Forecasting can be an isolated departmental function rather than an enterprise effort. The result can lead to a lack of alignment and significant process challenges, which can ultimately impact business results.
Best Practice Forecasting is an integrated enterprise process where forecasting teams, business functions and regional groups effectively collaborate to consolidate forecasting information for decision makers.
When creating forecasts in local Excel applications, establishing alignment on both forecast model results and the assumptions that drive them, can be very time consuming, error-prone, and unreliable.
Enterprise Forecast Process Improvement allows: