Final answer:
Supply Chain Visibility refers to the ability of an organization to track and monitor its supply chain activities in real-time. Achieving supply chain visibility helps companies identify bottlenecks, improve efficiency, and make informed decisions.
Step-by-step explanation:
Supply Chain Visibility refers to the ability of an organization to track and monitor its supply chain activities in real-time. It involves gaining insights into the movement of products, raw materials, and information across different stages of the supply chain, from sourcing to production to distribution.
Achieving supply chain visibility is crucial for companies as it helps them identify bottlenecks, improve efficiency, and make informed decisions. For example, with supply chain visibility, a company can quickly identify if a certain product is running low in stock and take necessary actions to restock before it affects customer satisfaction.
Technologies like RFID, IoT, and tracking software play a significant role in enabling supply chain visibility by providing real-time data on inventory levels, transportation status, and other relevant metrics.