Business Challenge
The client is a health beverage manufacturer who was facing challenges around forecast accuracy and low visibility on impact of competition. The challenges with forecast accuracy were impacting sales planning and the entire supply chain.
Situation
The client was facing challenges around forecast accuracy and low visibility on impact of competition. The challenges with forecast accuracy were impacting sales planning and the entire supply chain.
Approach
We conducted Focus Group and Extrapolation & Rule based forecasting with Simple Exponential Smoothing and Multivariate time series methods. The forecasting model was setup with built-in Price Elasticity Model.
Impact
We developed best-in-class forecasting process incorporating all drivers of sales, with intuitive dashboards for visualization with capability of understanding of seasonality, economic factors, and competitor effects resulting in better planning.
