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How do we enhance collaboration between finance and supply chain teams?
Our company is currently facing challenges in aligning our finance and supply chain teams to work together effectively. The lack of coordination between these departments is causing delays, errors, and inefficiencies in our planning processes. We need a solution that can enhance collaboration, streamline our operations, and ensure that both teams are working from the same set of data to make informed decisions. We’re looking for strategies and tools that can help bridge the gap between finance and supply chain, improve data transparency, and ultimately lead to better planning outcomes. -
1 Solution
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To get finance and supply chain teams on the same page, here’s what we can do:
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Adopt a Unified Platform: Find a centralized platform that both teams can use. This way, everyone has access to the same data, and we eliminate the disconnect between different spreadsheets and systems.
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Automate the Basics: By automating data aggregation, forecasting, and reporting, we can cut down on manual work and reduce the risk of errors. This also ensures that everyone has up-to-date information when they need it.
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Create Shared Dashboards: Develop dashboards that both teams can access. With shared KPIs, everyone can see the same metrics and track progress together.
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Regular Cross-Team Check-Ins: Set up regular meetings between finance and supply chain teams. These check-ins will help us review data, discuss any challenges, and make decisions together.
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Use Flexible Tools: Leverage no-code tools that allow both teams to customize their reports and dashboards. This flexibility is crucial for adapting to changing needs without getting bogged down in technical details.
How StarKist Improved Team Collaboration with Board
StarKist, a leader in the food industry, faced similar issues when their finance and supply chain teams struggled to stay aligned. They turned to the Board Intelligent Planning Platform to bring both sides together.
1. Bringing Everyone Together on One Platform
Problem: StarKist’s finance and supply chain teams were using separate spreadsheets, leading to miscommunication and inefficiency.
Solution: They implemented the Board platform, which provided a single source of truth for both teams. This move eliminated the chaos of juggling multiple systems and made sure everyone was working with the same real-time data.
2. Automating the Workload
Problem: Manually pulling together data was slow and often inaccurate, making it hard to make timely decisions.
Solution: With Board, StarKist automated data aggregation and reporting, cutting the planning cycle from 16 hours to less than one. This not only sped up the process but also made sure that both teams had reliable data at their fingertips.
3. Aligning with Shared Dashboards
Problem: Without a unified view, finance and supply chain teams were often out of sync.
Solution: StarKist used Board to create shared dashboards and KPIs. These tools gave both teams visibility into key metrics, helping them stay aligned and work towards the same goals.
4. Facilitating Regular Team Check-Ins
Problem: The lack of communication between teams was causing delays and missed opportunities.
Solution: The improved visibility and data access provided by Board made cross-functional meetings more effective. Finance and supply chain teams could now discuss data-driven insights and make collaborative decisions in real-time.
5. Embracing Flexibility
Problem: StarKist needed to stay agile in a fast-changing environment, but their existing tools weren’t cutting it.
Solution: Board’s no-code platform allowed StarKist’s teams to customize reports and dashboards without needing IT support. This flexibility empowered them to quickly adapt to new challenges and requirements.
StarKist’s experience with the Board platform shows just how much a unified system can do to bring finance and supply chain teams together. By centralizing data, automating routine tasks, and creating shared dashboards, they were able to cut down on errors, speed up processes, and make better decisions. For any company dealing with similar issues, following a similar path could lead to better collaboration and smoother operations.
https://www.youtube.com/watch?v=MlwS8ozrOlA -
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