The Container Store Racks Up Robust Forecasting and Store Replenishment Planning
With locations coast to coast, The Container Store® has 39 locations in 18 markets. The Container Store has been ranked by Fortune Magazine as one of the top 100 companies to work for each of the last five years.
The Container Store needed to replace its store replenishment application with an accurate and easy-to-use sales forecast system. The project’s objective was to increase customer service, decrease inventory, increase inventory turns and develop a process to meet its vendors’ requests for reliable forecasts. The Container Store did not have formal forecasting processes in place at that time. The company wanted a solution that could be smoothly integrated into its buyer’s work processes, required limited IS recourses, and could produce an accurate forecast at the SKU-Week level. This required a solution that was robust with strong statistical forecast methods.
The Container Store started enhancing its forecasting and replenishment process with John Galt Solutions’ ForecastX Wizard, an Excel add-in that enabled the buyers and planners to develop the processes needed to forecast accurately for demand and promotional modeling. The training, robust forecasting capability, and ease-of-use of ForecastX led The Container Store to quickly realize that a database solution would be its best solution.
The Demand Management Engine, part of the John Galt Atlas Planning Suite, would best meet the needs of the buyers and planners. “With our business requirement to forecast at the SKU-Week level and to gain efficiencies, we quickly moved to the Demand Management Engine,” said Beth Gonzales at The Container Store’s Dallas headquarters. “With John Galt, we have the ability to integrate multiple components and customize the forecast solution for The Container Store.”
The Demand Management Engine offers more than 40 statistical forecasting methods that not only support The Container Store’s core products, but also the seasonal business – while being fully automated.