A financial services firm asked us to identify factors leading…
One of the fashion retailers asked us to address the root cause stems from having a flat assortment buying practice that is not in sync with the customer’s buying pattern.
The proportion of historical sales to the forecast would enable the company to reduce overall inventory level from the current trend, avoids stock-outs, lesser items would need to be put on clearance, and increasingly look at a company’s inventory to assess its health.
Data Collection and Model building
- Data is extracted from the Retail Management System
- Analyzed across all categories
- Category with Clearance Sale >50% was chosen
- Data converted to Time Series
- Month & Full Price Sales Qty
- Time series Performed
- Performed different Time series models
- Studied the seasonal patterns
- Seasonal pattern noticed
- Holtwinters announced as a winner with in terms of accuracy
- Forecasted for the required time periods
“Sunrise provided valued analytical support to our team. Recommend Sunrise for cost effectiveness and quality offshore support.”