How it works
3 Easy Steps to Success
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3 Easy Steps to Success
Armin, the Head of Logistics of a shipping enterprise, wants to know how many trucks need to be loaded in the following week. Therefore, he uploads the transaction data gathered on a daily basis for three years in a row. So far, his personal deployment planning has been based only on his experience and estimations of various key accountants. For his forecast request in the forecast tool, he sets both validation and output aggregation level to daily.
Based on his received forecast, Armin knows what is going to happen the following week. He does not fall victim to surprising events and can improve planning activities related to his workforce.
Mark, the CMO of a cosmetics enterprise, wants to find out how he can reduce the current product stock levels as quickly as possible. He uploads in the forecast tool weekly transaction data, and sets both validation and output aggregation on a monthly level. The timeframe of the forecast is set to three months.
As Mark receives the forecast results, he recognizes that it is not possible to sell all the products based on the current market activity of the enterprise. Therefore, he decides to initiate a marketing campaign in order to reach the planned sales figures.
Boris, the Head of Purchasing at an electric component manufacturer, wants to renegotiate the contracts with the company's suppliers. In order to negotiate favorable purchase prices, he wants to agree on the highest possible minimum purchase quantities for the coming year. He uploads weekly transaction data in the forecasting tool. The output of the forecast analysis should be aggregated on a monthly level, whereas validation is based on quarterly data. Outliers can be neglected, since the enterprise keeps the product in stock on a large scale.
The prediction will allow Boris to make a more valid statement about the expected demand in the production department. His assessment is underpinned by quantitative results and he can confidently increase the purchasing volume. His supplier is satisfied by this increase and therefore, has offered Boris a significantly better purchase price.