The ineffectiveness of IT systems may fog decision making.
Timely access to information is vital to the decision making process. Yet, the vast majority of Executives surveyed face a confidence crisis due to the lack of visibility into their supply chain.
Only 3 out of 10 Executives report that IT systems are effective for global visibility; executives also report high risk due to poor visibility into global and outsourced operations.
According to the Axendia’s research survey of 125 Medical Technology Executives, the vast majorly of expressed concern about the risk associated with their suppliers based on their lack of visibility into the supply chain. Respondents report that their highest perceived risks (73 percent) are associated with suppliers to their critical suppliers.
Nearly 3 out of 4 respondents rated their level of risk moderate to high based on their current level of visibility into Tier 2 suppliers to critical suppliers. As one Executive put it “we feel that the level of visibility goes down exponentially with every link in the supply chain.”
To learn key strategies to deploy systems and technologies that provide visibility and control across the entire Value Chain, click on this link to read the complete article.
This is an excerpt from our recently published article in MedicalDeviceSummit.