Pharos gives you the power to evaluate replenishment data such as timing, availability, demand forecasting, and delivery speed.
Understanding your in-stock rate, forecasting accuracy, and other key replenishment metrics helps suppliers to better understand, predict, and plan their products in store and online. If your product is performing at a high rate, you need visibility so you can quickly react to take advantage of surges and adjust your replenishment to back-fill in stores where your product is a high performer.
Mariani Family is a 4th generation-led producer of rehydrated, dried fruit products who believes in the positive impact of real, whole, nutritious food. They have been a long-time supplier for Walmart. After a recent MOD relay, they noticed several of their items were outselling Walmart’s demand forecast at a large enough rate that inventory at store level was beginning to be impacted, as Walmart uses their demand forecast to place orders. If the forecast inaccuracy is significant enough, the system will not know it needs to order more product to cover the increased sales. Eventually, this will lead to the in-stock metric dropping, resulting in missed sales opportunities.
The best way to monitor forecast accuracy is to compare a week’s forecasted units to the units sold for the same week and then see if the future forecast is following the same trend. The Forecast & Inventory Dashboard does just that. This dashboard provides a one stop shop for historical forecasts, sales, and future trends. The dashboard is presented in such a way that both a screen grab or an export can be sent to Walmart for review. It provides a clearly marked, easy to read layout that has all the data needed to spot and track a trend in forecast versus sales accuracy. The 12 weeks of historical data this dashboard provides makes for a powerful tool to highlight both positive and negative forecast trends to Walmart.
Mariani was able to use this export to alert Walmart to a trend of certain items outselling their forecast for several weeks in a row. Using this data, they were able to present rationale for adjustments that needed to made to the forecast, bringing the forecast up, and aligning it better with sales. Increased forecast led to increased in-stocks which led to increased sales on these items. The dashboard also allowed Mariani to monitor the changes to make sure the corrections were enough to cover the gap as well as making sure the demand level remained in a healthy position.
Pharos is built to help you maximize profit. Forecasts at all levels - daily, weekly, and monthly - give you a pulse on your business so you can always aim to meet customer demands and gain a competitive advantage. Pharos delivers these kinds of insights so you can make incremental changes to fully optimize your sales potential and fulfillment when needed.
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