Staying competitive in today’s CPG & Retail landscape requires a clear view of what will happen next. Due to changing consumer demands and uncertainty, modern supply chains and consumer demands are more volatile than ever, leading to increased transportation and inventory issues.
Quality data is the key to creating accurate plans, and The Snowflake Data Cloud provides transformational capabilities for building next-generation forecasts. Snowflake offers a powerful mechanism for centralizing data from disparate systems and incorporating various external sources. Integrating a wide variety of data leads to forecasting abilities with unprecedented predictive power.
Incorporating Point of Sale (POS) data from retailers with external predictors, like weather, mobility, and macroeconomic data, can drive significant improvements in forecast accuracy. Improving forecast accuracy even by just 0.1% could translate to $1M in revenue or savings.
Out-of-stock events and unfulfilled orders can reduce revenue and increase operating costs. Our forecasts help get products on the shelves when consumers are ready to purchase. We’ve seen clients reduce out-of-stock events by 10% and improve the case-fill rate (CFR) by over 5%.
Getting goods to the right place is costly and complex. Accurate forecasts allow organizations to reduce costs and ensure throughput to get products to consumers on time and in full. We’ve seen our customers save upwards of $2M by negotiating reserved logistics capacity.
Our goal is simple: help you solve your most critical supply-chain challenges with data. Here’s the tip of the iceberg into what our forecasting can deliver:
It varies depending on the level of customization required but typically falls into the ballpark of $150-$350K.
We are typically able to develop cutting-edge forecasting models and dashboards in 6-10 weeks.
We generally start by pulling together data sources from enterprises, such as ERP, CRM, and HR systems. Those inputs are augmented using consumption data and external sources available on the Snowflake Marketplace, such as weather, event, and mobility data. Once the data has been adapted to our forecast modeling framework, models are trained and output is exposed through a dashboard for consumption.
Data Collaboration – Snowflake provides a central platform to integrate data from disparate sources such as ERP, HR, promotions, consumption, and CRMs to offer a complete enterprise view within a single system. Landing forecast results in the same central system help evaluate accuracy more efficiently than ever. Data collaboration means that it can be used synergistically with advanced analytics approaches.
Data Marketplace and Sharing – The Snowflake Data Marketplace and Secure Data Sharing capabilities reduce the barriers to leveraging third-party data sources. The Data Marketplace provides access to various data vendors, including weather, mobility, macroeconomics, demographics, and brand affinity. On top of that, Secure Data Sharing provides a safe, efficient, and reliable mechanism for sharing with retailers or suppliers.
Analytics and Reporting – Snowflake is the ideal platform for decentralizing and federating analytics capabilities. By simplifying the process of creating secure data domains, Snowflake allows supply chain teams to take hold of their data and enhance analytics maturity. That security is coupled with elastic scalability in the cloud to ensure that reports are delivered reliably and on time.
Curious about how to accelerate your Snowflake supply chain modernization journey? We’ve got you covered!
Data Coach is our premium analytics training program with one-on-one coaching from renowned experts.