Halo Demand Sensing Leverages Artificial Intelligence to Create Precise Daily Forecasts and Accelerate Response to Events and Opportunities
Halo, the supply chain advanced analytics platform of Logility, Inc., announced the release of Halo Demand Sensing, an innovative solution that leverages artificial intelligence (AI) and multiple data streams to create an accurate sense-and-respond forecast to increase margins and optimize inventory deployment. Halo Demand Sensing builds on traditional approaches to accelerate decision-making for improved service levels, reduced inventory investment and increased profitability across retail, consumer goods, consumer electronics, and food and beverage industries.
@Halo_BI Redefines Demand Sensing to Boost Supply Chain Performance #demandsensing #supplychain #analytics
Using machine learning-based methods for forecasting, Halo Demand Sensing creates highly accurate daily forecasts in response to real-world events and has shown to improve short-term forecasting accuracy by up to 40 percent compared to traditional time-series forecasting techniques. In addition, this new solution can improve customer service levels by 10 percent through quicker, more strategic production and inventory deployment, as well as accelerated cycle times, increased visibility into event and promotional activity, and early warnings of potential product or service issues.
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“Supply chain teams face growing product assortments and the challenge of balancing profitability and service level across multiple channels,” said Keith Peterson, president, Halo. “Halo Demand Sensing helps companies harness short-term demand signals to more effectively deploy inventory into high-priority channels and locations. Through Halo Demand Sensing supply chain teams can create an accurate two-to-six week rolling daily demand profile and support a short-term inventory deployment plan with greater confidence and agility than traditional demand sensing solutions. This ability to more effectively sense and respond to short-term market need drives incremental tangible value for our customers.”
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The ability to quickly sense and respond to demand changes is a critical capability in the race to meet and exceed ever-increasing customer service requirements across multiple channels. Companies leading the demand-driven revolution use demand sensing to reduce latency in demand signals and approach near real-time channel sensing. These innovative demand sensing capabilities are available now and can be leveraged across the Logility Voyager Solutions™, Demand Solutions® and Halo portfolio to enhance supply chain performance.
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