Demand Forecast

StoreNext Demand Forecast
A Higher Demand, for a Smart Order
DAX (“StoreNext Demand Forecast”) is a system generating forecasting demands and “Smart Orders” based on inventory and historical sales. Forecasting is done according to sales of each product at each store, and based on an established statistical mechanism. Implementation of the system results in dramatic effectiveness improvement of the supply chain by reduction of inventories, reduction of shortages, decrease of expired products, release of shelf space and significant saving in logistic costs: Less inventory shortages, more precise inventory, less returns, more sales.

 

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How is a Smart Order created?

The supply, sales, inventory and special offers’ data are entered and received daily by the system through dedicated interfaces. The system calculates the projected demand of each product in each store, based on sales history, special offers and minimum inventory level of the product in the store. The forecast takes into account holidays and special events, and neutralizes “background noises”, which may affect the results. The demand forecast is converted into an order recommendation , and the store representative approves or modifies the recommendation at his discretion.. The approved order is then transmitted to the supplier as an EDI message.

 

 

System Advantages

  • Streamlining of supply chain; – reduction of returns, reduction of inventory levels.
  • State-of-the-art forecasting mechanism, specially developed for the retail trade.
  • Multi-dimensional demand forecast (daily, weekly, monthly), enabling optimized short or long term planning.
  • Data optimization mechanisms, validation and supplementing in the event of missing data, enabling locating information on irregularities, automatic correction and performance of optimal forecasting.
  • Providing the ability to consider and calculate all retail process components, including cost calculations, commercial and logistics constraints and trade’s financial parameters.
  • The system enables managing links between products supporting improvement of the demand forecast and optimal planning of inventory levels and orders.
  • Optimization of orders and their frequency according to profit and loss models.
    Automatic and interactive interfaces for update of special events, suggestion of events profiles and special offers according to sales history.




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