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Forecasting Demand for Automotive Spare Parts
Accurate demand forecasts for automotive spare parts is important to ensure high service levels that minimize disruptions for customers when their vehicles are in need of mechanical repair. However, the number of distinct parts and the number of distinct vehicles are high, which both complicate the forecasting process.
Demand Forecasts for Hard Luxury
Hard luxury is characterized by an exceedingly low sales volume. Time-series forecasting methods are ineffective at delivering any kind of supply chain optimization. Yet, the quantitative optimization of assortments, stocks and prices is possible for hard luxury - even when looking at the most disaggregated level, e.g. stores.
Quantitative Supply Chain For Fashion
Fashion brands are driven by novelty. This puts a lot of pressure on fashion supply chains to reduce overstocks, both to reduce the discount rates but also to make room for the new collections. Overstocks are typically caused by an incorrect prior forecast of the customer demand.
Forecasting For Aerospace
Forecasting demand in aerospace is difficult because demand is both highly erratic and intermittent. Also, TAT (turnaround times) need to be forecasted as well. In practice, probabilistic forecasts are required to achieve any meaningful results in the aerospace industry.