87%
ACCURACY PREDICTION OF GOLD ITEMS
Demand Forecast for Stroili Oro
Stroili Oro was established in Friuli in 1996. The group has a network of over 400 retail stores, based in 24 countries in Europe, the USA and China. The quality/price guarantee, combined with the stylistic and manufacturing know-how of the renowned Italian tradition, have ensured that Stroili has established itself over the years as the first retailer of Made in Italy jewellery.
CUSTOMER NEEDS
The improved management of human resources and greater automation of purchasing planning activities were the impetus for the start of the project. Looking at the activities of each individual planner, it was evident that the planning was based on personal knowledge. Hence the need to describe the planning phase, to get rid of the concept of “personal forecasting style”, and provide the best possible forecast.
There was therefore the need to have a solution that would allow forecasting demand to be processed, analyzed, validated and shared with the other company functions, based on past sales data enriched and supported by parameters and proxies specific to the company’s business and the market of reference, with the aim of guiding order planning and optimizing inventory and warehouse value.
To meet the needs of Stroili Oro, beanTech developed a Demand Planning solution that has allowed the customer to achieve the following results:
80%
ACCURATE ITEMS PREDICTION IN VALUE
70%
ACCURACY OVERALL PREDICTION
THE SUCCESS STORY AT A CLICK
Discover all the functions and advantages of the solution created together with Stroili.
[…] The analysis and simulation activity showed that a large portion of the Stroili Oro offer can effectively be predicted by the forecasting models offered by beanTech, with the advantage of focusing the planning team’s activities on value-added activities, where an algorithm cannot replace sensitivity towards a market. The objectives have been achieved with great satisfaction and we are already thinking about a 2.0 phase of the project.