Royal Mint has secured its forecast accuracy and enhanced customer service, with the deployment of Optimiza Demand Planner software from Barloworld Supply Chain Software.
"The primary objective in the Royal Mint's implementation of Optimiza Demand Planner software was to find a tool with the capability to improve accuracy and customer service" explains David Janczewski, Head of Strategic Intelligence at the Royal Mint. "Prior to implementing the Optimiza software, the Royal Mint logistics operation did not possess the necessary statistical analysis tools required for forecasting more accurately."
Optimiza Demand Planner (ODP), from Barloworld Supply Chain Software (SCS), is an advanced demand planning application, designed to enable an organisation to build and maintain an accurate demand forecast within their business.
"ODP is a tool designed to give demand planners an early and accurate view of future sales plans, booked orders and demand forecasts, allowing rapid and effective decision-making" explains Colin Ward, Managing Consultant for Barloworld SCS. "Companies can typically expect a 15-20% improvement in forecast accuracy."
ODP has the ability to define multiple hierarchies, which allows the organisation to view data by different channels, using product segmentations. Dynamic profiling, the ability to forecast products with limited sales quantities (MALs) and the ability to incorporate the effects of future promotions in different channels at different times are features that help to enhance the flexibility of an operation.
User friendly and straightforward dashboard presentation provides a summary overview in a simple, visible format. The software also provides the user with a detailed breakdown of various price projections including gross profit and time-phased price modelling around these.
"We interviewed six suppliers of inventory software and our decision was made based on the quality of the Barloworld brand name and the high level of confidence we had in the package. The Optimiza Demand Planner software met our initial needs and is presented in a visible, easy to view and comprehensible format." says David Janczewski, adding that the installation of ODP was smooth and straightforward in comparison to other software products he has experienced.
The Royal Mint makes coins and medals for an average of 60 countries every year, with a primary responsibility to make and distribute United Kingdom coins and supply blanks and official medals. The Royal mint is a government owned company, with more than 1,000 years of experience and is planning for organic growth and sustainable profits.
Barloworld Supply Chain Software is a leading global supply chain planning company, providing expertise, tools and solutions to help companies optimise their supply chain networks, inventory and transportation.