Supply chains have faced unprecedented challenges in the past few years. The industry has experienced wild swings in supply and demand, labor shortages, and input scarcities. These disruptions continue to impact the global market, compounded by geopolitical tensions, inflation, rising costs, and shifting consumer demand. Planning for growth and resilience in the face of such turmoil is no easy task.
Enterprise resource planning (ERP) software and legacy processes simply can’t keep pace and no longer meets the evolving needs of today’s digital business. Visibility and resiliency across strategic, tactical, and operational time horizons, as well as functional processes and geographies is a must.
In this article written by the industry trade publication SupplyChainBrain, supply chain experts share their views on the current state of supply chains and the need for reimagining practices. Explore innovative ideas on the future of supply chain planning, with insights from thought leaders Lora Cecere, founder of Supply Chain Insights, and Matt Hoffman, Vice President Industry and Product Solutions at John Galt Solutions. With a deep understanding of supply chain challenges, the experts offer a distinctive perspective on reshaping supply chain planning to meet the demands of an ever-changing landscape.
By delving into the challenges posed by ongoing disruptions, the experts highlight the need for a paradigm shift in traditional planning models, with a focus on the critical role of AI and machine learning in enabling a more decentralized, collaborative, and data-driven approach.
Modern supply chains require an "outside-in" planning model that can handle large volumes of data in real-time. Conventional planning models that rely on internal historic data and lag behind market trends by six to eight months are no longer effective. There is a need for a more dynamic, granular, and decentralized planning approach that incorporates both internal and external data and accounts for uncertainty.
To unlock the full potential of this new planning paradigm, companies need to connect all data, decisions, and operations and enable internal and external stakeholders to collaborate effectively. Digitalization efforts must be supported by next-generation technology and a phased approach to implementation, ensuring a smooth transition and maximizing business value.
It's time to rethink and reshape supply chain planning. Read this article to explore forward-thinking insights and real-world examples to equip you with the knowledge and strategies to enhance visibility, resilience, and decision-making.