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SAMPS was previously Association of Commercial Professionals for Life Sciences (SAMPS)

Improving Sales Forecasting through Dashboards and Reports

Mike DeMayo

SAMPS 2017 Annual Meeting: Sales

Mike DeMayo, Global Head of Sales and Marketing at Invivoscribe

How does your organization utilize forecasts? Sales forecasts have a major impact upon operations, finance, cash flow, marketing and resource management therefore, consistently accurate forecasts are an essential component to a successful business. The process and practice of driving high levels of forecast accuracy can be complex however, by developing, tweaking and embracing supportive reports the overall forecasting process can be improved to become more precise.

These reports may be product or client focused providing orthogonal data to the company that allows better decision making. Dashboards that dynamically and graphically represent some of these reports are central pieces in the manager – sales professional forecast discussion.

This session will explore best practices in the sales operation function with clear and meaningful real world examples. We will also discuss the interconnectivity between commercial culture and accurate forecasting.

View the complete agenda

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Consistently accurate forecasts enable companies to:

  1. Run efficiently – optimize production/minimize spend/ utilize resources and capacity – higher profits
  2. Indicate command and control of business at a macro and a micro level
  3. Provide mid to long term forecast knowledge which leads to more effective promotions for lagging product stimulation and adaptation of sales models

Reports versus Dashboards:
Reports:

  1. Provide supportive data for the highest level of forecast accuracy
  2. Can/should be used at high resolution levels for product lines/families, etc.
  3. Can/should provide client trend data over flexible time periods allowing for retro and prospective analysis (examples)
  4. Provide opportunity level activity and progression – can be used as confirmation/supporting or adjusting point for forecasting
  5. Should indicate sales and marketing activities that are driving positive forecasting behaviors

Dashboards:

  1. Emanate from reports
  2. Should have high/immediate impact
  3. Should indicate trends to support or refute forecast
  4. Should be consistent from Senior Leadership through commercial management to sales teams

Join us at the SAMPS Annual Meeting

SAMPS, Sales And Marketing Professionals in Scientific research, is the first and only organization dedicated to sales and marketing professionals within the life sciences.

The association’s goal is to serve its members who work in commercial roles for life science products and services companies and associated businesses, globally.
 
SAMPS was previously named ACP-LS. We feel that SAMPS more clearly describes the membership, and will form a better foundation from which to expand this membership globally. 
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