Improved Accuracy of CPG Demand Planning and Forecasting

Even a 1% error reduction in forecasting can result in millions gained for CPG businesses. PredictHQ offers forecast-grade intelligence that improves forecasting accuracy and reduces errors. Find out how to access this demand intelligence.

The Challenge

Consumer behavior shifts can drastically impact demand, causing miscalculations across the entire supply chain

External circumstances – such as severe weather, sporting events, or university schedules – influence consumer behaviors and impact demand. If your models have under-forecasted or over-forecasted due to unexpected demand fluctuations, it will create bottlenecks or gaps across your entire supply chain.

Our Solution

Use external intelligence in your forecasting models to better prepare for demand shifts

Demand uncertainty is a significant issue for the consumer packaged good industry, making demand forecasting a crucial function for businesses. PredictHQ’s demand intelligence is an intelligent input to your forecast models that unlocks the external factors impacting your demand. This forecast-grade data will improve forecasting accuracy and create more resilient models that mitigate risks across the supply chain.

01

Forecasting Errors Reduced

Determine the external factors that cause the highest impact on your demand

02

Supply Chain Refined

Train forecasting models to improve accuracy and demand planning efforts

03

Product Distribution Improved

Plan distribution more accurately to prevent stocking issues at stores

01

Reduce forecasting errors

Improved forecasts result in reducing losses and increasing savings for CPG businesses across the supply chain. PredictHQ found that a 1% reduction in under-forecasting errors resulted in an average gain of $3.5M in the consumer products space.

Demand intelligence is crucial forecasting insight to reduce errors in your forecasting models. PredictHQ helps you uncover the major catalysts that cause demand shifts for your business so you can train your model with that data.

02

Improve forecasting granularity

Building resilient models requires a massive amount of data and model prioritization. With PredictHQ, receive accurate, reliable data to improve granular forecasting efforts across your business.

Have you ever thought about how sporting events are impacting your supply chain? Live TV Events is a new forecast-ready dataset that allows your forecast to account for how TV viewership is impacting consumer demand. Using historical data and machine learning, our new feature predicts TV viewership so businesses can prepare for upcoming demnd and allocated materials to the right local stores.

03

Manage your supply chain through disruption

CPG businesses have seen that unforeseen events cause major disruption across their supply chains making predictability a focus for many.

With demand intelligence, you get access to seven years of historical data so AI models can learn from demand patterns during previous disruptions. That way, teams can formulate plans long before tragedies, disasters, and other unforeseen events take place.

Customer Stories

Accurate demand planning drives profitability for CPG

Lineup uses PredictHQ's demand intelligence to reduce forecasting errors and improve model accuracy. During initial trials, Lineup’s forecasting was 35% more accurate when leveraging demand intelligence.

The beauty of machine learning is that it can detect the changes and differences across all restaurant locations and adapt, but you need to ensure the data into your models is clean, accurate, and reliable.
Read Lineup’s Story

Who else uses PredictHQ?

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