Managing volatility: how much flexibility do we actually need?

Quantifying the volatility we experience defines the gap, the first step to success. You need this analysis to engage the support and buy-in of colleagues and stakeholders and it’s an essential part of designing solutions.

Our benchmark research last year showed that most organisations are not quantifying volatility and flexibility requirements. Furthermore, in this year’s Volatility & Flexibility Challenge workshops, many who thought they were doing it now realise the analysis could be much improved! This article introduces useful approaches for putting numbers around the volatility we experience. This ‘defines the gap’, the first step to success, and the analysis matters for many reasons:-

  1. You need it to engage the support and buy-in of colleagues and stakeholders at all levels.
  2. It’s an essential part of designing solutions; different tools give you different kinds of flexibility.
  3. You need to understand the drivers of volatility in order to future proof your changes, in an ever-changing business environment.
  4. It helps you set benchmarks for comparison, to learn from other operations

Read the full article.

First published in the 2014 Best Practice Guide Bridging the gap.

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