FORECASTING, SCENARIO PLANNING AND WORKFORCE SCHEDULING
The current uncertainties that arise from the Covid-19 crisis make it imperative that we begin to form SCENARIOS of what demand may look like and what will help to shape and influence it once we begin to emerge from lockdown. We can then assess the financial implications and plan our staffing resources.
The uncertainties are compounded by:
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Complexity of the situation – there are so many interdependent variables that need to be considered. We need to gather information, interrogate findings, and define effective actions.
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Dynamics – Things are moving quickly and we cannot wait forever before acting. This creates time pressures. We may have to act before we can gather all information.
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Visibility – Not everything can be seen or is known. Decisions may need to be made when there is a lack of clarity.
Which Way Now?
Our data driven approach combined with our forecasting, scenario planning and workforce scheduling tools help to overcome some of these difficulties and address key challenges, offering a number of benefits that support business recovery planning.
Some of the Challenges
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Quickly Creating multiple month by month forecasts and scenarios for income, expenditure and demand.
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Easily visualise and compare forecasts and scenarios.
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Consolidating data from multiple sources finance data, demand data, workforce data
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Easily analyse, understand and prioritise the key drivers by venue, groups of venues, activity, account, product etc
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Identify and understand the trends.
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maximise efficiency of staff resources to ensure they are aligned to levels of forecasted demand.
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Aligning performance management at company, department, team venue and individual level
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Applying forecasts and scenarios to KPI’s
Our Solutions
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Financial and Demand Data Capture at scale (All venues, cost centres, key income and expenditure accounts and activities)
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Data Validation – ensure accuracy and integrity of data
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Data Analysis and Identification of Trends – focussing on the key issues and trends that will impact on business recovery
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Preparation of detailed Baseline Forecasts – taking account of existing trends and seasonality, what would have happened had Covid-19 not occurred, what would our financial position have been, what did demand look like?
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Identifying and Quantifying Scenarios – preparation of multiple scenarios, assessing short, medium and longer term impact and identify which are sustainable and realistic. Keeping scenarios up to date by tracking the related data and assumptions, and using trigger points for key decisions.
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Visualising Options – forecasts, scenarios, demand, workforce planning all shown visually to ensure ease of understanding
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Making Changes and Updating – events are moving quickly so forecasts and scenarios need to be adapted and changed quickly to support effective decision making
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Planning Staff Resources – based on forecasts and scenarios, models of staffing can be developed and costed quickly on a venue by venue basis ensuring maximum efficiency is achieved.
