Art & Science: the Dualistic Approach to Demand Forecasting

A bad forecast can produce a world of problems –  inventory piles up, customers get frustrated and the costs of doing business head north.  Add dynamics like competitive pricing environments, erratic buying behaviors and new product releases to the equation  and the practice of predicting demand feels more like a game of Russian Roulette.

We believe demand forecasting is best approached through a duality of Science and Art – Our forecasting and planning software’s powerful  engine has the ability to learn and optimize the Science of your business environment so your talented professionals can focus on the Art.

Neural Computing

A fusion of human learning within a powerful computing framework that continually learns, adapts, and improves over time on its own, Foresight’s Interactive Neural Computing framework adds one of the most powerful supply chain software innovations in decades to your daily tool-kit.

Collaboration and Consensus

Foresight’s Collaborative demand forecasting system enables users from all areas of input and impact to access, update and reliably execute on one Consensus Forecast – in real-time.

What do you want to see in your Forecast?

The Past – Better understanding of Historical Data.

Foresight’s Neural Computing Engine integrates with your System(s) of Record to constantly analyze all available data for complex correlation, pattern and trend detection. If validated and relevant, Demand Commander automatically integrates the newly discovered insight into the next round of extrapolation.

Present - Better understanding of active signals & factors.

What is happening right NOW that impacts the demand forecast? Foresight can sense and automatically integrate live sales updates, POS, VMI data, marketing & promotional activity, new product releases, and virtually any other external factors (e.g. weather patterns, housing starts, econometric inputs, etc.) with potential relevance or correlation to demand behaviors.

Future - More accurate picture of future demand.

Foresight’s multi-layered Optimization Engine serves as an environment for a Competitive Modeling approach: Classical Linear modeling techniques constantly compete with Global Optimization Modeling techniques to determine and apply the most accurate model for each product type – no matter how diverse, complex or volatile.

Conceived through the application & integration of advanced Mathematical Disciplines (e.g. Digital Signal Processing, Solid State Physics, Genetic Algorithms, Intelligent Supervisors etc.) to a proprietary environment, Foresight’s Global Optimization Modeling provides unparalleled accuracy for multi-step, long-term forecasting challenges, seasonal swings in demand, cannibalistic items, new product launches and myriad other challenges Classical Linear Modeling just plain can’t solve.

The verifiable scientific superiority of this approach/technology allows us to confidently stake our entire compensation as a company on a promise that our forecasting and planning software, Demand Commander, will reduce demand forecasting error – at your defined level of execution – by a minimum of 25% – or we give your money back.    See Our Guarantee

To the Execution Level and Beyond…

An accurate forecast is most actionable when aligned with the level at which it is executed. Our forecasting and planning software lets you view, analyze and interpret your data at your chosen level of execution. You can also define multiple lag periods for different products or departments to align with key priorities for an unlimited number of stakeholders and users – with no per-user fees.

 

How would a 25% reduction in forecasting error impact Profitability?

Demand Commander Suite