New Horizon Differentiations in Demand Planning
Wondering how to best forecast during and post COVID-19 period? Look no further. New Horizon has developed innovative forecasting approaches using AI and Machine Learning technology. This improves the forecast accuracy during and post COVID-19. The algorithms have been successfully implemented in multiple clients. New Horizon offers the best of breed demand planning solutions to meet your business needs. We’ve proven ourselves that New Horizon produces better forecast accuracy than some leading tier-one demand management software in the market
Typical business benefits of our Demand Planning System include:
- Extremely High Accuracy: Uses machine learning and AI technology including Prophet, backed by Facebook. Increases forecast accuracy by up to 15%
- Easy to Use. Excel-like user interface allows user to easily manipulate data and identify exceptions
- Automatic Clustering: System automatically clusters products based on sales volumes, margins, volatility, seasonality or other attributes so user can focus on critical items forecasting and exception management
- Day-in-life templates. Templates built for different industries to speed up implementation and improve operation efficiency
- Forecast during and post COVID-19: System uses AI technology to improve forecast accuracy during and post COVID-19
The wide majority of demand planning software on the market utilizes traditional standard statistical algorithms. In general, that’s fine, but it’s not agile, it’s not innovative, it’s not robust and it does not work well during our current pandemic situation.
New Horizon Demand Planning Software uses the absolute latest technology and most sophisticated algorithms to support your demand planning processes. Incorporating traditional statistical forecasting with elevated models like ARIMA and the freshest machine learning algorithms, including Prophet by Facebook.
Our skilled innovators have enhanced Prophet by placing various adjustments on it for various industries. The system will then automatically select the best fit for your business using AI technology, ensuring you’re getting the highest forecast accuracy that can be achieved.
Prophet is also used in many applications across Facebook for producing reliable forecasts for planning and goal setting. Facebook and the software leaders there have found this tool to be the most reliable on the market. We have the know-how to make this powerful tool work for your Demand Planning needs.
Here is a testimony from Faribault Foods on New Horizon and Demantra.
Below table shows a comparison between New Horizon and Industry leading forecasting tool Oracle Demantra.
|Category||Oracle Demantra||New Horizon Demand Planning|
|Forecasting Algorithm||Demantra uses traditional statistical forecasting algorithms||New Horizon uses latest technology including Prophet by Facebook as well as traditional technology|
|Statistical Forecast Engine Tuning||Need a special trained resource to do that||User can tune themselves|
|ABC rank calculation||Need customization||Out-of-box automatic calculation|
|Deployment model||On premise only||On premise or Software as a Service (SaaS)
|Ease of Use||Relatively low. Finding an item in the worksheet takes many clicks||High. Like Excel Pivotal table. Easy filter through column header or search|
|Performance||Demantra has performance issues when data volume is high||New Horizon is tens of times faster than Demantra|