In today’s competitive environment, companies and their management are under constant pressure to improve results. Whether increasing sales, improving quality, anticipating customer requirements or delivering financial returns, contributions are required from sales everyone to succeed, including independent reps, sales management and other disciplines up to the CEO-suite.
More than ever, timely and accurate sales forecasting is a critical element in contributing to the success of manufacturers, distribution partners and the sales channel. And that’s been a driving factor behind our investment in The REV as it dramatically improves the ability to manage day-to-day business while providing all our partners – especially our manufacturers – critical insights required to improve their business.
One of our foremost benefits is producing insightful sales forecasts for each of our territories. We quickly and accurately can produce short and long-term forecast data by brand, by SKU, by dealer, by assigned direct-managed account and other desired criteria.
For those unfamiliar, The REV is Paradigm’s proprietary customer and sales management system, adopted by and integrated deeply into the core business operation of all our member companies. We share this common platform, the management processes it enables and the group insights it delivers while maintaining confidential to each company specific opportunity management and sales data.
One of the foremost benefits for our manufacturing partners is the ability to produce timely, accurate and insightful sales forecasting for each of our contracted territories. We quickly and accurately can produce forecast data by brand, by SKU, by dealer, by assigned direct-managed account and other criteria. And this isn’t back-of-the-napkin estimating, nor is it simply an accounting of sales recently closed and scheduled to ship in 30 to 60 days.
Rather, utilizing the common and deeply-ingrained sales cycle process tracked in The REV, we’re able to develop informed sales projections for longer terms with a high level of accuracy. The benefit of these longer-term forecasts for our partners include:
- Improved Product Availability. With longer-term outlooks, factories can focus on producing the items required by the customers and the market. That means a higher likelihood that the right products will be available at the right locations when needed by channel partners and end users.
- Better Factory Efficiency. By managing work schedules and labor levels, manufacturers optimize their internal efficiency and costs. And since labor content is a significant portion of production costs, every dollar saved can be utilized in competitive pricing or improved profitability.
- Streamlined Inventory Management. The modern supply chain is just-in-time driven. But getting long-lead-time critical items like custom circuit boards or fabricated systems when needed requires good forecasting. Otherwise, instead of just-in-time delivery, items can sit on storeroom shelves for months, creating management issues and a financial drag on results.
- Focused Innovation Opportunities. When key products aren’t selling, it can be a sign that innovation is required to update or improve the product. A forecast that gives early warning signs of sales declines means factories can get focused faster on improvement opportunities to avoid major losses.
- Healthier Financial Performance. For public companies, reporting anticipated results quarterly demonstrate to shareholders that all is well. Accurate forecasting allows all companies to adjust short-and long-term strategies to deliver the results their owners expect, from implementing sales promotions to adjusting staffing and managing production footprint.
Beyond delivering industry-leading sales results, Paradigm and each of our partners are committed to improving the effectiveness, efficiency, and success of all our partners. Providing timely, accurate and consistent forecasting for partners requires investment and collaborative engagement on which our Paradigm partners stand ready to deliver.