Demand Planner

Solution Demand Forecasting & Inventory Optimization
Solution Demand Forecasting & Inventory Optimization
Industry CPG
Region US
Technology Python
Context
Demand planning is essential for organizations as it allows them to accurately forecast customer demand and efficiently manage inventory levels. They are under increasing pressure to manage their supply chains more effectively, mitigate risks, and respond swiftly to market changes. Striking a balance between having enough inventory to meet customer needs and avoiding excess stock that can lead to waste, and storage costs is crucial. The growing complexity of global supply chains, driven by factors such as fluctuating consumer preferences, economic uncertainties, and disruptive events, needs advanced solutions for demand planning. Furthermore, demand planning fosters a more sustainable operational environment by minimizing waste, streamlining production processes, and enhancing customer satisfaction.
Problem statement

A multinational retailer faced significant challenges in optimizing global demand forecasting processes. Their current manual forecasting methods were inadequate, which were not capturing the complex dynamics of customer demand for diverse products across different regions. Additionally, they required a more advanced forecasting approach that could effectively integrate both internal and external data sources, considering the unique regional factors influencing demand in each region. Also, they faced challenges in effectively harnessing external data sources and seamlessly integrating them with their internal systems. This hindered their ability to pinpoint growth opportunities and make well-informed global investment decisions. Addressing these challenges was crucial for enhancing forecasting accuracy, optimizing resource allocation, and capitalizing on market opportunities effectively.

Impact

  • 15% Reduction in Inventory holding cost.
  • 35% Reduction in time spent on baseline planning.
  • 20% Reduction in lost sales due to stockouts.

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