Fountain Tire improves forecast accuracy by 15% with Vanguard’s Forecasting Software
Fountain Tire, a Canadian tire dealer and automotive service provider, was experiencing growth in sales volume and complexity that began to outpace its internal planning capabilities. Due to growing sales volume, SKU proliferation, expansion, supply disruptions, demand volatility and the need for more diverse stakeholder input, Fountain Tire’s current forecasting methods were failing to meet the required accuracy for responsible purchase order creation and customer satisfaction based service level agreements.
Fountain Tire selected Vanguard Predictive Planning™, a forecasting software capable of quick, detailed and AI-based SKU level forecasting. Vanguard enables Fountain Tire to create item, region, and monthly forecasts quickly and accurately.
Now with Vanguard’s forecasting software, instead of juggling cumbersome spreadsheets and manually adjusting forecasts with rudimentary forecast calculations, inventory analysts at Fountain Tire use Vanguard’s forecasting software to automatically prepare new baseline forecasts. The system imports historical supply chain data directly from Fountain Tire’s database. The AI-based modeling then automatically determines and applies the most accurate forecast method to each product. Not only did the forecast results dramatically improve, but the time analysts spent manually entering and reviewing forecasts and purchase orders was replaced with value add time on forecast and order management. Analysts instead focused their attention on adjusting the improved baseline forecasts based on market intelligence, collaboration and coordinated goals and sales projections.
Vanguard Predictive Planning™ automatically generated better standard forecasts, enabled Fountain Tire to accurately predict and react across exceptional market and supply disruptions and guided users to focus on forecast exceptions and trouble spots; a zero-effort alternative to combing through spreadsheet forecasts.
“When COVID hit, we were able to push portfolio wide forecast adjustments to the most granular level overnight; adjustments that once took several weeks to push down to the item region level we were able to accomplish virtually real time, so that everyone from the leadership team driving the business to the inventory analysts placing orders were all driving on the same road and executing together.”
-Ken Miller, Director of Inventory, Fountain Tire
Complete the form to download our Fountain Tire case study.