The panic buying and consumer demand shifts ravaged demand forecasts, leaving most CPG companies reverting to manual intervention to fix their stock issues. While unavoidable in the beginning, this event highlights the shortcomings of many forecasting methodologies: a basic assumption that demand is steady and slowly changes. Consumption sensing takes a new approach by creating a "conversation with the consumer" to predict consumer demand and identify shifts for near, mid, and long term forecasting and planning.
Recent Posts by Antuit Insights
As the economy slowly begins to open, retailers must prudently plan on what to do with their inventory as their stores reopen and demand returns. In this video, David Barach, VP of Marketing and Pricing Analytics, demonstrates antuit.ai’s Retail Inventory Simulator as a follow-up from his previous Webinar: Retailers, COVID-19, and the Future – Part 1.
Video: CPG E-commerce just accelerated 5 years...are you ready?
on April 14, 2020
| By Antuit Insights
|
Video,
Consumer Products,
Artificial Intelligence,
Demand Planning
CPG e-commerce has lagged years behind retail. That. Just. Changed.
E-commerce is exploding during COVID-19, but it’s more than a pure shift to online buying. It’s the reflection of the environment that consumers find themselves in. Fluctuating demand patterns will continue, and businesses must start being able to sense and plan for it if they want to come out ahead. Learn what changed and what others are doing in this short video.
Video: Lessons Learned From Asian Store Closings
on April 2, 2020
| By Antuit Insights
|
Pricing Analytics,
Video,
Retail,
Artificial Intelligence,
Demand Planning,
Markdown Optimization
As China, South Korea, Singapore, and Taiwan are reopening their stores after COVID-19, what can US fashion retailers learn from their experience and apply to their own business? Unfortunately, there’s some good and bad.
Retail and CPG companies are now working overtime to maintain inventory supply and minimize shortages despite wildly erratic consumer behavior. Thanks to advances in planning and order optimization, real-time adjustments to major swings in demand, like nationwide school closings and shifts to online buying, are more easily executed. Nevertheless, this has meant long hours for everyone - from the manufacturer, to the planner, to store distribution teams - and every time a basic staple reappears on the shelf or online, we consumers appreciate it.
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