The Forecasting Process is really important! Help us to help you!
Sharing of information from competitor activity and customer intelligence is a key factor in our success to procuring the right product at the right time.
Forecasting - The act of predicting business activity for a future period of time. Typically, it is a projection based upon specific assumptions, such as targeted prospects or a defined sales strategy. One of the big issues that we face is that sales are being driven solely by commercial KPI’s and deadlines, whether that’s customer pressures or sales targets, there’s a need for speed and responsiveness at precisely the right time in order to close and win the deal. We get it. No other business function really operates in the same way and procurement’s largely methodical and process-driven focus can sometimes be at odds, causing friction for sales teams who work to short deadlines with big peaks and troughs. Equally procurement can find the demands of sales and marketing challenging and sometimes they’re just not in a position to react at the right speed. Procurement’s value to our business hinges on the ability to get the right solution in place at the right price point as quickly as possible. Our business is faced with various challenges. From increasing sales to enhancing productivity, these challenges inadvertently affect our overall performance and bottom line. In order for us to stay competitive, it is important for us to plan ahead and understand what changes, if necessary, need to occur in order to remain profitable.
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