Is there any point Planning in today's world
The speaker argues that business planning remains valuable even in uncertain times like the COVID-19 pandemic. While acknowledging that plans are not facts, they emphasize that the planning process itself provides crucial benefits for scenario thinking, cross-functional collaboration, and creating feedback loops for monitoring progress.
Summary
The discussion centers on whether business planning has value in highly uncertain environments, using 2021's unpredictable retail landscape as an example. The speaker maintains that this debate predates the current crisis and argues strongly for planning's continued relevance. They explain that planning serves as a brainstorming and scenario planning process that helps organizations anticipate various outcomes and think creatively about potential responses. This process often generates innovative ideas that weren't previously considered. Beyond creative thinking, planning provides structural benefits by unifying different business functions, forcing macro-level thinking about interdependencies, and breaking down organizational silos. The speaker emphasizes that modern planning requires comfort with uncertainty - treating plans as scenarios and ideas rather than fixed facts. A critical component involves clearly laying out assumptions so teams can quickly identify deviations and make informed adjustments. Finally, they argue that planning creates essential feedback loops for monitoring progress and performance, noting that measuring against plans shouldn't create blame culture but rather inform ongoing decision-making.
About this episode
Is there any point to planning in today’s world? I think you already know my answer to that … hell yes! I love the Replan activity. Here are a few reasons (aside from the more typical performance benefits that come from Planning and Replanning in an MFP / MSSI / WSSI). It takes you through a brainstorming process, so you can anticipate what could go well and not so well, and what you might do about that. It leads you into creative thinking, so you can consider ideas that where not on the table before, and implement new strategies. It's a good process to unify cross functionally, forcing you out of silos, resulting in more macro and strategic thinking. If you have not planned where you are going - how do you know if you are on track? how do you know what to do more or less of? If you have a plan you can measure against it - we won’t have to be sad if we don’t hit our numbers, it doesn’t mean it was a waste of time, it’s a critical part of the feedback loop. There is plenty of value in planning ahead - you just have to be ok with the idea that they are “plans”, not “facts”.____ ✅ Subscribe to our YouTube channel ✅ Join our Merchandise Planning community at https://smartinplanning.ac-page.com/stay-connected-planning-matters?test=true ✅ Visit our website to receive our blog and updates to your inbox https://www.smartinplanning.com/blog ✅ Share, like and follow us on social for more "Planning as it should be" ✅ Check out our ONLINE TRAINING in Merchandise Planning at SMART SCHOOL: https://smartschool.smartinplanning.com _____ SMART IN PLANNING - Merchandise Planning Solutions - Multi-award winning solution provider as voted by Retailers Founded by Susan Martin _____ #planningasitshouldbe #merchandiseplanning #everythingmerchandiseplanning #retail #training #learning #education #bigbox #fashion #smartinplanning #merchandiseplanningsolutions #theartandthescienceofplanning #changingthefaceofplanning #planning #merchandise #apparel #merchandiser
Key Insights
- The speaker argues that planning forces organizations out of silos because business relationships and interdependencies are heightened during uncertain times
- The speaker claims that the planning process often leads to creative ideas that weren't originally on the table, potentially resulting in awesome new opportunities
- The speaker contends that without a plan to measure against, organizations cannot effectively monitor their progress or know whether to do more or less of their current activities
Topics
Transcript
[0:00] 2021 who could have predicted inventory and stock in 2021 when you don't know what store is going to be open and you know what the world's going to do what do you say to people who say there's actually no point doing too much planning in today's world yeah in a funny way nathan i think i've been having that debate with people way before we entered this crisis um i think that there's always been a little bit of a you know you can't know any way and you can't but um i think what um i think what it does is it it it takes [0:31] you almost through that brainstorming process it takes you almost…
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