Forecasting Engine

A headless forecasting engine using various machine learning models to find reliable outcomes at > 90% accuracy.

The problem & situation

We were fortunate to work with a European giant from the logistics industry. They maintain a large and complex supply-chain for the food production industry, focusing on a vital part: packing. They live by the highest standards towards their customers, guaranteeing that the required means for transportation are available when the time comes. In order to keep this promise, conventional methods led them to keep more stock than strictly required. However, our client invested in smart technology and gathering a lot of data to get detailed information about their network. Now comes the time to transform this information into actionable insights.

The solution

We've created a tailor-made forecasting engine specifically trained on the daily data produced by our client. We explored various machine learning models to eventually find a sub-set of methods that gave the most reliable output and highest accuracy scores. The engine is designed in a flexible way and set up to continuously improve over time. Easily ingesting new datasets and new data sources. Making experimenting with external data sets to make the model potentially stronger, an efficient and rewarding process. The system was set up headless in order to fit easily into the existing workflows of our client, without hassle.

The outcome

Time will tell how much our forecasting engine wil save in terms of CAPEX for our client. We estimate that for the next couple of years, the engine will help our client reduce their stock by a few percent each year. Resulting in very large cost savings.

Ready to take off?

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