Textile Orders in an Uncertain Market
Maral Overseas
Challenge
Ensuring lead times for customers is crucial, but volatile demand and price developments make this a challenge for leading textile producers such as Maral Overseas.
Solution
Accurate 6-months order and sales price forecasts
By harnessing the power of MIR’s real-world, real-time forecasting models, Maral Overseas was able to generate highly accurate 6-months order and sales price forecasts. Maral can now understand how real-world events influence future demand and material prices to make informed decisions about purchasing and production planning. With MIR, Maral Overseas can stay ahead of market shifts, secure product availability, and optimize production to meet demand efficiently.
50-60
Forecasting Accuracy Increase
$2.4-3.6
Loss Avoided
2-3
Revenue Loss Avoidance
Results
By partnering with MIR Insight, Maral Overseas generates accurate order forecasts for key products, enabling informed purchasing decisions, optimized production, and timely availability. This accuracy increase of 50-60% unlocks a loss avoidance potential of 2-3% of annual revenue, leading to significant cost savings, improved profitability, and streamlined logistics strategies.
”As a vertically integrated textile producer we need to forecast much better to minimise lead times for our customers. To my great surprise, MIR’s model was able to forecast our yarn and cotton trends accurately and that’s the reason why we got started together.
Shantanu AgarwalMaral Overseas, Managing Director
