LONDON--(BUSINESS WIRE)--A global data analytics and advisory firm, Quantzig, has announced the completion of its latest production allocation engagement. In this engagement, Quantzig collaborated with a beverage manufacturing company based out of the US to help them improve demand forecasting accuracy.
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A well-known beverage manufacturer based out of the United States faced several predicaments due to the use of inaccurate demand forecasting models. The implications of their inaccurate demand forecasting methods resulted in a sharp dip in the revenue generated from the alcoholic beverages segment. This is when they approached Quantzig to leverage its demand forecasting and production planning expertise to improve its existing sales forecasting process and forecast accuracy. Quantzig identified that the inefficiency in the client’s demand forecasting approach was resulting in inventory pile-ups and frequent stock outs for some SKU’s leading to a huge loss in revenue.
According to the production allocation experts at Quantzig, “Demand forecasting is an analytical approach that leverages the use of certain demand forecasting models and analytical tools to predict the probable demand of a specific product or service.”
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We Offer End-to-End Supply Chain Analytics Solutions
With the help of our innovative analytics solutions and supply chain insights, businesses can gain real-time visibility into supply chain operations and build resilient supply networks to navigate the crisis. Production allocation can also help businesses to:
- Improve prove demand forecasting accuracy across different region-SKU combinations
- Visualize the demand, forecasts, and accuracy metrics for different SKU’ through interactive dashboards
- Reduce the forecast generation process time by 75%
Take full advantage of your data with customized demand and supply forecasting solutions. Request a free proposal today!
Quantzig identified that the inefficiency in the client’s demand forecasting approach was resulting in inventory pile-ups and frequent stock outs for some SKU’s leading to a huge loss in revenue. To help the client address such challenges the experts at Quantzig developed 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. To read more about the scope of our engagement, Request more information.
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