Supply Chain Strategy Step 1: Admit You’re Wrong

September 29, 2022

With mountains of data combined with years of experience, organizations from the NFL to the world’s largest retailers and brands make “bet the farm” predictions. Yet, they rarely get them right. That’s because they use the past to predict the future.

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And, the past rarely forecasts disruptions, changes in consumer behavior or Achilles tendon tears. In this session, learn how the Patriots, Warren Buffet and the world’s leading supply chains succeed: they admit they’re wrong from the start.

Key Takeaways

  • 50% of NFL first round draft picks are considered busts
  • 50% forecasting error rate is typical
  • The best Wall Street traders don't try to time the market
  • Leading companies invest in structural flexibility

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