AI-powered retail demand
planning for LS Central

Stock the optimal assortment at the right levels of inventory
using the insights of machine learning

LS Forecast

Take the scientific approach to inventory planning

LS Forecast is the cloud-based inventory optimization software for LS Central. LS Forecast uses Microsoft’s Cortana Intelligence Suite to predict what stock you’ll need to purchase and transfer to your store locations, so you can maximize your sales and minimize out of stocks.

LS Forecast analyzes your past sales to identify trends and detect seasonality and correlations. The solution then selects the algorithm that best fits the data to calculate future sales demand for specific items, variants (for example sizes or colors) and store locations, on a daily or weekly basis, depending on the desired level of detail.

LS Forecast is available for retailers using LS Central for retail and LS Insight.

 

AI-based demand forecasting for your LS Central

LS Central already offers a number of manual and automatic stock replenishment methods. LS Forecast is an extra calculation method you can use within LS Central to predict demand. LS Forecast differs from the other methods because it leverages advanced algorithms in Microsoft Azure to give you more accurate sales forecasts. LS Forecast analyses your sales history, finds trends, predicts the most likely future, and suggests quantities for transfer orders and/or purchase orders that maximize profit and minimize cost and overstock.

Use predictive analytics without hiring a data scientist

You don’t need more technical resources like data scientists to interpret and use your data. LS Forecast is a turnkey solution that enables any retailer to put their data to use, no prior expertise required. Give LS Forecast access to your data by uploading your sales history to LS Insight, and let the AI analyze the time series, pin-point patterns, apply the mathematical model that fits the data best, and give you the most likely sales prediction.

Subscribe monthly and pay per use

LS Forecast is a cloud-based, Software as a Service (SaaS) solution only available on subscription.  You pay based on consumption, and the fee is based on the number of calculations for your items and locations within one month. How much you pay is up to you: you can start small with a few items and add more on the go. To limit waste and extra costs, you can set a monthly cap for LS Forecast calculations in LS Central and easily monitor usage. Once your set threshold is reached, the system will warn you, and based on setting it can fall back to the traditional LS Central automated replenishment methods like Average Usage.

Better forecasts with zero effort

Data is among your most valuable resources, but the more data you have, the harder it gets to spot buying patterns and trends. With LS Forecast you can transform your data into knowledge with no effort, and without needing to add more resources to the team.

You can keep on guessing what items and quantities you should buy – or you can upload your information and let the intelligent automations do the job for you, faster and better. Here’s how it works.

1. Set up LS Forecast

We take care of the cloud part: we set up your personal, secure LS Forecast instance on Azure and give you the access credentials.

If you are already using LS Central with automatic replenishment and LS Insight, you only need to log in and define which items and store locations you want to forecast.

Just a day of work, and you are ready to go.

2. Upload your sales history and setup

Upload your sales history to LS Insight, our data hub in the cloud where LS Forecast can easily access it. We support incremental loading, so after the first upload of the entire sales history, the system will only need to upload the new data since the last upload run. LS Central synchronizes setup changes (items, store locations) to LS Forecast directly using web services.  The entire data management can be manual, or you can fully automate it with scheduled jobs.

3. Let the system detect trends and download results

LS Forecast analyzes your sales history, detects what statistical model best explains the data, and applies it to create the likeliest forecast. LS Forecast selects among a set of Blended methods and ARIMA models. The system also detects out of stock situations, and interpolates trends. The calculation process and download of the results is managed by LS Central with web services, and the downloaded forecast is stored in LS Central.

4. View graphically

Get a visual overview of how the forecast compares with your sales history.

View the forecast on a chart in LS Central which also shows your historical time series and clearly pinpoints trends and seasonality effects.

5. Check quality of forecast

The quality of a forecast depends on the quality of the data.

The system calculates a forecast quality KPI and rates each forecast within three quality categories (good, medium, or poor), so you can quickly evaluate its reliability before you make a purchase or transfer order.

6. Decide frequency and level of detail

For what items do you want to run LS Forecast? Should the forecasts be daily or weekly?

You can decide how to use your resources, and set different parameters per items and per locations, depending on your priorities and requirements.

7. Keep costs under control

Thanks to a usage monitoring window, you can always keep track of how many calculations you have left.

You can also set a calculation cap, and decide how the system should behave when the threshold is reached.

1. Set up LS Forecast

We take care of the cloud part: we set up your personal, secure LS Forecast instance on Azure and give you the access credentials.

If you are already using LS Central with automatic replenishment and LS Insight, you only need to log in and define which items and store locations you want to forecast.

Just a day of work, and you are ready to go.

2. Upload your sales history and setup

Upload your sales history to LS Insight, our data hub in the cloud where LS Forecast can easily access it. We support incremental loading, so after the first upload of the entire sales history, the system will only need to upload the new data since the last upload run. LS Central synchronizes setup changes (items, store locations) to LS Forecast directly using web services.  The entire data management can be manual, or you can fully automate it with scheduled jobs.

3. Let the system detect trends and download results

LS Forecast analyzes your sales history, detects what statistical model best explains the data, and applies it to create the likeliest forecast. LS Forecast selects among a set of Blended methods and ARIMA models. The system also detects out of stock situations, and interpolates trends. The calculation process and download of the results is managed by LS Central with web services, and the downloaded forecast is stored in LS Central.

4. View graphically

Get a visual overview of how the forecast compares with your sales history.

View the forecast on a chart in LS Central which also shows your historical time series and clearly pinpoints trends and seasonality effects.

5. Check quality of forecast

The quality of a forecast depends on the quality of the data.

The system calculates a forecast quality KPI and rates each forecast within three quality categories (good, medium, or poor), so you can quickly evaluate its reliability before you make a purchase or transfer order.

6. Decide frequency and level of detail

For what items do you want to run LS Forecast? Should the forecasts be daily or weekly?

You can decide how to use your resources, and set different parameters per items and per locations, depending on your priorities and requirements.

7. Keep costs under control

Thanks to a usage monitoring window, you can always keep track of how many calculations you have left.

You can also set a calculation cap, and decide how the system should behave when the threshold is reached.

You have questions, we have answers

Choosing the right business management software for your retail stores, whether big or small, can be an overwhelming experience,
but we are here to help and assist you in answering your questions. Just contact us!

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