Praktiker, a Central European DIY retailer, centralized replenishment to streamline business processes, improve efficiency and scale. Moving away from previous forecasting solutions and providers, Praktiker leveraged Blue Sky’s demand forecasting service to provide reliable decision support in its merchandising team.
Statistical methods used in Forecasting White Paper
For successful inventory planning in retail it is crucial to conduct the forecasting accurately. That way you can make sound and educated decisions in the business. One possible obstacle in the way can be low data quality. Read on to find out how you can overcome that obstacle and achieve a highly accurate forecast:
Improve your retail forecast by segmenting data accurately
Background When forecasting unconstrained consumer demand for products in retail, historical sales data analysis is an important part of generating a demand forecast. In order to predict future demand, past sales performance of products is considered as an indication of future performance. For seasonal items that sell mostly during specific months of the year, this…