Customers today expect effective products and hassle free on-time services. These expectations could not be met without a strong supply-chain that involves strategic planning that includes demand forecasting.
The solution in this white paper is a statistical and ML-based solution that creates timeseries regarding each product and its entitlements based on geographic locations. The inputs of renewal rates and holidays based on each country or region helped generate accurate results by count and rate-based forecast on weekly basis. These forecasts assist the business in parts procurements and help budget planning for each financial year.
The Demand Forecasting project was originally used by services finance and part planning teams. But it has the potential to broaden its horizon by expanding the scope of the forecasting project and changing the granularity of forecast with expanded end users.