May 12, 2022

The Importance of Building a Supply Chain Ecosystem

If there’s anything the past 2 years have shown us, it is that our supply chains are ever-fluctuating, and disruptions are capable of impacting industries across the board. While this can mean different things to each of us, what it means for the transportation industry is that there’s a real need to build an ecosystem all players can participate in and rely on. Today’s supply chain leaders are investing in novel ways to keep their supply chains strong, and many are considering collaboration, our bread and butter. If you’re wondering what the opportunities are, Gartner’s “How To Build a Supply Chain Ecosystem” might be helpful to you. Here are a few points to ponder from our perspective…

POINT #1

“Increasingly, supply chain leaders are engaging the broader trading network, which includes startups, government agencies and even competitors…The top 3 are Tier 1 suppliers, 3PLs and technology vendors.”

-Gartner for Supply Chain: How to Build a Supply Chain Ecosystem

We’ve noticed that government and industry leaders alike are working toward building their rolodex to increase their number of partners and bolster their resilience. They’ve been developing strategies to boost their domestic capabilities so they can become less reliant on global supply chains. We believe companies should be looking for ways to supplement their supply chain flows to ensure they’re always providing the best in service.

When it comes to transportation, there is no better way to build one’s contact list than to join a robust network of shippers and carriers who are looking to collaborate. But getting access to shippers and carriers is only the first step, what’s really needed is a way to plan efficient roundtrips in real-time without creating extra work for the shipper or carrier.

POINT #2

“What do supply chain leaders expect to gain from engaging the broader trading network? At a high level, a more cost-effective, end-to-end supply chain that supports new business model creation. More granular benefits include greater agility, more-effective risk management, enhanced customer experience and business growth.”

-Gartner for Supply Chain: How to Build a Supply Chain Ecosystem

Most companies gravitate to working with one major trading partner, supplier, or customer, despite the risks associated with putting all your eggs in one basket. As the impact of COVID-19 continues to create waves, businesses are starting to realize that diversifying who they work with is the key to survival. Seeking alternative partnerships and building those relationships are an excellent strategy to better equip supply chains to survive the next round of supply chain woes.

Businesses can improve their agility by working with new technologies that can help with logistics, transportation, and cost control. By creating a more diversified supply chain with visibility and insight into all moving parts, companies can reduce risk further down the line. Better yet, by joining an established ecosystem focused on improving transportation from the ground up, companies can achieve sustainability goals, access predictable pricing, and eliminate volatility in one fell swoop.

POINT #3
“How will supply chain leaders make the shift away from engaging Tier 1 suppliers and 3PLs and toward engaging Tier 2 and beyond suppliers? By crafting a supply chain ‘ecosystem’ in which every participant in the end-to-end supply chain is connected through one common data platform… Rather than a linear chain, where data is transferred from one stage to the next, data in a supply chain ecosystem is readily available to all, providing near-real-time access to critical information, supporting informed decision making and enabling process execution across the network.”
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Gartner for Supply Chain: How to Build a Supply Chain Ecosystem

Lack of visibility has always been a concern for supply chain managers. When looking at extended supply chains, there are so many different nodes and participants, it’s easy to lose track of where one process begins and the other one ends. More and more organizations are turning to advanced technologies to improve their access to visibility, allowing them to improve responsiveness when major disruptions threaten variability within their supply chains, be it regionally, domestically, or globally.

The technology needed to access real-time visibility is finally available. When it comes to creating network-wide transportation efficiencies, there’s a need for visibility beyond the TMS planning horizon. What’s needed is the ability to predict both demand and supply across the entire network, with real-time access to data so the network can continuously adapt and evolve as things change. That’s what SemiCab’s predictive optimization is all about.

POINT #4

“Chief Supply Chain Officers must work with IT leaders to identify and adopt technologies that engage in real-time, secure data sharing and multi enterprise process execution, as this will grow and scale the business value of the supply chain ecosystem.”

-Gartner for Supply Chain: How to Build a Supply Chain Ecosystem

The need for visibility and collaboration is undeniable, the COVID-19 pandemic made that abundantly clear, across all verticals. Teams across all industries are embracing digital transformation, collaboration, and supplier partnerships in an effort to de-risk their supply chain.

Joining a network of trusted partners and collaborators will only help manage supply chain disruptions as they empower businesses to push through the muddy waters. With a well-supported supply chain, businesses can be better at anticipating, reacting, and planning for unexpected setbacks. Joining a platform like SemiCab is a great way for shippers and carriers to multiply their avenues for distribution.

IN SUMMARY

In our rapidly changing, hyper-connected world, sophisticated multi-enterprise collaborative ecosystems represent new ways for businesses to create value. At SemiCab, our focus is on unleashing next generation efficiencies in transportation – and we’re doing that by orchestrating collaboration in a whole new way. The SemiCab solution results in stable trucking costs, surety of capacity, fewer empty miles, and most importantly, a sustainable ecosystem—a true community—where everyone wins.

If you’re ready to make transportation your competitive advantage, then you’ve come to the right place. Join SemiCab today, and realize the benefits of collaborating in just a few short weeks.

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