Optimizing Sales Forecasting and Trade Promotion with Vividly’s Forecast Tool

In this video, Stu, the co-founder of Vividly, offers an in-depth walkthrough of Vividly's Forecast tool. This tool is designed to help CPG brands accurately forecast sales and manage trade promotions.

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Vividly's Forecast tool is a comprehensive, bottoms-up forecasting method that operates at the week and SKU level. It encompasses three main areas: retailers, distributors, and other categories.

Retailer View

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The tool allows for a detailed retailer view, incorporating metrics like velocity, store count, seasonality, and promotional data. These inputs generate output in terms of units and revenue, simplifying the forecasting process while ensuring accuracy.

Data Integration

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Vividly's system can integrate various data sources such as point-of-sale data, e-commerce data, shipment data, and ERP revenue data. This flexibility allows for either data-driven forecasting or manual forecasting in the absence of data.

Promotion Planning

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A key feature of the tool is its ability to link forecast data with trade promotions. This connection ensures that promotions are based on the latest forecast data, adjusting automatically to changes in the forecast.

Distributor Management

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The tool also addresses the complexities of distributor management. It considers the lag between shipping and consumption, adjusting forecast data accordingly.

"All Other" Bucket

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Vividly's system includes an "All Other" bucket for difficult-to-track volumes, such as sales through small retailers or indirect channels. This feature automates what would typically be a time-consuming manual process.

Advanced Features

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- **Budgeting Tool**: Links forecast data with budgeting, allowing comparison between budgeted revenue, latest estimates, and actual figures.
- **Data Export**: Allows exporting of data into a structured format for further analysis.
- **Version Control**: Users can create, save, and compare different versions of forecasts for various scenarios.

Vividly's Forecast tool offers a robust solution for CPG brands to manage sales forecasting and trade promotions effectively. It simplifies complex data integration and provides real-time updates to ensure accuracy in forecasting. The tool's advanced features like budgeting and version control further enhance its utility, making it an invaluable asset for CPG companies looking to optimize their sales and promotion strategies.