DEMAND FORECASTING AND REVENUE PLANNING

Many companies want to replace demand forecasts, which are generated by multiple disparate forecasting systems, with a central discipline approach, where one version of the demand forecast is determined and can be effectively used across the organization or, where at least all forecasting systems share the same assumptions. Logile has developed a solution using its forecasting engine and proprietary algorithms, to generate a single and accurate demand forecast. The demand forecast can be shared across an organizations’ constituents to reduce costs, maximize revenue and optimize profitability. Further, different forecasting systems can be built on the common forecasting algorithms and assumptions.

In every head to head evaluation, our forecast accuracy has consistently prevailed in competition with other industry solutions.  Using a combination of industry leading and proprietary algorithms our AI selects, refines and fine-tunes the forecasting approach for each forecast element in each store based on statistical reliability.  We support extensive use of data/event tags to influence the selection or non-selection of specific history as appropriate.  Data tagging for weather can be programmatically automated specific to each store’s zip code, and detailed promotional tagging is highly recommended for enhanced UPC level forecasting.

Our best practice approaches to 15-minute interval demand planning enable superior service coverage for your front end and other customer service planning.  Queueing service standards may be customized by day and time of day.  We support the use of detailed forecasting of POS volume data to accurately forecast express, regular and self checkout volumes for dynamic, interval-specific use of labor standards to quantify both item process and tendering by method.  If your current system misses the mark on peak express volumes like busy lunch rushes, you will see the difference in Logile’s approach.

Logile’s unique approach to demand forecasting can be shared across your different departments such as:

  • Price Optimization
  • Sales Forecasting
  • Business and Financial Planning
  • Supply Chain Planning
  • Merchandize Planning
  • Assortment, Size, Packaging and Space Allocation Planning
  • Revenue and Ad Profitability Planning
  • Mark-Down Planning
  • Replenishment Planning
  • Workforce Planning
  • Omni-Channel Forecasting
  • Computer Generated/Assisted Ordering
  • Perpetual Inventory/Inventory Optimization
  • Loyalty Marketing Support

An integral part of our solution offerings, Demand and Revenue Planning is the perfect tool for organizations to reduce costs, maximize revenue and optimize profitability. Its inherent ability to share a single demand forecast across all departments, coupled with our advanced Forecasting Workbench, make it an easy choice for your forecasting needs.

– Purna Mishra
  Founder & CEO, Logile Inc.

SOFTWARE MODULES

Demand Forecasting

Supports generating most accurate forecast for sales, SKU, individual and consolidated UPCs to support forecasting need across the retail chain. Use an entire library of industry leading and proletary algorithms and guidelines for selecting the most appropriate algorithms to create and improve forecasting accuracy.  Or, allow our AI forecasting engine to automate the selection of the best algorithm for each of your forecast elements as assessed through prior forecasting.  The system is capable of using a different algorithm for each element in each store based on what is proven to be the most accurate and reliable method, and the system AI constantly reviews, and changes algorithms as needed over time.

We score all forecasting (system and any allowed user edits) to drive toward an extremely accurate and reliable forecast delivered in a completely automated workflow that requires little or no minimal manual intervention.  We leverage POS t-logs or data extracts to support effective 15-minute interval demand planning to put the right people in the right place doing the right things to deliver your service and queuing standards with minimal waste.  Even departments with less direct customer interaction can benefit from the clear understanding of customer and item volumes experienced by time of day as forecasted from department interval POS data.

Forecasting is not limited to the calculations designed to support effective labor scheduling.  With detailed Loyalty Marketing data, separate operational forecasts can reveal times most critical for customers in your Loyalty Marketing programs.  This can support more effective timing of special service offerings, demos, and in-store initiatives to augment traditional loyalty-based price promotions.

Real-Time Re-Forecasting™

Real-time insight into current trends that lets your managers make adjustments to keep plans and actual results in alignment. Re-forecast recommendations are stored for future refinements in scheduling decisions and algorithms updates.

Logile can also incorporate feeds from beacon or other in-store sensors to refine upcoming cashier or service counter demand based on in-store traffic.  These updates can be sent as real-time alerts to managers or can update interval demand that can be viewed by Customer Service Managers on demand.  The same information can also be used to trigger in-store merchandising offers if desired.  More precise offers can be made when the configuration is accomplished in conjunction with your Loyalty Marketing program.

Promotion Profitability Planner™

Insight into all aspects of profitability as you develop promotion campaigns allowing you to optimize your plan and results. Leverages the Enterprise Labor Model™ and Sales and Labor Planning™ solution to help develop and optimize promotion planning.

Operational Reporting

Data from the many sources supporting Demand Forecasting can also be effectively leveraged for Operational Reporting through pre-configured reports like our multi-week Track Record, performance ranking reports, or detailed and highly configurable dashboard containers.  Flash and actual General Ledger reporting is supported.  Annual budgets, period plans or other goal information can be used for comparison analysis.

Our reporting can incorporate data from sources outside of Labor Management to create a complete reporting capability to support Store Operations.  This may include data associated with Shrink, Supply Costs, Vendor Cost vs. Gross Profit Spreads, Item and Customer statistical data, Employee Workforce statistics, Employee Accrual Balances, Loyalty Marketing Data – virtually any data source available for integration and reporting.

Metrics with multiple definitions may also be supported when properly defined.  Examples include Gross POS Sales and Net POS Sales; Labor Item Count and Merchandising Item Count.   This may retire multiple redundant reporting systems and provide the organization with a single point of reference that meets all Operational and Merchandising reporting needs.

UPC Analyzer™

An extension of Enterprise Labor Manager™, our UPC Analyzer™ provides insights into the true performance of your items based on gross profits generated and the fully loaded costs including labor, shrink and supplies.  Optimize labor and gross profit with assortment refinements or assess program refinements with all the facts to drive smart decisions.

Performance Management and Reporting

Provides effective real-time reporting of key performance indicators. Report templates allow your managers to access frequently used reports, while you can create your own templates and reports independently without IT help.

Our best practice reports were built with extensive retail experience, formatted for quick understanding, to help store personnel get the information they need.  This allows your people to spend more time making a difference on the sales floor and improving your KPIs, rather than digesting reams of data to understand what is going on.

SERVICES

Professional Services

Logile assigns an experienced account manager to work with your team and determine the services that best complement your existing resources and capabilities – including analyzing requirements, identifying gaps, defining project and resource plans, streamlining processes, integrating data and managing risk, change and communication.

ENGAGE US

Interested in engaging Logile for your business? Let us know now and our sales team will get in touch with you soon!

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