PodCast:  Capgemini and antuit.ai - Next-Generation AI Forecasting, Consumption Sensing

Many forecasts, especially historical-based forecasts, were rendered useless during this pandemic, forcing many to rely on manual intuition for the foreseeable future. But from any disruption comes the next generation. In this special podcast, Joe Vernon, Capgemini America Retail and CPG Transformation Leader and Siva Lakshmanan, antuit.ai EVP Forecasting & Digital Supply Chain, discuss next-generation forecasting, Consumption Sensing, and how it detects consumer behavior shifts much more quickly and accurately than traditional methods.

 

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Video: Consumption Sensing – Next Generation Forecasting

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.

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Video: Retail Inventory Simulator Demonstration | Retailers, COVID-19, and the Future – Part 2

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.

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Addressing the Rippling Impact of a Pandemic on CPG Pricing Strategy

Over recent months, the global pandemic has shifted the rules of engagement for everyone, both professionally and personally. For many retail companies, doors continue to remain closed, demand for products continues to fade, and consumers are now categorizing products into either ‘essential’ or ‘non-essential’ buckets. Some Consumer Products companies (CPG) seem to be benefiting during this time as they continue to manufacture ‘essential’ products and distribute them effectively across all channels, including ecommerce. However, as the world starts to see the light at the end of a pandemic tunnel, how will this shift their CPG pricing strategy?

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Crossing the great forecasting divide – make the transition with manual processes and AI/Machine Learning

It is true – forecasts from existing demand planning systems, built largely on historical data, will be significantly off, both during and after the pandemic. To quote Yogi Berra, “It’s tough to make predictions, especially about the future.” And right now, we are experiencing an event that hasn’t happened since 1918 providing very little historical experience to draw upon.

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