How can sales forecasts
become more accurate,
operationally informative
and less subjective in nature?
A super-regional frozen food manufacture was using very basic sales forecasts for its entire franchise. The outcome of these forecasts had significant impact on operations, sales, marketing and–further downstream–on profitability. Retailer- and product-specific strategies were not linked to these forecasts, which created additional impacts on management strategy evaluation.
Using a 5-year historical data set of both sales and consumption data, our team developed a dynamic forecasting tool for use by leadership to inform future strategies. The tool we built had the ability to deliver highly accurate forecasts, both by retailer and product type.
