizations to determine which suppliers are doing a solid job of sending goods in conjunction with purchases.
The need for transparency is bolstered by the prevalence of multiple suppliers. Basically, enterprises are procuring items from several partners for one of two reasons: to provide consumers with product and brand variety and to exercise greater control over item quality.