The condition of your physical supply chain and having visibility into it is vital to the health of your overall business. Disruptions that a business encounters will negatively impact its costs, timing, and ultimately its products. Since supply chain issues are inevitable, being proactive can help keep your business ahead of the competition. Asset tracking solutions can provide insights into supply chain slowdowns and inefficiencies which can affect competitiveness and revenue. Tracking solutions provide an important window into real-time supply chain activity, enabling a company to operate and bypass inefficiencies before they can cause irreparable financial harm.
Supply Chain Disruptions
Interruptions happen for many reasons. Some of the most common include:
- Natural disasters anywhere in the world can harm supply chains.
- Transportation issues, such as theft, regulations, weather, or even traffic can impact supply chain performance and getting items to their intended locations.
- Spikes in market prices can slow down supply chains as costs are driven up.
- Cyber-attacks, while not as common, can adversely impact supply chains. As attacks continue to trend up and grow in sophistication, there is a greater need for security to protect supply chain distribution vulnerabilities.
Thanks to the pandemic, many companies have experienced supply chain disruptions due to workforce shortages along all lines that have been further complicated by increases in consumer demand for products.
The Impact on Growth and Competitiveness
Supply chain disruptions can impact a company’s growth and ability to compete in the market.
- First, being unable to successfully transport goods throughout the supply chain means a serious drop in revenue. Money may not be everything, but in business, it’s essential. Without it, businesses can’t continue to grow or function at the same level as those around them.
- Next, supply chain woes lead to inefficiencies. When consumers cannot count on a product being available, or your business cannot count on receiving its supplies, growth is affected. Employees won’t have the resources to do their jobs and production downtime can occur more often. Once shipments finally arrive, playing catch up results in more spending for expedited shipping fees, overtime pay for employees, and more. None of this is efficient.
- Finally, when supplies become scarce, many companies will order things in greater quantities which can lead to additional issues of excess spending, increased storage space requirements, and the risk that demand will drop before surplus supplies can be utilized.
The weight of any of these issues can be great enough to halt a business’ ability to grow and be competitive in the market.
Solutions for the Future
Any of these supply chain issues can happen at any time – and without warning. For instance, two years ago, nobody could have predicted the Coronavirus and how it has affected supply chain systems on a global level.
Being prepared is key. Making the best decisions possible will aid in fending off competitors and keep your business thriving.
One way to be better prepared is by monitoring your business’ assets.
Most business owners don’t have access to the details around every aspect of their supply chain. But when you invest in asset tracking, you can see where products and supplies are all along the line. This means being able to make timely decisions that can lead to positive outcomes in the future.
Rise Above the Competition with BlackBerry Radar
Investing in innovative technology such as asset tracking can make a huge impact on a company’s ability to grow. Asset tracking with BlackBerry Radar® is a simple solution that can be set up in minutes to produce significant, measurable results.
BlackBerry Radar technology is designed to support any size logistics or transportation business. Ruggedized, easy to install, and designed to provide the right information for your business to take action – including those that are tough to track, such as:
- Trailer tracking
- Chassis and flatbed tracking
- Intermodal container tracking
- Equipment tracking
- Railcar tracking
Taking advantage of asset tracking by BlackBerry Radar can positively affect businesses’ ability to operate more effectively. Give your business every available opportunity to see optimal growth. BlackBerry Radar has asset tracking experts ready to support your business needs.
To learn more, contact BlackBerry Radar at (844) 239-4572.