Demand Forecasting

Demand Forecasting

Demand forecasting is a critical business requirement and can help to support several key business functions such as logistics, production and marketing. Accurately forecasting spikes in demand for products and services can give a company a competitive advantage as it can adequately apply planning to capacity, inventory, labour and other key areas.

Using predictive analytics you can introduce powerful forecasting technology into your business that can aid in production planning, inventory management, assessing future capacity requirements or market entry decisions.

As lead times shrink it is vital that enterprises control not only supply chain costs but also manage their inventories better and respond to global supply needs at increased speed with greater accuracy. Having the knowledge demand forecasting brings can provide high return on investment (ROI) in a short time.

Model Creation

We can work with you to consolidate your data and develop robust and dynamic statistical models based on temporal and spatial forecasting algorithms to give you the most accurate information possible.

Scenario Analysis

With a Data Forecasting solution you are able to test "What-if" scenarios quickly and accurately to assess how any changes or new strategies may affect your business moving forward.

Trends & Seasonality

It is likely that you are already aware of how certain trends and seasonality can affect your business. However, with a fully featured Demand Forecasting solution you are able to explore these trends fully so that you can exploit them in the fullest ways possible.

Inventory & Capacity Planning

Knowing in advance how demand will fluctuate over the coming weeks, months or years can help you plan your inventory and capacity in a more cost effective way.

Seamless Integration

Our models can be provided as a fully featured and easy to use online or on premise solution that integrates seamlessly with your current data.

Forecast New Products

When replacing or introducing new products it is still possible to forecast demand for them using history of similar existing products or services allowing you to gain an understanding of their likely performance over the coming seasons.

Advanced Science

The models we create make use of advanced data science techniques and scientific algorithms to ensure business variables are accounted for properly to deliver the most complete and accurate forecasts possible.

Sales Projections

By analysing demand, a business can make predictions about sales and allocate resources accordingly. For example, reducing the needless stockpiling of underperforming stock.

Customer Strategy

By forecasting demand for future periods, a company can alter its business and marketing strategy to satisfy expected demand by its customer base. Not having enough stock to fulfil orders not only means you miss out on potential sales but it can also be detrimental to an organisations reputation.

Control Costs

Forecasting can allow your company to control its production costs by taking advantage of favourable pricing or reduce marketing spending based on demand forecasts. Budgeting can be achieved more accurately when taking forecasts into account than on a response only basis.