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Virtual Demand Forecasting

Hatmill is a hands-on supply chain and logistics consultancy delivering improvements to warehouses, transport, forecasting and inventory, so clients become more profitable and transform their customers’ experience.

About our service

Virtual Demand Forecasting

We offer cutting-edge, outsourced demand forecast solutions that improve accuracy of forecast data, so you can deliver products on time and create a seamless customer experience. Whether you have a small, medium or large-sized company the combined experience of our demand forecasting team, along with advanced algorithms and methodology, will take the pain out of demand planning and free up much needed working capital too.

Accurate demand planning that actually provides value

Customer demand forecasting is a fundamental step in the business-planning process. It helps sales and finance teams create essential sales forecasts, while also supporting inventory planning and purchasing. But traditional methods of demand forecasting such as spreadsheets are outdated, time-consuming, and often inaccurate. This means that many businesses are working with incorrect data, essentially pouring money down the drain through excess stock and failed ‘out of stock’ sales.

At Hatmill, we’ve developed sophisticated demand planning algorithms combined with proven forecasting techniques to ensure that your forecast gets better. Not only will our virtual demand planning team save you money, but they can get your business future-ready with a robust system as your operation scales up and grows.

Virtual demand forecaster - what you’ll get:
  • Access to a wide range of skills that offer an impartial, unbiased view of demand/sales
  • A statistical forecast that assesses trend, seasonality and level based on quantitative input from a client
  • The ability to incorporate qualitative data where appropriate
  • A rigorous review process to continuously improve forecast accuracy
  • A reporting suite that allows clients greater visibility of performance in hierarchies of their choice

Virtual Demand Forecasting: How can we help you?

I want to...

  • Better forecast accuracy allows your inventory profile to mirror customer demand, ensuring orders are fulfilled on time, reducing lost sales, expediting requirements, freight, and customer follow-ups.

  • By improving forecast accuracy, your purchasing spend is aligned with demand, minimising excess inventory provisioning, improving profit margin and reducing the need for discounting releasing much-needed cash back into the business.

  • Accurate forecasting means accurate planning not just of goods, but of other business functions from marketing to staff on the floor in your warehouse, reducing labour costs, especially of agency staff.

  • A better forecast means better planning and more efficiency; less cash on fuel, landfill, energy and running costs along with less discontinued or obsolete stock tying up precious working capital.

  • Accurate forecasting will help you to understand and predict when physical capacity might be breached – MHE, floor space, bay doors – as well as better planning other operations such as staffing and transport.

  • Implementing the right review processes will generate alignment across all core business functions, set clear forecasts without bias, and provide the forum to discuss challenges and how best to overcome them.

It’s estimated that operational costs can be improved by 2%-4% by simply removing avoidable error. In addition, it’s possible to reduce inventory holding by 30%-50% through better demand planning.

- The Little Book of Operational Forecasting, Dr Simon Morlidge

Supply Chain and Logistics Consultants

Why outsource with Hatmill?

Years of forecasting experience

Clients choose to outsource their demand forecast capabilities with us because we have years of experience in supply chain and logistics management. We believe that strategic planning is the key to creating a better service and making your operation as efficient and agile as possible.

Access to our experts

Demand forecasting is a rare skillset, and few companies get it right in-house. Not only do we give you access to our UK-based demand, supply chain and logistics team, but our demand planning models are built on proven algorithms that improve accuracy.

Less distraction

At Hatmill, we do all of the heavy lifting. We take the task of forecasting off your hands, so your teams can get on with the job at hand. This means that MDs have more time to run the business, finance teams can focus on critical issues, and sales can allocate their time more effectively.

Cost effective, flexible solution

Our pricing plan is both cost-effective and flexible, and clients find it an attractive option when weighed up against the costs of recruiting in-house staff, or investing in expensive demand planning software.

Read More about Karl-Eric Devaux

Karl-Eric Devaux

Read More about Matt Hill

Matt Hill

Read More about Liam Lindley

Liam Lindley

Read More about Harry Muller

Harry Muller

By outsourcing their demand forecasting to Hatmill, one client reduced the amount of time spent by their teams on forecasts by 94%.
What could we do for you?

Virtual demand forecasting can help you…

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Save money and time

Inaccurate forecasts lead to excess inventory, lost sales, and also wasted man hours. Our demand planning analysts can help you streamline and improve efficiency, saving you both time and money.

Create meaningful forecasts

In sales forecasting, the old way of working simply isn’t reliable enough. As a result, data is not trusted by management and doesn’t hold much weight in decision-making. Our demand forecasting approach is designed to solve this issue, giving you numbers that you can rely on.

Spot trends and stay agile

In order to survive in today’s volatile market conditions, dependable sales forecasts are vital. As well as delivering accurate forecasts, we also help you spot key trends and patterns as they arise. This gives you actionable data to make smart business choices going forward.

Delight your customers

Not being able to fulfil orders can be detrimental to customer loyalty. With reliable demand predictions, you can create a great customer experience, increase retention, and build lasting relationships.

  • Without hesitation I would recommend Hatmill for their pragmatism, their skill and knowledge, and their ability to challenge and bring about change for the better.

    - Managing Director, Homewares & Accessories supplier

  • Hatmill’s ability to keep the project on track and the team focussed enabled us to complete the complex transition from two warehouses to a single new site ahead of schedule.

    - Group Operations Director, A leading specialist technology distributor

Supply Chain and Logistics Consultants

Our Approach

At Hatmill, we take the forecasting burden away from your business so your teams can focus on the most important aspects of their jobs. To do this, it’s paramount that we learn as much about you from the start so we can give you the best possible service. Here are the steps we take to deliver demand and sales forecasts to your team:

  • 1/ Discovery

    During this early phase, we will assess your existing systems and processes, and look at the ways we can deliver value to your business. Our experienced consultants use collaborative ways of working to extract key information from marketing, sales, finance and supply chain teams. This ensures that we are able to align what we do with your business goals and objectives.

  • 2/ Data analysis

    We extract both historical and current data to build a robust and dependable way of predicting demand. And we combine all demand forecast learnings with the unique skills of our analysts, our proven methodology, and our advanced tools and algorithms.

  • 3/ Stress testing

    One of our core focus areas is stress testing. We do this on a monthly cycle, testing for seasonal variations and bias. By interrogating data for unseen trends and patterns, we can help you forecast more accurately for the future.

  • 4/ Data comparison

    In order to learn more about real customer behaviour, it’s important to regularly compare forecasts to actual demand. By looking at any disparities and reviewing data, we can pick up on patterns and get a clearer picture of how your customers shop.

  • 5/ Recommendations

    Actionable data is one of the best outcomes of using our virtual demand forecast service. We don’t just deliver a bunch of numbers. We are commercially minded in our approach and make real-life recommendations that you can implement for measurable business improvements.

Ideas & Insights

Related Insights

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