DALLAS--(BUSINESS WIRE)--Logile, Inc., the leading retail labor planning, workforce management, inventory management and store execution provider, today announced the availability of its new complimentary Forecasting Pilot program available to all retailers. Retailers can sign up and use the industry's most powerful, accurate AI and ML-driven metric forecasting through a fully automated self-serve platform.
Attaining the best possible forecasting accuracy is critical to retail decision making and operational efficiency in today’s uncertain and ever-changing environment. Designed to provide an easy, fast and low-risk way to sample the power of Logile’s forecasting platform, pilot participants can opt for 8 weeks of daily forecasts for up to 100 locations and 10 metrics. Results will be published to the participants within 7 days after submitting their parameters and historical data.
In past competitive evaluations, Logile’s forecasting has outperformed all our competition. Using the latest artificial intelligence and machine learning-based algorithms, Logile generates forecasts at each individual metric level averaging above 97+ percent daily accuracy—the best in industry. The potential benefits are compelling: For WFM, every 1 percent improved accuracy can yield up to 50 percent reduction in overtime, half a percent decreased labor costs, 6 percent improved conversion and 12 percent improved customer satisfaction. For Ordering, an accurate forecast leads to stock on shelf at the right time while avoiding either unnecessary over-stocking, or even worse, an out-of-stock situation.
Highlights of our platform:
- Completely integrated with weather and climatology to provide the best opportunity to support seasonality and weather-bound shopping behavior
- Full Forecasting solution drills down to the SKU and UPC level with forecasting support at sub-category, category and volume group level
- Continuous reforecasting and self-learning that keeps improving over time translate into forecast accuracy improvements of 15-20 percent for the average business
- Provides further deep-down understanding at each individual layer and what that layer contributes to the forecast (e.g., weather, promotion, special events, holidays, day of the week, etc.)
“Now more than ever, the ability to accurately forecast demand and labor requirements is critical to retailers’ success navigating economic and market volatility, controlling labor costs and preserving service levels. We welcome you to experience the accuracy with your own data—and with complete privacy, access control and security—the power of the Logile Forecasting Platform as the most accurate and intelligent forecasting platform available today in the industry. We are excited to provide this complimentary Forecasting Pilot program with no obligation,” said Purna Mishra, Logile Founder and CEO. “We are confident retailers will be intrigued and delighted when they compare our automated forecast results with their actuals and legacy forecasts. Our mission is to help retailers thrive with the best available tools, and this pilot should provide a window into what’s possible. Our enterprise forecasting solution introduces many additional features that bring even more precision to the game.”
Steve Netherton, CIO, VP of Continuous Improvement:
“I highly encourage any retailer to take advantage of Logile’s free Forecasting Pilot offering as an easy opportunity to experience the solution’s power. Vallarta relies on Logile Forecasting to deliver incredibly accurate forecasts and real-time reforecasting that drive optimal labor planning, scheduling, task management and customer service delivery. The solution’s AI and self-learning capabilities are top of industry.”
Northgate González Market
Tom Herman, SVP Strategy and Execution:
“The Logile Forecasting Pilot is a great way to get a taste of what their forecasting solution can do—at no cost. Northgate has benefited tremendously from Logile’s multi-dimensional, multi-layered forecasting accuracy, and the ability to lead with one centralized forecast has helped us realize significant operational improvements across our organization.”
Schnuck Markets, Inc.
Tom Henry, Chief Data and Deputy Chief Information Officer:
“I think one of the main differentiators that Logile has versus its competitors is its multipurpose demand forecasting capability. It’s using artificial intelligence and a unique set of features. Whereas, a lot of people will look at transaction logs, Logile is pulling in weather data, price changes—a number of things—to create an actual demand of the customer for each store. And then we source labor to that demand. The multipurpose demand forecast allows you to forecast your labor but also optimize the tasks that they perform. So the customer is getting what they need—the best experience. The tasks within our stores are being completed, and the teammate is as productive as they can be.”
Kim Anderson, VP of Store Operations Support:
“We did the RFP with several providers and workforce management solutions and ended up choosing Logile because of their strong sales forecast. The benefits that we've gotten during implementation, and now what we're getting with the scheduling, have been tremendous. The forecasting is solid, and it goes down to the UPC map, to the item level and the department level. The forecasting that we get and the schedule that it outputs makes a huge impact on the business. We have our people there at the right time for the customer.”
Find out more or sign up for the complimentary Logile Forecasting Pilot program here.
About Logile, Inc.
Logile is the leading retail labor planning, workforce management, inventory management and store execution provider deployed in thousands of retail locations across North America, Europe, Asia, Australia and Oceania. Our proven AI, machine-learning technology and industrial engineering accelerate ROI and enable operational excellence with improved performance and empowered employees. Retailers worldwide rely on Logile solutions to boost profitability and competitive advantage by delivering the best service and products at optimal cost.
From labor standards development and modeling, to unified forecasting, storewide scheduling, and time and attendance, to inventory management, task management, food safety and mobile employee engagement—we transform retail operations with a unified store-level solution. Gain the Advantage with The Logic of Retail. One Platform for store planning, scheduling and execution. Learn more: logile.com
Logile ranked #1 overall in Customer Satisfaction and Performance and received 12 additional #1 ratings on the 2023 RIS News Software LeaderBoard. Connect with Logile on LinkedIn and Twitter.