Optimizing procurement planning for the food industry Improving forecasting to ensure that ingredient levels are correct, to meet demand and avoid waste.
Datacurate achieved this using · SAS Viya® · SAS Data Explorer · SAS Visual Analytics · SAS Studio · SAS Graph Builder · Model Studio
Challenge
Food companies such as restaurants and takeaways run on fine margins.
- They need to have sufficient ingredients available to meet demand, including on busy occasions.
- They also want to avoid waste from over-stocking.
- It is therefore important to be able to identify what ingredients to purchase, in what quantities, and when.
Innovation
This solution uses SAS® Viya® to forecast demand and improve procurement decisions based on historical patterns.
Datacurate:
- Used two years’ worth of data from 30 pizza stores, across 13 varieties of pizza with 28 different ingredients.
- Analyzed store-level sales, promotions and seasonal trends.
- Built a model to optimize procurement decisions, using future ingredient prices, warehousing costs, and shelf life, coupled with demand information.
Impact
The Datacurate solution will enable pizza stores to improve their procurement decisions.
- It will facilitate more informed buying decisions including timing and quantities.
- Stores should be able to avoid both running out of stock and wasting any ingredients, particularly those with a very defined shelf-life.
- The model could be used for other food industry outlets, including restaurants and takeaways.
“The company can ensure efficient operations and minimal waste.”
Royson Almeida · Team Leader · Datacurate
| Team Name |
Datacurate |
| Track |
Retail |
| Use Case |
Procurement planning involves determining which ingredients to buy, the optimal time for purchasing, and the precise quantities needed to meet anticipated demand efficiently. It aims to minimize costs and reduce waste while ensuring timely availability of ingredients. By analyzing forecasted demand, shelf life, storage costs, and market prices, procurement planning helps maintain a balance between cost-efficiency and sufficient stock levels. |
| Technology |
SAS Viya |
| Region |
Mumbai, India |
| Team lead |
Royson Almeida @Roy_A_9 |
| Team members |
Anagha Khanna @AK_17
Rohit Saigaonkar @Rohit_45
|
| Social media handles |
https://in.linkedin.com/in/royson-almeida-b8290a187
https://in.linkedin.com/in/dr-anagha-khanna-360a52201
https://in.linkedin.com/in/rohit-saigaonkar-bb72a41b9
|
| Is your team interested in participating in an interview? |
Y |
| Optional: Expand on your technology expertise |
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Procurement Planning for Food Industry Pitch Video:
Procurement Planning for Food Industry Jury Video:
