Boosting retail sales with smart forecasting

A leading retailer in Mexico partnered with Sintec Consulting to address stockouts and significantly improve demand forecasting accuracy. By implementing Sintec’s Smart Forecasting Analytic Asset, the company minimized forecast errors, enhanced visibility into product demand, and optimized inventory levels across categories. This transformation led to a reduction in inventory per category, an increase in sales per category, and ultimately a boost in customer satisfaction. The solution not only improved operational efficiency but also strengthened the company’s ability to meet market demand and drive growth.

Challenge.

“Overcoming stockouts and forecasting inaccuracies to boost sales”

The retailer faced significant challenges with stockouts, which were impacting both sales and customer satisfaction. Additionally, the company struggled with low forecast accuracy, leading to inefficiencies in inventory management. These issues hindered the company’s ability to meet consumer demand effectively and maintain optimal stock levels across stores, creating a need for an improved demand forecasting solution.

Solution.

The retailer partnered with Sintec Consulting to enhance its demand forecasting accuracy and address stockouts that were impacting sales and customer satisfaction. Through a tailored advanced analytics solution, Sintec Consulting helped implement a Smart Forecasting tool and improved visibility into inventory levels across stores.

Result.

The project resulted in a 43% reduction in forecast error, improving demand prediction accuracy with the support of Sintec’s Smart Forecasting Analytic Asset. Sales per category increased by 5-10%, while inventory levels were reduced by 5-13%. These achievements not only enhanced inventory management but also boosted sales and operational efficiency, positioning the retailer for sustained growth and greater market competitiveness.

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