The Business Challenge
The client is a leading FMCG company with a global portfolio of diverse brands and products that are sold across the globe. The client wanted to build a Forecasting Weekly Sales Target Model based on open orders. The client was keen on forecasting their sales for multiple customers, drive improvements in inventory management and decision-making process.
The Solution
- Understood the data to identify the right techniques to build forecasts.
- Created baseline accuracies that the models must beat.
- Used different time series models.
The Benefits
- Less than 15% MAPE (Mean Absolute Percentage Error).
- Ability to find the trend and pattern of sales.
- Capability to plan for production and capacity.
