Transforming Financial Planning and Inventory Forecasting at BombParty
BombParty is a direct sales company specializing in surprise-reveal jewelry. With a fast-paced, inventory-intensive business model, the company relies heavily on accurate forecasting and planning to support its distributed salesforce and rapidly changing product mix.
Challenge:The Finance team at BombParty faced several planning challenges:
- Budgeting and forecasting were reactive and lacked a driver-based structure, leading to inaccuracies and inefficiencies.
- Inventory management was disconnected from real-time demand data, resulting in frequent overstock or stock-out issues.
- There was limited visibility into workforce-related costs and planning needs.
The organization needed an integrated planning solution that could pull real-time data from NetSuite and support a more proactive, connected approach.
Solution:MindStream implemented NetSuite Planning and Budgeting (NSPB), configuring several key modules:
- P*Q Sales Module – Enabled revenue forecasting based on quantity and pricing, using cost and price data sourced directly from NetSuite.
- Inventory Module – Provided inventory planning capabilities by pulling actual inventory units from NetSuite.
- Workforce Module – Supported employee-level forecasting for more accurate budgeting around compensation and headcount planning.
SmartView was deployed as the reporting interface, allowing users to create custom reports, KPI formulas, and conduct ad hoc analysis in Excel.
Outcome:BombParty's key finance user was highly engaged from the start, quickly adopting the tool and taking full ownership of the application. Within two weeks of go-live, they were independently building reports in SmartView and creating custom KPIs—demonstrating a strong grasp of the system and a proactive approach to planning.
Following the success of the initial implementation, BombParty immediately began planning for Phase II. They requested a new module to forecast not only finished goods but also the Bill of Materials (BOM) for their jewelry products. This enhancement would involve a customized integration with NetSuite and is currently under evaluation.
Results:- Rapid adoption and high user engagement
- Improved forecast accuracy across revenue, inventory, and workforce
- Early expansion planning to include BOM-level forecasting and integration
BombParty now has a strong foundation for proactive planning, better alignment between finance and operations, and a clear path forward for future enhancements.
Partner SpotLight
NetSuite SuiteSuccess
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