In the TPM Talks webinar series, senior consultant Shatakshi Shekhar sits down with various consumer products sales and marketing subject matter experts to chat through some of the most pressing topics and challenges surrounding Trade Promotion Management in the industry today. The topic of this talk is TPM in sales forecasts and demand planning. Explore the free webinar download here and read a quick overview below.
Incorporating TPM in Sales Forecasts and Demand Plans
One of the most common questions we get from our clients is “why is it so important to include TPM with our sales forecasting and demand planning?” From our perspective, the ultimate goal for sales forecasting and demand planning is to generate an accurate prediction of the timing and quantity of product sales; non-coincidentally, trade promotion management (TPM) has the same goal. Therefore, in order to get the full picture, it’s important to consider the value of each perspective, where the discrepancies lie, and why.
Both the sales teams and the trade teams provide significant and valuable input into the forecast. However, without a doubt, there will always be discrepancies with that input. Both teams are coming from different points of views and perspectives – what they forecast, when they forecast, and how they forecast all differ. So, how do you account for those inevitable discrepancies? What perspectives should you keep in mind when assessing the inputs and outputs? And what are some other best practices when it comes to incorporating trade teams into demand planning and sales forecasting?
In this webinar, I’m joined by sales and marketing expert Megan O’Toole as we discuss the importance of incorporating TPM in sales forecasts and demand plans and the value of collaboration across teams, processes, and systems.
To learn more about our Trade Promotion Consulting services, connect with us today.
Be sure to check out our other TPM Talks:
- Episode 2: Planning TPM with Indirect Customers
- Episode 3: Involvement of Shopper Marketing in TPM Planning
- Episode 4: Forecasting Sales Using Shipment vs. Consumption Volume
- Episode 5: Approaches to Reporting in TPM Systems
- Episode 6: Customer and Product Hierarchy Changes
- Episode 7: Loading Historical Promotion Data into a New TPM System