No One Wants a Trick When It Comes to Supply Chain Planning

In our world of supply chain management, there is little room for surprises. Much like getting the candy mix right for potential trick-or-treaters, supply chain professionals must ensure that products arrive on time and in the right quantities. Order too little (or offer unwanted items such as dental floss) and you risk getting your home egged. Order too much and you’ll eat waxy chocolate and tiny Dum-Dums into February. So, with this in mind, let’s explore the importance of meticulous supply chain planning and the haunting consequences of getting it wrong.

Inefficient supply chain planning can haunt your operations in a variety of ways. Imagine an industrial manufacturing facility that fails to anticipate surges in demand. If they do not plan effectively, they risk stock-outs, declines in contracted service levels, and increased operational costs. There are human costs to this as well with manual overrides to readjust forecasts, more team meetings to discuss the situation, and increased stress across the business. It’s a frightening proposition to deal with.

To move from trick to treat, planners must step away from the graveyard of Excel and complex macros. This begins with finding more ways to automate manual or multi-step processes and focus on the things that have the maximal impact on your business. Supply chain forecasting technology is the magic wand that enables accurate predictions of future demand. By analyzing historical data, market trends, and other pertinent factors such as weather or economic factors, we can make more informed decisions about production, inventory levels, and distribution.

A successful supply chain forecasting strategy can be likened to a well-honed crystal ball that reveals the future with uncanny accuracy. This allows manufacturers to optimize operations, minimize waste, and maximize profits. It’s the difference between having the right amount of raw materials in stock and being left with a surplus or shortage.

While forecast accuracy and demand are critical components, it is only part of the puzzle. The other part is supply chain scheduling, which involves creating a realistic roadmap to ensure that products move seamlessly from production to distribution. Poor planning can be as haunting as a cursed mansion, filled with hidden traps and unexpected dangers. For example, let’s assume you are an industrial manufacturer responsible for producing machinery components. If you neglect to plan their production schedules effectively, there will be supplier delays, production bottlenecks, and dissatisfied customers. Your software should serve as a control tower that provides visibility to threats seen and unseen, and provide air cover for your team.

As you are no doubt aware, in today’s digital age, technology plays a crucial role in supply chain forecasting and planning. Advanced software and artificial intelligence can process vast amounts of data, helping businesses make more accurate predictions and optimize their supply chain operations. Unfortunately for many, the ghost of past attempts to transform operations has fallen short of expectations. In our risk-averse industry, no one wants to find themselves “beheaded” for advocating changes that fail before the ROI is proven or the transformation is complete.

Arming yourself with both a solid plan and strong communication is absolutely necessary. There’s no point in casting your ROI spell in jargon and unmeasurable metrics. Keep it simple and real. To ensure that your supply chain doesn’t turn into a haunted house of horrors. Check out this webinar on making the ROI case for planning and scheduling before you begin planning your next project.

With the right technology, there is no reason to shiver in fear when taking the 1^st few steps in a transformative project. Cloak yourself in knowledge and trust in technology. You will find that there is nothing to be afraid of.

Talking to Arkieva is not scary. Our team of supply chain planning professionals can take the fear out of the planning process and ensure you beat your forecast and free up capital. Why not get a demo of our solution and see how we can help?  Regardless of whether you are a large enterprise or a smaller operation, Arkieva can “treat” you to a better supply chain.

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• Source: https://blog.arkieva.com/no-one-wants-a-trick-when-it-comes-to-supply-chain-planning/