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The way I see it, planning from a rear-view mirror is not the same as gaining insight from the business and market as to where their business is going.  CFOs do provide forward looking guidance, but for the most part they’re dealing in reports around what’s happened. Yes that’s what I said and I mean it. I’ve been working in, implementing, and designing supply chain software tools and business processes for more than ten years and the one thing that I can tell you is this:

Nine times out of ten, the businesses (and senior business executives) who really value their forecasting team are the business who succeed.

Everything you’ve learned in business school around managing an ongoing business, especially understanding where the market is going and a product line’s stage in the product life-cycle have less to do with reports and more to do with forecasting.Here are a few of the observations we took away during our research:

• They Really Look: Great forecasters know how to scan their company’s forecasting software for the products that matter based upon the (right) math, what the business is concerned about, and what the business should be concerned about.

• They Prioritize:  Great forecasters know how to prioritize. They have been taught or have learned what it takes to pay attention to what matters. This is critical when your forecaster is time-limited in what they can manage in a short period of time; especially when they are tempted of “their game” by the “squeaking wheels” in thier organizations.

• They Pre-Sift for What Matters:  Great forecasters understand that mountains of data and reports mean nothing – save their ability to distract.  The good ones understand that in order to be successful, the information has to be “actionable.”  These people are not afraid to wade into their company’s database with their reporting teams and come up with the “dashboard-like” reports that call their attention to the products, regions, and channels that need attention.

I am in the process of building out a free onlinelesson about what to focus on to become the kind of forecaster your CEO can rely upon (and notice in a good way); if you’re interested, let meknow and I’ll include you in the “beta” viewing audience so I can getsome feedback.  If you have any input, I’d welcome it as well.  Send your comment or requests with “Forecaster CEO” to info@turnswing.com or just drop in a comment on the blog.

Filed under: Forecasting, JDA Demand, Supply Chain