GSS - What We Do
// Demand Forecasting
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Sir Oliver Wendell Holmes




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In this period of financial uncertainty, many organizations realize that they are poorly equipped in terms of demand forecasting to face the market’s volatility.

Demand forecasting is a predictive technique that consists in using qualitative and/or quantitative methods to estimate product and service consumption in the future (day, week, month, quarter, year, etc.). Through these estimates, a firm may plan its capacity (production, human resources, purchases, inventories, etc.) in order to best adjust the demand. Gaps between the estimate and actual demand generate significant costs for the firm and directly undermine the level of satisfaction of its clients.

Nowadays, the practice of forecasting is not a matter of exclusively analyzing the historic demand data but also understanding and integrating into your models the impact of other important factors like climate, business promotions, marketing events, new legislations and other economical factors. Computers now allow us to store and quickly process a huge amount of data in order to obtain reliable demand forecasts.

In terms of demand modelling, GSS has developed flexible services adapted to your specific needs. Our objective is to maximize your return on investment and minimize the risks associated with the demand estimate.

Our intervention normally begins with an initial diagnosis of your demand forecasting system
(a 1- or 2-day assessment of your needs).

Improvement of the accuracy of your demand forecasting models
for companies that already have a demand forecasting process and wish to improve it to be more competitive.

  • We offer you an audit service that takes into consideration the following four (4) dimensions: (1) organization of the demand forecasting work;
    (2) mathematical models; (3) computer systems; and (4) forecast performance measurement. We make recommendations and assist you in implementing the solutions.

Development and integration of a customized application for demand forecasting
for companies that do not have a demand forecasting process or wish to significantly improve or redesign the existing process.

  • Based on your specific needs, we design the demand forecasting process, develop the mathematical models and implement the application all while assuring its integration with your existing software tools. We provide training to all your personnel (finance, marketing, planning, operations, etc.).

  • Our customized applications may use Microsoft Excel, Microsoft Access, MINITAB or more sophisticated applications that use SCA software (which supports advanced mathematical models like ARIMA, intervention models, transfer functions, Multivariate Adaptive Regression Splines - MARS, and so on).

 

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