Lego has a team of 100 people dedicated to developing its green toys, and they need to make sure the company has an environmentally friendly product it can put on store shelves by 2030.
Decision intelligence technology driven by A.I. solves many of the hidden vulnerabilities and challenges that were brought to light by the COVID-19 pandemic.
The complexity of global supply chains requires a constant effort of readjustment and re-evaluation, and in the months following the outbreak of the COVID-19 pandemic, those global connections have become even more tenuous.
Companies can overcome some of the uncertainty they face in product cost estimation with a practice called “should cost” — and deliver smarter design, strategic sourcing and faster time to market.
With the coronavirus pandemic and its lingering effects, companies have now experienced how challenging it can be to plan and maneuver their supply chains around uniquely disruptive, once-in-a-lifetime events. But the unfortunate truth is that less severe events overwhelm or undermine supply planning all the time. Legacy tools are no longer up to the task of getting supply where it is needed most.
It might be tempting for businesses to use their procurement or market power to position themselves to survive the pandemic. However, new and uncertain economic realities will mean the old notions of power and market strategy won’t work.