Transparency in the Supply Chain – these are the advantages for companies
Global supply chains must adapt more quickly to internal and external changes – this adaptability often makes the difference in competition and is based on a flexible and transparent data infrastructure. For about two-thirds of German companies (64 percent), improved responsiveness to unexpected events is one of the essential advantages of a transparent supply chain. This is one of the central findings of the 19th Hermes Barometer, a survey of 150 logistics decision-makers on the topic of "Transparency in the Supply Chain".
Delivery quality, sustainability, optimization – the potential of end-to-end visibility
Many logistics decision-makers see end-to-end visibility as a prerequisite for identifying risks more quickly and making not only reactive but also predictive decisions. Especially larger companies with more than 500 employees (75 percent) appreciate this scope for action, as it helps to identify disruptions and bottlenecks in the supply chain early and respond to them promptly. Across all company sizes, 64 percent of respondents share this assessment.
Also with regard to compliance with sustainability criteria and legal requirements, a transparent supply chain has a positive effect: Almost three-quarters of companies (74 percent) agree that the as complete as possible documentation and monitoring of the entire production and supply chain contributes to meeting ethical and ecological standards. Other advantages mentioned by survey participants include increased delivery quality, reduced costs, and strategic data use for further optimization of the supply chain.
Higher customer satisfaction thanks to transparent data insight into the supply chain
The 19th Hermes Barometer also shows that many companies increasingly identify latent customer expectations as performance indicators. To meet these expectations, it is once again worthwhile to digitally map the entire value creation process: For 79 percent of the surveyed companies with 100 to 250 employees, supply chain transparency – for example, through constantly updated and sent information about transport or delivery status – has a significant impact on higher customer satisfaction.
For more information and the exact evaluation of the survey, please refer to our 19th Hermes Barometer "Transparency in the Supply Chain", available for free download.