Future Digitization of Supply Chain Planning: Leveraging Actionable Data to Strengthen Multi-Enterprise Collaboration
With lead times longer than ever, raw materials shortages, and logistical nightmares across the globe, supply chain planning has been brought to the forefront of business strategies. Consumer demands used to be more predictable but now, historical data is useless in demand sensing and forecasting. To combat unpredictable challenges, real-time, actionable data and supplier collaboration are crucial.
Businesses can’t continue to function efficiently with metrics that only give them backward views of data. There needs to be a shift in focus to the future, with scenario forecasting and risk mitigation taking a bigger role in supply chain planning.
Forward-looking and actionable data is just the beginning though. There is still so much uncertainty that is out of planners’ control. External data is as important as internal data, which is why enhancing supplier and partner collaboration will determine success.