Supply chain planners are focused on meeting user needs, while balancing long-term organizational initiatives. For example, revenue growth and supply chain agility.
Supply chain planners must consider these 3 fundamental strategies for their effectiveness.
1. External Variable at Scale
Supply chain planners need to consider the impact of external factors in real-time to make informed decisions in the middle of an economic recovery.
2. Demand History & Evaluate Scenarios
They will have to normalize their demand history to consider outliers. Such as the impact of COVID-19 and its implications. This is important, as the planners do not want these values to interfere with the historical data for future projections. Additionally, supply chain planners will need to evaluate what-if scenarios to resolve current gaps and make adjustments for future disruptions.
3. Leverage Artificial Intelligence and Machine Learning in your Supply Chain
AI and ML today are considered mature technology that have transformed the role of the supply chain planner.
When you consider that supply chain planners spend an average of 70% of their time fighting fires, it can seem impossible to manually consider external variables, normalize demand history, and evaluate what-if scenarios at the same time.
Source: BlueYonder