How to improve forecasting and performance assessment as a food retailer?

Background

A national UK retailer willing to organise their 3,000+ locations into manageable groupings to have a reliable forecasting and performance measurement for coming new store openings.

Challenges

Over 20 years, while systems and processes were being developed internally, over 60 seasonal cluster classifications for the stores had built up to the point where it was unworkably complex. In order to track how new stores were performing the relevant teams required accurate budget phasing which took seasonal fluctuations into account and weekly tracking reports.

Keywords

Clustering, Performance Tracker, Forecast Tracker

Datasets

TO, Basket Size, Transaction

Analysis

Forecasting

INDUSTRIES

Retail

Solution

Thanks to CII analytic capabilities, cluster groups covering all geographic areas simplified, location types and formats were developed. Interactive charts were produced for all trading stores, highlighting store growth, seasonal fluctuations and volatile/non- standard effects. As an enterprise customer, company get periodic consulting services. As a result, a weekly phasing new store budgeting calculator was delivered, for the next five years. A weekly actual versus forecast tracker was introduced and is produced by the client team for senior management.

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