Why Businesses Fail In Forecasting Their Resources

How to fast-track your resource management

5 min read · Tagged
Birthe, Marketing
Published March 16, 2021

One of the main reasons that organisations struggle to forecast predictions is that their workflows separate the Work Centres and departments.

Data silos and outdated data often constitute a hindrance to maintain the resource overview within the company.

Lack of overview can result in human errors such as overlooked deadlines and miscommunication - or in the worst case, overbooked employees who have to work overtime to keep up.

In peak work situations like these, you risk having your employees experience troubles with concentration and ultimately stress, which can cost the company dearly in the long run.

In this short article, we focus on how you can overcome these problems and get started with effective resource management.

Happy reading!

#1 Discard your spreadsheets!

You are probably familiar with one of the following scenarios:

  • Your spreadsheet shuts down suddenly and unexpectedly – resulting in lost changes due to lack of an “autosave” function.
  • Some of your colleagues have mistakenly overwritten the golden formula that otherwise spared you several hours of manual copy/paste work in your daily life.

DARN! Both scenarios pose major annoyances that can be costly in terms of wasted time and lost work that needs to be redone.

To avoid unnecessary extra costs, you should first and foremost discard your spreadsheets - and think of more intelligent, digital solutions, for forecasting resources.

#2 Resource forecasting across the business

Detailed and accurate resource forecasting is difficult to achieve if the right data is not available and up to date. Therefore, you would benefit greatly from making the organisation’s data active at an operational level. This ensures that everyone in the organisation will be able to access and utilise data at any time - across departments and roles:

  • Sales can quickly respond to a delivery request - even on complex products.
  • HR can be at the forefront of hiring new employees who have matching competencies concerning future tasks.
  • Project managers can easily plan and get an overview of the competencies involved in their projects.
  • Team Leaders can easily spot bottlenecks and the risk of delays. With the resource overview, they will be able to quickly prioritize deadlines and milestones as needed, and assign employees with the correct skills and time to perform the work.

Operational data opens the possibility for the organisation to work more efficiently with resource management – as an uncomplicated and integral part of your everyday life.

Safety First: Read how manufacturers use resource management as an asset in increased employee safety.

#3 Choose the right platform and partner

Successful resource forecasting depends greatly on whether you have chosen the right platform and the right partner for the purpose. These two parameters are crucial to the digitisation of your business and you should consider them both carefully beforehand.

Make demands of the platform’s functions and be critical about the value the platform will be able to attribute to the users and your business.

The following reflections are worth considering when making the final decision:

  • Is the platform user-friendly for everyone to navigate in? If not, you risk the tool never being used.
  • Is the platform secure? Your business-critical data is vulnerable, and therefore you need to guarantee that it is processed securely as per the law.
  • Is the platform a long-lasting solution? Go for a solution that is stable and long-lasting. With a flexible API structure, you can ensure that data can flow freely between the departments’ key tools - without errors and security flaws.

The most important thing, however, is to constantly focus on the value creation of the platform. It is not about putting individual features at the centre, but rather what overall value the platform can provide for the users as well as your business.

We wish you good luck with your organisation’s resource management

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