BIG DATA & ANALYTICS
IT ’ S NOT QUITE A CRYSTAL BALL , BUT DATA-DRIVEN DECISIONS ARE ARGUABLY THE BEST WAY TO MITIGATE THE RISKS OF A FUTURE FOREVER IN FLUX AND DELIVER TOMORROW ’ S GOALS TODAY
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Deterministic models – modelling the future based on the past – don ’ t handle changes very well . The past is a great predictor of the future , but only until it ’ s not . The great toilet paper debacle of 2020 is a shining example . If you ’ re lucky enough to be in an industry that sees very little change in either supply or demand and faces no threats to its supply chain , then perhaps luck is all you need .
If you ’ re not , I suggest you keep reading .
For many , S & Op planning is a heterogeneous process , consisting of a mashup of information derived from disparate systems . Organisational data often lives in silos . Although you may have an ERP , or WMS in place , more often than not when it comes to S & Op planning , including procurement , more is needed .
Hence , each department often has its own additional set of spreadsheets , apps , and other information gathering and analysis techniques that are all then pieced together to arrive at an S & Op plan . To say it ’ s a complex thing is putting it lightly . It ’ s a beast . Now let ’ s add to the confusion .
FEBRUARY 2021