Dude, where is my product?

Dude, where is my product?

Stock outs happen all the time across every industry. The increased frequency of stock outs over the past few years have shined the light on our supply chain's inability to quickly adapt and communicate data.

So, how do our supply chains solve stock out challenges?

Today, solving a stock out involves multiple parties communicating point to point via email, phone calls and a web of tangled systems. The time it takes to involve your transportation manager, your inventory manager, your customer's warehouse manager and a carrier takes 3 days. That is a 3 day order to ship lead time which when extrapolated across every tier, you see why companies hold 60 days of inventory even though the research of theoretical minimums shows they only need 18 days on inventory in the Grocery and CPG industry.

What is required to communicated effectively address an out of stock?

To effectively solve for a stock out we must share data across all parties involved in solving an out of stock, you would need to implement a system that allows for secure and efficient data sharing. Here are some key system requirements:

1. Centralized data repository: To ensure that all parties have access to the same information, you would need a centralized data repository in a single data model where all relevant data is stored in the Cloud.
2. Secure access controls: To ensure that data is only accessible to authorized parties, you would need to implement secure access controls that are based on a patented permissions framework. This would involve creating user accounts for each party and assigning them the appropriate permissions to access the data they need.
3. Common data model: In an increasingly global economy, there is a need for computer networks to share information between computer applications and to better adapt to meet the needs of the business enterprise(s) and computer applications using such networks. To ensure that data is shared in a consistent and standardized way, you would need a common data model to ensure a Single Version of the Truth that all parties can use. This could be a standardized format such as XML or JSON and requires a method for sharing information between multiple computer applications using a grafted model network.
4. Real-time data sharing: To ensure that parties can collaborate in real-time, you would need a system that allows for real-time data sharing. Today IT may think this could involve implementing a messaging system that allows parties to communicate with each other in real-time, or using a database that supports real-time updates. However a federated network with a graph architecture supports these functions across multiple parties to benefit all trading partners. Where a messaging system or data warehouse comes with a host of headaches from integrations to compliance of trading partners as they receive little value from point to point connections.
5. Customized views: To ensure that parties can view the data in a way that is relevant to their needs, you would need to implement a system that allows for customized views which are configurable by the user without the need for IT input. This could involve creating custom dashboards or reports that are tailored to each party's needs. For example when looking at a forecast the store would see cases, the warehouse would see pallets and the suppliers see the raw materials as the forecast is continuously updated multiple times a day across all parties.

Implementing a system that allows for secure and efficient data sharing can help to streamline the process of solving a stock out by ensuring that all parties have access to the same information and can collaborate effectively. When purchasing software to solve any challenge carefully consider the needs of your organization holistically to choose a system that addresses the challenge internally and externally with trading partners.

So, Does such as system exist?

YES! And I am here to help address your needs. The system which addresses all the above requirements is called the Digital Supply Chain Network (TM), invented by One Network Enterprises and has over 90,000 companies participating on the network today.