Lighthouse Demand Planning solution from its Lighthouse suite of products offers a very flexible environment for forecasting and demand planning across long, medium and short planning horizons. This AI powered solution drives opportunities for improved profitability and reduction in time and effort allocated to demand planning process.
Some of the key functionalities of Lighthouse Demand Planning Module are listed here.
Lighthouse offers multiple forecasting techniques for estimating consumer demand. In addition to standard techniques like Weighted Moving Average, Croston, Exponential Smoothing, Holt-Winter’s, the solution uses advanced Machine Learning techniques like Auto-ARIMA, Auto-Regression, Auto-Exponential Smoothing etc. The autonomous model selection mechanism evaluates the best forecasting technique which ensures that the model with least error is chosen.
Lighthouse Demand Planning Module enables multi-dimensional drill down at different levels of hierarchy, across product, region and time dimensions. Lighthouse also offers the ability to create parallel hierarchies in both product and region to allow maximum flexibility to view forecasts within organizations.
Graphical display of data makes the User Interface very interactive and user friendly.
Attributes associated with product or region dimensions (colour, style, size, grammage etc. of the product) can also be factored in for forecasting.
Classification of item/item locations based on certain attributes like value, volume or order frequency forms the basis of getting a clear understanding of historical trends. Classification is a medium to view forecasts based on certain criteria.
Lighthouse allows transitions planning for Phase In and Phase Out of Products/Regions through Supersession. The history of the product/region being phased out can be copied to a similar new product/region to generate a forecast for the new product/region.
Event Based Planning like Promotions Management can also be done using Lighthouse Demand Planning.
Lighthouse Demand Planning enables the user, role based viewing and editing of forecast at different levels of product and region hierarchy thereby facilitating consensus demand planning. The aggregation and disaggregation logic allows for a consistent planning approach throughout the organization. Consensus on forecast can be built Bottom-Up, Top-Down, or Middle-out based on the organizational setup.