Understanding Supply Chain Performance Amy Smith, January 10, 2024November 13, 2024 Supply chain performance is one of the key operations one should understand about a business. Once you understand supply chain performance, you can work on creating streamlined operations. Here is what you should know about supply chain visibility and performance: What Is a Supply Chain? A supply chain is a system of people and companies who create a product and then deliver it to the consumer. There are several different people or companies that can be involved in a supply chain. Some of these may be buyers, suppliers, warehouses, military, transportation companies, Supply Chain Solutions for Cement Manufacturers, retailers, distributors, and more. Each supply chain can look different from the next. To understand supply chain performance, whether it be domestic, international or even a defense supply chain, it can be helpful to understand what constitutes good performance. Here are some ways to measure a high-quality supply chain performance: Communication To maintain a supply chain that continues to succeed, communication should be clear and consistent. Because there are several parties involved, communication between one another should also be timely and effective. You should make sure that you understand some of the fundamental terminology for communication and setting clear supplier expectations, such as a framework agreement. And what is a framework agreement? It’s a contract that defines a long-term relationship and is an essential part of supply chain coordination. A good supply chain should have established communication tools and practices set into place. Effective communication between these parties can also be strengthened with supply chain software. Consistency A supply chain that maintains consistency will have a more effective performance. When you continue serving the same quality of results, you are more likely to receive positive feedback from your investors and clients. Consistent operations can give your supply chain authority and credibility. This sense of leadership may give it a higher probability of maintaining relationships and business. Visibility A good supply chain performance should have visibility. This can be done with supply chain software. Supply chain visibility tools such as trailer tracking devices can assist in every part of the supply chain. It gives you and others in the supply chain the opportunity to see exactly where everything is. You can track where products are, how much they are, and if there are any issues that need to be addressed. The visibility of the supply chain can increase the number of companies and businesses that may want to work with you. The more they see the supply chain being successful and effective, the more they may want to join in on the operation. These are just a few different ways to find out whether a supply chain performance is effective. There are many different ways to increase the effectiveness of a supply chain. One of them can be embracing technology. Embrace Modern Supply Chain Technology Understanding supply chain performance can be difficult without supply chain visibility. To achieve this visibility, embrace the technology of supply chain software. Supply chain software can assist those who are in the supply chain and those who may want to be a part of one. Here are some ways that supply chain software can create supply chain visibility: Find Supplier Scorecards Supply chain software can give you insights into supplier scorecards. These cards can show you which suppliers are best with communication, delivery time, and more. This can assist you in choosing the right supplier who can increase your supply chain performance. Minimize Manual Tasks When you use supply chain software, you can minimize the number of manual tasks. This can decrease the amount of human error and the time it takes to complete orders. Find Information in One Place Supply chain software can enable you to put all of your information on a singular portal. This allows for more visibility between all of those within your organization. You can find POs, RFQs, and more, all while storing data in a secure cloud base and receiving accurate updates. The quicker you are able to find needed information, the more proficient your supply chain can be. Infographic created by Track Your Truck, a GPS vehicle tracking devices provider Supply Chain Software for Supply Chain Visibility Understanding supply chain performance is all about understanding software and visibility. A successful supply chain uses all of the technology it can to maintain its professional relationships, both internally and externally. To find a way to increase your supply chain visibility, you may want to consider outsourcing supply chain software or partnering with a service provider. Supply chain software can increase your business’s visibility, productivity, proficiency, and more. Find a supply chain software today, or contact a provider to learn more about how your business could benefit. Image Source: Freepik Share on FacebookTweetFollow usSave Articles manual taskssupplier scorecardssupply chain performancesupply chain softwaresupply chain visibility