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Powerfully Simple Demand Forecasting

Businesses complexity is growing, driven by multi-channel marketing, the growing influence of demand shaping (media, promotions, NPI), and the impact of the internet on buyer behavior. Yet, surrounded by an explosion of valuable new data, most companies have no way to take advantage of it. They are still using approaches based on cumbersome old algorithms and aggregated sales histories.

These systems cannot easily identify trends and don’t solve the difficult problem of measuring the impact of external stimuli on baseline demand. They are producing disappointing results, significant forecast errors, and manually intensive processes leading to poor planner productivity.

The good news is that a data-driven approach using more intelligent software is readily available. And it has been shown to achieve big improvements not only in forecast accuracy, but more importantly in demand visibility and level of forecast detail, both which translate directly into improved service levels and inventory efficiencies, particularly for “long tail” items. You don’t just get a more accurate forecast, you get a better plan.

ToolsGroup’s innovation is to embed technology into its forecasting solution to solve problems that planners face every day. Rather than a “pick best” approach, ToolsGroup utilizes a better self-adaptive demand forecasting algorithm. Our demand modelling creates a reliable baseline. Machine learning can be employed to adjust the baseline by identifying the effect of stimuli and demand indicators at a detailed channel level. Our approach analyses all the relevant variables and the complex interactions among them in a highly automated fashion.

View Infographic See different stages of forecasting and see where you stand
Read Brief Learn how to manage intermittent demand to improve forecasts
Read White Paper Learn about the four stages to next-generation forecasting


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