Two large cost centers in energy and manufacturing are related to labor and the purchasing of raw materials. An accurate demand forecast allows companies to make smarter purchasing and staffing decisions, minimizing waste and overtime hours. It also enables timely production ramp-up to meet increased demand and minimizes product delays.
- Provide a macro-level picture for your entire business as well as drill down to segments based on products or existing company structures.
- Manage seasonal HR & Staffing based on anticipated demand for products and services.
- Adjust production and manufacturing schedules to meet expected demand
Common customizations include:
- multiple forecast horizons
- specialized models for specific products or company segments.
- Inclusion of exogenous variables to incorporate additional relevant internal and external data
Advanced Demand Forecasting requires a minimum of two years of historical demand data, as well as 3+ years of data for analyzing the factors driving demand. Additional datasets may be required based on customization options.