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Sales forecasts reliability, how to improve it?

Discover ten best practices to improve the Sales forecasts reliability within your company.

The 10 best practices* to improve Sales forecasts reliability:

  1. Make the person in charge of forecasts accountable for their reliability.
  2. Follow and analyze KPIs that follow the sales forecasts process performance
  3. Continuously seek for new ways to improve your forecasts reliability
  4. Regularly and quickly communicate the forecasts to anyone that need them
  5. Implement the necessary resources to verify and correct the date used to build the forecasts
  6. Do not hesitate to ask for your customer opinion on the forecasts
  7. Be supported by the Management
  8. Communicate the hypothesis made during the sales forecasts process
  9. Reconcile all the different sales forecasts of one company in one unique sales forecasts
  10. Do Not create rival forecasts

 

These best practices have been shared since 1997 and are today still relevant. With Colibri go further and easily calculate your sales forecasts reliability by using a “reliability” screen available in the app :

fiabilité des prévisions des ventes

 

Thanks to this screen you can:

  • Calculate your sales forecasts reliability and accuracy by comparing month after month the different archives available with the actuals
  • Calculate reliability at any aggregation or hierarchy level for any scope and with different hypothesis
  • Graphically visualize the progression on several month of the forecasts quality
  • Detect, identify and rework the forecasts for scopes with gaps.

We recommend our customer to use this screen during their S&OP meeting in order to highlight the forecasts relevance and discuss gaps. Then, according to the results our customers are able to implement improvement actions.

To learn more, watch the demo here.

*Source: The state of Operational Forecasting : A benchmark Survey, price Waterhouse, 1997.

Watch our video about sales forecasts reliability

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