Back to overviewMegaFood produces & sells whole food supplements and vitamins.
A couple of factors that make it complex for Megafood to generate good demand forecasts:
- Evolving consumer preferences: The food & supplements industry is constantly evolving, with new trends and preferences emerging all the time. MegaFood must stay up-to-date with these trends to ensure that its products remain relevant and in demand. Therefore, knowing early on which new products work and which ones don’t is crucial to succeed.
- Inflationary pressure: The premium segment is decreasing because people are picking lower-priced alternatives. It becomes even more important for MegaFood to keep costs down so they can price their products competitively. Having an efficient supply chain and optimal stock levels are an important part of this, and are heavily driven by the accuracy of the demand plan.
- Reacting fast: MegaFood can’t shape the demand as much as other CPG companies can. It is really important for MegaFood to understand how the order quantities are changing from week to week and what is happening at the customer. Demand Sensing on order data and using POS data to create incredibly accurate short-term forecasts has been very helpful to MegaFood.
In this webinar, Mike Mather, Demand Planner at Megafood, will share why they decided to use AI in their demand planning process, and how he is supported by AI to understand the drivers of demand.
What you'll learn:
- Why it was a priority to transform the demand planning process
- How Megafood forecasted in the past
- Their experience with the implementation of AI
- Enhancing the forecast with the planner’s knowledge
- Forecast accuracy improvement at Megafood
- Demand detection: indexes as an input into the demand plan
- (Demand Sensing)
- How Garvis can be implemented and applied in less than a day at manufacturing companies
Whom are you going to listen to:
