An independent research study reveals that 63% of 149 companies with predominant global supply chains have ranked Supply Chain Visibility as a high priority for improvement.
According to Aberdeen Group’s new research study ‘Supply Chain Visibility: A Critical Strategy to Optimise Cost and Service’, the top 20% best-in-class companies claim to be compliant to GS1 standards and track supply chain visibility at the item level.
The research study by Bob Heaney, Senior Analyst at Aberdeen Group 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 also reports an unprecedented increase in the use of Logistics Service Providers as supply chains become more globally connected. Mr Heaney explains that supply chain visibility solutions aim to improve an organisation’s ability to connect transport and logistics activities, and put universal standards such as GS1 enabling technology to their most productive use.
Key findings of the research study:
- 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, capture details about supply chain movements, and share that information with authorised business partners.
GS1 Australia is the Australian member of the global GS1 organisation.