Innovative Solutions for the New Marketplace
Are you looking forward or backward? In today’s marketplace customer demand is constantly changing; driven by the growing influence of promotions and new items, multi-channel marketing, and the impact of social media. This is a huge challenge and an opportunity for wholesale and retail businesses.
Unfortunately, for most companies their demand forecasting solutions are out of date. Older forecasting systems were designed to look backward, not forward. These systems may utilize simplified math or even spreadsheets for demand forecasting, which is a huge weaknesses. Legacy, old technology forecasting systems have very poor or no analytics for identifying demand trends. They also track demand shaping events and baseline demand poorly. This causes low forecast accuracy and bad buying decisions that translate into customer service issues, higher product costs and lost sales.
How do you respond to customer-demand changes and deliver the high level of service they expect? Herlitz IM HIMPACT takes an innovative approach to respond to this challenge. We’ve incorporated new methodology and daily analytics into demand forecasting and inventory replenishment. Identifying these daily exceptions and trends enhance your buying decisions, translating into greatly improved product flow and higher customer service..
- Demand Forecasting segregates Regular Demand, Lost Sales, and Promotion Demand and properly identifies Lost Sales.
- Daily Forecasting of all products using new proprietary methods that greatly improve Forecast Accuracy.
- Promotion Demand is filtered by Customer/Store Group, again increasing Forecast Accuracy
- SALSA (Service and Lost Sales Analysis) improves buyer’s insights into customer demand changes using Sales Order Data. The ability to find ‘root’ cause translates into better forecasts and replenishment.
- Seasonality within the Week is updated automatically for each SKU/location, improving buying decisions on short shelf-life products and matching the flow of product to your weekly sales pattern.
- Back-order Tracking at the Customer level eliminates the double and triple counting of lost sales.
- Daily alerts on all key exceptions: Forecasting, Promotions, Lead time, and Service.
- New “intelligent algorithms” respond to changes in base-level demand forecasts. This give planners the ability to “Shift to the new level” adjusting demand and inventory quickly, eliminating many service issues and lost sales.
- Automated Forecast Updates eliminate the buyer’s heavy lifting; automating the management of Demand Spikes, Dips, and Seasonal Profiling.
These new features improve the quality of forecasting and the flow of product to your locations. Our integrated design uses new techniques and analytics to automate and improve demand forecasting and inventory replenishment. This frees your buyers time, allowing them to focus on adding market intelligence to their buying decisions.
HIMPACT’s innovative approach to demand forecasting produces significant improvements: increased demand visibility, lower forecast errors, streamlined processes, and new daily insights. These translate into an improved performance in your supply chain execution and delivery of the high level of service your customers expect.