The entire globe is affected by the outbreak of Covid-19. Right now businesses are facing challenges such as strong decline in demand and disruptions in the supply chain. When sales forecasts as well as supply chain resilience are challenged it is imperative to make informed decisions based on available information and scenarios.
These scenarios trigger contingency action planning on workforce and cost out, as well as impact and use of available financing options. It is now very important to have established/updated scenarios to make informed decisions as reality moves fast forward.
The forecasting work should for example include:
Depending on the severity of cash flow needs, it is also important to have an understanding of the various financing options and possible crises relief schemes (if available). These are different in the different parts of the world.
In a large organization, which also partly works remotely (ever increasing now), there is no room for underestimating the value of clear action plans, clearly updated and communicated, as well as follow-up on how plans are implemented, and decisions taken based on new forecasts.
If you have any questions or if you need our support in this work, you are welcome to contact us. Our experts and global network are ready to support you.
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