JEDOX SUCCESS STORY · MANUFACTURING
Mitsui increases forecast accuracy with AI and Predictive Analytics
Mitsui Chemicals Europe replaced complex SQL, Access and Excel planning with Jedox in 2017, then piloted Jedox’s AI Predictive Forecast module for a 12-month rolling sales forecast. Within a few months it reached 95% forecast accuracy for several product groups.
95%
sales forecast accuracy for several product groups
12-month
rolling AI sales forecast
About Mitsui Chemicals Europe
Mitsui Chemicals Europe was founded in 1997 as a subsidiary of Mitsui Chemicals Inc. of Japan. The company manufactures, sells and markets chemical products for the automotive, food and packaging, and healthcare sectors. Its Performance Controlling department has run sales planning in Jedox since 2017, working with partner HighCoordination.
Challenge
Planning had become too complex
Mitsui’s planning relied on Microsoft SQL, Access and Excel, a combination that had become too complex. In 2017 the Performance Controlling department, working with Jedox partner HighCoordination, adopted a Jedox planning solution that simplified and sped up sales planning and made it easier to adapt to market changes.
To go further on forecast accuracy, the team decided to pilot the Jedox AI module Predictive Forecast for a 12-month rolling sales forecast.
Solution
Piloting AI predictive forecasting
The pilot used Jedox’s standard AI model, which produces initial reports and sales evaluations, with forecasts detailed by product group, SKU, customer, material and region.
Jedox recommends at least three years of historical data, but Mitsui initially had only 1.5 years. It used Jedox Integrator to bring in legacy SAP data and optimised its data cubes for quality and performance.
Mitsui increases forecast accuracy with AI and Predictive Analytics
Mitsui Chemicals Europe
Outcome
95% sales forecast accuracy
After a few months of the pilot, sales forecast accuracy reached 95% for several product groups.
AI predictions run alongside manual forecasts so planners can compare them automatically, building trust in the AI and moving towards more automated forecasting. The Jedox in-memory engine supports granular planning, such as spreading values to individual customers and materials, and aggregating data across hierarchy levels.
Jedox in use at Mitsui Chemicals Europe
- Sales planning
- AIssisted Planning – Predictive Forecast
- Jedox Integrator
- In-memory engine
- SAP integration
Read more Jedox success stories, see how Jedox supports manufacturing finance teams, or find out about Jedox implementation in the UK & Ireland.
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