Rich Sherman says the Internet of Things will combine with Web 3.0 technology to create what he calls "Smart Supply Network 3.0." Sherman shares his vision of how this evolution will change the supply chain for the better.
Analyst Insight: The industry finds itself in the eye of a perfect storm. Profits are falling from the patent cliff, pressuring companies to adopt new supply chain value propositions. Regulatory compliance and the Affordable Healthcare Act create process and cost pressure. The cold chain manages the Cs: challenges from complexity, connectivity, compliance and continuum of care. And, above all is the shift from fee-based services to outcome-based care and payment. - Rich Sherman, Principal Essentialist, Trissential
Analyst Insight: When asked why he robbed banks, Slick Willy answered, "Because that's where the money is!" Where's the money in your company? Capital for new projects is a real challenge, with an appropriation process that is complex, political and arduous, commanding the attention and scrutiny of the executive committee. Yet, planners and schedulers armed with custom spreadsheets routinely make million-dollar working capital decisions every day! - Rich Sherman, Principal Essentialist, Trissential
Analyst Insight: Sherman's Law of Forecast Accuracy states that forecast accuracy improves in direct correlation to its distance from usefulness. It's time to stop being driven crazy by demand variability. Don't be driven by demand; sense, shape and respond to demand. Your company can better predict and respond to demand variability through integrating forecasting techniques with demand planning techniques; in a word, collaboration! - Rich Sherman, Principal Essentialist, Trissential
Analyst Insight: In the world today, there are 6.8 billion people; 4 billion have mobile phones. Only 3.5 billion use a tooth brush! There are more U.S. mobile subscriptions than people; 70 percent use their smartphones during their in-store experience! Why should we care in CPG? One fifth of searches are for CPG products. Online-to-offline (O2O) commerce is expected to grow 50 percent over 5 years, outpacing offline commerce and exceeding online ecommerce by over 400 percent (!), according to Forrester Research. - Rich Sherman, Principal Essentialist, Trissential
Analyst Insight: Combining supply chain analysis and consulting topics is more logical than you think. Best practice/market leading companies regularly use outside consultants. When you look at the roll of consultants' clients, it includes all the leading companies. Leaders know that to innovate, they have to
'break the rules" - extending beyond status quo. They know that analyzing and improving supply chain process performance requires full-time commitment and expertise - to look at processes from the outside in.