LEAFIO Inventory Management

Demand forecasting

Power AI for the most accurate customer demand forecasts

The fundamental goal of a retail business is sales, and the main asset is inventory. What inventory level is needed to meet expected sales? What KPIs should be planned for the next year? You can answer these and other important managerial questions with the most accurate consumer demand forecasting from LEAFIO.

LEAFIO Demand forecasting: How it works

LEAFIO's AI-based demand forecasting allows you to calculate the future demand for each product as accurately as possible to avoid lost sales. The system takes into account the complete sales history of the SKU, seasonal factors, promotions, etc.

image - LEAFIO Demand forecasting: How it works
  • Consider all factors when making a forecast

    Factors influencing demand can be internal (traffic, current sales, promotions) and external (weather, region, season, etc.). Under such conditions, even experienced managers and analysts can make mistakes and inaccuracies in forecasts, which often means additional costs and loss of profit. Our algorithms take into account all variables, facilitating the work of managers and significantly increasing the forecasts’ accuracy.

  • Evaluate each demand factor separately

    The impact of each factor on the demand forecast is non-linear. LEAFIO’s algorithms can calculate and determine the level of influence of each factor individually or a combination of factors on the change in demand. Thus, the system takes into account only statistically significant factors, rejecting extraneous ones that reduce the accuracy of the forecast.

  • Building a forecasting model considering the business specifics.

    Direct Multi-step Forecast Strategy. For each period, the system builds a separate forecasting model. For example, to make a forecast for 52 weeks, it will create 52 models.  Recursive Multi-step Forecast. The model predicts the next period (for example, the next week) and then uses this data to predict each subsequent period.  Multiple Output Strategy. One model of the system predicts immediately any horizon. 

Manage your business with the actual and analyzed data

LEAFIO Demand forecasting advantages

50
%
increased forecast accuracy
70
%
reduced lost sales
50
%
reduced overstock
98
%
service level

LEAFIO Demand forecasting BENEFITS:

  • icon-Data-driven strategic decisions
icon-hover-Data-driven strategic decisions
    Data-driven strategic decisions
    Accurate ML-based forecasting allows you to make informed decisions regarding product range expansion, opening new shops, and planning annual budgets and KPIs, significantly reducing the risk of miscalculations and lost profit.
  • icon-Timely response to any demand fluctuations 
icon-hover-Timely response to any demand fluctuations
    Timely response to any demand fluctuations
    The forecasting model allows you to pay attention to seasonal spikes in advance and more accurately plan the network's stocks, which will avoid both over-stocks and a lack of goods.
  • icon-Increasing sales and customer loyalty
icon-hover-Increasing sales and customer loyalty
    Increasing sales and customer loyalty
    The system not only ensures the maximum availability of goods for customers but also manages the assortment considering their preferences. Thus, your customers will know that they will always find the right product at an affordable price, and you will be sure that they will return to you.
  • icon-Reduced costs and increased profits
icon-hover-Reduced costs and increased profits
    Reduced costs and increased profits
    Predictive accuracy ensures that inventory is best aligned with current business needs, reducing surpluses, releasing frozen inventory, and reducing product write-offs, resulting in lean resource use.

INVENTORY OPTIMIZATION SOLUTION TRUSTED BY RETAILERS THE WORLD OVER

Suitable for all retail verticals: supermarkets, pharmacies, DIY, health & beauty, convenience, liquor, toy and pet stores.

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The objectives of the solution implementation project were: increase inventory turnover and improve the SKU service level at our locations. I'm proud to say that all goals have been reached as we have achieved a significant decrease of overstock levels and an increase of product availability on the shelves. The customers can now see the improvements - all products introduced to the stores are available for purchase.
The LEAFIO team has a deep understanding of all inventory management processes, clear methodology, high-quality software, and very respectful consulting and technical support, both during the implementation and during the period after its completion. Don`t be afraid to use LEAFIO. Everything will work out. Please realize that each of your employees will work more efficiently, staying in their comfort zone. They will finally realize that this is an automation of the process and that it will be beneficial not only for them but also for the company as a whole. I would like to encourage future clients to be sure - LEAFIO team`ll help with inventory optimization and process automation. Have faith in yourself, have faith in LEAFIO.
During the year, we opened 23 new stores that were connected to the LEAFIO system. When we switched to centralized ordering, our surplus was decreased. We reduced the amount of time we spent on managing inventory in stores. The program does not work on forecasting but is based on demand. Because of this, we are managing inventory and product availability incredibly well, which is very important to the customer

Check up the LEAFIO Inventory Optimization demo

Increase the turnover and profitability of your retail!

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LEAFIO AI RETAIL PLATFORM:

  • Automatic Replenishment

    A comprehensive feature that includes automatic calculation of quantity requirements per order, automatic generation of orders, automatic dispatch of orders, automatic editing of submitted orders based on feedback from the supplier, and control of order execution.

  • Multi echelon replenishment and allocation

    Highly accurate forecast, regarding safety stocks when managing stocks in regional and central warehouses. The forecast of demand at the DC level and all parts of the supply chain, as well as various business processes are taken into account: true cross docking, pick by line, pick by zero and an alternative storage option.

  • Insightful Dashboard

    Dashboard was creatively designed for a new level of managers`s engagement to the inventory optimization process. Visual and transparent than ever. You can focus on the essentials, understand the problems without a deep analysis; it tells you where to look to make managerial decisions.

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