Finance Director Case Study: Improving Forecast Accuracy in a £120m Manufacturing Group
Finance Director Case Study: Improving Forecast Accuracy in a £120m Manufacturing Group
Introduction
Harper May recently partnered with a £120m manufacturing group to strengthen its financial forecasting during a critical phase of scaling.
While forecasting processes were technically in place, leadership confidence was declining. Variances were increasing, and assumptions lacked the rigour required for a business of this scale.
This case study explores how our finance executive search process identified a Finance Director capable of restoring discipline and strategic clarity.
The Challenge: Forecasting Complexity in Mid-Market Manufacturing
At this stage of growth, manufacturing businesses often face a common challenge — plenty of data, but limited accountability.
In this instance, the client faced:
- Inconsistent Cycles: Forecasts changed frequently without a clear audit trail
- Ownership Gaps: No clear ownership of underlying operational assumptions
- The Variance Gap: A growing disconnect between projected figures and actual performance
Over time, confidence in the forecast declined, reducing its effectiveness as a tool for planning and decision-making.
The Harper May Approach: Strategic Finance Leadership Assessment
As specialist finance headhunters, our assessment went beyond CV evaluation. To address the forecasting challenge, we focused on identifying a leader capable of bridging the gap between operations and finance.
Our manufacturing finance recruitment methodology included:
- Process Audit: Benchmarking the client’s forecasting approach against industry standards
- Operational Linkage: Assessing how candidates connect operational drivers to financial outputs
- Leadership Capability: Identifying individuals who provide constructive challenge, not just reporting
This approach ensured we targeted candidates with the ability to embed discipline, ownership, and accountability into the forecasting process.
The Result: Impactful Finance Director Appointment
By conducting a targeted search for a Finance Director with strong operational manufacturing experience, Harper May delivered a leader who transformed the finance function within the first six months.
Key Outcomes:
- Structured Discipline: Implementation of a consistent and standardised forecasting framework
- Reduced Variance: Improved alignment between forecast and actual performance
- Restored Confidence: Leadership regained trust in financial reporting
- Stronger Decision-Making: Finance became a proactive contributor to planning and strategy
Expert Insight: Moving Beyond the Numbers
This case highlights a key insight for manufacturing businesses:
Forecasting issues are rarely caused by a lack of data. More often, they stem from a lack of ownership, structure, and challenge within the finance function.
High-growth manufacturing businesses require Finance Directors who treat forecasting as a strategic discipline — not just a reporting process.
In manufacturing environments, forecasting is closely linked to operational inputs such as production volumes, supply chain variables, and cost assumptions. Without clear ownership across these areas, financial outputs become increasingly unreliable.
If your manufacturing business is experiencing forecasting challenges or requires Finance Director recruitment to strengthen financial discipline, Harper May can support.
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