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A major US retailer faced the challenge of accurately forecasting business demand, thereby hampering its ability to enhance productivity, reduce costs, measure performance and deliver a better customer experience by having the right quantity of products at the right place and time. Accenture provided analytics services, created improvisation tools and established processes to help the retailer achieve its desired business outcomes.
The retailer, with more than 150 combination grocery and general merchandise stores, was expanding with new products and store locations while managing a line of highly seasonal products with varying demand patterns. The company needed to address an array of issues before it could improve its ability to measure performance for existing and new product lines. They included:
Limited knowledge about advanced forecasting models
Challenges in hiring, training and retaining staff with advanced skills to perform the statistical analysis for demand planning
Need for forecast excellence to create better in-stocks, lower inventory and gain competitive advantage
The retailer selected Accenture based on our work in this area with other clients, deep analytical and industry expertise, as well as insight into the retail business and track record of innovation.
Leveraging the Accenture Center of Excellence in Barcelona, Spain, and the Accenture Delivery Centers in India, we helped the retailer:
Develop demand and replenishment planning analytics capabilities by deploying the right tools and technology with the help of our outsourced forecast analytics services team.
Develop and implement new solutions to engage and interact with business users that seamlessly integrate with existing applications.
Make key decisions related to:
Conduct periodic review to determine an appropriate order policy.
Develop and implement innovative solutions to better manage forecasting and replenishment.
The retailer has access to the Accenture Global Delivery Network, and leverages our highly skilled and experienced personnel, global assets and scalable solution delivery programs that focus on operational excellence.
The retail company can now measure its performance with advanced statistical modeling, demand classification and segmentation, multilevel forecasting, new product forecasting, and promotional and event data management. The measurable results include:
An improved forecast process and capability across all business areas—offering enhanced ability to manage seasonal sales promotion
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