Manufacturers struggle to accurately forecast sales. To avoid loss of revenue and carrying excess inventory, this expensive issue must be addressed.
A recent survey showed that 74% of manufacturers consider sales forecasting critical to achieving their business objectives. An inaccurate sales forecast makes it difficult to get the right products to your customers in time to make your quarterly or annual revenue goals. Spreadsheet-based manual inputs lead to inaccurate information, which causes a “Trust Crisis” within your organization and affects both top and bottom line performance.
Sales & Operations Planning (S&OP) and Integrated Business Planning (IBP) are central functions for understanding product demand, developing an inventory and production plan, shaping product and pricing strategy, and ultimately developing financial forecasts.
Multiple views of customer forecasts must be in this process if they are to be accurate, including operational forecasts, statistical forecasts, detailed customer EDI forecasts, and forecasts provided as a service by analyst firms. Aggregate forecasts based on sales interactions with customers are a valuable forecast view that is often missed in these efforts.
Acumen Solutions’ Sales Forecasting solution enables organizations to overcome the issues that diminish confidence in sales forecasting data. Better sales forecasting allows manufacturing organizations to increase revenues by 10% - 15% while maintaining:
Our solutions help you gain confidence and trust in your sales forecast to maximize your company's opportunity to generate revenue.
Capture Customer Demand Prior to Executing an Order
For Manufacturing, where the lead-time of components is greater than the lead-time offered to customers, organizations hold inventory to offset the variability in customer demand. Having a timely, accurate view of customer forecast is critical to optimizing those inventory levels.
Tie Product Forecasts to Underlying Parts and Components
Capture customer-facing forecasts at a higher level in the product hierarchy. Our solution maps these products to lower levels based on prior ratios so that customers and sales teams do not need to know the detailed product mix in a forecast. We allow a supplier to develop a reasonable forecast based on prior ratios. By having a more accurate forecast, organizations are able to improve their lead-times, resulting in increased revenues, unit sales, and improved SKU projections.
Allow Sales and Demand Teams to Collaborate in Real-time on Forecasts
Organizations spend millions on systems that try to meet these needs, but most are cumbersome to use and often suffer from poor adoption. Even fewer support collaboration between sales and demand teams. Our sales forecasting solution is built in the sales system that sales people use everyday. The intuitive interface scales to complex sales organizations with geographical territories, and global partners and dealers.
Acumen Solutions’ Sales Forecasting solution incorporates orders and actuals into your forecast, allowing your sales team to see orders placed in the future, as well as in the past. This visibility provides upper management with a clearer picture as to how actual results compare to the sales forecast.
How It Works
With Acumen Solutions’ Sales Forecasting solution, enterprises can better contain demand volatility, enable supply chain visibility, and resolve supply chain complexities. Our Sales Forecasting solution leverages the power of Salesforce’s Sales Cloud, App Cloud, and Communities Cloud platforms to pull data from an opportunity record and create an accurate forecast that has the ability to contain multiple accounts and build lists.
Our Sales Forecasting solution automates the data entry process, reducing the amount of manual data entry, leading to a more precise forecast. For times when manual entry is required, our solution is designed with an easy to use order entry user interface that lowers order entry time by up to 60%.
Sales teams can enter information into the sales forecasts quickly, using both handheld mobile devices and laptops. The solution allows for role-based data entry for sales forecasts, actual orders, and forecast submissions. These sales forecasts are entered into customer accounts and can be viewed via a Sales Data dashboard.