Overcoming Supply Chain Challenges Across Diverse Industries
In today’s fast paced environment, accurate demand forecasting and real time inventory optimisation is crucial for any business. From businesses into F&B Production to Q Commerce delivery, there exists unique challenges when it comes to real time supply chain planning.
In this blog, we will dive into the intricacies of the challenges faced by various industries and the best ways to overcome these challenges and predict demand accurately.
1. Food and Beverage Production
In the realm of F&B production, supply chain management plays a crucial role from sourcing raw materials, planning production and ensuring timely distribution to cater to the consumer demands. From farm to fork, every step has to be meticulously planned to ensure the freshness of products and sustainability in a market characterized by seasonal fluctuations and evolving customer preferences.
Leveraging AI for Seasonal Demand Forecast
It is important to address that accurate demand forecasting forms the foundation to solve all of these problems. Seasonal fluctuations in demand due to changing customer preferences and agricultural cycles is a common theme in this industry. Forecasting demand for such seasonal products can get tricky given the sparse nature of data and perishable nature of products. Often demand planners end up over predicting demand resulting in huge wastages.
A forecast that is comprehensive of seasonal fluctuations equips them with the ability to overcome uncertainties of any kind. Kronoscope by Fountain9 uses AI & ML algorithms to identify the effect of seasonality on a particular SKU with the help of date attributes.
Kronoscope establishes a relation of sales data with long time frame seasonal influences like winter, spring, summer, and autumn. This is done by seamlessly factoring weather APIs in the forecasting models.
Here's a sample forecast for Strawberries for one of our customers. As shown in the graph, the demand peaked during winter 23', based on which the subsequent year's demand forecast is rendered.
2. Restaurants
Restaurants have fast paced day to day operations and the key to delivering a satisfying dining experience lies in maintaining optimal inventory levels at all time. It is crucial to ensure the freshness and availability of the ingredients for any menu item. Manual supply planning practices do not offer visibility into inventory levels in real time and makes inventory optimisation a tedious task.
Real Time Inventory Optimisation and Proactive Risk Alerts
While planning supply, it is pivotal to consider factors like expected footfall, shelf life, safety stock, various supplier metrics among others. As a manual process, this involves juggling with multiple spreadsheets each with more than 1000 rows. Even after several hours of planning, the lack of end to end visibility and real time inventory movements leads to inventory imbalances.
Given the short shelf life of the ingredients, restaurants often struggle with wastages as they lack proactive measures on potential business risks. But thanks to AI powered supply planning tools, restaurants no longer have to deal with this nightmare. Kronoscope provides proactive alerts on potential excess inventory that could eventually lead to wastages.
The users get visibility into the value of working capital that is tied up in the form of excess or dead inventory. The magic doesn’t end here! The tool also allows one to immediately clear this excess stock by suggesting the optimal discount levels for liquidation. This helps restaurants to prevent wastages proactively and free up working capital for other value add activities.
3. Quick Commerce Businesses
For quick commerce businesses, supply chain is the driving force behind efficient and on time last mile deliveries. Their supply chains are characterised by speed, precision and the ability to tap into real time customer insights. Cutthroat competition and price wars are a common theme in the industry and play a pivotal role in acquiring and retaining customers.
Real-Time Price Optimisation and Demand Forecasting
It is essential to continuously monitor other players and set competing prices in real time. For this to work, one has to identify those SKUs that are sensitive to a change in price. This will help achieve a revenue boost by increasing sales revenue. However, doing this manually in an effective manner would be time consuming and may not prove effective.
Kronoscope automates this process end to end and makes real time price optimisation across thousands of SKUs seamless. It offers real time visibility into price adjusted demand for any SKU.
This will help eliminate those SKUs which don’t show an increase in demand even when prices are discounted. Businesses can leverage this and tap into the customer buying behavior to offer products at the best price.
4. Consumer Goods and Electronics
The Consumer Electronics industry deals with commodities that have shorter product life cycles owing to the fast evolving technology trends. In order to keep up with these trends, it is important to make sure that the best quality products are manufactured and distributed on time. However, global supply chain disruptions often cause issues like shortage of raw materials resulting in late shipments, delayed manufacturing and product quality issues.
Predictive Analytics for Efficient Production Planning
It is crucial to address these issues to reduce the impact of these disruptions and ensure customer satisfaction. This requires more transparency in the production planning process, supplier evaluation, raw material level racking and forecasting.
Predictive analytics tools make the entire production process seamless in a matter of a few clicks.
Kronoscope helps in factoring important aspects such as dynamic, safety stock, lead time demand, supplier fill rate and price, open orders and vendor minimums. This helps in creating a comprehensive production plan at the raw material level across different manufacturing facilities. Businesses can reduce their planning time by an impressive 200% with the help of these automation tools.
Accurate demand forecasting and inventory management is the cornerstone of effective day to day operations in any industry vertical. Harnessing the power of AI to predict demand accurately helps overcome the unique challenges pertaining to each industry. It helps to optimize inventory levels, improve customer satisfaction, and enhance overall operational efficiency. In an ever-evolving market, the ability to leverage technology for demand and supply planning is not just an advantage but a necessity for sustainable growth and success.
In today’s fast paced environment, accurate demand forecasting and real time inventory optimisation is crucial for any business. From businesses into F&B Production to Q Commerce delivery, there exists unique challenges when it comes to real time supply chain planning.
In this blog, we will dive into the intricacies of the challenges faced by various industries and the best ways to overcome these challenges and predict demand accurately.
1. Food and Beverage Production
In the realm of F&B production, supply chain management plays a crucial role from sourcing raw materials, planning production and ensuring timely distribution to cater to the consumer demands. From farm to fork, every step has to be meticulously planned to ensure the freshness of products and sustainability in a market characterized by seasonal fluctuations and evolving customer preferences.
Leveraging AI for Seasonal Demand Forecast
It is important to address that accurate demand forecasting forms the foundation to solve all of these problems. Seasonal fluctuations in demand due to changing customer preferences and agricultural cycles is a common theme in this industry. Forecasting demand for such seasonal products can get tricky given the sparse nature of data and perishable nature of products. Often demand planners end up over predicting demand resulting in huge wastages.
A forecast that is comprehensive of seasonal fluctuations equips them with the ability to overcome uncertainties of any kind. Kronoscope by Fountain9 uses AI & ML algorithms to identify the effect of seasonality on a particular SKU with the help of date attributes.
Kronoscope establishes a relation of sales data with long time frame seasonal influences like winter, spring, summer, and autumn. This is done by seamlessly factoring weather APIs in the forecasting models.
Here's a sample forecast for Strawberries for one of our customers. As shown in the graph, the demand peaked during winter 23', based on which the subsequent year's demand forecast is rendered.
2. Restaurants
Restaurants have fast paced day to day operations and the key to delivering a satisfying dining experience lies in maintaining optimal inventory levels at all time. It is crucial to ensure the freshness and availability of the ingredients for any menu item. Manual supply planning practices do not offer visibility into inventory levels in real time and makes inventory optimisation a tedious task.
Real Time Inventory Optimisation and Proactive Risk Alerts
While planning supply, it is pivotal to consider factors like expected footfall, shelf life, safety stock, various supplier metrics among others. As a manual process, this involves juggling with multiple spreadsheets each with more than 1000 rows. Even after several hours of planning, the lack of end to end visibility and real time inventory movements leads to inventory imbalances.
Given the short shelf life of the ingredients, restaurants often struggle with wastages as they lack proactive measures on potential business risks. But thanks to AI powered supply planning tools, restaurants no longer have to deal with this nightmare. Kronoscope provides proactive alerts on potential excess inventory that could eventually lead to wastages.
The users get visibility into the value of working capital that is tied up in the form of excess or dead inventory. The magic doesn’t end here! The tool also allows one to immediately clear this excess stock by suggesting the optimal discount levels for liquidation. This helps restaurants to prevent wastages proactively and free up working capital for other value add activities.
3. Quick Commerce Businesses
For quick commerce businesses, supply chain is the driving force behind efficient and on time last mile deliveries. Their supply chains are characterised by speed, precision and the ability to tap into real time customer insights. Cutthroat competition and price wars are a common theme in the industry and play a pivotal role in acquiring and retaining customers.
Real-Time Price Optimisation and Demand Forecasting
It is essential to continuously monitor other players and set competing prices in real time. For this to work, one has to identify those SKUs that are sensitive to a change in price. This will help achieve a revenue boost by increasing sales revenue. However, doing this manually in an effective manner would be time consuming and may not prove effective.
Kronoscope automates this process end to end and makes real time price optimisation across thousands of SKUs seamless. It offers real time visibility into price adjusted demand for any SKU.
This will help eliminate those SKUs which don’t show an increase in demand even when prices are discounted. Businesses can leverage this and tap into the customer buying behavior to offer products at the best price.
4. Consumer Goods and Electronics
The Consumer Electronics industry deals with commodities that have shorter product life cycles owing to the fast evolving technology trends. In order to keep up with these trends, it is important to make sure that the best quality products are manufactured and distributed on time. However, global supply chain disruptions often cause issues like shortage of raw materials resulting in late shipments, delayed manufacturing and product quality issues.
Predictive Analytics for Efficient Production Planning
It is crucial to address these issues to reduce the impact of these disruptions and ensure customer satisfaction. This requires more transparency in the production planning process, supplier evaluation, raw material level racking and forecasting.
Predictive analytics tools make the entire production process seamless in a matter of a few clicks.
Kronoscope helps in factoring important aspects such as dynamic, safety stock, lead time demand, supplier fill rate and price, open orders and vendor minimums. This helps in creating a comprehensive production plan at the raw material level across different manufacturing facilities. Businesses can reduce their planning time by an impressive 200% with the help of these automation tools.
Accurate demand forecasting and inventory management is the cornerstone of effective day to day operations in any industry vertical. Harnessing the power of AI to predict demand accurately helps overcome the unique challenges pertaining to each industry. It helps to optimize inventory levels, improve customer satisfaction, and enhance overall operational efficiency. In an ever-evolving market, the ability to leverage technology for demand and supply planning is not just an advantage but a necessity for sustainable growth and success.
In today’s fast paced environment, accurate demand forecasting and real time inventory optimisation is crucial for any business. From businesses into F&B Production to Q Commerce delivery, there exists unique challenges when it comes to real time supply chain planning.
In this blog, we will dive into the intricacies of the challenges faced by various industries and the best ways to overcome these challenges and predict demand accurately.
1. Food and Beverage Production
In the realm of F&B production, supply chain management plays a crucial role from sourcing raw materials, planning production and ensuring timely distribution to cater to the consumer demands. From farm to fork, every step has to be meticulously planned to ensure the freshness of products and sustainability in a market characterized by seasonal fluctuations and evolving customer preferences.
Leveraging AI for Seasonal Demand Forecast
It is important to address that accurate demand forecasting forms the foundation to solve all of these problems. Seasonal fluctuations in demand due to changing customer preferences and agricultural cycles is a common theme in this industry. Forecasting demand for such seasonal products can get tricky given the sparse nature of data and perishable nature of products. Often demand planners end up over predicting demand resulting in huge wastages.
A forecast that is comprehensive of seasonal fluctuations equips them with the ability to overcome uncertainties of any kind. Kronoscope by Fountain9 uses AI & ML algorithms to identify the effect of seasonality on a particular SKU with the help of date attributes.
Kronoscope establishes a relation of sales data with long time frame seasonal influences like winter, spring, summer, and autumn. This is done by seamlessly factoring weather APIs in the forecasting models.
Here's a sample forecast for Strawberries for one of our customers. As shown in the graph, the demand peaked during winter 23', based on which the subsequent year's demand forecast is rendered.
2. Restaurants
Restaurants have fast paced day to day operations and the key to delivering a satisfying dining experience lies in maintaining optimal inventory levels at all time. It is crucial to ensure the freshness and availability of the ingredients for any menu item. Manual supply planning practices do not offer visibility into inventory levels in real time and makes inventory optimisation a tedious task.
Real Time Inventory Optimisation and Proactive Risk Alerts
While planning supply, it is pivotal to consider factors like expected footfall, shelf life, safety stock, various supplier metrics among others. As a manual process, this involves juggling with multiple spreadsheets each with more than 1000 rows. Even after several hours of planning, the lack of end to end visibility and real time inventory movements leads to inventory imbalances.
Given the short shelf life of the ingredients, restaurants often struggle with wastages as they lack proactive measures on potential business risks. But thanks to AI powered supply planning tools, restaurants no longer have to deal with this nightmare. Kronoscope provides proactive alerts on potential excess inventory that could eventually lead to wastages.
The users get visibility into the value of working capital that is tied up in the form of excess or dead inventory. The magic doesn’t end here! The tool also allows one to immediately clear this excess stock by suggesting the optimal discount levels for liquidation. This helps restaurants to prevent wastages proactively and free up working capital for other value add activities.
3. Quick Commerce Businesses
For quick commerce businesses, supply chain is the driving force behind efficient and on time last mile deliveries. Their supply chains are characterised by speed, precision and the ability to tap into real time customer insights. Cutthroat competition and price wars are a common theme in the industry and play a pivotal role in acquiring and retaining customers.
Real-Time Price Optimisation and Demand Forecasting
It is essential to continuously monitor other players and set competing prices in real time. For this to work, one has to identify those SKUs that are sensitive to a change in price. This will help achieve a revenue boost by increasing sales revenue. However, doing this manually in an effective manner would be time consuming and may not prove effective.
Kronoscope automates this process end to end and makes real time price optimisation across thousands of SKUs seamless. It offers real time visibility into price adjusted demand for any SKU.
This will help eliminate those SKUs which don’t show an increase in demand even when prices are discounted. Businesses can leverage this and tap into the customer buying behavior to offer products at the best price.
4. Consumer Goods and Electronics
The Consumer Electronics industry deals with commodities that have shorter product life cycles owing to the fast evolving technology trends. In order to keep up with these trends, it is important to make sure that the best quality products are manufactured and distributed on time. However, global supply chain disruptions often cause issues like shortage of raw materials resulting in late shipments, delayed manufacturing and product quality issues.
Predictive Analytics for Efficient Production Planning
It is crucial to address these issues to reduce the impact of these disruptions and ensure customer satisfaction. This requires more transparency in the production planning process, supplier evaluation, raw material level racking and forecasting.
Predictive analytics tools make the entire production process seamless in a matter of a few clicks.
Kronoscope helps in factoring important aspects such as dynamic, safety stock, lead time demand, supplier fill rate and price, open orders and vendor minimums. This helps in creating a comprehensive production plan at the raw material level across different manufacturing facilities. Businesses can reduce their planning time by an impressive 200% with the help of these automation tools.
Accurate demand forecasting and inventory management is the cornerstone of effective day to day operations in any industry vertical. Harnessing the power of AI to predict demand accurately helps overcome the unique challenges pertaining to each industry. It helps to optimize inventory levels, improve customer satisfaction, and enhance overall operational efficiency. In an ever-evolving market, the ability to leverage technology for demand and supply planning is not just an advantage but a necessity for sustainable growth and success.
In today’s fast paced environment, accurate demand forecasting and real time inventory optimisation is crucial for any business. From businesses into F&B Production to Q Commerce delivery, there exists unique challenges when it comes to real time supply chain planning.
In this blog, we will dive into the intricacies of the challenges faced by various industries and the best ways to overcome these challenges and predict demand accurately.
1. Food and Beverage Production
In the realm of F&B production, supply chain management plays a crucial role from sourcing raw materials, planning production and ensuring timely distribution to cater to the consumer demands. From farm to fork, every step has to be meticulously planned to ensure the freshness of products and sustainability in a market characterized by seasonal fluctuations and evolving customer preferences.
Leveraging AI for Seasonal Demand Forecast
It is important to address that accurate demand forecasting forms the foundation to solve all of these problems. Seasonal fluctuations in demand due to changing customer preferences and agricultural cycles is a common theme in this industry. Forecasting demand for such seasonal products can get tricky given the sparse nature of data and perishable nature of products. Often demand planners end up over predicting demand resulting in huge wastages.
A forecast that is comprehensive of seasonal fluctuations equips them with the ability to overcome uncertainties of any kind. Kronoscope by Fountain9 uses AI & ML algorithms to identify the effect of seasonality on a particular SKU with the help of date attributes.
Kronoscope establishes a relation of sales data with long time frame seasonal influences like winter, spring, summer, and autumn. This is done by seamlessly factoring weather APIs in the forecasting models.
Here's a sample forecast for Strawberries for one of our customers. As shown in the graph, the demand peaked during winter 23', based on which the subsequent year's demand forecast is rendered.
2. Restaurants
Restaurants have fast paced day to day operations and the key to delivering a satisfying dining experience lies in maintaining optimal inventory levels at all time. It is crucial to ensure the freshness and availability of the ingredients for any menu item. Manual supply planning practices do not offer visibility into inventory levels in real time and makes inventory optimisation a tedious task.
Real Time Inventory Optimisation and Proactive Risk Alerts
While planning supply, it is pivotal to consider factors like expected footfall, shelf life, safety stock, various supplier metrics among others. As a manual process, this involves juggling with multiple spreadsheets each with more than 1000 rows. Even after several hours of planning, the lack of end to end visibility and real time inventory movements leads to inventory imbalances.
Given the short shelf life of the ingredients, restaurants often struggle with wastages as they lack proactive measures on potential business risks. But thanks to AI powered supply planning tools, restaurants no longer have to deal with this nightmare. Kronoscope provides proactive alerts on potential excess inventory that could eventually lead to wastages.
The users get visibility into the value of working capital that is tied up in the form of excess or dead inventory. The magic doesn’t end here! The tool also allows one to immediately clear this excess stock by suggesting the optimal discount levels for liquidation. This helps restaurants to prevent wastages proactively and free up working capital for other value add activities.
3. Quick Commerce Businesses
For quick commerce businesses, supply chain is the driving force behind efficient and on time last mile deliveries. Their supply chains are characterised by speed, precision and the ability to tap into real time customer insights. Cutthroat competition and price wars are a common theme in the industry and play a pivotal role in acquiring and retaining customers.
Real-Time Price Optimisation and Demand Forecasting
It is essential to continuously monitor other players and set competing prices in real time. For this to work, one has to identify those SKUs that are sensitive to a change in price. This will help achieve a revenue boost by increasing sales revenue. However, doing this manually in an effective manner would be time consuming and may not prove effective.
Kronoscope automates this process end to end and makes real time price optimisation across thousands of SKUs seamless. It offers real time visibility into price adjusted demand for any SKU.
This will help eliminate those SKUs which don’t show an increase in demand even when prices are discounted. Businesses can leverage this and tap into the customer buying behavior to offer products at the best price.
4. Consumer Goods and Electronics
The Consumer Electronics industry deals with commodities that have shorter product life cycles owing to the fast evolving technology trends. In order to keep up with these trends, it is important to make sure that the best quality products are manufactured and distributed on time. However, global supply chain disruptions often cause issues like shortage of raw materials resulting in late shipments, delayed manufacturing and product quality issues.
Predictive Analytics for Efficient Production Planning
It is crucial to address these issues to reduce the impact of these disruptions and ensure customer satisfaction. This requires more transparency in the production planning process, supplier evaluation, raw material level racking and forecasting.
Predictive analytics tools make the entire production process seamless in a matter of a few clicks.
Kronoscope helps in factoring important aspects such as dynamic, safety stock, lead time demand, supplier fill rate and price, open orders and vendor minimums. This helps in creating a comprehensive production plan at the raw material level across different manufacturing facilities. Businesses can reduce their planning time by an impressive 200% with the help of these automation tools.
Accurate demand forecasting and inventory management is the cornerstone of effective day to day operations in any industry vertical. Harnessing the power of AI to predict demand accurately helps overcome the unique challenges pertaining to each industry. It helps to optimize inventory levels, improve customer satisfaction, and enhance overall operational efficiency. In an ever-evolving market, the ability to leverage technology for demand and supply planning is not just an advantage but a necessity for sustainable growth and success.
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