Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest demand forecasting engagement for an e-commerce retailer. This success story explains how Quantzig helped an e-commerce firm to redefine its demand planning and demand forecasting framework to provide an effective response to the health crisis and cater to the dynamic demands of its customers.
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Demand Forecasting Engagement Summary (Graphic: Business Wire)
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In the wake of the coronavirus outbreak, e-commerce retailers are rapidly redefining their approach to demand forecasting to drive better outcomes. The pandemic induced disruption has brought about several changes in the e-commerce sector in Germany. This is one of the reasons why leading e-commerce retailers are focusing on building a robust demand forecasting framework for examining data and forecasting demand for different product categories. Since analyzing demand is crucial to tackling the crisis, businesses have started to realize the importance of deploying a robust demand forecasting framework that can help capture demand data and provide updates on future demand patterns. This, in turn, can help e-commerce companies to provide an effective response to the health crisis and cater to the dynamic demands of its customers.
At Quantzig, we understand the challenges faced by e-commerce companies in Germany. Unlike traditional approaches, our supply chain analytics solutions are designed to help you extract maximum insights to drive positive business outcomes.
Are you looking to leverage demand forecasting to gauge the market value of products? Talk to our analytics experts to learn more about the use cases of demand forecasting in the e-commerce industry.
The Business Challenge
Tackling the crisis-induced challenges and generating accurate sales and demand forecasts was crucial for an ecommerce retail industry client based out of Germany. The pandemic outbreak had resulted in a huge surge in demand for certain product categories due to which the client faced several challenges in fulfillment and demand management.
The client’s challenges included:
- Inadequate workflow
- Incompetent demand forecasting frameworks
- High-cost pressures
“Driven by the rise in internet penetration, smartphone usage, shift to digital wallets & online payments, and language diversity on e-commerce platforms, the e-commerce retail industry in Germany has grown substantially and is poised to witness an accelerating growth margin in 2020,” says a demand forecasting expert from Quantzig.
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The Solution Offered & Value Delivered
In collaboration with Quantzig, the German e-commerce client gained actionable insights that helped them design and implement a robust demand forecasting framework. As a result, the client was able to gain granular demand and sales insights that enabled them to plan their inventories and manage the demand surge without affecting customer relationships.
Quantzig’s demand forecasting solutions also enabled the client to:
- Deploy holistic demand forecasting modules to analyze and model scenarios and set sales goals by infusing market data and e-commerce trends
- Increase average order value (AOV) by 52%
Quantzig’s demand forecasting solutions offered predictive insights on:
- Accurately forecasting the demand for each SKU based on the regions and zip codes
- Communicating expected orders for relevant products including essentials, disposables, and personal hygiene products in advance
Are you ready to transform supply chain challenges into fruitful opportunities? If yes, Contact our analytics experts to learn more.
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- Redesigning The Pharma Logistics Supply Chain To Combat The Impact Of Covid-19
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- Marketing Mix Optimization: Creating Simulated Forecasts Of Marketing Scenarios To Withstand The Impact Of Covid-19 On The Health And Wellness Industry
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal