“When we give ourselves permission to fail…we at the same time, give ourselves permission to excel.” (Eloise Ristad)
In yesterday’s iBsing pioneers call we discussed the 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐫𝐞𝐜𝐨𝐧𝐜𝐢𝐥𝐢𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒&𝐎𝐏 between commercial and operations. Here some highlights from our discussion.
- 𝑫𝒂𝒕𝒂: must be comparable, units of measure need to be clear, average selling need to be accessible, level of error needs to be proactively communicated
- 𝑺𝒚𝒔𝒕𝒆𝒎: Product families must be segmented for reconciliation, statistical forecasts needs to be broken down at country/SKU level and dollarized
- 𝑹𝒆𝒑𝒐𝒓𝒕𝒊𝒏𝒈: solid metrics and analysis capabilities (bias, FC evolution, etc.) to make disconnects visible
- 𝑻𝒓𝒂𝒏𝒔𝒑𝒂𝒓𝒆𝒏𝒄𝒚 𝒂𝒏𝒅 𝒕𝒓𝒖𝒔𝒕: Failure is ok, hiding information is not ok
- 𝑬𝒏𝒈𝒂𝒈𝒆𝒎𝒆𝒏𝒕: If the commercial team does see the benefit of financial reconciliation to grow the business, the Finance team will get engaged with pleasure.
- 𝑪𝑬𝑶 must be a role model for transparency, trust and engagement
𝐓𝐡𝐞 𝐜𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐭𝐫𝐢𝐜𝐤𝐲 𝐨𝐧𝐞𝐬! 𝐀𝐠𝐫𝐞𝐞𝐝?
Thanks to Fabienne Coombs for an exceptionally clear and creative presentation on the topic and all the participants for the excellent discussions in the breakout sessions! S&OP/IBP practitioners who want to join our regular cost-free calls, please let me know!