Planning & Forecasting
The best forecasting fuels the best planning and execution. With an accurate projection of upcoming demand across all departments and robust budgeting and inventory solutions, you are positioned to stay on plan to reduce costs, maximize revenue and optimize profitability. While we support reforecasting and schedule revision after posting, our objective is to get it right the first time and minimize the need for corrections at all. Our tools are designed to do just that.
Create accurate annual sales and labor budgets and easily manage changes during the year in progress.
Planning is not a one-time event. It typically starts with an “annual budget,” but is that budget still your game plan as the weeks and months pass by? We consider budgeting to be an iterative process, whether that moves from annual to period or seasonal plans, to the weekly forecasting and staffing—or perhaps your company prefers a rolling number of periods or quarters.
Your annual budget offers essential planning opportunities to align all aspects of the company around shared goals for sales and expenses—with the most important expense being the cost of labor. Logile Budgeting leverages our Forecasting and Enterprise Labor Model solutions as the foundation to drive an accurate budget calculation. Our superior machine-learning forecasting algorithms enable you to create an accurate sales and labor budget, complete with all the adjustment and average rate modeling you foresee for the upcoming year. But that’s just the start. Keep your operating goals aligned with those annual goals by reforecasting and replanning each period as time goes by. Logile Budgeting makes this easy and enables you to reposition planned activities (remodels, new stores, merchandising programs, etc.) as the year unfolds. This process keeps your labor model aligned with your financial objectives and provides stores with the resources they need and earn for each week’s business.
Budget without compromise
Iterative planning refinements keep your labor model aligned with key goals, annual budget, period plan, and weekly forecast and schedule. This process helps ensure both labor model alignment with annual financial objectives and provides stores with the resources they need and earn for each week’s business.
Logile Budgeting creates an effective sales and labor budget with all the necessary components built into one system. Use store-specific data and store-specific standards to develop the most accurate forecast of sales and corresponding labor needs by week, by department using a bottom-up methodology. Benefit from significant process advancements and guided workflows to manage the budget through multiple iterations or what-if scenarios. Once an annual budget is created, these iterations become the basis for nearer-term planning by season, quarter or period. Update objectives to make up for any shortfalls in sales or overspends on labor.
Capture critical inputs and track performance
Gain the flexibility to handle events and adjustments within your business as well as events like competitor openings or closures—and move these adjustments as plans or developments change. A robust process for budgeting average hourly rates (AHR) provides the key to translating budgeted hours into budgeted payroll dollars. And the KPI dashboard makes tracking progress a snap. Analyze budget results and compare to other versions, or even last year actuals down to a sub-department and weekly level by store.
- Produce weekly, by department, annual sales and labor budgets which inform quarterly or period plan revisions through the year
- Manage the steps of the process all within one system in a highly collaborative process enabling multiple iterations
- Document shared assumptions for all planning stakeholders
- Create sales and volume forecasts using advanced machine-learning algorithms
- Calculate labor using current and/or effective-dated standards that reflect planned changes in the coming year
- Apply allowances and staffing modeling using the same logic used in weekly labor calculation
- Layer project and program impacts such as new stores, remodels, competitive impacts and new program introductions
- Understand the labor impact of each layered version you create
- Model wage rates with functionality to normalize anomalies from history, apply new minimum rates, and model step increases as desired
- View dashboard status of the budget in progress
- Create accurate budgets that allow stores to build sales and deliver your brand to all customers
Sales & Metric Forecasting
Get smart, automated, consistently accurate forecasting at the metric level across your business.
Forecasting impacts critical business areas, including labor budgets, customer service, promotions and employee schedules. When the forecast is off, it affects your store managers’ ability to adhere to plans and budgets and can impact productivity, service and sales. Real-time forecast accuracy is not only critical—it is imperative.
The best forecasting provides incredible accuracy that is consistently reliable over time. This requires an intelligent system that analyzes and accounts for metrics like sales, SKU, and individual and consolidated UPCs to support granular forecasting across the retail chain. Our Forecasting solution delivers all of this—automatically.
Just the highlights: Why Logile Forecasting?
- The industry’s best forecast accuracy: 95% on daily items and sales for all but the smallest departments
- AI-driven, machine-learning forecasting using dozens of industry-leading and Logile-proprietary algorithms to forecast every metric
- Event/data tagging and cross-comprehensive forecast granularity at the 15-minute, task level
- Continuous reforecasting
- Forecast accuracy improvements of 15-25% for your business
Get the power of unparalleled AI and self-learning automation
In every head-to-head evaluation, our forecast accuracy has consistently outperformed the competition. Our best-practice approaches to 15-minute interval forecasting and demand planning enable superior service coverage for your front end and other customer service functions.
- Extremely accurate, reliable forecast delivered in a completely automated workflow requiring little or no manual intervention
- Goes well beyond methods like moving averages and exponential smoothing and includes recent advances in statistical learning and pattern recognition
- Self-learning AI constantly reviews and changes algorithms as needed over time for each element in each store, based on what is proven to be the most accurate and reliable method
- Each forecast metric in each store may use a different algorithm based on statistical accuracy in individual stores
- Enables precision scheduling that delivers your service and queuing standards with minimal waste
- Allows use of “sister-store” data for new or remodeled stores if needed
- Unique forecasting approach can be shared across your different departments and loyalty marketing to understand customer and item volumes by time of day—as forecasted from department interval POS data
Better capabilities for better results
Benefit from extensive data/event tagging to appropriately influence selection of specific history for enhanced accuracy. You can programmatically automate data tagging for weather specific to each store’s zip code, and leverage detailed promotional tagging for enhanced UPC-level forecasting.
Gain renewed advantage at your front end. Customize queueing service standards by day and time of day or for not busy, busy or extremely busy times in your forecast. And with detailed POS volume data, you are enabled to accurately forecast express, regular and self-checkout volumes for dynamic, interval-specific use of store-specific labor standards for item processing and tendering by method. Optimize throughput, shorten customer queues, and improve customer satisfaction through better scheduling. If your current system misses the mark on peak express volumes like busy lunch rushes, you will see the positive difference in Logile’s approach.
- Creates highly accurate sales and volume forecasts at weekly, daily department and interval levels
- Leverages a library of industry-typical and proprietary machine-learning algorithms
- Layers in defined events and holidays including accurate transposition of moving holidays
- Supports automated tagging for weather, promotional planning and other data sources
- Analyzes the performance of each algorithm and selects the best algorithm to use for forecasting each metric in each store
- Weekly forecasting occurs in a highly automated workflow
- System forecast is saved for analysis and comparison with store-edited forecast
- Forecast editing allows for adjustments by corporate or store manager
- Forecast accuracy analysis and workbench
- Enables stores to trust the system and focus on store execution
Get the ultimate, complete solution for advanced store inventory planning and optimization.
Inventory management is about having the right product, in the right location, in the right quantity, at the right time, with the right merchandising standards for customer satisfaction.
Logile’s unique solution delivers a complete inventory management ecosystem focused on the store, from configuration and training, to stock management, to ordering and fulfillment. Optimize the last leg of supply chain execution with a seamless system designed for store-level usability and powered by Logile’s industry-leading forecasting accuracy—the heart of efficient inventory replenishment.
Just the highlights: Why Logile Inventory Management?
- Unifies forecasting across business units to align and optimize labor and inventory
- Manages on-hand perpetual inventory for all products in real time
- Delivers breakthrough forecast accuracy with layered forecasting, bottom-up item-level forecasting, and top-down reconciliation with category and sub-category forecasts
- Creates a unified platform for all components of fresh item production planning, recipe management, nutritional management, batching, batch sequencing and production fulfillment with food safety compliance
- Enables computer assisted ordering (CAO) or computer generated ordering (CGO) for both perishable and dry goods
- Integrates and optimizes all systems impacting inventory management within the store
- Features advanced system design including:
- Yield-based algorithms focused on optimizing inventory cost while improving product freshness and inventory turns
- Big data architecture for superior response and processing time
- Insightful dashboard performance analytics
- Optimizes on-hand inventory
- Delivers real-time inventory visibility to support e-ordering and fulfillment
- Reduces labor handling of excess inventory
- Decreases shrink
- Improves product freshness
- Increases inventory turns
- Reduces out of stocks
- Increases customer satisfaction and loyalty
- Automates store ordering
- Provides BI for assortment planning, category management, space, price and promotional optimization
- Reduces backroom inventory and handling costs
- Reinforces store-level best practices
- Improves cash flow and capital utilization from less inventory