Our client is a leading retail company, providing a wide range of products to consumers. However, they faced some major challenges in forecasting customer demand, which affected their business performance.
- Low Accuracy in Demand Forecasting: Their current forecasting system relied on purchase data and related product information, but did not meet the accuracy requirements. Forecasting demand for new products became difficult, while determining the optimal order quantity was almost impossible.
- Reliance on manual tasks: The system relied heavily on managers' experience and manual tasks, leading to difficulties in generating reliable and timely forecasts.
- Forecasting model analysis and optimization: Implementing In-depth analysis and reworking of customer forecasting models, applying artificial intelligence (AI) to predict demand more accurately.
- Development of AI-based forecasting system: Combining various forecasting algorithms to calculate the number of customers, optimal order quantity, and improve inventory management.
- Revenue growth: Order quantity and output have been optimized, helping sales revenue improve by 7% to 10%.
- Market trend forecasting: Supporting customers in predicting market trends, thereby developing more effective advertising strategies and new products.
- Cost optimization: Accurately forecasting the number of customers and optimizing prices not only reduces inventory costs but also significantly improves profits.
With the support of GITS, customers have transformed strongly, making business decisions based on accurate data and analysis. This partnership not only addresses current challenges but also opens up new opportunities for sustainable growth in the future. Contact GITS to discover how we can help your business overcome challenges and achieve new successes!
