Improve your Sales forecasting accuracy from 50% to 90%.
It isn't easy but it can be done. Demand Management, Supply Forecasters, Sales and Operations planning collectively can achieve this. Sales Team define the sales plans, timings and volumes of the demand from customers. We explain how Sales, Marketing and Management need to combine to drive accuracy improvement.
Once a month they need to communicate anticipated purchased customers will make including volume, timing and the degree of certainty over the agreed planning horizon. Free forecast :: Send us your data and we will send you a forecast
Explain the assumptions on which plans are based. Detail the market intelligence and customer feedback outlining problems and opportunities similarly. Sales Team need to immediately advise of issues which will impact changes in demand as soon as they become known. Not a classic trait of any sales team.
Sales and Operation Planning and Demand Management is also heavily influenced by the sales forecasts provided by Marketing. Marketing need to detail plans for impacting demand. Monthly updates on the efforts of the marketing team to drive and control demand management. Promotions, Price cuts or increase, Retailer or customer incentives need to advised and communicated to Sales.
Marekting needs to update tracking, measuring and reporting competitor activity, external factors which impact sales levels on a monthly basis. In the face of the field report from Sales, Marketing needs to tweak the sales and marketing strategy.
Product and Brand Managers - Need to outline supports available, product launches, new product development, and list product to be discontinued and not be shy about sharing these details. Furnish Sales and Marketing with budgets, define the product strategies, making clear to the Demand Managers, Supply Chain Managers, Forecasters company plans and objectives.
Management need to convey the Assumptions behind product life cycles. Brand Owners, Product Managers needs to detail delays in product launches changes in product plans which impact demand.