With an outdated spreadsheet-based solution, one of the UK’s leading bedding manufacturer and retailer sought to improve its sales forecasting process and planning tools. The company’s existing solution was difficult to use and maintain, and failed to deliver accurate results. As a result, they were often making decisions based on inaccurate and outdated information.
Additionally, they had a number of other challenges with their sales forecasting process, notably:
- Difficulties onboarding new sales reps: The company’s sales forecasting process was complex and difficult to understand, creating challenges with recruitment and training.
- Long budget planning process: Their budget planning process was long and inefficient, taking 4-5 months to complete.
- Large number of SKUs: Having such a large number of SKUs created difficulties with tracking sales and forecasting demand.
In 2022, the company embarked on a selection process to find a new sales forecasting tool, and decided to implement Anaplan, a cloud-based connected planning platform. Having evaluated several implementation options, they chose Mentat Technology to partner with for their advisory and implementation work.
Through this new partnership, Mentat Technology were able to support them with designing and implementing and maintaining their new sales planning, and later financial planning, solutions.
Following their successful implementation, several important benefits to their budgeting and forecasting process have now been realised:
- A new sales forecasting tool that is much easier to use and maintain than the old spreadsheet-based solution.
- Substantial improvements in forecast accuracies, allowing them to improve their management of inventory and production.
- A reduction in the their budget process from 4-5 months to 2 months. This significant improvement allows them to make decisions based off more timely numbers.
- Better visibility of their future, by planning out to a longer time horizon. Senior leadership are now able to make longer-term decisions around investment, production prioritisation and inventory.
- More efficient S&OP meetings by giving attendees the power to evaluate multiple simulations in real-time. Anaplan users can flex assumptions and review side-by-side results of various scenarios.
Ultimately, the benefits and improvements that have been experienced following their Anaplan implementation have translated into increased profitability, better internal efficiencies and a clearer visibility into demand trends across their product lines, enabling them to better service their customers.