Without doubt, technology advancements have significant merits, but they need to be implemented alongside a thorough transformative strategy to ensure sustained success.
Organizations can be quick to buy into ‘miracle’ products and spend time and money on systems but won’t spend on the actual transformation needed for business planning or the supply chain itself. It’s understandable, but ultimately unwise.
Although software systems need to complement an existing IBP process, IBP in the 21st century is also inextricably reliant on the data these software systems capture. In fact, modern IBP has for some organizations evolved into Enterprise Business Planning (EBP) which uses the latest technology such as AI and demand sensing to provide control in volatile, consumer-driven and unpredictable environments.