Retail Demand Forecasting
Increase stock availability while reducing the total amount of inventory on hand
CHALLENGE
Inaccurate forecasts can be devastating for a retailer
Modern retailer are impacted by exogenous factors, both positively and negatively, to a a greater extent than their predecessors.
Such factors include:
-
Social media
-
Short product life-cycles
-
Promotions
-
Gifting holidays and events
-
Unreliable data
-
Economic and environmental influences
-
Increasing price competition.
All this on top of the challenges of running a business day-to-day. It's no wonder forecasting in retail is a challenge?
SOLUTION
Remi AI Demand Sensing
The Remi AI Retail Forecasting platform ingests data from any and all of the relevant data sources, into the forecasting engine. Internal and external data streams are fed into the engine, which uses an ensemble approach - training your data on multiple algorithms then selecting the approach with the greatest accuracy. And this approach occurs at a SKU level, meaning you have the best demand forecasting approach for every single product, and go far beyond traditional forecasting methods to enable dramatically better predictions of future demand.
This allow you to action more opportunities by leveraging the power of machine learning, all through the Remi AI retail demand forecasting platform.
Remi AI is an AI-enabled enterprise decision platform built exclusively for analysis of demand forecasting, replenishment, and pricing. The platform serves customers in Australasia, the United States, the United Kingdom and throughout Europe. We're also proud to list 3 Fortune 100 companies among our client list.
Utilise the platform chosen by some of the world’s largest companies to make the best decisions possible in their supply chains.
Demand Planning in Action
