Nowadays companies live a constant need to reinvent themselves, the competition is very hard. Then it is must that the executive must make the best decisions quickly every day.

In a company, the executive makes decisions every day. In almost all the decisions they make, today’s executives consider some kind of forecast to understand what sales will be like in the coming months or years.

The way to make a decision in the business and agree with the forecast and management of the operation. It is having an S&OP.

Sales and Operation Plan (S&OP)

What is an S&OP?

According to Data Science training institute in Bangalore, the integral process of management and business decision-making to balance supply and demand aligns the commercial, operational and financial plans with the commercial strategy in an adequate time horizon defines S&OP.

It is the process that we follow so that a company allocates its resources and executes daily actions that are consistent with the plans and objectives. The one that facilitates the decision making that marks the course of these actions.

Now, with the data science revolution, we can develop better forecasts to understand sales behavior and obtain better inventory management. It is the place to diagnose the situation of the company.

In this process, it must be a plan created to unify strategies and information in the areas of Sales, Supply Chain, Operations and Finance which is the basic premise of the S&OP.

Data Science training institute in Bangalore, with our experience in teaching Data Science analyzed that the coordinator or the S&OP team must have additional communication skills; it must be knowledge in the data analysis:

In communication with the users of the data, the S&OP team can know the needs and preferences of the users of the data, is able to translate the technical aspects of statistics and computing in terms understandable to users.

When data is available to decision makers by the transformation and analysis of data, it must be transformed by data scientists, summarized, made inferences and able to communicate those results to those who need them.

Visualization and presentation is choosing between precision and detail versus a more effective good representation to communicate the results to the users of the data.

The recommendation is that the S&OP coordinator or team should be knowledge of data science or should be a team with data scientists.