Forecasting with external factors cut inventory by 22%
The challenge
Internal history alone does not anticipate market and economic shifts. Exchange rates, industry activity and macroeconomic indicators change demand before the change shows up in sales.
Planning needed to incorporate what happens outside the company, not just project the past forward. Without that, every market deviation reached inventory as either excess or shortage.
The approach
Orion combined forecasting and decision optimization models, with 130 external macro- and microeconomic factors built into the model.
Generating market and economic scenarios made the projections more accurate and carried that information through to the planning decision. The result was a 22% reduction in inventory.
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