Have you ever walked into a shop and found that they’ve run out of what you’re looking for? Maybe they didn’t have your size, or the brand you like? How did that make you feel? For most people, this is frustrating. It means visiting a different shop or delaying your purchase and ordering online. The data tells us that retailers don’t get a second chance with customers. The lost sales from this sort of supply chain failure are enormous. In fact, we estimate that for Australian retailers and consumer goods companies alone, there is $4 billion lost each year through a lack of supply chain visibility.
If you think that your experience as a customer is bad, spare a thought for the folks in supply chain who are trying to fix this problem. The complexity they face is enormous. Just looking at the phone in your hand, its components come from hundreds of suppliers located on just about every continent in the world.
Wrangling those freight orders to bring your phone to life, is a bit like trying to order 1000 taxi rides at once… from 40 different companies… with drivers who speak different languages… and who can only communicate with you by phone, email and spreadsheet. Sounds far-fetched?
Well, over the last 3 years, we’ve spent time with over 400 enterprise customers to deeply understand what might be holding us back from collaborating more effectively. We’ve learned that it’s really difficult to securely share the right information with your trading partners and that control of data is a major concern for most companies. We’ve also seen first-hand that supply chain teams across the country are still trapped in highly manual and inefficient workflows.
We think there’s a better way and so we’ve also started to build, test and learn with our customers, prototyping solutions to these problems to imagine the future of the Connected Supply Chain.
We are proud to announce as of October 2020, Telstra officially launched its first Connected Supply Chain Visibility solution – Visibility Imports. This solution combines data from across your supply chain to bring you a single source of truth for tracking and reporting your ocean freight, regardless of your shipping line or freight forwarder. The solution aims to provide you with out of the box coverage on multiple shipping lines, vessel ETAs and customs clearance into Australia.
This solution highlights the complexity in supply chains that causes unpredictability, delays, penalties, and poor customer service. Merging data across disparate systems and sources, cleansing, normalising and enriching to help provide a single source of truth for tracking and reporting with little input or data crunching on your side. On top of this, providing confidence that your data is hosted on Telstra’s secure & trusted platform in Australia.
Find out more about Visibility Imports here: Telstra Connected Supply Chain – Visibility Imports
Visibility Imports is the first in a suite of supply chain visibility solutions that Telstra is developing with a Domestic Visibility solution currently in development and expected to be available in market in 2021. Learn more about the technologies and products we’re incubating with customers
Think your business could benefit from a better connected supply chain?
Contact us to learn more about joining our industry incubation program.