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Adapting demand forecasting to multichannel
Posted on Tuesday, 9 June 2015

10June_ToolsGroup

Multichannel needs a new way of forecasting demand – rather than just answering the question “How many will we sell?” – also addressing the question “How will the consumer buy?” The problem is that most multichannel demand forecasting today is still one-dimensional, focused on product demand per week, for weeks or months into the future. However, the processes and resources to meet this demand vary according to how the consumer actually makes the purchase.

Besides buying on-line or purchasing in store, there are many other combinations of ways consumers can shop and have their orders fulfilled, including:

  • Click-and-collect in-store (buys online and collects within the store)
  • Click-and-collect remotely to the store (buys online, and then collects from a locker location or drive-through collection outside the store)
  • Reserve online and collect in store (order online, pay and collect within the store)
  • Buy online and ship from store to their home or another address

Forecasting each channel enables an approach where instead of always reacting to demand with expensive cross-channel fulfillment, the fulfillment channel is planned proactively before getting the customer order.

To get a better grasp of how to implement multichannel demand forecasting, read the complete article here.

ToolsGroup is present in the Philippines via technology consulting company and ToolsGroup partner MISNet. For inquiries, call 621-9202 and ask for Yanna or email marketing@misnet.com.ph.


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