Business forecasting is never easy, especially in an uncertain economy with frequent legislative changes. Technology can help your business with its data collection and forecasting, ensuring that you can prepare for the future and any opportunities that may arise.
Centralised, real-time data access is essential to effective forecasting for the year ahead. Your strategic level staff need to be able to access information from every department and system in order to make informed decisions. Stock levels, market valuations and anything that’s going to affect the direction of the company needs to be readily available. Make sure your system allows for this.
Making the most of opportunities
Opportunity is what milling businesses rely on to get ahead. You’ll pick up new customers based on how well you reach out to companies looking for more feed. Demand for animal feed, of course, changes with the seasons and comes in cycles. Forecasting can help you predict when and where opportunities will arise and whether they are worth it, or if you can even meet the demand. Mills require a strong connection to markets to be able to identify new avenues and customers. Forecasts rely on your business being fully up to date on current and moving market prices.
Better informed sales teams
Comprehensive and centralised data collection and accessibility are essential for your sales teams. If they have all of the information about what customers bought last year and when then they can identify possible upselling options that will increase your revenues. Automatic, real-time updates to your stock system, based on what you have sold already so far that the sales team is in a better position to talk to customers and make them aware of what is available. This allows for targeted marketing, better forecasting and higher profits for you.
Integration and automation
The better integrated your various systems and departments are, the smoother your business will run and the easier it will be to collect meaningful data for forecasting. Your business will benefit from real-time visibility of financial data, such as credit risks, stocks, costs and balances. A more integrated system will also help with the production of blends and formulas.
Technology is an essential part of making forecasting easier and more useful for mills. Seeing your business’ place in the market and where you think it will be next year is important to your strategic planning. At Primetics we have dedicated milling and feed specialists who appreciate and understand the specific challenges of mill management. Our software solutions support accurate forecasting to help you achieve your goals.
The customer-focused nature of our software means that it is designed with usability and simplicity at the forefront. We want to make transitioning to specialist software easy, with little downtime. It is highly configurable and our team is constantly developing it to improve the way it works and make sure it keeps up with changing customer demands. We listen to our customers and work with them to meet any current and future challenges.
If you’d like to talk about how Primetics solutions could help you with your forecasting and other aspects of running a mill, give us a call on 01257 231 011 or email firstname.lastname@example.org.