Boston, MA, -- With so much emphasis on domestic supply chains, most enterprises have been caught playing catch up with their global operations. The good news is that companies are hungry for solutions that will enhance global visibility, amp up human resources, mitigate global risk factors, and enhance logistics operations.
According to a just-released study by AberdeenGroup, companies are now looking to increase their insight into their global supply chains, starting with increasing the level of visibility and automation. Today, the typical large company's global supply chain is only 50% as automated as its domestic supply chain, according to results from the 'Global Supply Chain
To improve their global supply chain capabilities, companies are moving away from building in-house applications and toward using commercial applications from a varied set of vendors, ranging from software specialists to managed service vendors and logistics service providers.
These applications include:
- Supply chain visibility technology to increase the transparency of global activities
- Business-to-business (B2B) collaboration platforms to improve supply/demand synchronization
- Trade compliance software to ensure undisrupted movement across borders and take advantage of preferential trade agreements to lower total landed costs
- Risk management tools to ensure resiliency in face of supply chain disruptions
"Three-quarters of firms lack enterprise-wide automation for global supply chain processes," says Beth Enslow, senior vice president of research for Aberdeen. "This lack of visibility and control not only creates longer lead times and higher inventory levels but also seriously impacts corporate risk levels and financial performance."
An astounding 90% of enterprises report their global supply chain technology is inadequate to provide the corporate finance organization with the timely information it requires. This information includes accurate costing and delivery dates for budget and cash flow planning and management.
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