What is a Supply Chain Audit?

A supply chain audit is the management and analysis of a set of supply chain guidelines. These guidelines are different from organization to organization, but are generally based on safety demands, legal requirements, efficiency standards, and other factors. Most supply chain guidelines also focus on sustainability.

An effective supply chain audit should identify weak links and determine how best to strengthen them — increasing operational efficiencies, improving sustainability efforts, and increasing ROI.

Benefits of a Supply Chain Audit

A supply chain audit provides many benefits for an organization. It allows an organization to get a bird’s eye view of their supply chain, and can help a company to:

  • Identify weak links in the supply chain
  • Improve supplier accountability
  • Decrease the gap between supply and demand
  • Catch fraudulent activities
  • Ensure correct documentation procedures
  • Minimize fulfillment mistakes
  • Maintain quality control
  • Strengthen safety standards
  • Improve capacity issues

Each one of these benefits represents a link in the chain that could make or break an effective logistics process. Each one also represents big opportunities to improve the entire process and potentially increase the ROI of the entire system.

Supply Chain Audits Start with Good Data

An effective supply chain audit has to start with trustworthy data, but logistics data is notoriously difficult to organize and manage.

Trax streamlines the supply chain audit process by automating many standard data processes, improving the reliability of your logistics data. Clean, easily accessible data gets your auditing process started quickly.

Automated Freight Auditing

Trax’s Freight Audit system is always at work. Implement custom checks and balances based on your company’s supply chain and unique needs, get clear data regarding risks and exposure, and more.

Trax clients regularly see a 2 to 5% cost reduction in transportation spend from audit actions alone.

Trax Freight Audit

Identify Costs Along the Supply Chain

In addition to understanding how each link in the supply chain is working, you need to know how much each link is costing. Improving ROI all along the process starts with a reliable breakdown of the cost at each step.

Trax’s cost allocation platform easily segments the largest financial datasets to display accurate cost allocations for your supply chain audit.

Turn Audit Data into Business Intelligence

The Trax Data Platform translates clean, trustworthy data into accurate, reliable business intelligence. This information is easily accessible for daily business decisions, but it’s especially helpful during a supply chain audit.

Find savings opportunities throughout the supply chain and unlock hidden value, no matter how complex your logistics processes and data may be.

Trax Business Intelligence