14 Jul, 2021
Throughout the Covid-19 pandemic, organisations using S/4HANA in their planning have found themselves more accurately able to predict market conditions in a time where many manufacturing organisations have been forced to rethink their forecasting processes.
Instead of planning with a degree of certainty, the corporate world has found itself having to plan for uncertainty, creating plans, and back-up plans.
Traditional forecasting has rapidly become obsolete as supply chains around the world have faced new challenges. From the products in demand, to how these products are delivered, organisations have had to wrestle with substantive change.
We’re fortunate enough that technology offers us a way to manage this upheaval and strengthen our position as we move forward.
Access to data is critical to establish a strong business understanding in today’s changeable climate. Traditionally, forecasting has been carried out by different departments at month end, using a multitude of systems such as SQL, Oracle, or Excel, often held on disparate servers. However, these go-to data management solutions relied upon over the last 20 years are no longer helping enterprises to get ahead. They are instead holding businesses back from making accurate forecasts and informed decisions.
Data as an inhibiter to organisational agility
The siloed approach to data management that has evolved over recent decades makes collation very difficult, preventing enterprises from attaining the 360-degree view they need to make effective and qualified business decisions.
For those organisations operating ECC, despite a clearer view of their business than counterparts using more disparate solutions, delays in the speed with which they can attain the data they need will still impact their operational agility.
Identifying an opportunity for stronger growth
Challenges brought about by an evolving marketplace can trigger change, as businesses find ways to overcome the short-term issues they face. However, it’s only by embracing the opportunity to reimagine the way we work to lay the foundations for a stronger, more successful business moving forward that will thrive as the economy improves.
This is a subject we’ll be discussing more in our webinar ‘Planning for Uncertainty – how to gain advantage in uncertain times with S/4HANA’ on Thursday 29th July at 10:00 BST.
By taking the opportunity of enforced change to embrace technology like SAP S/4HANA to manage uncertainty and consolidate data into a single source of truth that can be relied upon to deliver valuable, robust and reliable insights, organisations can create a strong platform from which they can build business growth and enhance agility, making the most of opportunities within the market.
This is particularly relevant for those using ECC, for whom the discontinuation of support looms on the horizon, threatening inevitable migration in the long-term.
SAP S/4HANA adoption delivers a 360-degree view of the entire supply chain enabling users to make decisions that can positively impact the bottom line, futureproof production, and consistently meet clients’ expectations. It’s this visibility that will separate those businesses that thrive from those that can just survive.