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EXECUTIVE SUMMARY
The vast majority of articles focus on the tools or processes required to increase forecast accuracy. There is another-even more-contributing factor to which any organization can be attentive that will not only improve the demand plans but also demand planning. This article focuses on the people part of demand planning and helps show how to achieve effective demand planning by instituting a best-in-class talent management strategy. We will look at the four key pillars in effective talent management, how they relate to demand planning, and how they can be utilized.
Demand Forecasting and Planning is about people, process, and technology. Unfortunately when one reads most articles today, it wouldn't be evident. This is not to say that in a field of forecasting, there may be a bias, which is understandable, but practitioners just speak about process and software providers about technology. This goes on as little to no attention is paid to one of the most important variables in planning: people.
As supply chains evolve to become more demand-driven, the demand planning role also needs to evolve. It is essential that companies focus on creating and maintaining a revolutionary talent strategy to drive the evolutionary processes and systems within the demand planning functional area. Sadly, most companies are driven by the bias of what they read or just a lack of understanding about demand planning; talent management is neglected. Since demand management processes depend on talented and dedicated people, businesses that do not evolve their demand planning talent management process are at great risk. Our goal is to revive a focus on the people part of the equation and show how to achieve effective demand planning by instituting a bestin-class talent management strategy. For the demand planning to succeed, organizations must have in place:
* Strong talent based on core competencies;
* Right career-path culture and visibility within the organization;
* Proper training and development; and
* True performance-based management.
These four pillars will enable demand planning organizations to have the ability to keep up with the processes and technology they try to employ. Without the focus of developing and sustaining forecasting and demand planning talent, organizations may find it difficult to mature their overall supply chain effectiveness.
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