LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest demand forecasting and planning engagement for a beverage manufacturer. This success story analyzes the factors that enabled the client to gauge real-time demand and inventory stocks and improve the production process.
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Many organizations have aggressive performance goals related to delivery time reliability, demand management, inventory optimization, order fulfilment rate, order cycle time, and inventory turnover but are unable to accurately forecast demand and the factors affecting them. The ability to effectively forecast fluctuations in demand is crucial to the success of an organization. The use of appropriate demand and supply forecasting methods is especially crucial in the food and beverage sector as accurate forecasts lead to faster cash turnover cycles, lower inventory cycles, and quicker response rates.
The Business Challenge
The client- a leading food and beverage manufacturer faced challenges that spanned three core areas including:
- Inability to optimize the production planning process
- Lack of accuracy in demand forecasting
- Inability to gauge market demand in real-time
“Demand forecasting solutions can help you align the long-term strategic goals of your organization with performance measures and market demands,” says a supply chain analytics expert from Quantzig.
Talk to our analytics experts to gain in-depth insights into the benefits of demand forecasting solutions.
The Solution Offered & Value Delivered
The beverage manufacturer collaborated with Quantzig to leverage its expertise in offering demand forecasting solutions to develop a demand forecasting model to help them better plan their production process. Though the demand forecasting model initially focused on top-selling SKUs’, it was later expanded for another set of SKUs’ for which the client faced similar issues related to demand forecasting.
Quantzig’s demand forecasting and planning engagement empowered the client to:
- Improve demand forecasting accuracy across different region-SKU combinations
- Visualize the demand, forecasts, and accuracy metrics
- Reduce the forecast generation process time by 75%
Gain limited-time complimentary access to our analytics platform and learn how our demand forecasting solutions can help you synchronize demand planning with production and adjust to changes in available materials.
Quantzig's demand forecasting and planning engagement offered predictive insights on:
- Identifying the best and worst-case scenarios for each customer
- Devising strategic decisions to boost profitability
Demand forecasting and planning solutions can help you develop strategies to launch new products and position inventory in the supply chain. Learn more about the benefits of demand forecasting and planning.
Recent Success Stories:
- Improving Logistics and Supply Chain Visibility Using Supply Chain Analytics Solutions | A Success Story by Quantzig
- Location Analytics in Retail Helped an Organic Food Retailer to Boost Quarterly Sales by 43% - Quantzig's Success Story
- Customer Lifetime Value Analysis Helped a Leading Finnish Retailer to Increase Revenue by 10% –a Customer Success Story
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal