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