Case Study: Global Chemical Corporation improves forecast accuracy with Prevedere

Global Chemical Corporation - Customer Case Study

Global Chemical Corporation, a major chemical company, faced the challenge of creating an accurate 2021 forecast as its historical demand models were invalidated by the pandemic and economic crisis. This lack of an agile plan put resource allocation and working capital optimization at risk. To address this, the company partnered with Prevedere to identify leading indicators and produce forecasts for its business units.

Prevedere used its global data and AI/ML solution to quickly identify key economic indicators and build tested forecast models. As a result, Prevedere provided the leadership team with forecasts that achieved a 95.2% 12-month accuracy rate. This data-driven strategy led to a 60% reduction in time spent gathering external data and an $8 million reduction in excess inventory for one division, enabling the company to increase revenue and decrease costs.