DEMAND PLANNING & FORECASTING
Demand Planning & Forecasting Package starts with the revolution of data until getting best outcome from forecasts through having a rigid performance tracking system. It includes triangle segmentation analysis, blueprint of demand planning process, forecast-ability analysis, offers of MR. FOREC tool, adjustment reason code box, KDIs as a standardized scorecard, and demand planning & forecasting workshops. KnowHow also offers best-fit system requirement process for clients who wans to invest in software to automate their processes.
- Triangle Segmentation Analysis
- Blueprint of existing Demand Planning Process
- Forecast-ability analysis & Implementation
- Mr. Forec Forecasting Model
- Adjustment Reason- Code Box
- Key Demand Indictors (KDIs) Scorecard
- Demand Planning & Forecasting Workshop
- Demand Planning & Forecasting Software & Implementation
It is KnowHow’s unique data analysis strategy that enables to standardize the data management process in order to increase the quality of data used for the forecasting process. Triangle segmentation analysis investigate data from three dimensions of Product, Channel, and Region/Country, and then segments the data based on the characteristics of SKUs, (e.g. Newly Launched, Promo, Volatile, Seasonal, Fast-, Moderate- and Slow-moving). This analysis is a life changing for the planner to make faster decisions and generate more accurate forecasts.
Observing, reviewing and analyzing existing demand planning process through data collection (+frequency), purification, split of promotions and special events, methods used to generate forecasts at SKU, brand, category and/or division level, adjustments made till using that forecast for order and sales target. With comprehensive review process, pros and cons of existing process, areas of improvements, and required KPIs based on industry/business standard benchmarks are reported and presented.
Analyzing the forecast-ability of portfolio at the SKU level based on 3 dimensional criteria (SKU Level characteristics, Life Cycle and Demand Variation), classifying their ability to forecast and developing 3 level customized forecast-ability strategies for each class of Low-, Mid- and High-Forecastability.
With using the results of Forecastability analysis, and analysis of external information required to generate forecasts, providing KnowHow’s Forecasting Tool to the client, which is very easy to use, can be customized upon needs and is excel based forecast methodology tool.
Demand planning is a complex process and several internal and external factors cause demand variation. This necessitates adjustments on the forecast and then reflect to order, sales target for better forecast accuracy. Adjusting forecasts without proper record of rationales upon standardized reason codes causes massive complexity and inaccuracies. To solve this problem, we developed a standardized and customizable reason-code box that planners can record the rationales for their adjustments, which in return will help to improve their forecast accuracy with looking at the rationales for recorded in the past that affected their demand both internally or externally.
KDIs is KnowHow’s standardized Demand Planning & Forecasting scorecard that can be applied any kind of organization to improve the performance of demand planning. Upon the needs of the client, KPIs can be customized and benchmarks can be revised. The KDIs scorecard includes but not limited to Forecast accuracy, tracking signals, bias, MAD, MSE, RMSE, MAPE, and SMAPE.
Running 2 to 5 days workshop for the client to teach demand planning and forecasting methodologies and techniques and share guidelines with planners to improve their demand planning skills
For the clients who already standardized all demand planning & forecasting practices and it’s time to automate operations, developing a best-fit system requirement process to meet the needs of client at optimal level and leading the implementation part of the software.