Labor is often the largest cost in an organization, but is difficult to manage when business volumes are volatile or are sensitive to factors which cannot be predicted far in advance, such as weather. PLM enables the organization to optimize required labor levels to meet anticipated levels of demand based on a combination of historical trends and projected business volumes.
Predictive Labor Modelling [PLM] creates a robust platform for analyzing labor trends against transactional volumes over time, in order to forecast required labor levels in future periods.
Use cases include retail store staffing, restaurants, service locations, and call centers.
Operating models can be daily or event-based.
The app measures transactions and labor at the lowest level available (e.g. sales at cash register, labor based on time system capture) and at small time intervals (e.g. every 15 minutes) and then allows comparison of transaction and labor data. The intervals can then be compared statistically against external factors (such as weather or event activity).
Historically, the model can identify variances between required and actual labor amounts to quantify and track improvement opportunities.
The user can project future transaction volume (either directly or using Anaplan projection calculations) and then the app can provide recommended staffing levels. This can be used as input to scheduling systems, and can be updated as projection factors change (e.g., attendance, weather, etc).
BetterVu is a leading implementer of financial and operational Performance Management solutions using Anaplan, with a focus in Services industries including Financial Services, Hospitality, Healthcare and Technology. We bring expertise in best practices for planning, forecasting, costing and profitability in a collaborative approach to deliver value in a rapid time frame.