Streamlining demand forecasting.
A leading manufacturing client in the US wanted to streamline its demand forecasting and have a better order fulfillment ratio.
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A large number of unfulfilled orders and high inventory.
The client was facing issues owing to the high number of unfulfilled orders, inaccurate demand forecast model, and high inventory and finished goods holding costs, due to incorrect planning.
Reclassification of products/SKUs and demand planning.
We did a reclassification of products/SKU based on sales revenues and set up a comprehensive demand planning process incorporating seasonality, lead times, and event-based forecast. We set up a review mechanism for A and B class SKUs and a direct forecast setup for C class SKUs.
Quantzig offers demand forecasting solutions that enable the supply chain, sales, product, manufacturing, and finance teams to collaborate to create accurate demand and capacity plans in minutes instead of days. Speak with our analytics experts to learn more.
USD 150 million savings and a 27% reduction in unfulfilled orders.
Based on the new process, the client gained insights on the root causes of fulfillment issues and achieved a 27% reduction in unfulfilled orders and the forecast accuracy increased to 91%. It also gained US$150 million in savings on order fulfillment and inventory costs.