New Report: Visibility Voids Are Exposed When Lacking Insight into Key Data Elements at the Item-Level as the Supply Chain Industry Progresses to End-to-End Traceability
March 28 2024 - 7:00AM
New report from Mojix indicates that
item-level inventory traceability has become a priority for
companies to stay agile and competitive in the global marketplace.
Released today, “Enhancing Supply Chain Resilience: The Advantages
of Supply Chain Visibility, Best Practices, and Technology
Integration” assists companies in understanding the crucial reasons
and benefits behind implementing such solutions within their supply
chains.
“Traditional inventory visibility is often done only at the lot
or stock keeping unit level and misses the mark when it does not
offer visibility at the item-level. The Mojix platform empowers our
clients to achieve end-to-end traceability by harmonizing the
disparate data stored across their supply chain management tools,
said Chris Cassidy, CEO at Mojix. “By stitching together dozens of
key data elements with chain of custody events across the
enterprise, we’re able to offer a true digital product
passport.”
According to CSCMP’s State of Logistics Report, “Despite shifts
in capacity, overall United States business logistics costs rose
19.6% to $2.3 trillion, representing 9.1% of the national GDP.”
Much of this can be attributed to carrying costs. Filling shelves
and miscalculating demand can have catastrophic effects in this
economic climate, and ultimately, a negative impact on customer
experience. The global culture is increasingly one of on-demand,
single-day delivery, and all of it for free. This has driven the
creation of a new category which is called real-time item-level
visibility (RTILV). The granular data captured by RTILV is crucial
in improving decision-making, optimizing inventory levels, and
reducing waste.
“Understanding the movement of individual items helps in
creating more accurate demand forecasts,” said Bart De Muynck,
supply chain industry analyst and co-author of the research. “It
allows organizations to analyze trends on a micro-scale,
considering variables such as location-specific demands, seasonal
trends, and consumer preferences, which can lead to better
production planning and inventory management.”
Download and Read More Here:
Enhancing Supply Chain
Resilience: The Advantages of Supply Chain Visibility, Best
Practices, and Technology Integration
About MojixMojix is a leader in real-time,
item-level visibility solutions and human capital management for
nearshoring IT development services that provide end-to-end
business intelligence for supply chains around the globe. Mojix
harmonizes data to provide traceability, product authentication and
automated inventory management solutions that are built on a high
security, scalable SaaS platform. Mojix captures event-triggered
actions and vital characteristics by tracking billions of unique
identities, to follow item lifecycles from source to shelf.
Companies can leverage the integrated data to increase their sales
and operational efficiency, reduce risk, and enhance their customer
experience. Learn more at www.mojix.com.
Editorial/Media ContactMaggie
Williams DrydenVice President, Head of Global MarketingMojix,
Inc.(404) 913-2488maggie.dryden@mojix.com
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