Sales Forecasting Ineffective and Consumes Manufacturers Time

Sales Forecasting Ineffective and Consumes Manufacturers Time
By: trcutler
 
Feb. 19, 2015 - PRLog -- Forecast Errors newsletter reported sales forecasting is an activity that consumes an enormous amount of management’s time, yet few organizations are happy with the accuracy of their collective forecasting efforts. So how is it that sales forces can expend so much effort on forecasting and still produce revenue predictions that are lower than expected? Vantage Point recently turned its research engine toward sales forecasting in an effort to identify the sources of forecasting failure as well as the best practices that can make sales forecasting more accurate. Many sales forces are using forecasting models that do not reflect the way their sales forces actually sell. The predominant forecasting approach is to build the sales forecast from a pipeline of opportunities that are being actively pursued by the sales force. Each opportunity is slotted into a stage of the company’s sales process, and a percentage is then applied to the deals in each stage to generate a probability-adjusted revenue prediction.

Forecast Errors, a weekly e-newsletter, sponsored by Ultriva, Inc. shares methods, modes, and tools used to inform Manufacturers’ of Forecast Errors that they face on the manufacturing floor, and with a variety of supply chain industries. The newsletter explores forecast errors as the difference between the actual and predicted value. Forecast Errors argues that what separates best-in-class companies from those that struggle with accuracy is how they root out (and learn from) forecasting errors.

A forecast error is the difference between the actual and predicted value. The consequences are expensive inefficiencies that can be resolved with lean manufacturing technology.

To subscribe to Forecast Errors, go to: http://info.ultriva.com/newsletter

About Ultriva

Ultriva’s (www.ultriva.com) cloud-based platform leverages seamlessly integrates with leading ERP and MRP systems, to deliver an end to end pull based replenishment solution. Ultriva, based in Cupertino, CA, implements a global demand driven manufacturing model by providing full visibility, scheduling, and sequencing of production of customer orders. Ultriva was named one of the Great Supply Chain Projects of 2014 by Supply & Demand Chain Executive magazine and recently named one of 50 Best Supply Chain Blogs of 2014 by SupplyChainOpz. The company’s global footprint is increasing rapidly with implementations in wide variety of industry sectors and enterprises such as Magellan Aerospace, CareFusion, Emerson, Ingersoll Rand, McKesson, Triumph Group, Regal Beloit, Thermo Fisher, and more.  Follow Ultriva on Twitter at @Ultriva.

Ultriva, Inc.
www.ultriva.com
Cynthia Leonard
Marketing Executive
cynthiaL@ultriva.com
408.961.2495

Contact
Cynthia Leonard
***@ultriva.com
End
Source:trcutler
Email:***@ultriva.com Email Verified
Tags:Kanban, Forecast Errors, Supply Chain Visibility, eKanban, Narayan Laksham
Industry:Technology
Location:United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
TR Cutler Inc News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share