The Benefits Of A Secure Supply Chain

A recent study has quantified the tangible business benefits of investing in supply chain security efforts.

Those benefits include:

• Improved product safety (e.g., 38% reduction in theft/ loss/ pilferage, 37% reduction in tampering);
• Improved inventory management (14% reduction in excess inventory, 12% increase in reported on-time delivery);
• Improved supply chain visibility (50% increase in access to supply chain data, 30% increase in timeliness of shipping information);
• Improved product handling ( 43% increase in automated handling of goods);
• Process improvements (30% reduction in process deviations);
• More efficient customs clearance process (49% reduction in cargo delays, 48% reduction in cargo inspections/examinations);
• Speed improvements (29% reduction in transit time, 28% reduction in delivery time window);
• Resilience (close to 30% reduction in problem identification time, response time to problems, and in problem resolution time);
• Higher customer satisfaction (26% reduction in customer attrition and 20% increase in number of new customers).

See Also:

• Protecting The Global Supply Chain