At Solvay, external data shows the way to improved demand forecasting
The eventual result of our Forecasting Improvement Program was that we could prove, qualitatively and quantitatively, that Solventure’s leading indicator forecasting model can save Solvay 3 months’ time to predict and adjust to market evolutions, even if these aren’t apparent in our Sales forecasting yet. With this model, we can have a real forecasting discussion about 2 valid forecasting models, instead of relying on one Sales forecasting model. And most importantly, by using the leading indicators, we managed to increase our forecasting accuracy to 90%, instead of 66% in Sales rep. forecasting.”
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