Keep an eye on your goods - and your business business – by asset tracking and visualizing your supply chain
Modern-day supply chains are complex. So, there’s an emerging and ever-growing need for visibility and data. Especially when you take into account the pace of circulation for goods, e.g. 3-4 weeks for retail clothing in stores. Nowadays, asset tracking and tight control over the goods’ whereabouts and condition just cannot be overlooked. Because if you do, someone else is going to push you aside and do it better.
ASC NOW magazine’s article discussed the need to map out and organize the supply chain as an entity containing each actor in it. This process gives supply chain professionals visibility of the entire operation to operate a sustainable business. Check out the graphic in the article that shows a simplified portion of Gore’s supply chain map. It’sa real eye opener – for just one company receiving and sending goods, you can easily find hundreds of suppliers and vendors, 3PLs, distributions centers and warehouses that need to be managed.
By mapping the supply chain, you ensure that your goods are produced with the best possible materials and resources, for the best price and in the best location. But, is that enough to keep your business in good shape?
Currently, 39% of retailers and vendors are already operating at omni-channel level and 58% are ramping up or have a plan in process. These operations demand a lot more visibility than just seeing what is done and where. At this level, you need to know exactly where within the location, or between locations, the goods are moving as well as the condition they are in.
The solution? New technologies are needed to ensure the data that can verify the location and condition of goods, is incorporated in the mapping and visualization of the supply chain. Retailers have used barcode and RFID technologies in the past. And this has certainly done a lot to help optimize the supply chain. However, there is room for further improvement. Combining the above technologies with Wirepas Massive for location data and sensor data collection will make sure that the fast circulation of goods can be supported with goods in mint condition. Even better, Wirepas Massive also enables a very light infrastructure:
- Inventory – no need for infrastructure other than the tags on the assets / pallets
- Sensor data collection – no need for infrastructure other than the tags on the assets / pallets
- Goods-in/goods-out – only a couple of anchor devices to verify the point of entry / exit
- Location data – light infrastructure of small, battery-operated devices that can be out of sight for the consumer. How much accuracy you want or need purely depends on the number and density of anchors
The benefits of incorporating such technologies for the supply chain can be as simple as:
- Sensor monitoring ensures visibility of the condition of goods. This gives an ability to react to discrepancies that help a) cut down losses by keeping goods sellable or b) when goods are spoiled keeping the sales downtime to a minimum with faster replenishment
- Fast and automated goods-in process and data speeds the replenishment processes
Ensure fewer discounted goods thanks to efficient First In First Out methods using item IDs,accurate inventory and location data
Sound good? You can get even more information on the benefits of Wirepas Massive for your supply chain by reading this article.