What is the Digital Transformation of Planning?
In this video, we will discuss the digital transformation of planning. We will explore the following topics:
- The importance of planning in a digital world
- The challenges of traditional planning processes
- The benefits of digital transformation of planning
- The future of digital planning
In today's digital world, planning is more important than ever. With the increasing pace of change, businesses need to be able to make quick and informed decisions in order to stay ahead of the competition.
However, traditional planning processes are often slow, inefficient, and siloed. This can lead to missed opportunities, inaccurate forecasts, and poor decision-making.
The digital transformation of planning can help to address these challenges. By using digital technologies, businesses can break down planning silos, improve collaboration, and make better decisions faster.
There are many benefits to digital transformation of planning, including:
- Improved decision-making: By using data and analytics, businesses can make better decisions that are more aligned with their goals.
- Increased agility: Businesses can respond more quickly to changes in the market.
- Reduced costs: By automating planning processes, businesses can save time and money.
The future of digital planning is bright. As technologies continue to evolve, businesses will be able to use even more sophisticated tools to improve their planning processes.
So, Chakri, digital transformation is a really hot topic at the moment. But what is the digital transformation of planning and how does that fit into the broader context of digital transformation? Indeed Simon. Digital transformation is a hot topic.
Boards are challenging the C-suite of every global company based on the success of the Amazons, the Ubers, Netflix, which are fundamentally digital operating models, are digital first companies. They're challenging executives to say, what is the digital operating model of your company, the traditional brick and mortar company? How does that evolve into a digital operating model? When you look at all the traditional operating model companies, the digital transformation initiatives they're driving are quite siloed.
So, for example, most digital transformation initiatives are around a few categories. So customer engagement or customer engagement applications are part of digital transformation initiatives so that you can understand the customer better, closer, get closer to the customer. There's operations automation initiatives, whether it is operations of factories or warehouses, etc. There is embedding products, embedding technology into your products so you get more real time feedback.
So there's pockets of digital transformation initiatives going on in the area of decision making. A lot of investments are going into data science and algorithms to automate decision making. However, all these different initiatives the traditional brick and mortar companies are undergoing are extremely siloed. If I compare that to what Amazon does or what the Netflix, the digital first companies do, the real power of the digital operating model is that they're able to get the real time data, whether it's from customers or from the market or from the operations, and that is informing decision making almost in real time, the planning and decision making and is made richer by the real time data that they're able to collect from these digital connections to the market, customer and operations.
However, that's not happening in traditional brick and mortar companies. you have pockets of digital transformation initiatives, but the planning processes are still siloed, planning processes are still on spreadsheets, and they're not being informed by all this real time data that has been collected from these digital transformation initiatives. So our vision of a digital transformation of planning is not only breaking down all the silos of planning that exist within the corporation by bringing together all the siloed planning processes, but then making them richer and more intelligent and more faster with all the real time data that you're able to collect from these digital transformation initiatives that are connected to the customers, connecting to your operations, connecting to your suppliers.
And that's when real digital transformation happens. When you are able to connect the data with the planning and decision making in a bi directional way, not only is it actually informing your decisions, but then you can drive the decisions back to your customers and to your operations and your suppliers through digital mechanisms. So that's our vision for the digital transformation of planning, creating so-called what we call the What we call the digital brain. The o9 digital brain is the platform to enable a next generation integrated planning capability that is capable of sucking in all the data from the external sources, from your digital transformation initiatives, and then feeding back actions and decisions to your customers, your suppliers, and your operations digitally.
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