Reduction in food wastage
Million savings per month
Improvement in model accuracy
The customer’s legacy statistical-based modeling approach forecasts demand in terms of dollars earned, transactions made, item quantities sold and ingredients consumed at 15-minute intervals. The forecast has to be made several weeks in advance to cater to the business requirements.
The customer wanted a demand forecasting solution with a dashboard to receive updates on a periodic basis to have better control on demand fluctuations in order to have an efficient supply chain, which in turn would reduce costs, food wastage, and optimize available warehouse space.
Quantiphi built a forecasting engine to predict sales at a daily and 15-minute level. The solution encompasses an intuitive UI that not only visualizes inventory management, but also diagnoses and finds preventive measures to help curb wastage, set alerts, and control variables for forecasting. In turn, optimizing warehouse management and assisting in manpower scheduling. This helps to improve the estimates of the suggested quantities of ingredients to be ordered from the distribution centers. The solution was scaled to more than 1,119 stores.