"SIOP" stands for Sales, Inventory, Operations Planning (SIOP). Depending on the industry or organization, you may also hear it referred to as “S&OP” or Sales and Operations Planning. Sometimes, it is even referred to as “IBP” or Integrated Business Planning. Typically, they mean the same thing. The most important words to emphasize are planning and alignment.
Supply chain visibility allows companies to track and access real-time data across every tier of the supply chain, from raw materials at your suppliers' supplier to delivery of finished goods to your end customer. Supply chain visibility has become of paramount importance to ensure customer satisfaction and to profitable growth.
Companies are overwhelmed with data. There is ERP related data, global supply chain data, world economic data, industry and market data, customer and supplier data, email communications, and the list goes on.
In the last month, we've participated in at least six economic forecast presentations or discussions with experts (economic, banking, investment, manufacturing). Although they each had nuances, common themes emerged. Adding our expertise into the mix, we see volatility on the horizon.
Lisa Anderson of LMA Consulting Group was quoted in the Snowflake blog about how data is critical to healthcare - especially in times of supply chain vulnerability as a result of natural and man-made disasters.
In working across company sizes, industries, and geographies, in almost 20 years of business consulting, every single client without exception needed to better utilize data to improve customer service and bottom line results. Smart clients are turning data into insights so that they can pinpoint where to focus quickly.
I went to Finland to see the northern lights, or the aurora borealis. Getting there is no piece of cake. We flew through London, took a 2-3 hour flight to Helsinki, Finland, and then took another flight to northern Finland (almost another 2 hours) and then drove 40 minutes to the resort (of course, north). It isn't for the faint of heart with temperatures in the negative numbers, requiring 6 or 7 layers minimum to allow you to stay outside for short bursts of time (although not very long as you'll start growing icicles), but the experience is worth it!
It depends. Being the first to upgrade for each new fad is a waste of resources for little, if any, benefit. On the other hand, if the upgrade supports your ability to serve customers and grow profitably, it will become a "must".
The LMA Experience: Geoff Michalak, Integrated Business Planning Manager, Armacell LLC discusses their experience with LMA Consulting.
Improved supplier data will give your supply chain the competitive advantage to drive customer loyalty.
