Address

Hitech House
Near Gurukul Tower
Gurukul, Ahmedabad - 380052
Gujarat, India

Phone: +91-794-体育OB

Fax: +91-794-000-3202

Email: sales@hitechdigital.com

Engineering

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Intelligent and adaptable demand sensing solution improves forecast accuracy by 60% Banner

Client Profile

A globally acclaimed consumer goods company that provides health, hygiene, and nutrition products across offline and online sales channels. With a highly complex supply chain, the company delivers thousands of products to a network of 40,000+ retailers across different countries.

Business Need .

The consumer goods company had entered into a marketing contract with a global e-commerce giant for sale of its various products across different verticals. The terms of the SLA mandated that the consumer goods company must always maintain adequate inventory and stock levels. However, major supply chain disruptions fueled by Covid-19, adversely impacted the demand and availability of stocks, hitting customer experience and online sales. Penalties for not complying with SLAs added to the company’s problems. Existing algorithms failed miserably to adapt to fluctuating and volatile market conditions due to the high dependence on historic demand.

The client was looking to partner with an AI company which could support its efforts by revisiting its current demand forecasting solution and strengthening it to streamline supply chain operations.

Challenges .

Inability to maintain optimized inventory levels due to:

Solution .

Hitech delivered an intelligent demand sensing solution which navigated the dependence on historic demand and leaned on more parameters such as inventory levels, number of customers, customer feedback, open orders etc. to enable more accurate forecasting to save non-compliance penalties along with ensuring customer delight.

The solution helped to:

Approach .

Assessment

Implementation

Business Impact .

Reduced error rate by 60% – resulting in significant saving in fines and lost sales
100% delivery fulfillment with improved customer satisfaction
Improved forecast accuracy at product / SKU level
Higher working capital with reduced inventories
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