How a municipal utility company elevated their demand forecasting models and solutions
When a municipal utility company faced growing inventory management challenges, it recognized the need to strengthen its demand forecasting process. To achieve this, the organization set out to leverage data analytics and enhance decision-making across its procurement operations. However, several key challenges stood in the way:
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First, there was a lack of formal demand forecasting and planning. As a result, the company incurred higher inventory costs and had limited visibility into demand trends and average lead times.
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Next, a backlog of purchase requests and contract approvals slowed procurement activities. The organization needed a clearer, more manageable, and timely process to stay on track.
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Finally, the company sought to increase the delivery of procurement services. In doing so, it aimed to improve both stakeholder satisfaction and cross-functional collaboration.
ProcureAbility’s tailored procurement solution:
Identify gaps to set the stage for immediate policy changes
Our experts assessed process structure, reporting and technology to bring forward advanced forecasting best practices for the client
Improve data analysis and reporting
Develop automated processes to boost efficiency and accuracy
Leverage advanced analytics and Python scripting
Enhance forecasting models and data preparation for scalable, adaptable solutions
Client impact and measurable results:
Increased average ``vital`` item availability to 99%
This work not only improved performance but also significantly improved cross-functional collaboration between IT, to drive aligned, high-impact outcomes in forecasting demands.
115 critical SKUs forecasted
With elevated operational capabilities, the company achieved data-driven forecast planning with advanced inventory tools for long-term adaptability
New tools implemented to automatically generate forecasts
ProcureAbility’s automation advancements significantly reduced manual tasks, saving thousands of hours and enhanced data precision.
Access the full case study for more details on how this utilities provider optimized their demand forecasting and data analytics capabilities by partnering with ProcureAbility.
