In the previous post, we looked at the importance of visibility and how software allows organizations to have complete visibility into and across the business. Taking it from there, in this post, we’ll look at another kind of visibility that comes with software – real-time.
Real-time visibility allows organizations to keep themselves up-to-date with everything that happens in conjunction with their businesses, both positive and negative. They can gain valuable insights and take immediate action accordingly.
Real-time visibility is very important for the smooth functioning of any organization and for it to be successful. Say for example that there is a manufacturing firm that depends on its suppliers to provide it with the raw materials needed to manufacture its product. Normally, the firm orders its raw materials once a month, a practice that has served it well in the past.
Now, for some unavoidable reason, there is a shortage of raw materials. If there is no real-time visibility into the status of the inventory, the firm will have to stop its operations till a new batch of raw materials is delivered. But if it does, it can order more stock immediately and avoid any risks.
Or, to take another, say that the organization operates in the retail space. One of its stores runs out of inventory in the middle of business hours. In such a case, with real-time visibility, the delivery of goods currently scheduled for the next day can be made immediately, ensuring that there is no risk of a stockout.
To conclude, visibility of any kind is very important to understand the performance of a process, unit, or organization and take immediate action whenever necessary. It takes away the scope for any fraud or corruption and ensures that a business performs the way it should – always at its peak.