Demand Forcasting
Decrease inventory costs by reducing redundant and obsolete inventory and reduce your inventory carrying costs.
How does it benefit you?
Leverage the power of AI to forecast future customer demand over a defined period using historical data and other information such as seasonality, trends, macroeconomic factors, etc.
Reduce inventory carrying costs
With better predictions of demand, it is easier to plan the stockouts to minimize overstocking.
Supplier Relationship Management
Coordinate with your suppliers ahead of time by improving the estimations of your future demand and how many products to order.
Increase Customer Satisfaction
Ensure the product is always in stock and reduce shipping time so your customers always get products as fast as possible.
Marketing Campaigns
Understanding how marketing will drive the demand makes it possible to understand how your inventory should be adjusted before a marketing campaign gets run.
Inventory Optimization
Avoid over- and under-stock situations with demand forecasting. Make sure that your inventory is in place to meet demand, while also not overstocking.
Resource planning
Use the forecasted demand to plan production according to future demand.
Why use artificial intelligence for demand forecasting?
High inflation and unique challenges such as the COVID-19 pandemic has made the state of the world more volatile. It is therefore crucial to equip your business with a tool that can help you forecast while considering an environment of rapidly changing situations. This comes down to having a sane model that expresses real-world dynamics and also has proper uncertainty estimation in the forecasts. Gain more confidence in your decisions with the ability to plan for best and worst-case scenarios - and everything in between.
- DynamicEnable your forecasts to run more frequently as new data arrives.01
- AccurateBetter models provide better forecasting.02
- AutomationTrigger warnings as soon as new data shows signs of increased/decreased demand that requires updates to the supply chain.03
- EfficientIt is possible to analyze a lot more data than a human possibly could with machines doing the work.04
- Uncertainty EstimationAchieve proper uncertainty quantification of your forecasts.05
Customer Case: Forecast fuel sales
How we help Uno-X with demand forecasting of fuel sales on an SKU level per gas station
Take it to the next level
Move beyond focusing on a single commercial objective.
Our total business approach can combine multiple
use cases into one model.
Our total business approach can combine multiple
use cases into one model.
- Churn
- Customer Acquisition
- Brand Awareness
- Sales
- Customer Experience
- Demand Forcasting
We call this "Holistic Business Measurement and Optimization".
Ready for the next step?