A Forecasting system provides proven benefits for businesses: optimized cash flow, satisfied customers, minimized inventory costs, informed financial planning, increased ability to negotiate with vendors, and the ability to strategize sales plans. Yet, many businesses do not have a forecasting system. Here are the top excuses that businesses use for not having a forecasting system, and reasons to dispute them:
“We can’t afford a forecasting system.” –SAFIO Solutions clients typically realize a ROI within the first 18 months of use. The visibility into their inventory and its attributes enables them to slice and dice their data. They are able to optimize the opportunities within their business and minimize the liabilities to improve their bottom line.
“We use spreadsheets” – Spreadsheets are prone to formula and data entry errors. The amount of time it takes to collate, maintain and verify the data is really wasted time that could instead be used to analyze the data and strategize the business. Spreadsheets can be unstable and lock up. This causes undue frustration and wasted time and effort. With the large amounts of data needed to make informed decisions, it is impossible to efficiently see all the data points necessary when working with spreadsheets. SAFIO Solutions gathers all of a company’s data in one location, providing an easy-to-use and efficient application for analyzing all the vital data needed for sound decision-making.
“Forecasts are just guessing” – SAFIO Solutions uses history, attributes and drivers to develop forecasts. Applying these features to sales and inventory data results in forecasts that are much more accurate than guessing. Trends are caught early, enabling the user to take-action quickly and capitalize on opportunities.
“We have too many new products” – While it can be challenging to forecast new items, it can be done with success. SAFIO Solutions’s forecasting system allows its users to forecast new items by using data from items with similar selling attributes.
“Our sales are unpredictable” – Even if sales appear to be unpredictable or are highly seasonal, there is usually some pattern to the selling. There may be a different way of looking at the products, perhaps a selling attribute that hasn’t been identified previously. SAFIO Solutions has the capability to drill down into a company’s business and find the hidden patterns.