Bekaert improves market intelligence with leading indicator forecasting

Objectives

The objective of working with Solventure LIFe is mainly driven with the focus on improving the current insights in the market and validating those insights quantitatively. Next to quantifying qualitative results, there was also the desire to improve the forecast accuracy on the tactical forecasting horizon.

Currently the process to build the sales forecast is a  bottom up: It consist of a consolidation of the sales  and supply chain teams, resulting in a forecast 3 months out. The marketing team then adjusts the forecast based on the market & strategic forecast.

Name: Bekaert

Location: Zwevegem, Belgium

Industry: Automotive, Construction

Bekaert : Transforming steel wire and applying advanced coating know-how. Improving both the bulk and surface properties of steel wire products since almost 140 years.

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“The approach has revealed new indicators and we are excited to test and see the forecasting power on the longer term horizon. Solventure LIFe, with their leading indicator solution, can give us inspiration and guidance in improving our sales forecast.” – Rebekah Cui, Marketing Manager @ Bekaert

Benefits

  • Improved business insights to help us better understand and forecast the market evolution.
  • Leading indicators for different regions and product groups.
  • Strategic value of extended market intelligence.
  • Possibility to tap into external big data.
  • Support & guidance in providing a more accurate sales forecast.

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