Example of an automated statistical forecast

At the core of every business strategy for products and services is to provide optimal management of the supply chain. A leak or inefficiency in the supply chain eats away at the organization’s bottom line. Supply chains are becoming more complex with more variations in products, distribution channels, and material planning. Accurate supply and demand planning are essential for optimal productivity and profitability. 

How does a business obtain an optimal supply chain? It comes down to how well an organization can develop a demand plan. Demand is never linear and rarely easy to predict. A planning team needs to have the right historical data that can be used to create a statistical forecast, achieve consensus from the stakeholders, and be quick to pivot on changing internal or external market trends. In this article, we seek to define and discuss the elements of demand planning, analyze the cost of failure, and outline the steps to success.

What is Demand Planning?

Demand planning is a multi-step process to forecast demand, improve accuracy of forecasts, and align inventory with peaks and troughs of demand. In other words, demand planning is the process of forecasting demand for a product or service. 

Successful demand planning is defined by having the right balance of inventory levels to meet customer needs while minimizing inventory surplus or deficiency. 

Here are the four crucial aspects of demand planning in order of importance: 

  • Product Portfolio Management – Product portfolio management oversees the entire product lifecycle. It starts with the introduction of a new product to the eventual end of its product life cycle. Upkeep and maintenance of product data is key to statistical forecasting.
  • Statistical Forecasting – Build a forecast with past inventory data, sales data, and appropriate product history to predict future data or trends.
  • Trends (Internal and External) – Build into your forecast an estimate of casual influences from internal and external trends. Internal trends include seasonality of your products and hiring talent to scale. External trends include unexpected economic crisis, competition, socio-cultural, legal, and political forces. 
  • Events and Promotions – Once a forecast is generated with the above factors in mind, events and promos can be used to help hit your S&OP targets.

The aspects of demand planning go beyond the statistical components of a demand forecast. Demand planning leverages accurate demand forecasts to create action plans for the organization while being privy to internal and external factors that affect supply at all steps of the chain and consumer demand. 

Implementation of demand planning is using analytics of product data and trade promotions to hit sales and inventory targets. Organizations must be quick to pivot and adapt to changing market conditions even after starting a demand plan. 

Demand planning is an ongoing effort to ensure peak profitability management. 

Importance of Automated Demand Planning

Failure to adopt an automated statistical forecasting and demand planning approach can lead to a wide range of issues such as missed deadlines, unhappy customers, Inventory surplus or deficiency or delayed response to market dynamics. 

Delayed response means your business can lose a competitive edge or fall behind competitors. Inability to act quickly on supply chain disruptions has material impact on both top-line and bottom-line numbers and you can end up losing market share to competitors. Below is a list of some of the business impacts of not utilizing automated planning strategies: 

Lost credibility

Losing credibility means lost business. Inability to fulfill customer orders due to bad inventory planning will lead to permanent damage to trust that customers have with your company. This will impact future orders and leave your brand with a significant damage to reputation. 

Wasted Resources

Overestimating customer demand for products leads to significant waste in time, money, and personnel. If turning over inventory fast enough becomes difficult, your business’s cash flow will be impacted. Having high levels of excess or obsolete inventory can lead to significant financial losses. 

To mitigate high costs of failure, businesses now more than ever need to trust the numbers and adopt a sophisticated demand planning strategy that leverages data and market insights. Adopting automated demand planning strategies will lead to actionable forecasts.

Aspects of Demand Planning

Understanding the work required within each element of demand planning will allow you to create the most accurate, up-to-date forecasts that will better inform your Sales and Operations Planning (S&OP).  

1. Product Portfolio Management 

Many times, past sales performance can be used to forecast future sales performance. It is important to regularly upkeep and cleanse product data. Relevant data might include inventory, stockouts as they occur, seasonality, sales, and consumer demand through peaks and troughs. The difficulty here usually is the number of systems keeping these data sets as isolated transactions. 

 

2. Statistical forecast 

Forecasts need a reference point, historical data in sales, inventory, and demand. Basically, what was actualized in the past can be a good indication of future sales. But not all data is useful, old data is typically not as useful as more current data as it might not correlate with future demand. The same bad situation happens when you do not use enough data to create a forecast. The right amount is typically trailing 24 months of most recent data. 

 

 

Example of an automated statistical forecast

Example of an Automated Statistical Forecast

 

Example of demand planning of weekly sales by item

Example of Demand Planning of Weekly Sales by Item

3. Internal Trends 

Internal trends relate to staffing issues at a level in the supply chain, seasonal demand due to product type, frozen capital, slow turnover, stockouts and general unpredictable sales volatility. Internal trends affect even the best steered businesses which makes it imperative to factor these causal influences into the forecast.  

 

4. External trends

External trends are another form of causal influence, but less predictable and usually harder to build into the demand planning forecast. External trends usually force a business to reforecast whereas internal trends are less likely to lead to a new forecast. Businesses that do reforecast and act on changing external trends like an economic recession or changing political climate are best positioned to succeed.  

 

COVID-19 has disrupted the majority of supply chains around the world in unprecedented scale. Amazon is probably one of the most recognizable organizations that has put tremendous effort in shifting their supply chain to prioritize shipping of essential items.

 

In light of COVID19, Amazon quickly refocused shipping priorities and product fulfillment to consumer essential goods. They have been quick to scale, pulling personnel and distribution resources from nonessential consumer goods and hiring 175k new workers in two months. 

 

Demand planners must be quick to identify factors that can impact demand such as natural disasters, news events, internal and external unanticipated issues. To do so, an organization needs to be armed with a central repository of all their information to generate an accurate forecast and adapt to changing market conditions to meet customer demand. 

 

5. Events and promotions

A time bound product promotion might lead to more sales in that time interval at a lesser margin. Holidays like Black Friday and Christmas can generate more sales in those few days than a whole month. 

Once a forecast is set, there needs to be a consensus on the actionable plan that comes out of the forecast. Part of this actionable plan is using events and promotions to hit sales and inventory targets. You want the right balance of inventory turnover, sales, while reducing COGS, and reducing waste in resources. Promos and external sales initiatives can help you get there. 

The Future of Demand Planning

Demand planning is becoming increasingly digital with advances in technology and machine learning. Demand planning software is being developed to better position businesses to adapt and update forecasts real time. Increasing number of businesses are now using CPM tools integrated with their ERP system to create multi version forecasts that are constantly updated and refined to estimate future sales. 

A successful demand planning action will lead to countless benefits including: 

  • Lower inventory costs
  • Decrease in stockouts
  • Waste reduction (obsolete inventory)
  • Increase in on-time, in full deliveries
  • Decrease in expedited shipping costs
  • Better pricing negotiation with suppliers

Contact Solver to Learn More about Demand Planning Software

Solver offers a flexible planning solution where powerful input forms are designed in Excel and deployed in the cloud. Solver can fit any business needs from a manufacturing company trying to forecast sales by month to a  retail business looking to forecast SKU based on historical data. 

Solver’s cloud  CPM solution is fully customizable to fit your demand planning needs. Contact our team today or request a demo for more information about our corporate performance management tool.

P&l budget estimate comparison variance report

What is Financial Multi-Scenario Planning?

With multi-scenario Planning, companies are able to analyze several potential business outcomes and forecast what overall performance would look like with each of these models. What would happen to sales? Employee headcount? Cash flow? 

 

The key drivers of each scenario are identified and modeled out to create a complete picture of the budget or forecast. This allows companies to better prepare for and predict future performance, and help account for areas of uncertainty.

 

Why is Financial Multi-Scenario Modeling Important?

When companies create an annual budget, it captures the best assumptions for performance in the coming year. These assumptions are largely influenced by historical data and trends, company strategy, and the individual budget contributor’s industry expertise and insight into the current market and economy. The more accurate budget contributors are with their assumptions, the more accurate the budget will be when compared against actual performance. 

 

Keep in mind, that a detailed annual budget only represents one potential outcome of the many variables that could present themselves in the coming year. While the final version of the budget may be considered the “most likely” outcome based on organizational expertise, it is only one possible scenario. 

 

As the economy, market, and internal operations of the business change, that “most likely” scenario may no longer align with current expectations. In fact, there may be one, two, three or more high probability scenarios that should be considered by executives and finance teams.

 

Strategy and Scenarios: Align and Refine

Top-performing companies have budgets and forecasts that align tightly with company strategy. By planning for different financial scenarios, businesses can proactively prepare themselves for these potential outcomes, ensuring alignment to strategic goals and providing the ability to quickly adjust to changes where needed. 

Companies looking to implement multi scenario planning should focus on several key areas:

 

  • Identifying and capturing company strategy
  • Defining the most probable scenarios
    • Internal factors
    • External factors
  • Using driver-based models to define scenarios
  • Measuring performance and refining models

 

Identify and Capture your Company Strategy

A well-defined financial and strategic plan acts as a compass to guide the company’s activities. But, a critical component to having an effective strategy, is ensuring it is not just known and understood by a few at the executive level, but that it is well socialized throughout the organization and it is being used to manage and measure performance. 

 

A solid strategic framework allows the company to set specific strategic goals that can be monitored and measured through key performance indicators (KPIs). These KPIs provide an easy way to define success and measure and share results and goals within the organization.

 

For example, if part of the company strategy is focused on increasing customer satisfaction, then some potential KPIs and goals might be: 

 

  • Decrease average product shipping time from 8 hours to 2 hours by 6/30/2022
  • Increase customer referrals by 15% by 12/31/2021

 

Each of these KPIs defines and effectively measures success by quantifying a goal and setting a timeframe for its achievement. By identifying, recording and tracking these as the first step in our planning process, we can then ensure our budget and forecast aligns with these goals, and if doesn’t, adjust course where needed. 

 

The image below shows a sample KPI report which compares goals versus final budgeted numbers. Where there are discrepancies between the two, management should determine if the budget or strategy should be updated so they are in alignment.

strategic budgetkpis

How to Define Probable Financial Scenarios

While the number of potential business outcomes in any given period is essentially infinite, only a small number of these would likely be considered “high probability”. These highly probable scenarios should be the focus of multi scenario planning. The goal is not to model out every potential scenario, but instead to focus on the meaningful ones that are most likely to occur.  

 

How to Build Financial Scenario Internal Factors

The majority of internal factors for scenario building link directly back to the overarching company strategy. At this point,  the question of “how will these strategic goals be achieved” is transformed into potential scenarios. This is especially important when there is uncertainty or external factors that could impact which direction the company takes to achieve their goals. 

 

In the previous example, part of the sample company’s strategy focuses on increasing customer satisfaction. To achieve this goal there are numerous initiatives that could be undertaken such as: 

 

  • Increasing headcount to improve shipping and customer service turnaround time
  • Consolidating operations to a centralized warehouse
  • Opening regional distribution centers

 

Defining each of these in detail allows executives to closely analyze return on investment (ROI) and determine the most effective course of action. 

 

How to Build External Financial Scenario Planning Factors

Regardless of how well a business prepares, there are external factors that can derail those plans or cause a change of course. These vary by business and industry, but some general ones may include: 

 

  • Economic downturn or recession
  • Market changes
  • Legislative changes 
  • Competitor shift or consolidation

 

The potential scenarios and combinations of scenarios that can be created are unlimited, but the focus should always remain on what is likely to occur and what aligns with the company’s goals. 

 

Using Driver-Based Models to Define Scenarios

Recreating a time consuming annual budget process to build out additional high-probability financial forecast models is not a viable option. The creation of each model should be something that can be done very quickly, and that can be updated easily. The most effective way to do this is with a driver-based forecasting model that leverages a top down approach to generate a baseline from historical data and trends. This initial baseline becomes a starting point that can then be adjusted at a more detailed level for key areas such as revenue forecasting, workforce planning, operating expenses, and cash flow.

 

Using easily adjustable drivers and assumptions allows for the modeling of unlimited outcomes and in-depth analysis of what-if scenarios.

 

Measure Performance and Refine Models

After developing a financial scenario model out of the highest probability scenarios, it’s critical that they aren’t put on the shelf to gather dust, but instead are analyzed on an ongoing basis for accuracy and to ensure the company is reaching its goals. Simple reports can be leveraged to determine which version of the forecast is proving to be most accurate, and this forecast version can then be slotted into existing reports and reporting packages to provide timely updated projections. 

forecast scenario

Analysis will also identify areas of your model that require adjustment. This may point to an error in assumptions, methodology, or a change in market conditions. By isolating and identifying these variances, not only is a more accurate financial model created, but a better forecasting process is continuously developed. 

 

Getting Your Financial Scenario Analysis Started with Solver

Solver’s cloud-based corporate performance management (CPM) solution provides the necessary tools to streamline and automate the multi scenario planning process. For additional information, contact Solver, or request a demo to see the solution in action. 

financial planning

Precise financial planning is an integral part of every business’s success. It also takes a substantial amount of time and energy from the business’s financial department, especially if the business is dealing with a volatile market. To meet the need for accurate and consistent budgeting, forecasting and financial analysis, large companies have formed specific financial planning and analysis (FP&A) branches within their organizations to help them plan for the future.

FP&A professionals help companies tighten their financial processes and make more informed decisions regarding business operations and financial goals. Keep reading to learn more about the FP&A process and its benefits — and how Solver can help streamline this process for companies across industries.

What Is FP&A? Overview: The FP&A Process

FP&A can be thought of as a process involving three basic steps: budgeting, forecasting and analyzing a company’s financial reports.

Within a company’s finance department, FP&A professionals provide financial reports as well as insight into that company’s financial decision-making processes. In general, FP&A professionals work closely with a company’s leadership to provide data-driven support in major financial decisions.

Unlike accountants and financial analysts, FP&A professionals analyze financial data, identify patterns and trends in their companies’ financial processes and recommend strategies to improve their companies’ financial and operational success. The role of an FP&A is multifaceted, but the purpose of this position ultimately lies within helping companies make better financial decisions.

The general FP&A process contains these basic steps:

  • Analyzing the organization’s current financial situation
  • Defining financial goals based on this data
  • Considering variables and identifying different courses of action
  • Creating a financial action plan with potential alternatives in mind
  • Revising and re-evaluating the action plan with an organization’s leadership as needed

Precise FP&A steps can vary depending on the size of an organization, its industry and any enterprise resource planning (ERP) or other software it has in place. However, the general budgeting, forecasting and analysis steps remain the same across FP&A roles.

Advice From Professionals: Improving Your FP&A Process

The FP&A process can get complex as an organization grows and takes on more financial responsibility. Oftentimes, an unpredictable economy can force an organization’s financial department to get creative when it comes to planning and resource management. This is when FP&A professionals are needed more than ever.

To make the most of your FP&A process flow, take a look at the following FP&A expert tips:

Define the Financial Planning and Analysis Process for Your Company

Every company is unique. As a result, every FP&A process is going to vary slightly from the next. In order to get the most out of your FP&A process, you need to determine what FP&A means for your organization.

To most companies, FP&A refers to the sum of all annual budgeting and monthly financial reporting processes. However, FP&A can also include quarterly re-forecasting, weekly sales reporting and other financial operations.

Determine what your FP&A processes need to look like in order to meet your organization’s short-term and long-term financial goals. Remember that your FP&A process needs to handle both financial and non-financial data from every level of your organization.

Designate a Specific FP&A Department Within Your Company

While handling FP&A processes comes with the territory of finance departments in general, FP&A has emerged as a rather specialized job.

It’s best to have a sector of your finance department dedicated specifically to FP&A processes, where you can benefit from the financial insights of experts who not only know your company but are also experienced in evaluating your company’s financial data holistically and with a vision for future growth.

Having a sector of your finance department dedicated to analyzing how your business is spending money and generating revenue will put your business on track to reach its financial goals.

Get the Full Story Behind Your Numbers

The ultimate goal of FP&A is to help you understand the “why” behind the numbers on your financial reports. FP&A professionals not only gather the company’s financial and operational data, but they also analyze it to determine patterns and correlations between the data and their organization’s financial practices. This helps business leaders spot problematic trends and develop a plan of action to improve their organization’s financial practices.

FP&A professionals help organizations learn from past data so they can improve upon their financial habits and processes. FP&A helps stakeholders understand why the numbers are what they are — and how to achieve better outcomes.

Prioritize Learning

FP&A processes will inevitably highlight opportunities for organizational improvement. When such areas are identified, companies should harness these moments and learn from them. Not every financial decision is perfect, but when an organization can acknowledge where it may be lacking and immediately get to work on finding solutions, it sets itself up for long-term success.

To make the most of FP&A processes, company leaders must embrace the financial data as they see it and prioritize learning from the insights of the FP&A professionals on their team.

Stay Future-Focused

Overall, the FP&A process is a future-focused endeavor. With so many variables such as the market, supply chains, changing internal operations and much more, company leaders can easily get lost in the details of present-day data.

However, good FP&A practices turn the company’s focus toward future growth with cutting-edge budgeting and forecasting models that take a holistic approach to the company’s growth trajectory.

Implement FP&A Software to Improve Processes

One of the best things you can do for your company’s FP&A processes is to implement the right corporate performance management (CPM) software for your FP&A budgeting process needs. At Solver, we offer innovative CPM solutions that can be tailored to the budgeting, forecasting and reporting processes of your company.

With Solver CPM software, you can keep all of your financial data in one place and put together comprehensive reports, perform advanced analyses and more.

Contact Solver to Optimize Your FP&A Processes Today

With CPM software from Solver, financial reporting and analysis has never been easier. Contact us to speak with an expert on how you can optimize your FP&A process flow with our globally popular software solutions. Submit an inquiry or request a product demo today!

 

LOS ANGELES, CA. – May 4, 2020 – Solver, Inc., the global leader in Cloud and web-based Corporate Performance Management (CPM) for mid-market ERP systems, today announced the launch of Solver France & Central Europe, increasing its presence in the European marketplace.  Solver France & Central Europe will be growing Solver’s already significant European customer base by expanding the number of resellers in these countries and deepening relationships with some of its strategic ERP partners: Microsoft, Sage and SAP.

“France & Central Europe are key strategic markets for Solver and this opening underlines our commitment to bring Solver’s cloud-based CPM solution to companies located in Germany, France, Switzerland, Austria, Poland, Czech Republic and other east countries. As global businesses deals with exceptional challenges relating to the Covid-19 pandemic, the need for fast, reliable reporting and planning is greater than ever. Solver France & Central Europe will be working with partners and clients to solve their reporting, budgeting and consolidation challenges”, says Marcel Bila, CEO and Partner of Solver France & Central Europe.

“We are excited to expand Solver’s global reach with the addition of Solver France & Central Europe to our international family of companies, and to further our ability to support local customers and partners”, says Nils Rasmussen, CEO of Solver. He continues, “As European companies are moving their business-critical applications to the cloud at an increasingly rapid pace, we see that this is the right time and place to expand our European market presence.”

With more than 300 hundred European companies already using Solver and Solver’s EMEA cloud hosted in Microsoft’s Azure data centre in Ireland, the company expects Solver France & Central Europe to significantly enhance the growth of Solver’s local partnerships by providing the leading mid-market CPM solution to well established markets.

 

About Solver

With a quickly growing community of thousands of global customers and hundreds of partners worldwide, Solver Inc. provides Solver, the leading cloud Corporate Performance Management suite for Microsoft Dynamics 365, Acumatica, SAP Business One, SAP ByDesign, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, NetSuite and other ERPs. Solver is ranked in the leader quadrant in the Corporate Performance Management (CPM) Software Grid on G2, and as a Microsoft Gold ISV Partner, Solver has won countless awards, including the Microsoft BI Partner of Year Award, recognition on the Gartner Group CPM Magic Quadrant, and Best Places to Work for a workplace culture that celebrates customer service, integrity, and innovation. Solver is sold through its 13 global offices and a worldwide network of partners. For any questions, visit www.solverglobal.com or contact Solver at info@solverglobal.com.

Payroll Forecast

Forecasting is always an essential part of any business, and the workforce is typically the largest expense. 

Workforce planning includes salaries, commissions, benefits, taxes, retirement, and much more.  On average, workforce expenses comprises over 30% of gross sales, but it can be over 50% depending on the industry.  Workforce forecasting should always be the top priority for any organization.  Our guide will cover many alignments with strategies, access to data, and best practices on workforce planning and forecasting.

How to Develop a Strategic Plan for Workforce Forecasting

There are many questions to ask prior to starting any type of forecasting, and workforce-related items are often some of the most central questions.  Companies will not be able to forecast reductions, increases, or changes accurately for the workforce without a strategic plan. Data varies, but the estimation is that approximately 90% of all organizations fail to execute their strategies successfully.  

There are many reasons for the failure and it includes lack of communication, not linking strategy to planning, top down approach only, and failed implementation strategy.  Ensure that the organization has a clear strategy and communicate it clearly to the company that there is a well-defined execution path.  

Access to Data for Workforce Planning

The ability to access accurate and timely data for analysis is a necessity.  The data must be accessible in order to build workforce demand forecasting models. There can be a lot of data and below is an example of some of the data by employee by month that would be beneficial in creating a model:

  • Salary
  • Commissions
  • Bonuses
  • Promotions
  • Taxes
  • Benefits
  • New Hires
  • Title
  • Terminations
  • Overtime
  • Headcount by Position
  • Hours Worked
  • Benefit Eligibility

The first question to ask is whether you can access the data.  Determine where the data is coming from and create a process to integrate the data so there is a seamless process monthly or quarterly depending on how often forecasting happens.  

Spot check the data to ensure that the data is accurate as workforce accounts for over 30% of expenses, so a small variance can have a large impact.  For example, if a benefit comprised 1% of gross revenue of $100 Million and the assumption was off by 50%, then the variance would be approximately $500,000 for a single benefit.  This is a substantial variance for just one benefit, which can affect decision-making.   

Generally, workforce demand forecasting models are the most complex templates that organizations have.  The more accurate the data is, then the less complex the models need to be and many of the assumptions go away.  A model allows for enabling quick and accurate decision-making for managers and executives around changes that may need to happen.  They can quickly create multiple what-if scenarios that provide the foundation for the best decision making possible.

How to Forecast Change in the Workforce

There are many ways to go through planning for changes in the workforce.  First, as stated above, set a strategy to provide everyone using the model the clarity to make decisions that meet the strategic plans.  

If management expects production to increase by 50% in manufacturing, then typically there would need to be an increase in workforce or a plan about using more robotics, which may decrease workforce to meet the demand.  However, without this information, the accuracy of the plan will not be accurate.

Decide whether to use a top-down, a bottom-up, or a hybrid of the two approaches.  A top-down approach is when senior management determines the plan and pushes it down to the rest of the company.  A bottom-up approach is when line managers plan and then it rolls up to a consolidated plan.  A hybrid is using both methods and then comparing as different versions. 

Executives can provide a top-down version as a guideline for the managers.  The key to a top-down approach is a model that provides quick what-if scenarios based on adding new hires, modifying benefits, or terminating a percentage of the workforce as an example.

The bottom-up approach typically has two methods and uses the approach that best fits your organization.  One way is to forecast at the employee level.  Managers would go in and enter in new hires, possibly terminations, raises, overtime, and any benefits that a manager would have information on.  This method is very accurate but may have flaws if there is a lot of turnover.  The second method is to plan by headcount by position.  This method would list a job title and how much headcount along with an average salary.  This is not as accurate as it uses an average salary, but works for large organizations that have many people in similar positions. 

Finally, it is important to understand how the organization has been in the past regarding their workforce.  Ask questions such as the following:

  • Is the organization good at hiring or firing?
  • Does it hire too early or too late?
  • Does it usually run a very lean organization or does it get too large?
  • Do certain departments get more budget than other departments?

Understanding this information is vital as it should be included in the plan.

 

The image below offers an example of a partial forecast form where a user can enter a goal, make changes, and see real time changes.

Payroll Forecast

Workforce Forecast – Reporting Process

Reporting is the last step and this comes down to two main parts.  

First, have reports to determine the variances of the workforce forecast against the actual by department.  Next, analyze and document the variances.  Determine if the variances were due to assumptions being incorrect and then modify the model so that it can be more accurate going forward.  If the variances are due to changes in decisions, then document it so that it can be accessible in the future, in case questions come up.

Second, determine the workforce metrics that are important for the organization.  Below are some metrics that may be useful:

  • Revenue/Employee: tracks productivity of the organization over time.
  • Employee Turnover: number of terminations divided by average number of employees.  Note modify to separate out voluntary and involuntary terminations.
  • Benefits Cost/Employee: determine trend by dividing all benefits by employee.  A variation is dividing this by total payroll.
  • Overtime Percentage: overtime divided by total payroll.
  • Time Since Last Promotion: average time in months since last promotion.  This can signify an issue if many top employees are leaving.
  • Time to Hire: the number of days it takes from posting a position to signing the offer letter on average.
  • Engagement: use a survey to ask questions of employees annually and compare over time.

 

This dashboard example is provided by Microsoft shows visual workforce analysis – https://docs.microsoft.com/en-us/power-bi/sample-human-resources

Solver offers an array of workforce demand forecasting models to help set you up for success. You can review some examples in the images below.

Human Resources Dashboard

Contact Solver to Learn More about Workforce Forecasting 

Workforce forecasting is an imperative function for all organizations and it all starts with a good strategic plan. After that is complete and communicated, then provide data access and create models that can enable world-class decisions. Finally, analyze the reports, review the metrics, and make changes based on the analysis.

Our team at Solver can help set you up for workforce planning and forecasting success. Contact our team today or request a demo for more information about our corporate performance management tools.