Supply chain leaders discuss how to deal with volatile markets
This was one of the questions that a group of executives from FMCG, food and retail companies discussed on the EyeOn inspiration event in the ADAM tower in Amsterdam Wednesday 13th of November.
For many companies’ market circumstances are volatile, varying from global politics to individual consumers who can shift buying preferences ‘in a click’. Next to that data is everywhere, the war on talent is increasingly challenging and sustainability is driving major changes in how to be successful. Although many value chains are more transparent than ever before, this hasn’t made us better planners or decision makers (yet).
Luckily the possibility of next level planning and decision processes is available. Discussing the possibilities of no -touch planning with self-driving cars, the clear conclusion by all was that we need to improve 1-2 levels in the next few years.
Tooling and data are no limiting factors anymore. The group agreed that organisational readiness, cultural change and embracing the potential of analytics deserve the most attention in making the next steps.
The changing world of internet platforms is making clear that business models are changing and most likely will impact everybody not only in B2C but also in B2B, according to Maurice Jongerius from Bol.com. The consequences are not only technology driven but even more on the people side. Leaders and managers should start changing themselves!
Conclusion: Transformation thinking is key!
Overseeing Amsterdam, the conclusion was that transformation thinking is key!
5 best practices to start transforming tomorrow were shared by André Vriens & Jan Veerman:
- Ask the right questions for your business!
- Start collecting and storing data as of tomorrow
- Build strong analytical skills and embed analytics in business processes
- Collaborate with all relevant stakeholders in and outside your company
- Remain agile, just start!
Do you want to know more? Please contact André Vriens to discuss!