SCRM Enhances Supply Chain Visibility

Having a good supply chain risk management program in place helps you complete your 360-degree view of your suppliers’ risk exposure. In combination with your supply chain control tower, your SCRM program should enable you to see the risk exposure of your end-to-end supply chain, including financial health and current and emerging threats.

Attaining full supply chain visibility requires functionality that alerts you to disasters and market changes that might affect your suppliers or transportation centers—which are integral elements of an SCRM program.

Improving supply chain visibility via risk management is no easy feat. But in the end, the payoff is worth it. Having full visibility, inclusive of risk, is the best way for you to maintain control of your supply network—and a supply chain risk management program that enables information sharing, disruption awareness and coordinated response is an effective way of getting the 360-degree view that you need. In other words: supply chain visibility without SCRM leaves you partially blind.

 

• The #1 focus for companies striving for supply chain visibility is to do so by securing the availability and quality of products. (Source: 2017 Supply Chain Worldwide Survey, Geodis.) This is exactly where an SCRM program fits into your supply chain visibility needs.
• According to the Business Continuity Institute, a majority of reported supply chain disruptions occurred at suppliers that were not tier 1 suppliers. (Source: Supply Chain Resilience Report 2017, Business Continuity Institute.) If you’re only considering your tier 1 suppliers, you’re missing a big piece of the puzzle.
• In 2017, a reported 69% of companies did not have full visibility into their supply chains. (Source: Supply Chain Resilience Report 2017, Business Continuity Institute.) Adding an SCRM program to your business plan is one way to increase end-to-end visibility, and that’s how you stay ahead of the competition.

• Build consensus with key stakeholders that SCRM is a vital component of business continuity.
• Understand that SCRM is a journey that involves multiple business processes and functions—and the time to get started is now.
• Consider adopting a solution to jumpstart your SCRM journey and benefit from proven best practices.