Collaborative business planning

Did you need additional headcount to support the promotion? The shifted promotional demand impacts your revenue forecast and potentially procurement, inventory and production forecasts.

We have developed countless collaboration strategies and go-to-market plans, facilitated several hundred top-to- top initiatives, conducted numerous classroom and tutorial collaboration training sessions, guided industry initiatives and written numerous articles on the subject.

It brings senior executives together in an environment that encourages productive communications; an opportunity to discuss how both parties can work together for mutual benefit. If the forecasts do not reflect the latest information, then any decisions you base on those forecasts are immediately obsolete.

In contrast, insight-based forecasting relies exclusively on human judgement and gut-feel. By knowing what was done and whether or not it was successful, you can design forecast accuracy and process improvements that incorporate the good and eliminate the bad.

Develop the collaboration scorecard. Willingness to share risks and rewards. The impacts of changes to data and assumptions automatically flow through the system in real time, updating all relevant forecasts.

Others are more limited, for example focusing more on the analytics and the forecasting engine approach. Another reason for documenting rationale is for performance management. For each item being forecasted, collaborative forecasting applications must allow you to select the right mix and application of analytics and insight.

The data itself might be nonexistent e. Strategic Alignment Meeting Preparation Each party should come to the meeting prepared to discuss business dynamics from a broad or global perspective. People with relevant insight about the business and knowledge collaborative business planning planning decisions input this information as soon as it changes.

Forecasting engines cannot find information — such as the effects of a promotion — unless that information is somehow represented in the data and the model knows to look for it. Imagine if all forecasting activities were integrated into a single, living enterprise forecast.

Why Collaborative Business Planning Is Key to Your Success

Perhaps this leads to changes, perhaps not. Our Definition of Strategic Collaboration We define strategic collaboration as any situation where there is explicit agreement between a retailer and consumer products manufacturer to leverage combined resources for the purpose of delivering sustainable mutual benefit, with emphasis on efficient movement of product across the supply chain, profitable category growth and enhancement of the shopping experience.

What We Do Develop the customer collaboration strategy, offering, expectations and go-to-market plan. Without it you run the risk of introducing uncertainty, confusion and mistrust, and this is something you clearly want to avoid.

Both must be willing to rethink their priorities and move beyond traditional collaborative practices to where the shopper is the primary emphasis of all initiatives. Ability to think, plan and commit beyond one or two years.

Balancing Analytics and Insight Every forecasting process falls on a spectrum that is bounded by two extreme approaches — pure analytics on one side and pure insight on the other. The approach is not scalable or easily replicable, which is a problem if your company needs to forecast many items.

That may be true, but the financial and competitive advantages of collaborative forecasting are substantial enough that you cannot afford to wait any longer.

Analytics Magazine

However, analytics-based forecasts are only as smart as their underlying models and algorithms and are highly dependent on the input data. These technologies are based on a few fundamental concepts: However, even with technology and awareness, some companies may feel collaborative business planning are not quite ready to implement a collaborative forecasting process.

Time allocated to reviewing past performance should be kept to a minimum. People are not particularly adept at analyzing data for trends, patterns, etc. You need a customer usage forecast in order to buy enough servers to support a growing cloud-based software application. When you look back at older forecasts, you can see the old data and assumptions, who was responsible, their rationale for making changes and so on.

No one knows which assumptions have been incorporated, whether they are up to date or which data is relevant. The application must provide mechanisms for key stakeholders and knowledgeable people to record their assumptions and link them directly to the forecasts.

By Brian Lewis Forecasting is the foundation of virtually all business planning. Collaborative forecasting allows each stakeholder to add new information, propose changes, test scenarios and share insights in a single, shared system. This means… Willingness and ability to align goals, strategies, systems, people and processes.

Our comprehensive, highly disciplined collaboration model, which continues to evolve as we adapt to changing industry dynamics, has repeatedly produced the desired results for both consumer products manufacturers and retails.

You can test and understand the implications of what-if scenarios and alternative decisions. Stakeholders start looking for alternative forecasts they can confidently base key decisions on; sometimes this means building their own models, spreadsheets or local data systems.

Their rationale and contributions are tracked, time stamped and documented for complete openness and transparency.

The meeting includes a proven pre-meeting approach, guidelines on how to engage in productive communications, and how to structure post meeting communications and project initiatives across companies and down through the respective organizations to ensure delivery of expected outcomes.Modern business technology is enabling a holistic approach to planning for an entire organization: Collaborative Business Planning), considered a “Utopian dream”.

Collaborative business planning

Why? CBP enables Finance departments and Financial Planning and Analysis professionals to lead the planning process, but collaborate closely with all line of business planners. Collaborative forecasting enables companies to transition from periodic, disparate and isolated forecasting activities to a single, real-time enterprise forecasting process.

By Brian Lewis Forecasting is the foundation of virtually all business planning.

Collaborative Business Planning

Our Business Planning Cloud enables the entire collaborative planning process from modeling your business to monitoring and analyzing your business performance to generating and sharing reports and dashboards.

Learn how to move to the next level of strategic selling through collaborative business planning in this online category management course by CMKG. Collaborative business planning with partners is one of the most effective ways to drive revenue. It is the foundation of partner engagement.

It’s really that simple. That which gets written down, gets done! But remember, the best plans are collaborative. Atsmon believes that collaborative enterprise planning is an achievable target, and that while it involves the sharing of enterprise-wide data, it must also include effective communications across business and functional silos.

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Collaborative business planning
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