Ever since access to ubiquitous real-time data emerged as a technological reality, businesses have been lured by the possibility of redirecting their supply chains toward a model driven by demand. Applying analytics software to make sense of big data could allow organizations to close the gap between demand and supply.
Finance and supply chain: These two essential business functions speak different languages and live in different worlds. Both contribute mightily to the success and the profitability of their companies, in their own ways. Manufacturers need to get them to synchronize if they are to survive and succeed — and to achieve the agility and the resilience everyone strives for coming out of the pandemic crisis.
Challenge: A global manufacturer has been evolving from a logistics culture to global supply-chain culture. Due to fast-changing regulations and market expectations, the ability to anticipate customers’ requirements has become strategic. Now the entire supply chain must be ready to meet their needs.
Lisa Anderson, founder and president of LMA Consulting Group Inc., offers advice on how supply-chain managers can function efficiently in a time of deep uncertainty – and why's it's vital to achieve visibility of both customers and suppliers.