Only 25% of suppliers currently utilize real-time shipping trackers and devices even though 73% of supply chain professionals said that real-time shipment visibility is a “must-have” feature in the industry, according to a recent report. As a result, 75% of the individuals that took part in the survey do not have the tracking technologies necessary to oversee and manage their cargo in real-time.
In Tive’s “The State of Visibility 2023” report, 80% of the people that took part in the study claimed they were directly involved in supply chain operations as well as visibility. Therefore, it makes sense that 70% of the study's participants said they were using some type of supply chain visibility solution. Simultaneously, 23% of those interviewed said that, even though they do not currently use supply chain visibility solutions, they do plan on using them in the future.
Amongst those that took part in the study, 46% said real-time supply chain visibility was mandatory at all times, and 37% of responders said they only sometimes used real-time supply chain visibility tools.
Suppliers expressed interested in investing more money in real-time tracking tools, with 74% saying they plan to either maintain (23%) or increase (51%) their spending on real-time supply chain visibility solutions in 2023.
The reason most cited by suppliers to use real-time visibility mechanics to manage supply chains was to ensure customer satisfaction (47%). Second came improvements in their supply chain collaborations, at 34%, closely followed by 33% citing minimized shipping fees and potential delays.
Visibility, of course, relies heavily on data from transportation providers, and the survey showed there was a lot of room for improvement. Nearly half (46%) of supply chain professionals said that road-based haulers provided the least visibility. Ocean shipping was reportedly the second-worst mode of transportation in terms of visibility at 25%, with rail freight coming in last, at 22%. At 7%, air freight reportedly has the least serious visibility problem among major modes of transportation.
Over 260 supply chain professionals took part in "The State of Visibility 2023" report, which was conducted by Tive in March 2023.
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