How Vanguard Predictive Planning™ achieve superior retail demand forecasting
Today’s consumers are as savvy as they are restless. They have searched the prices. They understand the delivery options. And they expect availability, on demand, and with no excuses. If you are out of stock, they are a clock away from your closest competitor, or from blasting your shortcomings on their favorite social media outlet. Just remember: this world of instant feedback is a blessing, as well as a curse. There is as much opportunity in omnichannel retailing as there is risk. That’s where Vanguard comes in.
To remain competitive, organizations must have an accurate retail demand forecast. But there are various hard to determine variables to maneuver:
- New product adoption
- New store sales verse same store sales
- Demand volatility by trend, fad, season
- Ability to complete time-series forecasts with sales team knowledge
- Disparate, or unintegrated, data
- Sourcing, stocking, and ordering
- Omnichannel sales and fulfillment
Vanguard Predictive Planning™ for retail demand forecasting helps retail companies face these supply chain challenges. With Vanguard, organizations gain a consolidated view of demand and supply across stores, product families, and lines of business. This vantage point takes into account promotions, advertising, new product introduction, seasonality, competitor actions, and all of the other drivers for both short- and long-term forecasts.
With Vanguard, all teams in the organization see and contribute to forecasts and plans on a single, unified platform. They model scenarios, review projections, discuss what-ifs, and align goals with expectations. The returns are dramatic: increased revenues, profitability, and customer satisfaction, all while reducing safety stock levels and other inventory related expenses.
Download our industry sheet to learn more about how Vanguard Predictive Planning™ helps organizations achieve superior retail demand forecasting.