Is planning around the Supply Chain cutting it?

Here are a few of my insights from the SCL event in London on 8th Feb 2024.

There is an increased reliance on advanced technologies such as artificial intelligence, machine learning, and predictive analytics to enhance decision-making processes. Companies are looking for the integration of digital platforms and tools to enable dynamic decisions through visibility and collaboration across the entire supply chain. With an emphasis on agile supply chain strategies that can quickly adapt to changes in demand, disruptions, or market dynamics. With a focus on the use of scenario planning to model and prepare for various potential scenarios, allowing for proactive decision-making.

Conversations arose around the use of dynamic and demand-driven planning systems to optimize stock levels based on demand signals driving more dynamic allocations. There is an increase in the sharing of data through collaboration and integration among supply chain partners, including suppliers, manufacturers, distributors, and retailers, to enable better planning decisions.

We cannot ignore the growing emphasis on sustainable and environmentally friendly supply chain practices, and the integration of sustainability metrics and considerations into planning processes to align with global environmental goals.

The ongoing focus on building resilient supply chains capable of withstanding and recovering from disruptions was a hot topic, especially in light of global shipping changes currently occurring. The implementation of risk mitigation strategies and the diversification of suppliers to reduce vulnerability to external shocks is a perpetual challenge at present.

The customization of supply chain planning to meet specific customer needs and expectations is resulting in the utilization of data analytics to better understand customer preferences and behaviours, facilitating more accurate demand forecasting.

Some fascinating conversations with some excellent insights.