Accurate model development
Efficiency-driven response
Forecasting-enabled versatility
Planning-enhanced scenarios
The challenge
Breaking away from inaccurate forecasting toward market dynamism
A leading global food processing and packaging solutions company sought to enhance its forecasting accuracy across diverse product categories in the e-commerce market over five years. They aimed to improve existing forecasting strategies to address the evolving needs of their supply chain and customer demands.
Key challenges
Achieve high category forecasting accuracy for optimal inventory management
Inaccurate forecasting due to traditional methods
Need for better market responsiveness
Need to integrate diverse quality data
Gain deeper product insights
The solution
Platform-Agnostic governance and automation
AI-powered forecasting solution
High-accuracy forecasts at scale
Market-responsive adaptation
Dynamic forecasting model
Drive operational efficiency
Customized forecasting across multiple categories
Optimized inventory management
Implementation approach
1
Data integration
Unified diverse data sources
Ensured data quality and reliability
Performed extensive data pre-processing
2
Model development
Utilized Amazon EC2, Amazon EMR, Amazon RDS, and Amazon S3
Used our Foresient platform on AWS
Built AI-based predictive models
3
Expanding opportunities
Enhanced market responsiveness
Optimized operational efficiency
Improved decision-making
The impact
Enhancing operational efficiency with with advanced model development
Effective Foresient model development
Improved inventory management
Enhanced operational efficiency
High-accuracy forecasting
Increased operational efficiency
Enhanced market responsiveness
Higher operational efficiency
Improved decision-making
Looking ahead
Enhanced forecasting
Versatile category forecasting for diverse markets
Improved planning
Enhanced scenario planning
Evolving products
Iterative product offerings for market changes
