How a municipal utility company elevated their demand forecasting models and solutions
When a municipal utility company faced inventory management challenges, they set out to strengthen their material planning process by leveraging data analytics to improve decision-making. Their key procurement challenges included:
- Lack of formal forecasting and planning. The company was generating higher inventory costs and lacked an understanding of demand trends and average lead times.
- Backlog of purchase requests and contract approvals. The organization needed a clear, manageable and timely process.
- Increasing the delivery of procurement services. This work would also improve stakeholder satisfaction and 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
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.
