Building a data product to anticipate fluctuations in the retail industry and accurately forecast sales volumes
As a rule, fluctuating sales in the retail sector leads to empty shelves, a decline in revenue and increased outlay in terms of logistics. With this as our starting point, we developed a data product that supports the analysis and forecasting platform for Markant Handels- und Industriewaren-Vermittlungs AG. The platform can accurately forecast future sales volumes.
It does so by first aggregating the anticipated sales figures of all retailers, so that they may be linked and harmonized across the board. Historical data and external factors are factored in as well. The result is a production scheduling system that allows plans to be made six months in advance.
With around 14,000 suppliers and 150 dealer partners, Markant Handels- und Industriewaren-Vermittlungs AG is the largest trade and service co-operation in Europe.
“Thanks to our cooperation with One Data, our partners on the Markant forecasting platform can now forecast the sales of several thousand nearfood items across all trading partners much more precisely than before. This opens up all-new possibilities, especially for our contract suppliers.“
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