A large omni-channel retail operation with volatile customer demand
Machine learning demand forecasting by Remi AI
One of the world’s largest consumer electronics manufacturers engaged Remi to help forecast demand for their products sold via a large omni-channel retailer in North America. Demand for the retailer was volatile due to new product launches and the impact of store closures during the COVID impacted 2020/2021 years. Supply was also volatile due to shortages in silicone, leading to downstream impacts on all products using silicone chips.
The team at Remi built an innovative forecasting pipeline for the manufacturer and retailer that was able to consider many relevant covariate data streams such as COVID case data by location, Google mobility data, and gifting events e.g. Prime Day to improve demand signal detection. Supply shortages were managed by modelling across similar products to make recommendations on how to handle stock-outs in key products.