Benchmarking Supply Chain Visibility Software in 2023

Studies (Figure 1) show that modern supply chains are more complex than traditional ones and require a different management approach.

Figure 1. Research shows that modern supply chains require a different approach.

A holistic view of your supply chain is critical to achieving resilience, agility and sustainability, which is why it has become one of the top priorities for supply chain leaders, Figure 2.

Figure 2. Top priorities of executives according to the survey

By using sophisticated supply chain visibility software, companies can overcome challenges, streamline operations, and ultimately achieve success.

To help supply chain leaders gain a clear view of their value chain, this article includes:

• The importance of supply chain visibility
• How modern software can help you
• 6 Factors to Consider When Choosing the Right Vendor
• A comparison of the best supply chain visibility solutions on the market.

What is supply chain visibility?

Supply chain visibility is the ability to track and monitor all aspects of your supply chain in real time, from raw materials to finished products. This level of oversight allows businesses to identify potential issues, improve processes, and make informed decisions. In an increasingly globalized marketplace, a clear understanding of your supply chain is more important than ever.

Click here to learn more about how to improve your supply chain visibility.

How can modern software help overcome supply chain visibility challenges?

Supply chain visibility tools offer a range of features that help businesses address common challenges such as:

• Limited access to information
• Displayed data
• mechanical processes

By centralizing and analyzing data, these solutions provide actionable insights that enable organizations to improve efficiency, reduce costs, and enhance customer satisfaction. Here’s how advanced supply chain visibility software can transform your operations:

1. Real-time tracking: Monitor every aspect of your supply chain, from inventory levels to shipment status, and make informed decisions on the fly.
2. Advanced Analytics: Identify trends, uncover hidden opportunities and predict future demand using sophisticated algorithms and machine learning.
3. Collaboration tools: Streamline communication and coordination between suppliers, manufacturers and logistics providers.

Research shows that companies using software that offers dashboards for end-to-end supply chain visibility are twice as likely to overcome supply chain challenges in 2022 (Figure 3). The study also shows that approximately 74% of respondents have adopted supply chain visibility technologies and are focusing digital efforts on demand planning.

Figure 3. Supply chain visibility dashboards help achieve supply chain resilience.

sponsored

Read how UCBOS, a codeless platform provider, helped a leading consumer goods company improve supply chain visibility through mapped assets.

To maximize the benefits of supply chain visibility software, it’s important to choose a solution tailored to your business’s unique needs. Here are the top five factors to consider:

1. Customization and user friendliness

Customization and ease of use are important factors when choosing supply chain visibility software. For example, a solution that is intuitive and easy to navigate will allow for a smoother transition and reduce the time it takes your team to familiarize themselves with it.

You can consider no-code or low-code solutions depending on your needs and digital comfort level.

Example

For example, a retailer may not have a team with coding capabilities and still require a high level of customization to integrate its system with its suppliers. In this case, it can benefit from a code-free platform.

2. Integration with supply chain management (SCM) platforms

The effectiveness of your supply chain visibility software relies heavily on its ability to integrate with your existing supply chain management (SCM) platforms. Seamless integration allows the software to access and analyze data from multiple sources, providing a comprehensive view of your supply chain. Look for solutions that offer pre-built integrations with popular SCM platforms or custom integration options such as low or no-code capabilities.

Example

Suppose a clothing manufacturer uses an ERP system to manage purchasing and production processes. To ensure a smooth transition, they should choose supply chain visibility software that integrates with their existing ERP system.

3. Number of employees of the seller

Bigger is not always better. Some studies¹ It is assumed that small, medium-sized businesses or SMBs can offer a more personal and customized service because they prioritize customer service.

Therefore, make sure the vendor has a reliable minimum company size (ideally 25+ employees) and check their customer service capabilities before making any commitments.

4. Type of solution offered

There are different types of supply chain visibility software, each offering different features and capabilities. Some solutions focus on specific aspects of the supply chain, such as inventory management, while others provide end-to-end visibility into all processes. Consider your organization’s specific pain points and goals when evaluating vendors.

Example

A global manufacturer wants to optimize inventory levels and reduce carrying costs. It should prioritize solutions that offer robust inventory management features such as demand forecasting and automated replenishment.

5. Industry specific requirements

Different industries have unique supply chain challenges and requirements. For example, the pharmaceutical industry must adhere to strict regulations regarding product traceability, while the automotive industry requires seamless coordination between multiple suppliers and manufacturers. Choose a platform that understands the complexities of your industry and offers customized solutions to meet its specific needs.

Example

Consider that a pharmaceutical manufacturer needs a solution to help them comply with regulations such as the Drug Supply Chain Security Act (DSCSA). He should prioritize software that offers features such as serial number tracking and electronic legacy documentation.

6. Customer support and training

Implementing new supply chain visibility software can be a complex process that requires thorough training and ongoing support. Evaluate the quality of customer service offered by the software provider, including their responsiveness, experience and availability. Additionally, consider available training resources, such as webinars, tutorials, and dedicated account managers, to provide your team with an onboarding process.

Example

A logistics service provider or LSP wants to train its staff on a new AI-powered real-time shipment tracking system. He should choose a provider that offers comprehensive training materials and responsive customer support to help the team quickly adapt to the new solution.

A comparison of the best supply chain visibility software vendors on the market

selected criteria

Criteria selected for this comparison include customization based on low/no-code capabilities, integration with SCM platforms, and headcount. These criteria were selected based on data availability.

The remaining 3 criteria (type of solution offered, industry-specific requirements, and customer support and training) should be evaluated by customers when they contact vendors. Since these 3 criteria are specific to business needs, they may vary from company to company.

Table 1. Vendor comparison

Notes (Table 1):

• Based on the seller’s claims: *
• Not all inclusive: **
• The vendors compared in this table were selected based on the relevance of their offerings and 25+ employees.

Transparency Statement

AIMultiple serves a number of emerging tech companies, including UCBOS.

conclusion

Choosing the ideal supply chain visibility solution is a critical step in optimizing your business’s supply chain operations. By considering the factors outlined in this article and the vendor comparison chart, you can make an informed decision that puts your organization on the path to success.

follow up question

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References

1. Mito (November 16, 2022). Omnichannel messaging is critical to a positive customer experience, say two-thirds of SMBs. Accessed: 05/May/2023

Shehmir Javaid is an industry analyst at AIMultiple. He has a background in logistics and supply chain management research and enjoys learning about innovative technologies and sustainability. He completed an MSc in Logistics and Operations Management at Cardiff University and a BA in International Business Administration from Cardiff Metropolitan University in the UK.