How eMoksha helped a Steel Fabricator/Distributor
resolve its demand forecasting challenges
eMoksha was approached by Lyman Steel, leading steel fabricator/distribution company that was growing rapidly. The company was facing several challenges in the demand planning processes and customer order fulfillment
Challenges
- Demand forecasting process was error-prone and required lots of manual input
- The analysis function was performed in excel sheets, involving gut feeling and dependence on the staff experience resulting in stockouts and customer frustration
- The post-pandemic supply chain volatility and market conditions were rendering manual processes ineffective
- The window to place an order with suppliers was drastically cut and these manual processes simply could not keep up with the timeline and volume of data
Solution
Our demand prediction-based order recommender system precisely predicts and gives recommendations by leveraging 12-36 months’ worth of historical customer orders, inventory, and supplier orders from the client ERP system. The recommender algorithm provides a push-button answer to the demand forecasting problem.
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Outcome
- The solutions resulted in significant time and effort savings for the client. The overall time to plan supplier orders was cutdown from two (2) weeks to 30 minutes.
- Client gained significant market share while its competitors did not proactively plan for post-covid changing market conditions regarding lead times and product demand
- The entire process has been automated where client just needs to click on a button resulting in complete automation of the entire supplier ordering process
- 32% reduction in stockout levels
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eMoksha Demand Planning service has completely transformed how we order steel. A tedious and frustrating process that used to take days with pouring over excel files, purchase orders and not to mention the ‘gut’ feel of warehouse staff is now a point-and-click, 30-minute exercise with pinpoint accuracy. We are saving so much money, time, and effort with the Demand Planning service.
Melissa Supler
Chief Operating Officer, Lyman Steel
Want to know more about our demand planning?
eMoksha Demand Planning is a cloud-based service that utilizes AI algorithms, machine learning, and historical data to predict future inventory needs of steel distributors based on demand history, seasonality, and steel mill order cycles.
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