As we look ahead to 2024, the world of supply chain management continues to evolve rapidly. Richard Howells nicely summarized the emerging trends and challenges in his supply chain predictions for 2024. Clearly, supply chain planners need to stay ahead of the curve to ensure their organizations remain competitive and resilient. In this blog post, I would like to suggest five intentions for supply chain planners in 2024, and also highlight how SAP Integrated Business Planning (IBP) can help to realize them.
1. Embrace Risk Resiliency
Supply chain disruptions have become more frequent and severe in recent years. Supply chain planners must prioritize risk resiliency by adopting strategies such as on-shore, near-shore, and off-shore sourcing to be closer to the actual demand. SAP IBP provides the necessary visibility and collaboration tools to identify potential risks and develop contingency plans. By leveraging predictive analytics and real-time data, supply chain planners can proactively simulate what-if scenarios, and immediately respond to disruptions to ensure business continuity. Also stay tuned and watch out for further joint innovations with SAP partner Everstream.
2. Focus on Sustainability:
Sustainability is no longer a choice but a necessity. In 2024, organizations will face increasing pressure to address environmental, social, and governance (ESG) concerns. Supply chain planners must prioritize sustainability by understanding and disclosing their carbon footprint and emissions. SAP IBP enables organizations to track and analyze sustainability data across the supply chain, identify areas for improvement, and collaborate with suppliers to drive sustainable practices. Check out how SAP IBP leverages product footprint analysis.
3. Enhance Transparency and Predictability:
Visibility into the supply chain is crucial for effective decision-making. Supply chain planners need to leverage digitalization and AI-powered analytics to gain real-time insights into their operations. SAP IBP offers advanced analytics capabilities that enable supply chain practitioners to predict and respond to upcoming challenges. By leveraging these tools, planners can make informed decisions based on future trends and take proactive measures to optimize their supply chain. Check out how SAP AI helps supply chain planners already today.
4. Embrace Digitization and AI:
Digitalization and AI are game-changers for supply chain management. In 2024, organizations must invest in supply chain technology to improve agility, resilience, and efficiency. SAP IBP provides a digital platform that integrates various supply chain processes, enabling companies to handle disruptions effectively and accelerate decision-making. Watch out how Joule, the SAP generative AI assistant, will revolutionize how you interact with SAP business systems.
5. Check out the fresh look and feel of SAP IBP:
Hot off the press, find here a product tour which shows you the key scenarios and capabilities of SAP IBP. A sustainable, risk-resilient supply chain demands connected processes and fast, flexible planning that can stand up to disruption. Check it out now!