overcome decision fatigue
However, deciding where to invest to optimize operations is not easy.
“When you’re facing some kind of challenge, it’s easy to throw money at it, but you have a lot of choices about where to spend that money, so it’s really important to understand where that money can be used most effectively,” Watson said in his speech. Webinar hosted by SAP In October.
“Going for the lowest price is often a natural reaction,” said panelist Peter Charette, principal director at Accenture. However, due to wide variation in tool maturity and enterprise capabilities, CPGs must consider specific use cases (such as post-event data, input, and calendar optimization). Whether stakeholders will accept the investment. Challenges that may arise during implementation. Are compliance checkpoints cleared?
Watson suggested that when selecting different tools, start by understanding what the company has done in the past – what has been successful from a variety of internal and external perspectives. That way, it makes sense for everyone involved, including the customer.
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Harris Vogel, former global head of consumer products and FMCG industry expert, says companies are primarily investing in end-to-end visibility in terms of promotions and demand planning.
For Georgia-Pacific, the power of predictive analytics is key. Use automated insights to determine success rates and where your business can be further optimized.
For example, the company uses generation abilitystreamline analytics and deploy intelligent decision management tools to leverage sensor data, business rules, and recommendation systems within manufacturing operations to quickly determine next steps.
This is an effort to improve data and communication velocity by freeing the company from manual, offline Excel spreadsheets and enabling sales teams to understand supply and demand through back-end integration.
Data supported by people
However, Watson cautioned against going all-in on automated predictions, as they could be wrong. The company is working on an optimization process to determine what should go forward and what should be cut.
“How do you predict an outcome that you haven’t even tried yet? And I think that’s where we can maximize our potential to be more effective by trying to model something that hasn’t happened yet,” he said.
Overall success comes when companies keep humans at the center of every decision.
“You need to communicate and have conversations, and you need to understand what the data means. I don’t think it’s just the technology part,” he said. “I think it starts with being able to share that information efficiently through a managed process. You can’t just feed data from one functional group to another and leave it there.”
