Forecasted Open Orders for a Leading FMCG Company
Industry:
FMCG
Region:
USA
Technology:
Azure
About the Client:
The client is a leading FMCG company with a global portfolio of diverse brands and products that are sold across the globe.
Challenges:
The client wanted to build a Forecasting Weekly Sales Target Model based on open orders. The client was keen on forecasting their sales for multiple customers and driving improvements in inventory management and decision-making processes.
Solutions:
- Analyzed the data to identify the most effective forecasting techniques
- Established baseline accuracy targets for models to surpass
- Used different time series models
- Used multiple metrics to understand the model’s coverage of the data
Results:
- Less than 15% MAPE (Mean Absolute Percentage Error)
- Ability to find the trends and patterns of sales
- Capability to plan for production and capacity