ABG’s automated demand forecasting solution drives efficiency in one of the World’s Largest Oil Corporation
Identifying gaps to address through ABG’s intervention:
The leading petroleum and natural gas corporation required support to address its challenges, which included:
Resolving the concern with ABG Solution
SAS Demand-Driven Planning and Optimisation solution
ABG is in the process of implementing SAS Demand-Driven Planning and Optimisation solution to automate demand forecasting system, which will project demand for its domestic liquid hydrocarbon at multiple hierarchy levels—across products, customers and locations. Through this intervention, ABG aims to deliver the target of average forecast accuracy at rolled up levels, which is greater than 90%.
The solution enables forecasting to be done on daily, weekly and monthly intervals at various time horizons. Furthermore, to factor in seasonality, the solution further enables highly accurate and reliable forecast through multiple demand influencing factors, including:
• Variety of internal and external explanatory variables such as price, weather, macro-economic factors, etc.
• Multiple events such as temporary/permanent suspension of plant supplies, holidays, etc.
• Demand diversion and other automated data treatments
The solution’s accurate and reliable forecast improves the oil corporation’s capability to perform scenario analysis. This allows the client to understand the sensitivities and impacts of various demand influencing factors on future demand.
Aiming to achieve scalable business outcomes through ABG solutions
While the implementation of ABG Solution is underway at the petroleum and natural gas corporation, the solution has enabled to foster results as below:
Ensuring cost efficiency through improved supply chain management
Scalable and systemic forecasting process to secure analytical insights through standardising the solutions
Building team efficiency on analytical work for qualitative outcomes