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OMNI-CHANNEL Sales Forecasting with New Product Introductions
Technology Category
- Analytics & Modeling - Predictive Analytics
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Functional Applications - Inventory Management Systems
Applicable Industries
- Consumer Goods
- Retail
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Demand Planning & Forecasting
- Predictive Replenishment
- Supply Chain Visibility
Services
- Software Design & Engineering Services
- System Integration
The Challenge
One of the largest athletic footwear companies in the world faced supply chain planning challenges typical for their industry. Boasting an enormous portfolio of high-fashion products, particularly in the Asian market, the company's planners struggled to keep up with high product style turnover and countless new product introductions. Additionally, they faced planning obstacles brought on by an extensive network of omnichannel sales including direct ecommerce, brick and mortar, as well as a world-wide network of distributors and retailers. Employees across the globe were working in silos, speaking various languages, and using different processes. The company required a solution that would support the input of critical insights from the Sales teams about changes in the market like new customers, retailers, channels, trends and products. Attempts at data-gathering and analysis in a siloed environment had resulted in lack of c-suite confidence in the forecasting and planning processes. The company needed a planning system that was flexible, unified, and supported a global rollout.
About The Customer
One of the largest athletic footwear companies in the world, this organization boasts a vast portfolio of high-fashion products, particularly in the Asian market. The company operates an extensive network of omnichannel sales, including direct ecommerce, brick-and-mortar stores, and a worldwide network of distributors and retailers. With employees spread across the globe, the company faces the challenge of coordinating efforts among teams that speak various languages and use different processes. The company is known for its high product style turnover and frequent new product introductions, which add complexity to its supply chain planning. The organization sought a solution to unify its planning processes and improve the accuracy and reliability of its sales forecasts.
The Solution
The footwear company approached Vanguard Software with its current state of challenges and was quickly impressed with the speed, flexibility, and reliability of the Vanguard Predictive Planning platform. They were particularly happy to know the system supports 100+ languages and utilizes a global mesh network, which made it the only system that could meet their planning requirements. Vanguard Software deployed the Sales Forecasting solution, starting in China and further expanding region by region. The roll-out took the greater part of a year, ensuring all teams received functionality specific to their challenges and needs, while maintaining the integrity of a unified environment across the enterprise. To address the need for accurate new product forecasting, Vanguard Software brought to the table over two decades of new product forecasting experience applying Comparable Forecasting, Spread Curves, and Supersessions to hard-to-predict product launches. At the end of the project, the company gained a fast, reliable, Sales Forecasting engine that supports Collaborative Planning Forecasting and Replenishment (CPFR).
Operational Impact
Quantitative Benefit
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