Lokad Launches Version 4.0 of Sales Forecasting Technology
Inventory optimization tool Lokad has released the latest generation of its sales forecasting technology.
Lokad's "fourth generation" of forecasting technology, which they call a probabilistic forecasting engine, is now available for all Lokad clients. The new engine is a complete rewrite of their forecasting technology stack, and addresses many long-standing challenges they were facing.
The previous quantile forecasting engine had subtle limitations that are addressed in the new version. The new algorithms provide improvements in:
- Lead time forecasting.
- Integrated demand forecasting.
- New products forecasting.
- Stock-outs and promotions.
- Ultra-sparse demand.
The new engine is accessed from Lokad's scripting language Envision.