Connect with us
Connect with us to discuss how we can assist you using analytics and machine learning to better forecast demand.
Business Challenge
Difficulty in forecasting demand
The challenge you face
- You have difficulty in forecasting demand for products and services.
Implications of not addressing the challenge
- Underproduction that leads to lost sales.
- Overproduction that leads wasted output and potential write downs.
- Negative impact on both revenue and costs.
What does success look like
- Instances of customers asking for products that are not available are decreased.
- Volume of back orders is decreased.
- Overproduction leading to wastage is decreased.
Algonomix solution
- The solution involves performing analytics on historical production, inventory and sales data and using AI (machine learning) methods to predict the correct volume to produce for each product within given timeframes. The accuracy of the predictive model improves over time as it compares predicted values to actual values.