Seasonal forecasting for fertilizer demand

Seasonal forecasting for fertilizer demand

Vertical

Business Intelligence

Industry

Primary Industries

Client

A global fertilizer manufacturer

Business Challenge
Legacy demand forecasting process for the clients global operation was excel-based and heavily dependent on personal judgement. This resulted in low accuracy of 20-30%. Inventory and place replenishment orders from point of sales suffered as a result.
We followed a ‘Prepare-Explore-Model’ process.
Built a time series model to analyze the past data and forecast 6 months ahead
External factors impact was introduced in the process

Supplier Solution
New system suggests a point forecast and four range forecast for each month in the horizon.
Forecast are generated in a form that integrated with their Inventory Management Systems (IMS)
Overall forecast accuracy improved by 50%
Huge time savings, with optimized inventory planning that freed up working capital.

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