P&G Vgrow Summit 2019 - Best Idea Winner for Automation in Forecasting

Team NextOrbit won the “Best Idea Winner” award at the P&G vGrow summit - Biz Arena 2019 for the solution proposed to address the challenges in terms of Automation in Forecasting.

Kishore Rajpgopal
Kishore Rajpgopal
Founder & CEO

A demanding due-diligence  followed – a presentation, demo, Q&A and followed by a face to face intense discussion and Q&A on 28 Nov 2019.  We competed against 32 start-ups.  And we faced off with a major Retail merchandize platform in the runners-up. Out of 32 applicants NextOrbit got selected by proposing a very straightforward and effective solution which impressed the Senior leadership at P&G.

We have a detailed eye when we try to solve Demand Forecasting and Price Optimization which helped us to win the Best Idea Winner. Here are a few intricate questions we handled,

  1. How do you account for the unseen event and how does your solution work on the same?
  2. Does the solution work both top-down and bottom-up way?
  3. Do you need to develop models for each granular level?
  4. What mechanism do you have to handle product discontinuation and launch of a new product to substitute that space? 
  5. With SKU_ID does not uniform across different stages of business, what approach would you suggest to uniform them
  6. Not just customer payable price will affect demand but Margin to distributor/sites/ e-commerce /  Major retailers would affect. How do you account for these signals?
  7. Please detail more on various cannibalization aspects and what statistical measures do you need to create as an indicator?

 

 

 

Published on Dec. 3, 2019





































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Pain Problems to Solve

Select 3 problems

Over Stock
Product Expiration
Out of Stock
Innefficiant planning for growth opportunities
Leaving money on the table Due to Improper Markdown
Cant Figure out latent Demand
What more merchandise could sell
Food Wastage
Not Responding Speedily to fashion Trends
Over Exposure to Competitor Pricing

Benefit Expected

Select Top one or two

Better Full Price sell through (Less Discounting)
Higher OSA (on shelf Availability)
Higher Inventory Turns
Lower Store or DC inventory
Higher Basket Sizes
Higher Customer Loyality (More Repeat visits)
More Effective Planning