Effective supply chain planning is the key to unlocking operational excellence and driving business success. Photo by VNA.
Emerging market demand and supply chain management experts conducted an industry study on supply chain planning to get insights and handle business difficulties in this crucial area.
The findings illuminated supply chain planning processes and gave a roadmap for improving them. Supply chain professionals, decision-makers, and industry experts participated in the study.
Data preparation takes 41% of overall planning time, highlighting the need for efficient tools and procedures.
30% of firms utilize specialized planning software, while 35% use Excel spreadsheets, indicating the need of embracing sophisticated planning technologies to improve accuracy, cooperation, and planning effectiveness.
Supply chain planning was hardest for 44% of respondents due to demand uncertainty. This emphasizes the necessity for effective demand management and real-time data to increase forecasting accuracy.
16.7% of organizations do not incorporate finance into their planning process, missing a chance to connect financial goals and objectives with supply chain planning.
67% of supply chain professionals were dissatisfied with their planning tools, indicating that technological solutions must evolve to match their demands.
These study results underscore the importance of supply chain planning in today’s competitive environment, according to CEL founder and managing partner Julien Brun.
Supply chain planning unlocks operational excellence and corporate success. Strong supply chain planning techniques save costs by 15% and inventories by 20-30%, according to studies.
They also deliver 99% on-time and enhance client satisfaction by 20%. Companies may maximize productivity, costs, and customer value through optimized supply chain planning.”
Source: Vietnamplus
