16 % of large US grocery retailers still base their distribution center forecasts on historical data on outbound deliveries from these distribution centers. This is akin to driving a car while looking into the rearview mirror.
Accurate forecasting is at the core of increased operational efficiency as it is key to accurately match resources, such as stock and personnel, with demand.
Predicting weather is not easy and rapid changes in weather can cause consumers to suddenly shop or cease to shop for specific products, which can quickly become costly for a retailer.
“What would you consider a good level of forecast accuracy in our business?” is probably the single most frequent question we get from customers, consultants and other business experts alike.
Over the years almost every single retail initiative has had forecasting and replenishment at its core.
People are fickle, not wholly rational and make different decisions at different times. However, people are predictable in most of their buying decisions.
Demand forecasting for promotions is a major challenge for retailers, not least because of the impact it has on driving sales.
Manual forecasting generally produces results whose accuracy is, rather questionable. However it can be of benefit in certain situations.
In this whitepaper we take a look at how to optimize for the holiday season and draw lessons for year-round seasonal management.
Supply chain integration is about knitting together operations of two or more companies via an integrated IT system. Learn how this can be done wisely.
In this article, we take a brief look at what sales and operations planning actually means and explain how data systems affect the execution of S&OP processes.
By implementing RELEX, the Finnish consumer and cosmetics goods importer was able to increase its forecast accuracy by 10 percentage points.
Particularetail trade companies, that often control both stores and warehouses themselves, no longer have any excuse for letting POS data gather dust in the stores’ till systems.