Plan and Forecast Management

Success of operational teams is highly dependent on three factors – effective inter-departmental engagement, robustness of plans, and the agility with which the team can act when things do not go to plan.

OpsVeda continuously assesses the realness of forecasted demand and ability of planned supply to service the demand. It does this assessment across the breadth (Department, Product-line, Brand) as well as the depth (SKU-Variants, Sizes, Colors) of your company’s offerings. Potential forecast problems and/ or supply-demand misalignments are detected early, and stakeholders are alerted of the same. On many occasions it also prescribes actions to correct/ mitigate the supply-demand misalignment. For all this, OpsVeda uses a single version of the data ensuring that team-members across departments have a unified view of the situation, issues needing attention, and prescribed actions. The collaboration features enable contextual engagement between team-members for speedy resolution to problems.

Through the continuous supply-demand matching, OpsVeda also enables users to simulate revenue attainment for the period, compare the same to plans and ascertain short-falls early. To bridge any gap, the system also prescribes mitigating actions like expedited inwards and substitutions.

Challenges

Today’s enterprise operations are incredibly complex. Granular offerings and resultant proliferation of SKUs/ BOMs, competition, geographically distant sourcing with uncertain lead times, and increased frequency of disruptions makes building and maintaining plans a tedious and error prone exercise.

Operations by nature is cross-functional and often must accommodate conflicting priorities. Having a common view of the data helps but the challenge is enabling each team to also assess how their actions will impact KRAs of other departments. Complex changing processes add to the difficulty of implementing plans with inter-departmental linkages. More importantly, assessing downstream impact of upstream disruptions is tedious work.

Planning happens in an uncertain environment. Many variables that impact the financial outcome can exhibit wide swings during the plan period. Further, these variables may be correlated in myriad ways. Estimating various plan elements like inventory requirements, purchase & production plans, and revenue for such a wide range of scenarios is one of the major planning challenges in any enterprise.

We are living in a time of unprecedented volatility. In such times, forecast accuracy unsurprisingly takes a hit. Given the number of plan elements that are dependent on the forecast, monitoring its accuracy and keeping it updated continuously is important. The large number of SKUs makes this difficult.

Solution

The OpsVeda Plan Management solution supports all activities from supply to fulfillment. It starts with giving the planner a 360o view of the planning environment. Data from every source within and outside the enterprise is pulled in and presented to provide context to the planning process. The adaptors to various systems, file sources and APIs ensure that all the required data is pulled in effortlessly. The patented PADS & PAMS architecture enable continuous monitoring at every level of the planning hierarchy across product categories and business units. The exception detection and alerting feature ensures that your team can proactively identify and address potential deviations or problems with the plan.

Merchandise Planning

Merchandise Plans need to match the financial, channel and brand plans while getting the SKU, size, and other product attribute ratios right for each store. At the store level constraints around space and demographics need to be factored. With OpsVeda you continuously monitor your plans against such guidelines and constraints, while also alerting users to deviations from plans based on recent performance.
Merchandise Planning

Scenario Planning

COVID has taught every manager how assumptions and trends that worked earlier can become invalid overnight. With OpsVeda, you have the option of testing out your plans under a wide range of assumptions. What happens if the aggressive sales scenario plays out with supply disruptions? Or what happens if there is a spurt of order cancelations? You can feed in the probabilities or allow OpsVeda to use machine learning to estimate the same. In each scenario, what will the financials look like, which customer SLAs will suffer, and which storage locations will be flooded with distressed inventory? Get answers to these and more with OpsVeda solutions for scenario planning.

Clear to Buy

Keep track of traction during events, feedback on samples, and customer commitments with OpsVeda plan management solution. Use OpsVeda to turn these field data to plans and buying requests with workflows for management approval.

Forecast Accuracy

Fix demand plans with OpsVeda’s prescriptions based on continuous monitoring of forecasts against actual performance. The system assesses the forecast based on historical accuracy, M-o-M and Y-o-Y growth projections vs. actual growth in the previous months. It can also factor in social media chatter, and online price fluctuations to assess possibility of deviations from forecasts.
Forecast Accuracy

Benefits

Increased Revenue

Continuous monitoring of forecasts enable plan adjustments to capture the market pulse. This ensures that more sales opportunities are exploited.

Improved Revenue Guidance

Testing out more scenarios upfront ensures robust plans and better monitoring of revenue potential.

Lower Cost of Goods Sold

Early planning and negotiation with suppliers allows for evaluation of sourcing alternatives and attractive prices.

Reduced Inventory

Improved planning ensures that the inventory is better aligned to the market thereby reducing chances of excess stock of underselling SKUs.
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