Forecast accurately for retail demand & sales to serve demands in real-time, across locations for multiple product categories
Advanced customer engagement apps help customers choose products or services and influence their buying decisions in real-time. These affect traditional demand planning and forecasting in companies. Enterprises can no longer plan and fulfill demand over quarters, but will have to ensure their product or services are available in real-time at the location of the consumer choice, and in the quantity they may choose to buy. Predict – Demand Planning is a next-generation platform that leverages enterprise big data, AI and machine learning to help organizations sense, shape, and serve as per demand.
In case of historical analysis, it is important to understand that the analysis should refer to the time period in which the data was generated. Predict – Demand Planning is critical in understanding the context of data and it allows demand sensing and shaping in real-time, across locations and multiple product categories, that could be interrelated in the production supply chain.
Several adaptive algorithms are applied to products which get automatically clustered into various categories like slow moving, newly launched, stable/mature items with erratic demand, etc. reducing demand planners effort to manage different categories
COMPREHENSIVE LOGIC OF KEY FACTORS
The demand forecasts can consider various factors like product lifecycle, seasonality trends, cannibalization, erratic events, promotional events, POS data, weather forecasts, etc. providing more accurate forecast
The forecasting hierarchy enables users to understand the granular details of demand distribution across products, locations and customers. Thus, it provides the insights to understand the effects of key factors in order to guide supply in the best possible way.
Predict – Demand Planning module is designed to complement ReFine (Retail Financial Merchandise Assortment Planning) and Wholesale Order Management to provide you with a complete retail planning suite.
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