One way to bridge these gaps is with integrated business planning that involves people, process, and technology elements of the business.
This process integrates financial strategic budgeting and forecasting systems with operations planning and allows smart trade-off decisions to be made for the business.
Strategy 3: Optimize product designs and product management for supply, manufacturing, and sustainability to accelerate profitable innovation.
Innovation is crucial for being one step ahead of the competition. To be successful, products must be manufactured at the right cost, place, and time.
With the arrival and maturation of cloud supply chain technologies, businesses now have the ability to see exactly where all of their inventory is—in real time—from the store shelf back to the manufacturer.
An agile demand-driven supply chain requires end-to-end visibility across the business from buyers and the market to supply. Strategy 2: Build an adaptive and agile supply chain with rapid planning and integrated execution.
The years from 2007 through 2009 were notable for their economic volatility, reflected not only in the global economic recession but also the instability of customer demand and rapid movement in raw material, fuel, and commodity prices.
Supply chain executives were under pressure to develop more efficient, customer-centric supply chains while finding innovative ways to reduce costs and enable growth.
This can minimize or even eliminate shocks across the supply network.
The results include better visibility; enhanced collaboration across the value chain, including reliable and predictable sourcing and supply, manufacturing, transportation, warehousing, and distribution; and accelerated decision-making with better analytics and support. Market reactivity, in the moment, has never been easier to achieve than it is today—again, with cloud technology and the right people, process, and technology capabilities.