Barcode tracking software and other supply chain management tools are becoming more vital for companies, as the results of two recently released studies have found that businesses experienced delays or disruptions in their supply chain more often during 2012 than in the past.
More than 70 percent of companies polled in a Business Continuity Institute survey said they had experienced a disruption at some point in their supply chain. Of the reasons cited for delays, 52 percent blamed IT outages, and 48 percent of businesses cited weather-related issues, The Strategic Sourceror reported.
Not only are supply chain disruptions occurring more frequently, but the delays have proven to be more costly than ever as well, according to a new study commissioned by Penn State University. Fleet Owner reported that economic losses related to supply chain management issues rose 465 percent, going from $62 billion in 2009 to totaling more than $350 billion last year.
While management issues are on the rise, the problem can be fixed if businesses elect to take more comprehensive control over their supply chains with logistics software and other solutions, Fleet Owner reported. The Penn State report showed that most companies do have the best data collection tools on hand, leaving them vulnerable to significant losses in the event of a natural disaster or another unplanned disruption.
"Companies must work harder to ensure they are mitigating risk wherever possible in their supply chains to limit the chance of monetary loss, negative press and low consumer confidence," The Strategic Sourceror article said. "By thoroughly examining each component of its supply chain, including strategic sourcing, manufacturing operations, logistical challenges and warehousing, a company can better determine how it can reduce its risk of encountering devastating supply chain disruptions."
RFgen’s High Availability Distributed Solution is a great answer to this problem. It enables 24/7 continuous supply chain operations even when the enterprise system is offline or you have distributed operations.