Right-Sizing Product Ordering
Determining the “right” amount of product to order or to manufacture is a key component to every business with something tangible to offer – from the very small businesses to the largest brands in the world. The right amount, of course, depends on demand, which isn’t something that is very easy to predict. Analytics, however, can make the estimate more accurate.
Teradata just announced the newest version of Teradata Demand Chain Management software, which forecasts consumer demand and synchronizes retailers’ ability to meet it -- by channel -- by right-sizing inventory requirements across even the most complex supply chains.
Additionally, Teradata is now offering cloud deployment to enable data-driven retailers to take advantage of the solutions’ forecasting ability sooner – without adding additional infrastructure.
The benefits of accurately forecasting product demand and a company’s ability to keep up with the demand can lead to increased customer satisfaction and retention, increased sales, improved labor productivity and more.
When Hema, a Dutch non-food retail chain deployed Teradata Demand Chain Management, they achieved higher customer service leads and reduced inventory by being able to forecast and replenish according to actual customer shopping patterns.
New in this latest release of Teradata Demand Chain Management are:
• Improved multi-echelon replenishment capability, supporting both:
• Time-phased automated replenishment and allocation for multiple distribution center order levels, and,
• Flow-through distribution capabilities for replenishment and allocation.
• Improved Promotional Forecasting for slow-selling SKUs.
• Ability to manage the solution at an aggregate level while operations are being performed at the store/SKU level.
• Re-architected Order Review interface to support custom views for store-level users.
• New Analytic Reporting Framework to enable users to export data into a reporting and analysis framework that supports further analysis.
• A cloud deployment option, which permits the solution to run in the Teradata Cloud, leveraging Teradata Professional Services expertise.