Design and build of planning, budgeting and forecasting for a global industrial player
Matasma engaged with a global industrial player in enabling their production planning, budgeting, and forecasting
Challenges
- Difficulties in having a visibility on the production volume of the oil and gas products to be produced and have a proper planning to store and process
- Significant variation in budget and forecast accuracy as compared to the actualised numbers
- Need for business stakeholders to be collaborative across the planning process with the operations and planning team to come up with a proper plan with mitigation strategies
Our Approach
- Enabled outlook for production planning process to provide a visibility on the estimated production volumes and comparison with the approved budgets
- OPEX forecasting at multiple levels (cost centre, cost object, departments, entity level) to understand the costs incurred across the levels and identified the root cause
- Develop a sandbox for performing scenario analysis on operating expenses to understand the impact it creates on the P&L by changing the OPEX drivers
Delivered Outcomes
- Reduction in 90% of the effort in data transformation, through standardised input upload
- 80% improvement in forecasting accuracy through OPEX variance analysis at multiple levels
- Built of sensitivity analysis to create multiple scenarios
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