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Retail

Improving operational efficiency

Artemis - Demand forecasting engine

Re-optimizing inventory management through better forecasting

Goal

A large retail chain is facing challenge in managing inventory levels at its various stores across the country, either holding too much or too little of certain products. If the retailer stocks up too much, both logistics and storage costs are higher than they need to be. If the retailer stocks up to little, there could be a shortage resulting in miss sales opportunity. The goal of the project is to develop a sales forecasting model to optimize inventory level at the stores

Insight and Action

With thousands of SKUs and stores across the country, we were faced with a challenging large scale problem of forecasting multiple million unique SKU-store combinations. With such scale in mind, developing forecasting model at the individual SKU-store level proved impractical. Through a lot of experimentation, Siametrics was able to develop a scalable solution that significanlty reduces the size of the problem down without compromising the quality of the result 

Impact

1 %
improvement in forecast accuracy

Find out more about Artemis and redefine your inventory woes

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