Blue Yonder, a leading predictive applications platform vendor in the European market, has now introduced weekly forecasts into its Forward Demand SaaS solution to help retailers improve sales forecasting.
Procurement of goods is a critical leverage point for achieving higher turnovers in the retail sector and should be aligned as closely as possible with the customers‘ actual demand, said Blue Yonder. When dealing with slow-moving goods, there is mostly too little statistical information to evaluate individual products and generate precise daily forecasts. In order to optimize stock and improve processes, weekly forecasts are a key instrument. Forward Demand now enables companies to make decisions based on accurate weekly forecasts and avoid both over and understocking.
”The retail sector is undergoing a change process with markets becoming ever more complex. Profitability continues to result from high availability of goods, whilst also reducing logistic and warehousing costs. With this further development of Forward Demand, we can enable retailers to adapt their forecasts to meet the needs of stock delivered on a daily and weekly basis,” said Lars Trieloff, director product management of Blue Yonder.
Retailers can optimise their sales planning to a particular item as well as location and get a forecast for up to 28 days. Weekly forecasts are an absolutely key component to companies with non-food products, multi-level distribution channels and slow-moving goods, this also highlights the flexibility of Blue Yonder’s enhanced offering, the company claims.
Effortless, improved sales planning
German retailers such as Bauhaus and natsu Foods already use Forward Demand within their sales forecasting. Taking into consideration unforeseeable factors such as weather, special campaigns as well as vacations and public holidays when planning is another one of Forward Demand’s strengths.
The SaaS solution easily integrates into any heritage IT system environment and features a customer-friendly user interface. The model uses all benefits of the cloud, and is particularly suitable for medium-sized companies. This allows for the integration with the ERP system or data warehouse, so existing systems can be used immediately via standard interfaces. In addition, Blue Yonder supports its customer base with a comprehensive service portfolio throughout the entire process.
“Demand on retailers is high, and each company is facing the challenge of having to ensure almost one hundred percent availability of their products. In the long term, only optimal availability of goods will improve customer satisfaction. With Forward Demand, we are now able to better meet our retail customer’s needs,” said Trieloff.