After recently getting back from a visit to Europe, I spotted that visibility continues to be on the forefront of each discussion in the availability chain.
We discuss visibility after we discuss U.S. imports and exports, domestic deliveries to businesses, consumer e-commerce deliveries, etc. But we also discuss it after we travel for work, as in when an airplane is speculated to arrive inbound, when it’s speculated to leave and the estimated time of arrival at the ultimate location. I may even see on an app how long it’ll take me to envision in and stand in line at security on the airport.
Our have to repeatedly control our lives is mirrored in business — although in business, there obviously are clear value-generation opportunities when talking about visibility.
For the previous few years, corporations have focused on real-time transportation visibility (RTTV) with vendors like project44 leading the way in which. RTTV mainly focuses on visibility of inventory in motion based on a world network of carriers across transportation modes.
But more recently, there was increasing importance for the opposite side of inventory visibility, which is the inventory at rest, within the warehouses in addition to in retail stores. Filling shelves, disappointing consumers and miscalculating demand can have catastrophic effects on this economic climate. The worldwide culture is increasingly one in every of on-demand, single-day delivery — and all of it totally free. This drives the creation of a brand new category, which is known as real-time inventory level visibility (RTILV), with vendors like Mojix leading the way in which.
RTILV is essential in industries like retail. Apparel and wonder retailers need to know what visibility is on the market within the warehouse or in the shop to optimize inventory accuracy. Item-level tracking — enabled by technologies like radio frequency identification tags, Web of Things devices and blockchain — provides precise, real-time information on each item because it moves through the availability chain. This granular data is crucial in improving decision-making, optimizing inventory levels and reducing waste.
Understanding the movement of individual items helps in creating more accurate demand forecasts. It allows organizations to research trends on a microscale, considering variables similar to location-specific demands, seasonal trends and consumer preferences, which may lead to raised production planning and inventory management.
For restaurant and grocery retail, there may be the extra use case around food safety. Traceability ensures easy item identification and authentication. For example, in case of a product recall, item-level tracking can prove invaluable. By tracking each item, corporations can quickly discover and isolate affected products, minimizing the scope of the recall and reducing associated costs and risks.
With laws around traceability becoming more stringent, it can be crucial to have access to full end-to-end visibility across all parts of the availability chain, whether the inventory is in motion or at rest. Consumers are increasingly demanding transparency and authenticity. Item-level tracking allows for the seamless sharing of data with consumers regarding the sourcing, production and distribution of products. This not only enhances brand status but also can provide a bonus out there.
Technology has brought lightning-paced transformation to produce chain management. Real-time data capture streams, serialization, smart data carriers, scalable cloud infrastructures and emerging technology further catalyzed seismic changes across all industries and regions. These capabilities have develop into required in times of disruptions as we’ve got seen the previous few years.
Now could be the time to proceed the investment in visibility and shut the loop to realize true end-to-end visibility.
In regards to the creator
![](https://www.freightwaves.com/wp-content/uploads/2023/08/04/IMG_0769-edited.jpg)
The post Viewpoint: The evolving world of real-time visibility appeared first on FreightWaves.