Smart demand forecasting solution for UK-based consumer goods company increases forecast accuracy, stock visibility and optimizes inventory management for SKUs across six countries

Demand Planning

Smart demand forecasting solution for UK-based consumer goods company increases forecast accuracy, stock visibility and optimizes inventory management for SKUs across six countries.

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Service Overview.

Global events, economic shifts, labor force changes, and many other internal and external factors cause major imbalance between sufficient inventory levels and stock surplus. Stock outs adversely impact business revenues and customer experience while stock pileups incur unnecessary space and production costs.

Demand planning mechanisms driven by AI and machine learning algorithms are radically changing how demand forecasts are achieved in real time, allowing leaner inventories without missing out on demand. Hitech’s advanced demand planning solutions deliver an agile, data-driven approach to predicting demand, helping you cut operational costs, boost revenues, and get a competitive edge.

Our expert demand planners pull in data, historical and current, from disparate sources for statistical modelling and collaborative forecasts. Data on weather, local events, market and customer trends is factored in to give you more accurate data-driven predictions on demand sensing for shorter durations. Complex mathematical algorithms recognize patterns and spot complex relationships in large datasets. The models are continuously trained so that they adapt to volatile fast changing conditions to deliver more accurate and reliable forecasts in complex environments.

 

Efficient Inventory Management

Avoid overstocking resulting in increased inventory carrying costs and forced discounted selling; also keep safe from stock outs which hurt sales.

Better Scheduling & Planning

Knowing exactly the time periods when most orders are expected will help you plan production, warehousing, shipping and maintenance schedules.

Optimize Workforce Management

Accurate demand prediction will help you plan your staffing requirements in terms of permanent, temporary or contractual workforce to meet customer deliverables.

Improved Cash Flow Management

Understanding demand peaks and valleys helps manage cash flow better, ensuring on-time vendor bills payment and better negotiation of credit terms.

Beat fluctuating demand with intelligent solutions!

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Manufacturing

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Demand Forecasting.

Get an accurate real time view of ongoing order book, future sales plans and demand forecasts to enable proactive decision-making.

Our service offerings:

  • Generate a statistical demand forecast based on historical data and assumptions. Estimate demand at SKU level by processing huge volumes of data for different combinations like location, quantity, etc.
  • Identify, research and develop most suited data models; for instance, choosing best mesh and parameters for statistical forecasting.
  • Assess market trends, seasonality and patterns based on purchase orders, production plans, workforce, inventory and transport capabilities for in-depth demand awareness and demand planning output.
  • Use historical sales data to predict number of orders, frequency of orders and purchase size. Analyze different demand related trends, risks and reduce the gap between forecasts vs. actual in the supply chain.
  • Generate a real picture of customer behavior by comparing forecast data with actual demand trends.
  • Identify and resolve forecast errors; rectify/ normalize data outliers in forecasting reports.

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The team is doing a great job of creating an effective and accurate forecasting solution. Specially noteworthy is their proactive approach.

– Director of Demand and Supply Planning, Global Consumer Goods Company, UK

Demand Sensing.

Cognitive demand sensing for algorithm-driven processing of large data volumes to project optimum inventory levels, map customer sentiment to demand at granular level and improve pricing and brand loyalty.

Our service offerings:

  • Use algorithms to enable short-term forecasting by incorporating detailed short-term demand data into forecasts.
  • Enable adjustments in short-term forecast automatically by using pattern recognition and predictive analytics.
  • Import daily, weekly and monthly demand and assess changes compared to an established demand pattern. Identify such definitive patterns and regularities in demand and evaluate any statistical significance of the change.

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Working with Hitech has been a real pleasure. In my opinion, we have worked well together. Your team has been quick to make any changes that come up and correct any issues.

– Team Lead, Facilities Services Provider, USA

Satisfied Customers.

80% recurring clients and partnerships with industry leaders reflect our commitment to customers – their growth, their satisfaction.

3,100+ Satisfied Clients
50+ Countries Served
5,000+ Projects Completed
1,000+ Professionals

Service Leadership.

Bachal Bhambhani
Linkedin

Bachal represents Hitech in North America, and helps client and home teams collaborate effectively on projects and partnership initiatives.

Milind Patel
Linkedin

Milind heads the Engineering Consulting division. He focuses on continuous process improvements, team development, and smooth delivery on client KPIs.

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