Powerful, effective and practical demand forecasting solutions powered by predictive analytics
Accurate projections of future needs are among the most helpful and valuable sources of intelligence for businesses. With effective forecasting delivered through predictive analytics, your company can significantly reduce the costs associated with manufacturing, transporting and selling your products. You can also address and optimize a variety of expenditures that have close ties to product creation, like labor costs.
Of course, recognizing the value of demand forecasting and implementing an effective, accurate and easily managed solution that meets the unique needs of your enterprise are two very different things. Aviana is here to help you implement a predictive analytics solution that allows your operations department to make leaner, more efficient choices that will ripple through your organization.
What does a lack of demand forecasting look like?
Although the concepts of seasonal demand and production can bring ideas of winter holidays to mind, there is an incredibly wide variety of products made and distributed for limited periods of time throughout the year. From packaged foods sensitive to high temperatures, to heating and cooling equipment that sell more briskly during the hottest and coldest months of the year, many different business-to-business and business-to-consumer enterprises make seasonal goods.
Even when your organization continues to make or sell items throughout the year, varying consumer demand can have a major impact on overall sales. The costs of over and underproduction can quickly add up and negatively impact operations. Problems that can easily arise from lack of effective forecasting include spending too much money on producing or purchasing inventory that will only sit in warehouses to the cost of using employees to move, store and manage that merchandise when their efforts could be put to better use elsewhere.
Using demand forecasting and predictive analytics for better results
Aviana has powerful predictive analytics solutions ready for all businesses to quickly implement and put to work. Your operations department will be the heaviest users of the platform, but the benefits will be felt throughout your company. Unnecessary work and purchasing are significantly reduced, and labor and funding are directed to the areas that need them the most in the short term.
The major advantages that our demand forecasting solution provides include:
- Sensing likely scenarios for future product demand and providing relevant insight.
- Improving forecast accuracy to cut down on excess costs and efficiently allocate resources.
- Cutting down on inventory costs by reducing the need for excess storage space.
- Providing crucial insight for likely distribution and sales patterns for new products.
- Identifying supply risks before they become major problems.
- Maintaining service levels, avoiding issues with major dips and spikes in that area.
- Reducing expediting costs by ensuring the right level of product is in the right places in the first place.
- Increasing gross margins through all of these combined improvements.
Key characteristics of the demand forecasting solution include:
- Cloud-based application offering, through either Amazon Web Services or Google Cloud.
- Uses smart AI and machine learning algorithms, like IBM Watson.
- Combines internal and external data sources for the best possible forecast accuracy.
- Sold on a software-as-a-service subscription basis.
- Easily integrates with an existing TM1 environment.
- Combines planning models for sales forecasting, demand planning and allocations.
Aviana has helped businesses of all sorts – from the gaming and hospitality industry to industrial manufacturers and healthcare providers – develop better operations and a wide range of positive results through the power of predictive analytics. Just like our predictive labor demand solution, our demand forecasting platform gives businesses the ability to derive meaningful, powerful and actionable analysis from their many streams of data. To learn more about optimizing your operations, get in touch with us today.