Opportunities + Forecasting Scenario Analysis
From managing exciting, new distribution opportunities, to discontinuing old SKUs, scenario planning captures all possibilities weighted by probability to double down on business planning.
Follow this step-by-step guide to scenario planning through the Opportunities modules in Confido. You’ll get an overview of the features available to you, and an example to illustrate how to use the features.
Let’s go!
What are Opportunities in Confido?
The Opportunities planner in Confido is a tool that allows brands to reflect incremental distribution that isn't confirmed to help teams model scenarios. As your sales team negotiates new distribution opportunities that have a certain likelihood of closing, understanding the impact on both the financial and distribution forecast will help with business and demand planning.
Users can input the retailer, product, Target shelf date, Number of stores, Expected Velocity, Likelihood and Pipefill details related to their opportunity. After the opportunity is created, it can then be viewed in the sales forecast with the weighted and unweighted probability.
Fast growing brands are unlocking new distribution left and right, and keeping track of these opportunities along with their P&L effect can be time-consuming and tough to manage. With Opportunities, Confido allows your team to create as many scenarios for each forecast version and compare your modeled data simultaneously across multiple versions.
Key Features of Opportunities
Opportunities streamlines scenario planning for your team:
- Create a new opportunity for any forecast version in a few clicks
- Compare both weighted and unweighted effect of opportunities on the sales forecast
- Integrated Pipefills to account for initial shelf stocking in stores
- One-click confirmation of scenarios to integrate into the sales forecast
To summarize, you can now accurately plan the impact of new distribution opportunities on top line revenue on both local and shared forecasts. Here's how that looks in action:
Creating an Opportunity
On the Opportunities page, create a new Opportunity and fill in the following fields:
- Planning Group: Which retailer is the new distribution planned for?
- Product(s): Which product(s) are being placed in the new retailer?
- Target Shelf Date
- Likelihood
- Number of Stores
- Expected Velocity
- Forecast Version: Configure whether this opportunity should show up on a local forecast copy, or for a shared team forecast
- Pipefill Details
- Notes
Viewing on Opportunities in the Sales Forecast
To view the impact of the opportunities, navigate to the sales forecast and double-check that you've chosen the forecast-version that you've created the opportunities for.
Configure the Opportunities View to either display the impact of opportunities weight in full or by probability. The values that are highlighted in yellow will denote the that there was an impact from an opportunities, with the ability to drill in and see the exact volume of the impact.
