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Overview Planning and Budgeting in Retail Business
In most retail organizations, budgeting and planning is often very time taken and
ineffective process due to disparity of data elements. Data is spread across different
departments and strategic decision making requires alignment between operational and
strategic plan. Each department completes its own bottom-up initiative his makes it difficult
for the business to keep pace with changing consumer needs, trends, and shifts in the
marketplace. Large retail organizations struggle with there is too much data, too many
reports, too many systems, and too much complexity. At the end of the day, it adds up to a
vote of no confidence—in the systems, in the reports, in the data, and ultimately, in the
decisions.
Oracle PBCS Designed for INDUSTRY BEST PRACTICES
Spread sheet based planning may be handy tool for small scale retail business however as
business grows Excel based solution does not fit into complex planning and business
requirements. Too many versions of too many templates mean too many spreadsheets. It
leads to lack of “real” system—no checks and balances, no audit trails, and no workflow
processes. Oracle PBCS purpose-built cloud based applications allow them to accurately plan
and replan quickly, using the same or fewer resources than Excel based Planning and
Budgeting solution. Streamlining the planning process demands technology that can support
a faster, more flexible and adaptive approach. By using on-demand, dedicated planning,
budgeting, and forecasting that is delivered over the Web, organizations can readily
implement best practices.
Define Sales drivers and assumptions in Outline
The first step is to identify key drivers which is to be used for Sales projection, forecasting
and planning. By changing these driver values multiple scenarios can be created. This leads
to the planner to adjust driver values and identify BEST fit model.
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Planning Outline Structure.
Sales Call Formula.
Sales Calls
IF (@ISMBR("Plan") AND @ISMBR(&NextYear))
"Units"->"Total Products"->"YearTotal" / "Avg Order Size" / "Close Rate" * "Travel %";
ELSEIF (@ISMBR("Forecast") AND @ISMBR(&NextYear))
"Units"->" Total Products"->"Rolling" / "Avg Order Size" / "Close Rate" * "Travel %";
ENDIF
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Average order value is a critical metric for all data-driven businesses to keep track of if they want
to scale their profits and revenue growth. Knowing the average dollar spend of each order placed
across your business channels can help you plan pricing and marketing strategies to then increase
that value — which can significantly impact your bottom line.
Sales Calls
IF (@ISMBR("Plan") AND @ISMBR(&NextYear))
“Revenue” "->"YearTotal"/”No_of_Orders”;
ELSEIF (@ISMBR("Forecast") AND @ISMBR(&NextYear))
“Revenue”->"Rolling"/”No_of_Orders”;
ENDIF
