SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latestsupply and demand forecasting engagement for an automotive company. The report highlights how latest technologies such as big data, cloud computing, and the Internet of Things (IoT) are going to influence the end-user experience and supply chain efficiency for automotive companies. It also analyzes the significance of supply and demand forecasting solutions in addressing irregularities in the supply and demand curve.
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Supply and demand forecasting engagement for an automotive company (Graphic: Business Wire)
Rapid technological advancements in the automotive industry are creating difficulties for companies, especially when it comes to withstanding the growing competition. They are consistently required to improve their end-user experience to respond in an agile manner to varying customer needs. This has created the need for demand forecasting strategies for companies in the automotive sector to predict future demand patterns. Also, it has created a necessity for companies to address the shortcomings of traditional supply chain management systems and analyze market demands to translate the requirements into supply chain responses.
According to the procurement experts at SpendEdge, “With the introduction of automotive industry trends such as big data and cloud computing, it has become a necessity for companies to adapt to these trends to withstand the growing competition."
The Business Problem: The client is a renowned company in the automotive industry in the United States with annual revenue of $13 billion. Being comparatively new in the market, the company wanted to ensure timely production of their products. They wanted to reduce their operational inefficiencies and streamline their planning and marketing process that can balance out the irregularities in the supply and demand curve. All such requirements forced the company to leverage SpendEdge’s supply and demand forecasting strategy to improve their pricing and procurement decision making processes.
Streamlining planning and marketing processes can help companies to increase their operational efficiencies. Talk to our experts and know how our supply and demand forecasting solutions can help your organization reduce inconsistencies.
The Solution Offered: To meet the needs of the automotive company, the experts at SpendEdge conducted a supply and demand forecasting analysis and devised a supply and demand chart for the automotive market. This helped the client to understand the latest automotive industry trends and plan their inventory accordingly to reduce stock outs. The supply and demand forecasting solutions also provided the client with the necessary insights required for decision making with regards to product development, market requirements, and supply chain risk evaluation. This helped the company to enhance the efficacy of their supply chain performance and optimize their cash flow. The improved supply and demand forecasting accuracy also enabled automotive company to develop an effective inventory replenishment plan.
Improved supply chain efficiency can help companies to reduce production costs. If you are interested in optimizing your cash flow by efficiently managing your production costs, request a free proposal now!
SpendEdge’s supply and demand forecasting solutions helped the client to:
- Enhance forecast accuracy.
- Optimize cash flow by improving supply chain performance.
- Want to know how our supply and demand forecasting strategies can help in the growth of your business? Request a free demo!
SpendEdge’s supply and demand forecasting solutions also offered predictive insights on:
- Reducing stock-outs through better inventory management.
- Designing a supply and demand chart for the automotive market.
- Read the complete article to know more: https://www.spendedge.com/casestudy/automotive-industry-demand-forecasting
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal
View source version on businesswire.com: https://www.businesswire.com/news/home/20190128005401/en/
