Systematic supply chain planning processes and workflows are important. Because, they ensure suppliers commit to plans based on facts instead of gut feeling and intuition.
Shared forecasts allow suppliers to plan ahead. As a result, suppliers can provide a better service to you.
Suppliers are fighting blindly without forecast data. On the other hand, having a solid forecast allow suppliers to prepare and plan ahead.
For instance, this could be small decisions, such as allocating capacity or scheduling maintenance. However, it could also big strategic decisions, such as making plant and equipment investments.
Suppliers should not commit to forecasts based on gut-feeling and intuition. Prescience helps suppliers make informed forecast commitments.
Having actual data allows planners to take capacity fluctuations into account. And more importantly, planners see when suppliers CANNOT deliver as planned.
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