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Nine years ago, my company FourKites pioneered the market for real-time transportation visibility. And in the intervening years — as we’ve leveraged real-time data, ML and AI to help countless companies answer the “where’s my truck” question — I’ve continued to underscore that visibility is a foundational technology.
While SAP has had procurement analytics solutions, last year at Spend Connect Live, SAP announced the Spend Control Tower. Daniel Chapman, the senior director of process transformation for procure to pay at Warner Music, was a keynote speaker. This solution provides insights in a much easier way to digest.
Today’s article comes from Matt Elenjickal, Founder and CEO at FourKites, and looks at redefining real-timevisibility. When you look at the real-time supply chain visibility market of several years ago, it was all about solving or addressing foundational use cases: Where’s my shipment? What’s my ETA?
FourKites CEO, Matt Elenjickal One of the two leaders in the real-time transportation visibility market is FourKites. ARC considers real-timevisibility solutions, like the one from FourKites, one type of SCCN solution. I attended my first Visibility conference in 2020. That is fast growth.
Readers will also find key suggestions from procurement leaders in the healthcare space on how to prepare for the future. Key Takeaways: 68% of respondents rate their organizations' visibility into the supply chain as either "strong" or "complete".
We now have complete visibility of our supply chain. We can run a plan simulation to maximize revenue, maximize shipments, maximize the customer experience, or minimize transportation costs. Once a contract is in place, we have real-timevisibility on the delivery status. We have full visibility.
That supply planning application needs to be integrated into an array of internal systems ERP, transportation management, warehouse management, procurement, and other applications. Now companies are trying to collect data from multiple tiers of a supply chain in near real-time.
Procuring transportation for freight is much different than any other procurement category. Transportation procurement needs to support both customer service and a company’s internal supply chain goals. One master of freight procurement is Kyle Masters. Procurement ran a request for proposal event.
Traditionally, procurement has been a process weighed down by manual tasks, fragmented systems, and endless paperwork. Today, procurement is undergoing a transformation. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact.
Real-time transportation visibility platforms tell shippers and their broker/carrier partners where their freight is at any point on its journey. Until we have this kind of pervasive visibility, inventory management will continue to be largely an exercise in futility. Digital transformation is the formula.
Sudden tariff increases can quickly make a cost-optimized procurement strategy untenable, leaving companies scrambling to adjust. Second, many supply chains still lack visibility beyond Tier-1 suppliers. The ability to pressure-test decisions before committing real resources significantly improves response quality.
Their IT infrastructure was also highly heterogeneous and provided no standard business processes or real-time reporting. Meanwhile, customers’ procurement operations were seeing a new generation of talent come of age who were pushing for better value-added services and shipmentvisibility.
To test the thinking and visibility of his students, Socrates held up a white ball in front of his student and asked, “What color is the ball?”. Next time, before you answer,” said Socrates, “examine both sides.”. Indeed, who couldn’t benefit from improved transportation visibility? Real-Time Transportation Visibility Defined.
One of the most powerful tools in modern supply chain management is the Control Tower, which offers a comprehensive, real-time view of the entire supply chain and is the single source of truth for the latest developments on the demand and supply side. What is a Control Tower?
Blockchain technology is supporting this by providing a secure, decentralized, and tamper-proof method for real-time product tracking. FDAs Drug Supply Chain Security Act (DSCSA) and global standards like ISO 20400 for sustainable procurement are driving companies to adopt blockchain for improved compliance and accountability.
Supply chain efficiency is the cornerstone of success and involves the effective management of processes, resources, and technologies from procurement to production, transportation to warehousing. In the automotive sector, manufacturers are simultaneously reducing inventory costs and delivery times.
Experts from North Carolina State University and GEP conducted a survey on supply chain, procurement and IT leaders to determine their challenges and priorities, focusing on examining gaps in the supply chain. The study found that these leaders considered the largest gap to be between supply chain and procurement, citing it as a major issue.
The pandemic has exposed flaws in business practices across industries, which have been acutely felt in their supply chain and procurement operations. Of the professionals surveyed, 59% saw the gap between procurement/sourcing and supply chain to be a major disconnect, and the most pressing pain point.
Complete visibility into inventory. Better inventory management requires visibility at a granular level, down to individual orders and SKUs. And it requires visibility everywhere. Transportation teams could drill into their top bottlenecks by facility, carrier performance, dwell time and volume. All aboard.
SCCN solutions provide supply chain visibility and analytics across an extended supply chain. Some view EDI messages as being inferior because they are not real-time messages. But what is important is not that messaging is real-time, but that the messages occur in right time. 20 Things to Know About SCCN.
Opportunities for Procurement Technology As we look toward 2025, European businesses are reshaping their supply chains to navigate an increasingly complex global landscape. A recent report by Maersk and Reuters Events highlights that 68% of companies are making supply chain visibility and monitoring solutions a top priority.
Modern supply chains thrive on real-time data, execution-focused applications, and dynamic decision-making. By harnessing the power of data science and analytics, you can gain end-to-end visibility across your entire network, breaking down information silos and optimizing every stage of your operations.
However, the advantages of globalization come with challenges, and one of the key elements that can make or break the import management process is shipmentvisibility. Shipmentvisibility refers to the real-time tracking and monitoring of goods as they move through your supply chain.
When it comes to keeping trucks on-time at a warehouse or distribution center, technology plays an essential role. Transportation management systems and real-timevisibility solutions have generated the majority of attention for streamlining the process of getting a truck to the dock, loading or unloading it, and getting it back on the road.
Better ETA and better visibility into when orders will arrive are a requirement. Improve Real-TimeVisibility. Real-timevisibility solutions are more important than ever. Electronic data interchange (EDI) solutions have proven deficient in providing robust visibility. Turn to Machine Learning.
Leveraging advanced technologies like AI, machine learning, and real-time tracking can enhance visibility, optimize routes, and improve overall supply chain efficiency. Reducing reliance on single suppliers and diversifying supply sources can mitigate the impact of disruptions in specific regions or industries.
Emerge has an interesting new platform to deal with the problems shippers are having procuring truck capacity. It has spot procurement functionality that you would see in a transportation management system (TMS), and the request for proposal (RFP) functionality you would see in contract planning or procurement solutions.
Visibility across the entire length and breadth of your supply chain is required to predict and overcome supply chain constraints. Too much inventory means demand constraints, too little causes supply constraints. It starts of course with your planning department, but they need to partner with sourcing and procurement.
In this article, we’ll explain what centralized purchasing is, the challenges it tackles, the benefits of centralized procurement, and the types of companies that can benefit most from it. That’s when a centralized procurement organization structure proves beneficial.
Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.
Even in the best of times, they can be unwieldy, and keeping track of your suppliers, your suppliers’ suppliers, and… You know the drill. Supply chain visibility offers the means to manage your supply chain efficiently by offering previously unseen opportunities. What Is End-to-End Supply Chain Visibility?
GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. Alex Zhong, Director Product Marketing at GEP.
Strong vendor relationships are critical for business success, especially when it comes to managing inventory and procurement. Vendor Relationship Management (VRM) helps businesses manage supplier interactions, track performance, and ensure smooth procurement processes.
In an era where digital transformation is reshaping industries, government procurement is no exception. Advanced technologies such as AI, automation, and predictive analytics are playing a pivotal role in optimizing procurement processes, enhancing transparency, and driving efficiency.
Over the past few years, supply chain and procurement pros have faced the challenge of navigating their enterprises through one disruption after another. Their sourcing strategy should provide the following functionality: Real-timevisibility into categories, suppliers, cost, risk, and other compelling factors that are critical for sourcing.
While time slot management applications work as a stand-alone application, it is more valuable when it is integrated into with other applications on a common platform such as warehouse- and yard management or visibility solutions. Wait Times and Costs Can Add Up Quickly.
SCCN solutions provide supply chain visibility and analytics across an extended supply chain. The emerging issue is that while internal control towers have visibility and control over their loads, they don’t have visibility to all of the loads in the market ecosystem in which they operate.”.
Boost Your Business Profits with Efficient Procurement and Inventory Management Software Are you searching for ways to enhance your business’s profitability? One area with significant potential for improvement is procurement. It involves building and managing strong relationships with suppliers.
Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game. How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy.
in turn, is a boutique procurement consultancy. Professionals from procurement, compliance, logistics, sustainability, information-security and several other internal stakeholder all use the solution for different reasons. This intermediate step is more related to Procurement and supply chain transparency. Any final thoughts?
SCCN solutions provide supply chain visibility and analytics across an extended supply chain.”. Gartner defines a multi-enterprise supply chain business network as a “community of trading partners that need to work and communicate/collaborate on business processes that extend across multiple enterprises, with an end-to-end/shared focus.”.
The Role of Agentic AI in Supply Chains Supply chains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting. Helps businesses drive cost savings and mitigate procurement risks.
A July 2024 Gartner survey also found that 72% of procurement leaders are focusing on incorporating generative AI, anticipating a shift towards strategic decision-making and innovation. Procurement leaders recognize the imperative in front of them, but what does it mean for the future skills profile of the profession? efficiency gap.
Its a game-changer for businesses looking to streamline their operations, gain real-timevisibility, and boost overall efficiency. Think of it as a single source of truth for everything from production planning and inventory management to financials, supply chain, and even the shop floor.
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