Real-Time Inventory Visibility and Its Impact...

Real-Time Inventory Visibility and Its Impact on Supply Chain Efficiency

Author Name : Aneeshkumar Perukilakattunirappel Sundareswaran, Shantanu Bindewari

ABSTRACT Real-time inventory visibility has become a pivotal factor in modern supply chain management, providing companies with immediate, accurate information about inventory levels, locations, and statuses across various nodes in the supply chain. This enhanced visibility offers a significant opportunity to improve decision-making processes, streamline operations, and mitigate disruptions, which are often caused by inventory mismanagement or lack of timely information. By leveraging technologies such as Internet of Things (IoT) sensors, RFID, and cloud-based systems, businesses are able to track and manage stock in real-time, leading to optimized resource allocation, reduced stockouts, and minimized overstocking. The impact of real-time inventory visibility on supply chain efficiency is profound. It allows for better coordination between suppliers, manufacturers, and distributors, resulting in improved demand forecasting, quicker response times, and lower operational costs. Moreover, it facilitates more accurate and timely replenishment cycles, which enhances inventory turnover and reduces carrying costs.