VISION & STRATEGY www.ceotodaymagazine.com 97 Look further into the future Scenario modelling allows planners to explore the options in the case of potential disruptions, such as a delay in the delivery of a raw material or what would happen if VAT changes in a particular market. By running a wide range of scenarios across the organisation, companies can anticipate the impacts on their ability to meet demand and the load on the supply chain as well as any financial consequences. Then, they can identify specific vulnerabilities or emerging opportunities and take appropriate decisions to prepare for them. A planning horizon of at least 36 months enables companies to align themselves to developing market requirements and detect new trends that may affect specific product development requirements or peaks in demand. Spend time on analysis, not data collection Unified data management eliminates the need to compile reports manually from multiple sources. Furthermore, with robust processes supported by advanced technological capabilities in place, employees have the time to run scenarios and carry out analysis rather than collecting and collating data. Intelligent artificial intelligence and machine learning analytics help ensure easy access to meaningful insights, enabling planning executives to focus on business-critical decision-making. Make data-driven decisions based on the latest information Strategy is determined on gut feel rather than in-depth analysis of the market all too often. Where decision-making is based on data, yearly budgeting practices can mean that information is out of date. By shifting to a rolling financial forecast, companies can make decisions based on the very latest data-driven predictions. In this way, planners are not simply relying on historical data but are instead navigating their way forward using the latest insights into market trends and opportunities. Additionally, the constant reevaluation of market conditions allows businesses to pivot quickly and change direction if required. Three benefits of integrated business planning www.oliverwight-eame.com
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