AIMMS is proud to announce the launch of Demand Forecasting Navigator, a new App in the company’s supply chain planning suite, AIMMS SC Navigator. Demand Forecasting Navigator uses machine learning algorithms to fine tune demand forecasts on a continuous basis. It does the heavy lifting on data clean-up, so planners can focus on important trends and outliers.
AIMMS research shows companies are striving to improve forecast accuracy
According to a survey carried out by AIMMS among more than 300 professionals, improving forecast accuracy is of the highest priority. A combined 61% of research participants indicated that improving forecast accuracy is either “important” or “extremely important” for their organizations. Only 2% of respondents reported being “extremely satisfied” with the accuracy of their forecasts. Most survey participants use spreadsheets for demand forecasting (39%). Nearly half of them are dissatisfied with this toolset. Spreadsheets are too labor-intensive and provide no audit trail. Looking at thousands of products on Excel is simply too strenuous, even for monthly cycles.
To improve accuracy and streamline the workload, many are exploring new technologies. AIMMS’ research shows that 41% of organizations are looking into machine learning. Demand Forecasting Navigator responds to this market need. It provides the swiftness organizations today are looking for. The App is easy to use, and teams can be up and running in less than a day.
How planning teams benefit
Demand Forecasting Navigator allows planners to automate labor-intensive work and easily detect and treat outliers in historical data. The App enables users to define a multi-tier forecasting hierarchy to forecast at different levels of aggregation. Planners remain in control and can change the statistical model used with a simple click.
Demand Forecasting Navigator provides the input for Stage 1 of S&OP and can be used alone, or in combination with AIMMS S&OP Navigator to easily create different demand scenarios, understand the impact on the supply plan, and fuel collaboration across functions.
“We are thrilled to present Demand Forecasting Navigator to the market,” says AIMMS SC Navigator Director Brian Dooley. “We built the App in close cooperation with customers, listening attentively to their feedback, and put in significant effort into understanding the typical issues planners face with commonly used technologies and tools. Demand Forecasting Navigator is more robust and less manual than spreadsheets, so it drastically reduces the time planners typically have to invest when preparing a forecast. It can be easily plugged into a company’s existing technology stack and is a great addition to our SC Navigator platform.”
Contact AIMMS to request a demo.