Which of the following best describes supply chain visibility?

Supply chain visibility refers to the capacity to access and monitor real-time data related to the movement and status of inventory and shipments throughout the supply chain. This capability enables companies to track their goods as they move from one stage of the supply chain to another, providing insights that help in making informed decisions and improving overall efficiency.

Having access to real-time data on shipments allows businesses to respond quickly to changes, address potential disruptions, and optimize their operations. It also enhances coordination among different stakeholders in the supply chain, such as suppliers, manufacturers, and logistics providers, ultimately leading to better customer service and satisfaction.

The other options focus on different aspects of supply chain management. Foreseeing future market trends relates more to market analysis than visibility. Negotiating supplier contracts pertains to procurement and supplier management rather than physical tracking of goods. Reducing shipping costs is a financial strategy that may benefit from visibility but does not define it. Thus, the best descriptor of supply chain visibility is indeed the capacity to access real-time data on shipments.