BUILD A SHARPER DEMAND SIGNAL
Today’s informed customers who can quickly find products offering the best deals in a few clicks have made demand volatility the new normal. As a result, supply chain leaders in retail, consumer goods and other manufacturing industries face continual challenges to predict trends quickly and shift promotional activities to create market opportunities. In this environment, access to an accurate and stable demand forecasting is critical for efficient business planning, from sales and marketing to supply and operations. This is done through effective forecasting and planning.
But it’s easier said than done. Imbalances between demand and supply lead to stock-outs as well as excess and obsolete inventory, negatively affecting both the top and bottom line. Yet, demand forecasting is still recognized as one of the most critical areas in need of improvement.
A SINGLE ENTERPRISE DEMAND SIGNAL
The Integrated Forecasting Solution (IFS) from Prognos, an Antuit company, enables planners and analysts to work hand-in-hand to improve accuracy throughout the planning cycle and across the organization. As an SAS Gold partner, we have years of forecasting experience and numerous successful client engagements to prove it.
We start by producing a reliable baseline forecast using advanced statistical techniques and tools. Demand planners then enrich the forecast by integrating business knowledge, marketing forecasting, supply chain forecasting and expertise through a user-friendly interface, alleviating the need for coding or advanced statistical knowledge.
The IFS statistical techniques address the specific needs of Retail, CPG and other manufacturing industries to accurately model new product introductions, promotions, events, like-products and product succession.
IFS stands out from the competition in three main areas:
1. Flexible Delivery Model
- Results-as-a-service, delivered in partnership with SAS– We build and maintain the model, and you receive the result on a weekly basis, giving you world-class forecasting outcomes without investing in your own data-science team.
- Analytics-as-a-service – We build and implement the system and provide ongoing support by tuning the algorithms and the running system.
- Traditional deployment – We guide you through the implementation and provide customized training that leaves your demand planners and analysts in control. Support is available on an as-needed basis.
2. Closed-Loop Improvement Process – A full suite of diagnostic reporting tracks accuracy, determines factors behind sub-optimal forecast and provides tools for continuous improvement.
3. Dynamic Aggregation – IFS forecasts at the lowest product/location combination within the hierarchy. Every time series is only forecasted at its optimal level, ensuring the most stable and accurate forecast.
THE REWARDS OF IMPROVED FORECAST ACCURACY
IFS delivers a single demand signal built on a solid analytical foundation to every function across the business, leading to:
- Improved customer service levels
- Lower inventory
- Reduced supply chain cost
- Improved procurement decisions
- Reduced waste and improved sustainability