Demand Forecasting and Production Planning Helped a Leading Beverage Company to Reduce Forecast Generation Time by 75%

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LONDON--(BUSINESS WIRE)--Quantzig, a premier data analytics and advisory firm that delivers actionable analytics solutions to resolve complex business problems, has announced the completion of its recent demand forecasting and production planning engagement. This success story sheds light on how Quantzig helped a client to enhance demand forecasting process in a highly competitive and rapidly changing environment like the food and beverage sector.

Demand forecasting and production planning in the food and beverage industry are undeniably one of the toughest and most crucial tasks. Request a FREE proposal to know how we can help you simplify the processes associated with forecasting demand.

Demand forecasting in the food and beverage industry plays a crucial role in production planning, inventory management and optimization, and capacity optimization. An accurate demand forecasting plan provides the food and beverage industry players with valuable information about the current market requirements, helping brands make informed decisions on pricing, market potential, and business growth strategies.

Demand forecasting is a branch of predictive analytics solutions that helps brands to leverage data to predict customer demand. Contact our analytics experts to gain better insights into our portfolio of predictive analytics solutions, specially curated for the food and beverage industry.

“1.3 billion tonnes of food is wasted annually. By using demand forecasting and predictive analytics to closely monitor inventory levels, it is possible to reduce food wastage without constantly ending up with bare shelves”, says a demand forecasting expert at Quantzig.

The Business Problem: The client is a beverage manufacturer based out of the US. They faced several challenges due to the use of inaccurate demand forecasting models. To tackle these challenges, the beverage manufacturer wanted to optimize their production planning process and enhance the demand forecasting accuracy.

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The Solution Offered: Our demand forecasting and product planning experts identified that the inefficiency in the beverage manufacturer’s demand forecasting approach was resulting in inventory pile-ups and frequent stock-outs. To help the client, our experts developed a demand forecasting model to help them better plan their production process.

Quantzig's demand forecasting and production planning solutions helped the client to:

• Improved prove demand forecasting accuracy
• Reduced the forecast generation process time by 75%

About Quantzig

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