You’re used to coping with complexity: Deciding on the best course of action when your delivery has stalled due to traffic congestion, when you need to assess the feasibility of outsourcing airport staff to meet high passenger volume or quote accurate delivery dates amidst supply uncertainty.
We get it. Complexity is a by-product of business growth. But here’s what you may not know: Complexity is something that you can control. And it all starts with you and your planning team.
Based on our experience in the field, we at Quintiq believe that you can master complexity in the digital age with a winning formula of visibility, data analytics and agility. We discussed these capabilities in our latest e-book while taking a closer look at complexities found in different industries.
What you can’t see could hurt your bottom line
Without complete visibility into every aspect of your operations, how can you make informed decisions?
Companies across a wide range of industries still make major decisions based on incomplete information of their operations. However, timelines are shrinking and markets becoming more diverse. You can no longer get by with decision-making processes that are based on limited visibility. You need clarity into your operations to make the right call at the right time, or risk losing profits and customer loyalty.
Your data can help you decide what’s best
Imagine this: You’re a food & beverage manufacturer who wants to run a promotion for your chocolate milk drink and you need to decide between a 10% and 20% price decrease. It’s a complex decision and one that requires thought and precision but you do not have the luxury of time. How quickly can you see which percentage will drive more sales without hurting the bottom line?
To boost your company’s position and make complexities work to your advantage, you need to analyze your data for insights that will help you produce better planning results. In its most advanced form, data analytics can help your planners select the best solution from an almost infinite number of possibilities.
Keep your operations on its toes
Agility has never been more important in the digital age, where things can change at a moment’s notice and customers expect fast turnarounds. From our experience, we see that agile companies have a clear advantage over the competition, able to offer higher service levels while keeping inventory levels lower.
The key to agility is to have the right information at your fingertips and adjust your operations where necessary. Just as important is the ability to immediately calculate and understand the impact of events across your entire operations and make optimal decisions. You then minimize the side effects of disruptions by continuously optimizing and re-planning schedules.
Complexity will only intensify over time
Digitalization is already changing the game in many industries. The more opportunities it presents, the more complex it gets over time. But we’re smart. We’re adaptable. We are driven to learn, change, measure and improve. Download the e-book now and be inspired to master complexity in your operations.