The hallmarks of future success
As part of the forum we discussed the characteristics of the enterprise of the future, to see how CGR businesses can stay ahead of the competition. Successful companies will evolve in radically different ways to make faster, more accurate decisions for the benefit of customers. Ultimately, this evolution will lead to "instinctive enterprises."
Organized around the customer, instinctive enterprises will have AI as their neural wiring, connecting people, processes, and domain knowledge. They will thrive via connected ecosystems – internally and externally – predictive insight, and adaptive workforces, which will enable them to have more agile supply chains and meet the demands of business customers and consumers alike.
To become instinctive enterprises, however, CGR companies will need to transform manufacturing, transport, third-party logistics, warehouses, supplier relations, planning, forecasting, inventory, and order management. If we look at the planning and forecasting challenge specifically, how can supply chain teams create predictive insights to balance over-optimistic sales forecasts with lean inventory levels that keep finance happy? Eighteen-month forecasts don't help, as predictions are hazy after the first three months and rapid changes in consumer behavior make them redundant. Fire-fighting these types of issues makes it hard to prioritize large-scale digital change.