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How is our knowledge to assumption ratio for Supply Chain planning and execution?
Supply chains do operate in a VUCA environment, where many variables are difficult to predict. As a result, supply chains must continuously improve their capabilities to sense demand shifts, flexibility and responsiveness.
While the capabilities are improving, we must nevertheless make certain assumptions in planning and execution. It is going to be an integral part of every supply chain. The question is… what is our knowledge to assumption ratio and is it improving?
It is indeed possible to set this improvement as a process by collecting actual feedback on our assumptions, analysing it for patterns and converting it to knowledge. If we keep converting our past assumptions to knowledge, the ratio will improve. Else it will deteriorate further in future.
Are you consciously trying to improve it for your supply chain by setting it up as an improvement process?