Don't lose sight of your suppliers
In meteorology, visibility refers to the distance at which an object can be easily discerned. However, businesses dealing with vast supplier bases within competitive markets need to go beyond just distinguishing who their suppliers are and gain real time visibility into their service, standards and performance.
In today's fast paced retail environment, having control of your supplier network is a strategic imperative. By building a trading profile of your suppliers in the cloud, which covers a retailers complete trading network, it helps to mitigate risks, identify end-to-end cost savings and monitor supplier performance against KPIs. However, according to the Supply Chain Resilience Report, published annually by the Business Continuity Institute (BCI) and Zurich Insurance Group, 66% of companies do not have full visibility of their supply chains and 40% do not analyse the source of any disruption that occurs.
By employing a Fully Managed EDI Service, retailers can gain important insights into the performance of their suppliers and use fact based measurements and checks to drive improvement and improve their ability and agility when managing workflows. Which ultimately results in a better service for their customers. By removing the intricacies of managing multiple supplier connections and centralising this under one platform, TrueCommerce enables retailers to drive efficiencies across the board and turn their electronic trading network into a structured and efficient process.