A leading home improvement retailer based in Asia needed forecasting and reconciliation models that will accurately predict daily and intra-week sales for better planning. They also wanted to understand the drivers of sales and the contributions of various factors.
Convergytics team collaborated with client’s sales team to understand the operations and current forecasting capabilities
Build a forecast model for daily sales volume, reconcile the daily forecasts to weekly sales and analyze the drivers of sales
Worked with client’s IT team to maintain the model internally
- The model was implemented at store DC level
- Improved inventory planning
- Reduced stock outs
- Better long-term forecast and planning capability
- 4% Reduction in loss of sales due to stock out
- Reduced inventory holding cost by 7%
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sales forecasting,
