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Adding Value to Your Company When You Don't Know Jack About Data

  You finally got your supply chain visibility (see.it.all), but the positive effect still needs to be added. You may be rich in data but need help figuring out what to do with it (know.it.all)? Are you data-rich but still need to be data-wealthy? Why don't we compare a "rich person" in the classical sense to a "new data-rich supply chain manager" and see how they got rich and stayed wealthy? I looked up some advice, and Harvard Business Review summarizes four learnings in an article titled " How to Build Wealth When You Don't Come from Money ": 1.) Let go of limiting beliefs. Your mindset can lead to significant missed opportunities if you keep limits and believe you don't deserve abundance. 2.) Accept that money is not always evil. Understanding that you can use your money to do good in the world can be a game-changer. 3.) Understand that a high income is not enough. Building wealth requires intentionally managing your expenses - and, yes, in...
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Can Supply Chain Financing benefit from Cargo Monitoring?

If you were a bakery around the next corner, you would be selling your bread or sandwiches just over the counter. You will see and talk to the person just in front of you and you would immediately get the money for your product sold. You know the buyer, you trust him because you immediately get the money and there is not much risk involved. If you were an exporter/seller and your buyer is thousands of kilometers away, the situation may look different. Each party tries to reduce its risk. The buyer might tell you, that he will not pay any invoice before he has not received the product in good quality. And you might tell the buyer, that you will not ship anything, before you have not received the money. Banks address this dilemma with supply chain/trade-financing, a financial service that has been invented already several hundred years ago. You, as the seller, don’t want your foreign receivables sitting out there for months doing nothing. It is your working capital and therefo...
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How holy is the Grail of Real-Time in Supply Chain?

A transportation management system (TMS) helps companies move freight from origin to destination efficiently, reliably, and cost effectively. In a TMS survey, ARC found that respondents indicated freight savings of approximately 6 percent with the use of a TMS application. TMS achieve these savings based on process enforcement, visibility, analytics, and optimization. Whereas process enforcement and optimization are based on visibility and analytics – any visibility benefits or any analytics functionality is only as good as the data quality and the currentness of data processed. Capgemini also indicates, that the demand for global visibility is increasing and that shippers want to know where everything is located across the entire supply chain at any given point. Shippers today are still challenged by disparate systems, an obstacle no serious global shipper can afford. The conclusion is: real-time data is key in order to achieve visibility, analytics, optimization and process ...
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