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.