How Data-Driven Planning is Reshaping the CPG Industry
Data-driven planning is the new competitive advantage in the Consumer Products industry.
Published: August 2, 2023
— In a world of escalating complexity, mastering uncertainty with dynamic planning, tech-savvy solutions, and geopolitical awareness is the new linchpin of competitive advantage in supply chain management.
The following are the main takeaways from an executive panel at aim10x live London, featuring Gustavo Ghory, former CSCO at Kimberly-Clark, and István Meszes, Executive Director of Global Supply Chain Planning at Avon.
The first lesson from Istvan and Gustavo is the need for businesses to embrace uncertainty. Rather than fearing the unpredictable, companies should focus on what they can control and develop strategies that can adapt to changing circumstances. In an ever-changing business environment, agility and flexibility are crucial for maintaining a competitive edge.
Leverage Technology and Data-Driven Planning:
Both leaders stressed the growing significance of technology and data in supply chain planning. Investing in robust data systems and analytics tools enables businesses to gather real-time insights, make informed decisions, and proactively respond to potential disruptions. By harnessing the power of technology and data-driven planning, companies can optimize their operations and stay ahead of the curve.
Prioritize Organizational Readiness:
Istvan emphasized the importance of organizational readiness in adopting new technologies and systems. This readiness encompasses having the right talent in place, providing comprehensive training on new tools and processes, and fostering a culture of adaptability and continuous learning. By focusing on organizational readiness, businesses can ensure smooth implementation of new strategies and technologies.
Acknowledge the Role of Geopolitics:
Gustavo highlighted the impact of geopolitical dynamics on supply chain management. Companies must be aware of the complexities surrounding international trade and geopolitical landscapes. This includes considering factors such as trade policies, regulations, and potential disruptions in different regions. By factoring in geopolitical influences, businesses can develop strategies that are resilient and adaptable to changing political environments.
Focus on Continuous Improvement of Capabilities:
Both executives emphasized the need for continuous improvement of supply chain capabilities. This involves maximizing the potential of existing tools and systems, nurturing strong internal and external partnerships, and regularly evaluating and refining supply chain strategies. By consistently assessing and enhancing capabilities, businesses can stay ahead of industry trends and maintain a competitive advantage.