Aberdeen Group's new research study "Supply Chain Visibility: A Critical Strategy to Optimise Cost and Service" reveals 63% of 149 companies with predominant global supply chains have ranked supply chain visibility as a high priority for improvement.
The top 20% best-in-class companies claim to be compliant to GS1 standards and track supply chain visibility at the item level.
The "Supply Chain Visibility: A Critical Strategy to Optimise Cost and Service" research study by Aberdeen Group senior analyst Bob Heaney details how increasing visibility is a critical strategy for enterprises – aimed at reducing costs and improving operational performance in the context of their increasingly complex and multi-tiered global supply-demand networks.
Aberdeen reports an unprecedented increase in the use of logistics service providers as supply chains become more globally connected. "At their core, supply chain visibility solutions aim to improve an organisations' ability to connect transport and logistics activities, and put universal standards – like GS1 enabling technology – to their most productive use," states Mr Heaney.
Key findings
The report emphasises the significance of GS1 standards:
The top 20% best-in-class companies claim to be compliant to GS1 standards.
Users who adhere to GS1 standards are more than twice as likely as others to monitor transport and logistics activities at the unit and container level.
Shippers and logistics service providers are tightly interconnected and need to speak the same language to enable end-to-end visibility
GS1 offers a range of standards, services and solutions to fundamentally improve efficiency and visibility of supply and demand chains. GS1 provides a standardised way to identify items and locations, to capture details about supply chain movements, and to share that information with authorised business partners.
"End-to-end supply chain visibility has never been more important for all involved parties to speak the same language," said Maria Palazzolo, GS1 Australia's CEO.
"As GS1 celebrates its 40th Anniversary, we can look back to all we have achieved to increase visibility in the global supply chain. And we are excited about the future as we work with our partners to reduce costs and improve operational performance within their organisations."
