{"id":18201,"date":"2022-02-09T08:51:14","date_gmt":"2022-02-09T08:51:14","guid":{"rendered":"https:\/\/www.odysseylogistics.com\/?p=18201"},"modified":"2023-12-28T04:41:04","modified_gmt":"2023-12-28T04:41:04","slug":"network-optimization-cuts-cost","status":"publish","type":"blog","link":"https:\/\/www.odysseylogistics.com\/blog\/network-optimization-cuts-cost\/","title":{"rendered":"Supply chain network optimization boosts visibility, cuts costs"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18201\" class=\"elementor elementor-18201\" data-elementor-post-type=\"blog\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bbdaaf2 e-flex e-con-boxed e-con e-parent\" data-id=\"bbdaaf2\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-45e8d2c elementor-widget elementor-widget-heading\" data-id=\"45e8d2c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">To improve supply chain operations and reduce costs, organizations today need full visibility into their supply chains. Still, most companies keep supply chain data siloed in disparate locations and spreadsheets \u2014 making it difficult to uncover opportunities to improve.<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9befc18 elementor-widget elementor-widget-text-editor\" data-id=\"9befc18\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Logistics Bureau reports that 69% of organizations don\u2019t have full visibility of their supply chains. They also report that organizations with optimal supply chains have 15% lower supply chain costs, less than 50% inventory holdings, and cash-to-cash cycles at least three-times faster than those not focused on supply chain optimization. This is where network optimization comes in.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec48913 elementor-widget elementor-widget-text-editor\" data-id=\"ec48913\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n<li><strong>Network optimization provides visibility.<\/strong>\u00a0A network optimization study streamlines the collection of an organization\u2019s supply chain data by creating a \u201cdigital twin.\u201d The digital twin replicates relevant supply chain data to enable a granular view of all its critical data elements such as locations, volumes, origins, materials, SKUs, product weight, and transportation and throughput costs.<\/li>\n<li><strong>Aggregated data delivers eye-opening insights.<\/strong>\u00a0Once all of the supply chain data is aggregated into the digital twin, organizations can use this granularity to identify their true total cost to serve. Their supply chain managers can see lanes and flows in real time, enabling them to fully understand what\u2019s going on in their business.<\/li>\n<li><strong>Visibility leads to action.<\/strong>\u00a0Having supply chain data in a digital twin is the first step. But organizations need to take action based on that data to uncover its true value. The next step in a network optimization study is modeling. Once the data is consolidated in the digital twin, the modeling outputs are then input into sophisticated business intelligence (BI) tools to create a visual, digital representation of improvements that can be targeted.<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6fdc365 elementor-widget elementor-widget-text-editor\" data-id=\"6fdc365\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>With these digital models, organizations can determine and compare trade-offs of potential changes to their supply chain network. They can quickly separate opportunities for measurable improvement from initiatives that won\u2019t provide gains \u2014 or worse, might cause losses. Visualization tools make it easy to select scenarios, view possible strategies and calculate outcomes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ff2f53 elementor-widget elementor-widget-text-editor\" data-id=\"8ff2f53\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>For example, a global manufacturer recently embarked on a network optimization study to find opportunities to improve its supply chain operations and reduce costs. The manufacturer was spending more than $1 billion annually on shipping, delivering 12,000 different types of materials to 19,000 customers across six continents, and operating more than 200 facilities across the globe. Through a network optimization study, the manufacturer learned that much of its annual shipment spend was being wasted. Global inefficiencies could be seen in plain view, as well as clear opportunities to correct them and optimize supply chain operations. In the end, the manufacturer discovered $60 million in savings.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5269de0 e-flex e-con-boxed e-con e-parent\" data-id=\"5269de0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6b9ff2b elementor-widget elementor-widget-heading\" data-id=\"6b9ff2b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Outlook<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa96dbb elementor-widget elementor-widget-text-editor\" data-id=\"aa96dbb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A network optimization study can help organizations drive performance and improve bottom-line results if they\u2019re ready and willing to make changes to their operations. Supply chain visibility alone isn\u2019t enough: An organization needs to be prepared to use data-based insights for meaningful action.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ac4a746 elementor-widget elementor-widget-text-editor\" data-id=\"ac4a746\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Original article published in\u00a0<a href=\"https:\/\/www.supplychainbrain.com\/\" target=\"_blank\" rel=\"noopener\">SupplyChainBrain<\/a>. Click\u00a0<a href=\"https:\/\/www.supplychainbrain.com\/articles\/34548-supply-chain-network-optimization-boosts-visibility-cuts-costs\" target=\"_blank\" rel=\"noopener\">here<\/a>\u00a0for the original article.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>To improve supply chain operations and reduce costs, organizations today need full visibility into their supply chains. Still, most companies keep supply chain data siloed in disparate locations and spreadsheets \u2014 making it difficult to uncover opportunities to improve.<\/p>\n","protected":false},"author":8,"featured_media":22396,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"blog_category":[69,67],"class_list":["post-18201","blog","type-blog","status-publish","has-post-thumbnail","hentry","blog_category-managed-transportation","blog_category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Supply Chain Network Optimization Boosts Visibility, Cuts Costs - Odyssey Logistics<\/title>\n<meta name=\"description\" content=\"Network Optimization Boosts Visibility, Cuts Costs. 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