Demand Forecasting
With New Zealand’s unique supply chain challenges being exacerbated by recent global disruption, it has never been more important to have accurate forecasts of product demand_
The challenge:
Forecasting based on historical performance
Although ‘forecasting’ has been around as a business function for many years it has often focused on reviewing historical performance and using very basic analytics to determine likely future sales and material demands.
The inaccuracies of these insular systems, not factoring in external factors is the source of multiple disruptions, lost sales and poor productivity down the line.
The solution:
Proactive data-science approach
Using state-of-the-art data science to map the links between macro and local economic factors, we can transform the value of forecasting, keeping your supply chain functioning and making significant DIFOT improvement to customers. We build a bespoke model to your business that integrates back into your ERP system to automate the forecasting process and remove manual intervention.
The details:
Drawing on a huge range of data sets, looking at macroeconomics and industry trends as well as historical performance, we locate the factors that have the greatest influence on customers buying habits, allowing us to predict likely sales of different parts or items more accurately. In particular the key to these models is their ‘smart’ nature – constantly learning and improving using machine learning algorithms.
Having accurate forecasts reduces inventories, whilst ensuring you have the right materials to deliver product when needed. Globally the reliability of supply is becoming a much more important factor over cost alone, meaning reliable suppliers will have a new competitive advantage for growth.
We work with manufacturers all over New Zealand who place a premium on short lead times and industry-leading DIFOT performance for their clients.
Are supply chain issues reducing your productivity and sales potential?
