Orchestro Launches NextCast to Cater Retailers in Optimizing Demand
BETHESDA, MD: Orchestro, the provider of purposely built demand signal repository announces the launch of Tango, a demand signal management platform, along with NextCast, a highly anticipated algorithm to minimize forecast error. The Tango platform helps companies in managing their data harmonization process through new application provided by this latest launch which drives operational planning activities as well as ensures high level of accuracy in sales. “With the help of Tango platform, organizations can orchestrate data between internal silos with their retail partners, in-store and online sales, demand and supply for enabling higher inventory turnover,” says PV Boccasam, CEO, Orchestro. The Tango platform, integrates NextCast which enables companies to determine which forecast to use for a particular item-store-week.
The NextCast tests conducted have shown significant forecast precisions of 74 percent, which overshadows the earlier industry standards of forecast errors of 20 percent to 50 percent. Along with NextCast, comes another innovation, ‘Cues’ which is also included in the Tango Platform but earlier was the part of Tango Science suite of applications. ‘Cues’ incorporates the capability of alerting which is then triggered through user-defined business rules. This in-turn helps companies in minimizing service-level disruptions in-store. “With retailers and consumer goods companies continuing to depend on high-error forecasts to manage their collaborative activities, NextCast will now bring a new level of accurate demand visibility for organizations to align around internally, as well as with their external operational execution partners,” says Boccasam.